September 02, 2022

Home sales and renovations have slowed while inflation has driven up building costs, which has carpenters, landscapers, and other small businesses worried about losing work. Chris Doyle, CEO and cofounder of Billd, a construction finance company, urges businesses to pivot, such as by taking on smaller jobs. “Small businesses have an opportunity to adapt quicker since they’re more nimble than bigger companies,” said Doyle.

Securing funding sources has always been challenging for affordable housing developers and has only become more complicated because of supply-chain disruptions, inflation, and a construction-worker shortage. Now, the White House is allowing developers to use funding from the American Rescue Plan Act to fully finance affordable housing. But this isn’t a surefire solution; state and local governments’ capacity may limit the reach of federal funds to boost supply.

Across the country, many college students are struggling to find affordable housing amid rising rents and lengthy waiting lists. Maine’s community colleges are seeing an overall 12 percent increase in enrollment this year because of the state’s free tuition program. Though some colleges have resorted to housing students in hotels nearby, they’re still unable to house everyone.

The John C. Anderson Apartments (JCAA) is one of the first LGBTQ-friendly senior housing facilities in the United States. JCAA opened in 2014 and has since become a model for LGBTQ-friendly, subsidized housing for seniors. Currently, 30 LGBTQ-friendly affordable-housing projects are open or in some development stage nationwide. “There’s a need for affordable housing where LGBTQ seniors can feel safe and can be among their peers,” said Charles Carroll, property manager of the JCAA.