Ben Carson says HUD will give preference to developers who build affordable housing in Opportunity Zones

March 12, 2019                     By: Keith Larsen

In an interview with The Real Deal, Carson also said he's now open to staying on as HUD secretary for a second term

HUD Secretary Ben Carson and a map of Opportunity Zones (Credit: Getty Images)

Housing and Urban Development Secretary Ben Carson said the agency will give preference to developers and investors who build affordable housing in federal Opportunity Zones when it comes to certain grants.

In an interview with The Real Deal on Tuesday, Carson said HUD will give added weight to proposed affordable developments in the Opportunity Zones, looking to make that construction a more competitive option for builders. But he acknowledged the agency could not mandate the construction of affordable housing in the 8,700 designated Opportunity Zones nationwide.

“If you are doing a project within an Opportunity Zone and you are applying for one of our grants, you get some preference,” Carson said during the interview. “So that, along with the tax advantages, will drive people to look at those (areas). We are also offering very specific technical assistance to help them coordinate their efforts.”................Read More