What Could The $2.25 Trillion Infrastructure Bill Mean For The Real Estate Industry?
June 3, 2021 | CohnReznick| Julia Troy, Bisnow Custom Content Writer
The American Jobs Plan is a proposed $2.25 trillion infrastructure bill that President Joe Biden is trying to steer through Congress. The wide-spanning bill covers everything from updating roads and bridges and upgrading the nation’s electrical grid to implementing new plans for clean drinking water and constructing and preserving commercial buildings, schools and hospitals.
While the bill has yet to pass — or even be fully written — it stands to make a major impact on the commercial real estate industry.
“There is money being proposed for all types of construction here,” said Beth Mullen, who leads the affordable housing practice at CohnReznick. “This plan is focused on a community-based approach to infrastructure. It’s not just about our nation’s roads and bridges; it’s about affordable housing, public schools, childcare centers and more, which are just as important as the traditional types of infrastructure we think of.”
