Chicago – March 12, 2025
The Trump administration is halting a $1 billion program that helps preserve affordable housing, threatening projects that keep tens of thousands of units livable for low-income Americans, according to a document obtained by The Associated Press.
The action is part of a slew of cuts and funding freezes at the U.S. Department of Housing and Urban Development, largely at the direction of President Donald Trump and Elon Musk’s Department of Government Efficiency, that have rattled the affordable-housing industry.
Preserving these units gets less attention than ribbon-cuttings, but it’s a centerpiece of efforts to address the nation’s housing crisis. Hundreds of thousands of low-rent apartments, many of them aging and in need of urgent repair, are at risk of being yanked out from under poor Americans.
The program has already awarded the money to projects that would upgrade at least 25,000 affordable units across the country, and details of how it will be wound down remain unclear.
