NHBR Op-Ed: Unlocking housing, unlocking opportunity
Why New England needs the ROAD to Housing Act
By James T. Brett
Housing affordability remains one of New England’s biggest economic issues. From Manchester’s and Concord’s competitive rental market to small towns dealing with aging housing stock, the pressure is widespread.
Employers find it hard to attract workers, families spend more of their income on housing, and communities face difficult choices between upgrading infrastructure and keeping housing affordable.
That is why the Renewing Opportunity in the American Dream to Housing Act of 2025, the ROAD to Housing Act, is such a vital piece of legislation. With the bipartisan leadership of Sens. Tim Scott and Elizabeth Warren, the bill passed the Senate Banking Committee unanimously this summer. Housing is not a partisan issue; it is a shared economic necessity.
The bill addresses the crisis from multiple angles: increasing supply, preserving affordable units, empowering local governments and encouraging private investment. For New England, where high costs and limited land create unique challenges, the ROAD to Housing Act provides essential tools.
One highlight is the $1 billion Innovation Fund, championed by Sen. Warren. This program will award competitive, flexible grants to communities expanding housing supply. Municipalities that modernize zoning or adopt creative reforms can use funds to improve infrastructure, build new homes or upgrade essential systems. It is a model that rewards local initiative while respecting community decision-making.
The bill also enhances the role of private investment. The Community Investment and Prosperity provisions raise the Public Welfare Investment cap for banks from 15% to 20%, giving financial institutions more flexibility to direct funds into affordable housing and community projects. In a region with top-tier banks eager to support local development, this provision presents a significant opportunity to increase resources without additional taxpayer costs.
Additional reforms streamline programs and lower costs. Removing the cap on units that can be converted under the Rental Assistance Demonstration program will help maintain affordable housing. Updates to Community Development Block Grant allocations will encourage communities to remove barriers such as restrictive zoning. And revisions to National Environmental Protection Act (NEPA) requirements will cut unnecessary delays in building much-needed housing.
Together, these provisions create a pathway to a healthier housing market. By combining federal leadership with local flexibility and public-private collaboration, the ROAD to Housing Act establishes the conditions for sustainable growth and stronger communities.
For New England, this isn’t just policy; it’s an economic imperative. The region’s ability to attract talent, grow businesses and sustain communities depends on affordable, accessible housing. Without it, our workforce and economy cannot thrive.
The New England Council commends Sens. Warren and Scott for their bipartisan leadership and urges swift passage of the bill in both chambers. With support from builders, bankers, mayors and nonprofits, the momentum is here. Now it is time to act.
At the council, our mission is to foster growth and opportunity across all six states. Few issues matter more to that mission than housing. The ROAD to Housing Act offers a chance to strengthen our economy and renew the American Dream for families from Boston to Burlington, Providence to Portland.
James T. Brett is the president & CEO of The New England Council, a regional alliance of businesses, nonprofit organizations, and health and educational institutions dedicated to supporting economic growth and quality of life in New England.