Federal Housing Victory: 21st Century ROAD to Housing Act Becomes Law

After weeks of uncertainty, the 21st Century ROAD to Housing Act has officially become law.

Although the legislation passed Congress with overwhelming bipartisan support, President Trump ultimately chose not to sign the bill. Under the U.S. Constitution, because Congress remained in session and the President neither signed nor vetoed the legislation within the required ten-day period, the bill automatically became law.

For GCAA and the rental housing industry, this marks a significant advocacy victory.

Throughout the legislative process, one of the industry's primary concerns centered on language that would have limited the ability of institutional investors to own newly constructed build-to-rent communities. Such restrictions had the potential to reduce private investment in new housing at a time when communities across the country continue to face significant housing shortages.

Thanks to the advocacy efforts of the National Apartment Association (NAA), GCAA, and apartment associations across the country, Congress removed that controversial provision before final passage. Instead, the final law provides a clear exemption that allows institutional investors to build, own, and operate newly constructed rental homes indefinitely.

This outcome preserves an important source of investment for new housing production while helping ensure that developers can continue delivering the rental homes needed to meet growing demand.

We would also like to extend a special thank you to Greg Brown and the entire legislative team at the NAA, and especially Maria Spencer, NAA’s federal lobbyist for North Carolina and South Carolina, for their outstanding leadership throughout this process. The NAA team worked tirelessly to keep our industry informed, coordinate advocacy efforts with affiliate associations, and ensure that our concerns were heard on Capitol Hill. We are especially grateful to Maria for her partnership and dedication in helping secure this important legislative victory. 

GCAA will continue to monitor implementation of the new law and advocate for policies that support housing affordability, responsible development, and increased housing opportunities throughout our region.