T
he idea that building on government-owned land can solve the housing crisis has become a popular refrain, but it's often met with disappointment when people realize how limited these opportunities are. The de Blasio administration launched a contest for "tiny homes" on small city-owned lots, and Mayor Eric Adams formed a task force to identify affordable housing potential on city properties. However, former Deputy Mayor Alicia Glen pointed out that most vacant city-owned sites are "sliver lots that are unbuildable." She also noted that there is "virtually no city-owned property left."
The idea of building on federal land has gained traction, with Sen. J.D. Vance and Gov. Tim Walz suggesting it as a solution to the housing crisis during the vice presidential debate. However, they both acknowledged that this approach has its limitations, particularly in areas where federal land is scarce or not suitable for development.
Even if the federal government were to sell property at a discount for affordable housing projects, these initiatives would still need to make sense in terms of local demand and market forces. Politico reported that much of the federal government's land is not located in high-demand areas or lacks infrastructure to support housing development.
The notion that building on government-owned land can solve the housing crisis has become a familiar refrain, but it's often met with disappointment when people realize how limited these opportunities are.
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Indicators of activity in the commercial property market
Increased competition for office space, EV market growth in Norway, and diners choosing budget-friendly options.