Vacant Commercial Property to Affordable Housing Act

This Act would establish a competitive grant program administered by the Secretary of Housing and Urban Development to help cities and eligible local governments convert vacant commercial properties into affordable rental or ownership housing. Grants may support acquisition, rehabilitation, environmental remediation, accessibility improvements, and connections to existing water, sewer, transit, and other neighborhood infrastructure. Priority shall be given to projects that preserve sound structures, expedite local permitting and approvals, remain affordable for at least 30 years, and demonstrate coordination with residents and local housing plans.