Transit-Oriented Property Conversion and Housing Affordability Act

To reduce housing costs and expand supply, this bill creates a targeted federal tax credit for the conversion of vacant or underused commercial and industrial properties into mixed-income housing located near public transit, with priority for projects that reserve a meaningful share of units for low- and moderate-income households. The bill also authorizes competitive infrastructure grants to states, municipalities, and transit agencies for necessary site remediation, utility upgrades, street access, and sewer and broadband improvements that support these conversions, while requiring streamlined federal coordination and basic labor, environmental, and affordability standards to help high-cost states such as New Jersey bring more attainable homes online faster for working families.