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NMHC President Warns Cities Against Discouraging Apartments
Cities that discourage apartments do so at their own peril, according to of the National Multi Housing Council (NMHC). Speaking at the U.S. Conference of Mayors' National Economic Summit last week, NMHC President Doug Bibby told the gathering of mayors and business executives that they can no longer cater to NIMBY (not-in-my-backyard) opposition to apartments if they want to create vibrant, livable communities. Bibby cited one study in his prepared remarks that found that the Minneapolis-St. Paul, Minn. region forgoes an estimated $265 million per year in consumer spending and business income because it lacks sufficient workforce housing. The National Economic Summit was sponsored by the U.S. Conference of Mayors and co-sponsored by the Council for Investment in the New American City and the National Urban League.