The U.S. Department of Housing and Urban Development (HUD) has proposed new rules that would require owners and developers of HUD-funded multifamily housing to install broadband infrastructure that is accessible to all units. The requirement, which would apply to all new buildings or buildings undergoing significant renovation, is part of a larger initiative to address the “digital divide.” Multifamily rentals with a mortgage insured by the Federal Housing Administration or that have a loan that falls under a HUD loan guarantee program are exempt from the broadband requirement. Owners and developers would be required to install cables, wiring, fiber optics, or other infrastructure that provides broadband service to each unit. The requirement only applies to the property; owners and developers would not have to provide a connection between the property and an Internet provider. Other programs and nonprofit organizations would be expected to offer this service at low or no cost. HUD would consider exceptions to the rule if a building’s location or characteristics make broadband infrastructure installment unfeasible.
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AuthorAn experienced real estate investor and co-founder of 37th Parallel Properties in Richmond, Virginia, Chad Doty has established himself as a leader in commercial multifamily real estate. Archives
January 2017
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