JACKSONVILLE, Fla. – The U.S. Senate has passed what could become one of the most sweeping housing packages in decades, a proposal local leaders say could help tackle affordability challenges in Jacksonville if it becomes law.
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The legislation, known as the “21st Century ROAD to Housing Act,” is designed to increase the nation’s housing supply and lower costs for homebuyers by expanding funding, easing development barriers and boosting assistance programs.
Jacksonville’s Affordable Housing Director Joshua Hicks said the bill would complement efforts already underway at the local level.
“It provides more local resources and really builds on what we’re already doing to address the housing crisis,” Hicks said. “It encourages down payment assistance, increases housing funds and expands access to tax credits, which helps close financial gaps and get more affordable housing projects built.”
The proposal includes several key provisions aimed at increasing housing availability and affordability. It would relax certain regulations to encourage homebuilding and create federal programs to support state and local governments working to expand housing.
The bill also seeks to lower costs for homeowners by offering grants and forgivable loans for home repairs, while increasing funding for down payment assistance programs.
Hicks said another significant component focuses on speeding up development.
“It removes some permitting and zoning roadblocks and provides funding to create systems that help move projects faster,” he said. “That’s something we’re already working on here, but this would allow us to bring in additional federal support.”
The legislation also targets institutional investors, a growing concern in Jacksonville’s housing market. Under the proposal, corporations that own more than 350 single-family homes would face restrictions, including a requirement to sell those properties to prospective homebuyers after seven years.
Hicks said that provision could have a major local impact.
“Roughly 40% of our properties are owned by out-of-state institutional investors,” he said. “This helps ensure local developers and homeowners have the first opportunity to buy, instead of large corporations coming in, driving up prices and leaving without investing in the community.”
While the bill has cleared the Senate, it must still pass the House and be signed into law before any of its provisions take effect. Local officials say if approved, the measure could provide a significant boost to ongoing efforts to improve housing affordability across Jacksonville.