On Nov. 13, a D.C. Council committee will hold a hearing on legislation that would extend the city’s rent stabilization program for another 10 years. While the legislation as introduced is simple, it has prompted a broader conversation about how rent stabilization should work.
This conversation is a necessary one at a time when the District has committed itself to ambitious goals that make us the envy of other cities. For example, Mayor Muriel Bowser has pledged to build 36,000 new housing units at all income levels by 2025. Her administration is the first in the region to state a goal to meet projected housing needs and is already undertaking the work to get there by recently setting neighborhood-level affordable housing targets. In addition, the Council’s CleanEnergy D.C. Omnibus Amendment Act passed last year calls for steps to set new building standards to reduce greenhouse gas emissions by 50% by 2032 and reach carbon neutrality by 2050.
Meeting these goals is going to require…Read the full story from the Washington Business Journal.