NMHC Delivers Guide for Advancing Housing Equity and Opportunity in the Multifamily Industry

WASHINGTON--(BUSINESS WIRE)--The National Multifamily Housing Council (NMHC), working with Enterprise Community Partners, has released a groundbreaking new resource for apartment firms, policymakers, community advocates and the public to explore ways that multifamily housing can be an even greater catalyst for creating more equitable communities and improving economic resilience for the residents we serve.

“Opening Doors of Opportunity: A Guide for Advancing Housing Equity in the Multifamily Industry” provides ideas, tools and case studies to advance housing equity, enhancing housing choice and growing the entire economy.

The Guide presents specific tactics for improving outcomes through multifamily development, investment and management, emphasizing the urgent need for more housing options, particularly for people of color who historically have had a more difficult time accessing the housing market. Building more housing for renters is essential for creating more equitable communities and unlocking additional opportunities to collectively improve outcomes.

“Nearly 40 million Americans, representing diverse racial, social and economic backgrounds, are building their lives in a multifamily apartment,” said Sharon Wilson Géno, NMHC's President. “We know that housing profoundly impacts health, education and social outcomes, which means multifamily housing providers have a unique role to play in improving economic inclusion and mobility.”

“Importantly, this work is not just an effort to improve individual outcomes,” said Wilson Géno, “but also to improve local communities, expand the overall economy and meet investor expectations and demands. In other words, undertaking this work makes good business and economic sense.”

The Guide's intended audience is broad and includes multifamily industry professionals, federal, state and local policymakers, and other community stakeholders seeking to apply a housing equity lens to their work. Examples include:

• Ways apartment operations can help residents achieve better outcomes.

• How apartment developers and designers can address housing equity gaps as they expand the housing supply.
• How apartment finance and investment organizations can attract and incentivize investment in a wider variety of neighborhoods.
• How multifamily suppliers, service providers and advocates can support the industry in this work.
• Reforms, incentives and investments policymakers can pursue to expand the housing supply and improve affordability and stability in more communities.

The Guide is not a specific roadmap. Instead, it is a collection of resources to advance equitable outcomes for renters and strengthen communities through various policies, practices and products, as well as approaches to advance existing initiatives beyond current models.

An interactive online version of the Guide, with extended content, features and interactivity, can be found at https://housingequityguide.nmhc.org/.

Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the apartment industry. We bring together the prominent owners, managers and developers who help create thriving communities by providing apartment homes for 38.9 million Americans, contributing $3.4 trillion annually to the economy. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at [e-mail], or visit NMHC's website at www.nmhc.org.