LK Marketing and Real Estate

The housing shortage and homeless crisis continue to be pressing issues across the country, making the availability of more affordable properties a much-needed change. Fortunately, recent legislative shifts are paving the way for increased housing options, from multifamily developments to accessory dwelling units (ADUs).

California’s Senate Bill 9: More Housing Opportunities

In California, changes to Senate Bill 9 (SB 9) are making it easier to develop affordable housing. This law, designed to enable duplexes and lot splits on single-family residential lots, was once hindered by vague restrictions. However, recent amendments clarify that SB 9 projects can only be denied if they pose a public health or safety risk to tenants. This update ensures that more housing units can be built without arbitrary rejections, helping to alleviate the state’s housing crisis.

New York City’s Push for Housing Conversions

On the East Coast, New York City is making strides to transform existing commercial spaces into residential properties. Changes to the City of Yes for Housing Opportunity initiative will streamline the conversion process, making it easier for developers to repurpose vacant office buildings and commercial properties into much-needed housing. With high office vacancy rates in the wake of shifting work trends, this move could breathe new life into underutilized spaces while expanding housing inventory.

The Rise of Accessory Dwelling Units (ADUs)

Homeowners across the country may also find it easier to build ADUs—small, secondary residences on their properties. States like Arizona and Nebraska have introduced new regulations allowing ADUs on residential lots, providing additional housing options for renters, extended family members, or homeowners looking for passive income opportunities. Meanwhile, lawmakers in Texas are pushing to overturn restrictive ordinances that have previously limited or outright banned ADUs.

What This Means for the Housing Market

With legislative changes promoting duplexes, ADUs, and commercial-to-residential conversions, more affordable housing options could soon become available. These shifts have the potential to ease housing shortages, provide alternative living arrangements, and create new opportunities for homeowners and investors alike.

As the demand for affordable housing continues to grow, these initiatives may mark the beginning of a more inclusive and accessible real estate market.