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Biden Administration Unveils $85 Million Initiative to Tackle Housing Costs

New grants aim to remove barriers to affordable housing development and boost supply in 21 communities.

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Overview

  • Vice President Harris announced the first round of PRO Housing grants, totaling $85 million.
  • The initiative targets local barriers such as high land costs, outdated permitting, and inadequate infrastructure.
  • More than 175 communities applied for the funding, reflecting high demand for affordable housing solutions.
  • Additional $100 million in PRO Housing funding will be released later this summer.
  • The administration's broader housing plan seeks to build 2 million affordable housing units and support first-time homebuyers.