What does the housing crisis actually entail? To wrap up Season 3 of American Building, I’m joined by Keith Rand, Vice President at Mill Creek Residential, to discuss the main housing production issues Americans face today and different solutions to address them. We look at limitations with local and state government policy and unpack the proposed housing supply plan from the White House. 

In our conversation, Keith explains the root cause of the supply and demand imbalance in New York City. Between the exorbitant cost of land, insurance, and property taxes, the city that more than 8 million people call home is increasingly unaffordable and unsustainable. Keith breaks down a potential rezoning approach called “Own Your Air,” which promotes diverse housing stock and reinvestment into underserved neighborhoods. 

Keith shares his perspective on the most pressing issues we need to tackle when it comes to housing production and affordability, namely starting with local and state government policy. He highlights inefficiencies in large-scale tax credit programs and suggests ways to improve them. We also reflect on inspiring progress we've seen in state legislatures across the country, including California, Colorado, and Texas. 

About the Guest:

Keith Rand is Vice President at Mill Creek Residential, the 3rd largest residential rental development company in the country. Previously, he worked in senior roles at Stonehenge and Greystar. He began his career at Silverstein Properties and JP Morgan Chase. Keith is a graduate of Duke University, the Wharton School at the University of Pennsylvania, and the Kennedy School at Harvard.

Topics Covered:

• Shared housing challenges of rural and urban landscapes 
• Highlights from Keith’s time working for the Bloomberg administration
• How the lack of standardization in real estate creates challenges in housing development 
• Thoughtful ways to lower property taxes for rental housing in New York City 
• Ideas for building out the Section 8 voucher program 
• Approaching housing from an empathetic, holistic perspective 

Resources Mentioned: 

• FACT SHEET: President Biden’s Budget Lowers Housing Costs and Expands Access to Affordable Rent and Home Ownership  
• Episode 62 with Melissa Román Burch 
• Progress and Poverty by Henry George 

About Your Host: 

Atif Qadir is the Founder of Commonplace, a company dedicated to tackling one of the biggest barriers to more inclusive, affordable, and sustainable development: improving access to capital. Commonplace helps impact-driven developers and capital providers with shared values discover and connect with each other.

Connect with Keith Rand: 

• Connect with Keith on LinkedIn

Follow Us: 

• Grab our exclusive guide: How Eight Developers & Designers Are Responding to the Housing Crisis
• Learn more on the American Building website
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• Connect with Atif Qadir on LinkedIn
• Learn more about Michael Graves
• Learn more about Commonplace