A sweeping new piece of U.S. federal legislation, the 21st Century ROAD to Housing Act (H.R. 6644), is set to reshape the real estate landscape. Aimed at tackling the supply-side crisis, the bill introduces significant shifts for commercial real estate, including streamlined NEPA reviews for office-to-residential conversions and $200M annual grants to boost housing supply. While the bill includes a controversial ban on large institutional investors acquiring additional single-family homes, it notably includes a carve-out for Build-to-Rent (BTR) projects—a relief for developers who feared a total production halt. For GTA investors monitoring cross-border policy ripples or large-scale institutional shifts, this legislation serves as a critical bellwether for housing policy. With complex rules regarding ‘investment control’ still pending from the Treasury, stakeholders must prepare for a new era of regulatory oversight. Read the full analysis at Altus Group.
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