Conclusion Navigating the Future The trends in housing production movements seen across states, such as rezoned commercial space or red-tape cut for high-density developments, may be mandated at the federal level. State laws, such as the one passed in Oregon, are being modeled on the federal level as strategies for addressing housing shortages across the country. Federal agencies have earmarked funds for states to work on passing similar rezoning legislation moving forward. Keeping an eye on this shifting policy and the kind of properties, it favors is a good practice for developers working in any market. Legislation housing production passing across the United States overall presents more opportunities for real estate developers. Zoning and regulatory changes often permit ambitious, high-density residential projects to move forward. Visionary developers may also see opportunities in rezoned commercial or industrial sites, many of which have existing infrastructure that has gone underutilized for years. Building partnerships with state and local stakeholders and investing time in communicating the value a project will bring to respective communities can help you overcome some of the resistance that can emerge on the local level. Policy designed to increase multi-family homes and repurpose underutilized infrastructure into new housing is likely to increase in popularity as housing shortages persist. Economic uncertainty may make developers less eager to pursue large housing projects, as some housing initiatives have failed to result in buyers or renters in a down-market. Budgeting accurately and weighing potential risks in the pre-development stage of a project can allow your team to better understand the potential risks and rewards of your proposed project and move forward with confidence. Discover How Northspyre Keeps Budgets On Track from Pre-Development to Stabilization Book a Demo 24