The day before visiting the proof of 3D concrete printing concept house in Austin, Texas, (note page 20) U.S. Department of Housing and Urban Development Secretary Ben Carson addressed Trump Administration measures responding to increased building demand in cities across the country at the Public-Private Partnership Conference in Dallas:
“Today’s rapid urban growth is causing pains—especially in the housing market. In many high-cost areas, disruptions to traditional housing trends have contributed to affordable housing challenges. Many teachers, nurses, police officers and firefighters are struggling to find an affordable place to live in the very communities they serve.
“Fortunately, there are exciting developments to overcome these challenges, as innovators, entrepreneurs, philanthropic organizations, faith-based communities, and governments at every level are starting to work together. We are seeing partnerships form in communities across the country to help increase the supply of affordable housing and preserve existing housing stock … State and local governments are working together to examine outdated regulations, so more affordable housing developments can be built in high opportunity areas. Innovators are creating new technologies that drive down the cost of building a home.”
Opportunity Zones and the Rental Assistance Demonstration, or RAD program, he added, lead the public-private partnership initiatives HUD is promoting to revitalize distressed areas in communities across the country.
“The Trump Administration is acting decisively to stimulate housing and community development financing through Opportunity Zones. The 2017 Tax Cuts and Jobs Act included the creation of a new investment program with unprecedented tax incentives for the private sector to invest in distressed, low-income neighborhoods designated as Opportunity Zones. Approximately 35 million Americans now live in the more than 8,700 distressed economic areas. Public-private partnerships are among the key reasons that the Department of Treasury estimates Opportunity Zones will attract more than $100 billion dollars in private investment,” Secretary Carson observed.