Congress funds blighted-building conversion to affordable housing
H.R. 5591 — RESIDE Act · Filed by Sam Liccardo (D-CA) · 4 cosponsors · Introduced Sep 26, 2025 · Referred to committee
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What it does
This bill creates a 5-year pilot program (2027–2031) allowing HUD to award $100 million annually in grants to local housing authorities to convert abandoned commercial buildings (warehouses, factories, malls, hotels) into affordable housing for households earning up to 100–120% of area median income. Grants range from $1–10 million per project and prioritize economically distressed areas, opportunity zones, and jurisdictions that have reduced regulatory barriers to conversion. The program is funded from excess HOME Investment Partnerships Program money and does not reduce existing formula allocations to communities.
Why we flagged it
The bill's core mechanism is a competitive grant program to convert blighted commercial real estate into affordable housing. It is a straightforward public-housing initiative with no hidden riders or private carve-outs.
What the text implies
- The waiver authority (Section 8) allows HUD to bypass statutes and regulations except fair housing, labor, and environment — this could permit waivers of accessibility standards (ADA), historic preservation, or local zoning if HUD deems it necessary for conversion projects.
- Grants are contingent on HOME program funding exceeding $1.35 billion annually; if HOME funding drops, the pilot shrinks or disappears, creating uncertainty for long-term project planning.
The full analysis lists 4 implications of this text.
Who stands to gain
Local housing authorities and participating jurisdictions (grant recipients); Construction and real estate development firms (contractors hired for conversion projects); Community land trusts (eligible use of grant funds)