Affordable Housing Expansion and Preservation Act

This Act would establish a competitive grant program within the Department of Housing and Urban Development to help high-cost communities build, rehabilitate, and preserve affordable rental and workforce housing. Grants would prioritize projects serving low-income households, essential workers, seniors, and persons with disabilities; preserve existing below-market units through long-term affordability requirements; and support locally approved developments near jobs and public transportation. Eligible state, local, and tribal governments and nonprofit housing organizations would be required to provide a reasonable matching contribution and submit plans demonstrating community need, cost effectiveness, and protections against displacement.