Modular Construction: A Solution to Affordable Housing Challenges
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The lack of affordable housing is pervasive across the United States. It affects some locations more severely than others, with each having unique challenges. Construction and land acquisition costs are frequently cited as primary drivers of multi-family housing development, and affordability is determined by a geography’s housing costs versus its median income. This paper highlights crucial components in the connection between economic conditions, public policy, and affordable housing development. It focuses on how efficiencies in modular construction present opportunities for addressing specific challenges in Maine and will propose a strategy for public-private cooperation, particularly in the site selection process, in order to streamline the state’s affordable housing agenda.
Cornell Real Estate Review
Volume & Issue:
Modular Construction; Affordable Housing; LIHTC; Low Income Housing; Maine
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