The Spring Street Brief

Rep. Mike Thompson introduces American Affordability Act to expand LIHTC, create renter/homebuyer tax credits, and incentivize commercial-to-residential conversions.

Show Notes

Representative Mike Thompson introduced the American Affordability Act on February 3rd, proposing comprehensive measures to strengthen affordable housing programs and expand the Low-Income Housing Tax Credit.

Key Provisions of the American Affordability Act:

  • Additional LIHTC enhancements beyond the 12% increase in OBBBA
  • New tax credits for first-time homebuyers facing affordability challenges
  • Tax credits for renters struggling with housing costs
  • Incentives to convert vacant office buildings to residential housing
  • Targets households at 80-120% of area median income

Why This Matters:

  • Office vacancy rates at historic highs create adaptive reuse opportunities
  • Commercial conversions can be faster and cheaper than ground-up construction
  • Bipartisan interest signals continued support for affordable housing expansion

For LIHTC developers, this bill could open new deal structures and acquisition opportunities in the commercial conversion space.

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