Bell Introduces Legislation to Expand Affordable Housing and Revitalize Communities

Washington, D.C.— Today, Representative Wesley Bell (D-Mo.) introduced the Vacancy to Value Act of 2026, legislation aimed at helping communities redevelop vacant and underutilized federal properties into affordable housing, economic development projects, and vital community facilities.

The legislation would establish a pilot program and redevelopment grant program through the General Services Administration (GSA), in partnership with the U.S. Department of Housing and Urban Development (HUD), to support the sale or transfer of underutilized federal properties for redevelopment projects that promote growth and community revitalization.

“Across the country, communities are facing rising housing costs, economic challenges, and a shortage of community-centered development opportunities, while federal properties sit vacant or underutilized,” said Rep. Bell. “This bill creates a pathway to use these spaces to uplift the community, bringing more opportunities for resources and services to those who need it most.”

Under the bill, eligible redevelopment projects could include affordable housing development, job creation initiatives, infrastructure improvements, and community facilities such as health clinics, childcare centers, schools, workforce development centers, and community centers.

To ensure accountability, entities acquiring property through the pilot program would be required to submit redevelopment plans and begin redevelopment within five years of acquisition. The legislation also includes recapture provisions if redevelopment obligations are not met.

In addition, the bill establishes a new Federal Redevelopment Grant Program administered by HUD in coordination with GSA. The program would provide competitive grants to eligible entities to support redevelopment projects, expand affordable housing opportunities, and promote long-term community revitalization.

The legislation directs priority toward projects that:

• Create or preserve permanent affordable housing;
• Benefit low-income and historically underserved communities; and
• Are proposed by community-based nonprofit organizations or public entities.

“The federal government should be a partner in creating opportunity and revitalizing communities,” Bell added. “This bill helps ensure that unused federal assets are put back to work in ways that expand opportunity, strengthen neighborhoods, and deliver long-term public benefit.”

Read the full bill text here.