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Join the call to Rethink Real Estate

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Earlier today, we released a new report about the federal government’s involvement in real estate. This spending represents billions of dollars of taxpayer dollars, and impacts Americans on every street in every town and city across the country.

We’re calling for action, and we want you to join us. Add your name to the petition asking Congress to examine this spending and better coordinate federal programs.

We know what programs this funding goes to, but how does it impact American families? Is it supporting U.S. communities? And are taxpayers getting the best return on their investment? All of these questions should be answered.

As the 113th Congress begins its new work, with the Presidential Inauguration just two weeks away, and as budget concerns continue to be a focus of debate in Washington, now is a unique opportunity to examine this spending.

Ask Congress to examine federal real estate spending. Take a moment to add your name to the national petition, and share it on Facebook or on Twitter with the hashtag #RethinkRealEstate.

Federal investments could help American communities grow stronger and more vibrant — in addition to achieving their goals of homeownership and housing security. Call on Congress to examine these programs today.

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New report calls for examination of federal real estate spending

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Federal financing of and spending on real estate impacts millions of Americans on every street, in every neighborhood, town and rural community in the country. From loan guarantees to commercial tax credits, these programs help those most in need pay their rent, help families purchase their first home, and provide financing for commercial development. The federal government impacts where and how homes and even whole neighborhoods are built in the United States.

Federal Involvement in Real Estate: A call for examination surveys this spending, which encompasses approximately $450 billion each year. Through a combination of direct spending and commitments, this funding supports loans and loan guarantees, grants, and tax credits.

This spending has an enormous impact on the U.S. real estate market. Though usually viewed as a “free” market, the U.S. real estate sector is heavily influenced by direct and indirect government intervention. Taken as a whole, these expenditures and investments impact where real estate is developed and what kind of product is built.

Even a cursory analysis reveals this impact is uneven. For example, small multifamily buildings are less likely to receive financing, despite the fact that most renters in the United States live in these smaller buildings. Viewed as whole, federal funds are not targeted to those most in need, are not targeted to strengthen existing communities and are not targeted to places where people have economic opportunities.

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How do federal investments affect real estate? An upcoming report takes a hard look.

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Federal financing and spending on real estate impacts millions of Americans on every street, in every neighborhood, town and rural community. From loan guarantees to commercial tax credits, these programs help those most in need pay their rent, help families purchase their first home, and provide financing for commercial development. The federal government impacts where and how homes and even whole neighborhoods are built.

What types of development do these programs support? How do they impact American homeowners and renters? And could these investments be getting a better return for taxpayers?

Tomorrow Smart Growth America will release a new report examining this spending and how it might better achieve its purposes. Federal Involvement in Real Estate: A Call for Examination is a first-of-its-kind report analyzing the U.S. government’s surprisingly large stake in the real estate sector.

Look for the new report tomorrow at www.smartgrowthamerica.org, or join our mailing list to get a copy emailed straight to your inbox.

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Partnership in the News: InVision Tampa rolls out master plan

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On November 27, InVision Tampa, a 2010 recipient of a Community Challenge grant from the U.S. Department of Housing and Urban Development (HUD) revealed for the public its master plan to revitalize Tampa’s downtown core. Emphasizing business and residential connections, the plan hopes to turn downtown Tampa into an accessible and thriving mixed-use area, anchored by the riverfront and transit amenities.

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Fiscal cliff resolution also extends transit benefits, housing tax credits

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Fiscal cliff negotiations went down to the wire, but the final deal brokered between Democrats and Republicans included extensions to several transit and housing tax programs. Late on January 1, Congress agreed on a tax package, the American Taxpayer Relief Act, which includes a few provisions critical to helping communities implement smart growth solutions. First, … Continued

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Leveraging transit-oriented development for economic growth, better living in Hawaii

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[caption id="attachment_23906" align="alignleft" width="640"] An artist’s rendering of a potential transit-oriented development in Waipahu, Hawaii. According to a new report from Smart Growth America and the state’s planning office, such developments could boost economic development and quality of life on the island.[/caption]Hawaii state agencies can leverage transit-oriented development to help deliver on many of Governor Abercrombie’s economic development, quality of life and environmental protection goals, according to a new analysis from the state’s Office of Planning and Smart Growth America’s Leadership Institute.

The report’s recommendations come after a series of meetings between state government officials, private sector leaders and non-profit representatives. The group of more than 40 participants, convened by Governor Abercrombie, identified the importance of transit-oriented development to Hawaii.

“The people of Hawaii now have an unprecedented opportunity to leverage transit-oriented development throughout the islands, including but not limited to The Bus and rail transit on Oahu, but also the Hele-On Bus on the Big Island and the Maui Bus and Kauai Bus,” said Governor Abercrombie. “By planning ahead, we can use TOD as a positive tool to proactively direct growth away from agricultural and conservation lands and lay the groundwork necessary to encourage development where it is most needed and welcome for the next generation.”

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Statement on EPA Administrator Lisa Jackson's Resignation

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Smart Growth America President and CEO Geoffrey Anderson released the following statement after the announcement of Environmental Protection Agency Administrator Lisa Jackson’s resignation yesterday: “Under Administrator Jackson’s leadership, the U.S. Environmental Protection Agency has embraced a more inclusive and comprehensive set of measures to address the interconnected environmental, social and economic issues affecting our nation’s … Continued

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Partnership in the News: Sustainable Berkshires presents first results

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The Berkshire Regional Planning Commission (BRPC), a Massachusetts recipient of a Regional Planning grant from the U.S. Department of Housing and Urban Development (HUD), has completed the first phase of its “Sustainable Berkshires” plan. On Tuesday, December 11th, the BRPC presented to the public the plan for economic development, conservation, and historic preservation. Next spring, the next phase of the plan will address housing and neighborhoods, regional energy, transportation and infrastructure.

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Private sector leads the way on new light rail in Detroit

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Architect’s rendering of the M-1 light rail. Image via M-1 RAIL Summer 2012 Project Update.

A group of private sector leaders in Detroit are looking toward a new light rail project to help revive the fortunes of the former car capital.

The group is so confident in the potential of a line, known as the M-1 light rail, they’ve put up nearly $90 million in private funding to make the project a reality. If successful, the group would set a new precedent for the “rail as economic development” paradigm, and provide a new model for cities across the country looking to catalyze smart growth.

The proposed line would run 3.4 miles along Detroit’s Woodward Avenue from the New Center neighborhood to downtown and the riverfront, connecting some of the city’s biggest attractions and job centers. The line would run curbside along Woodward Avenue and provide connections to Detroit’s People Mover and Amtrak station, as well as a planned regional bus rapid transit system.

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