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The Wyandanch Village apartment complex adjacent to the Wyandanch, New York, Long Island Rail Road station is show in this aerial photograph on September 12, 2023. It is one example of transit orientated development on Long Island.
An apartment complex adjacent to the Long Island Rail Road station in Wyandanch, New York is one example of transit-oriented development.

John Paraskevas/Getty Images

  • Construction of new apartment buildings is slowing as interest rates stay high.
  • The Biden administration is attempting to do something about that by offering new funding. 
  • The Department of Transportation is opening up billions in loans for construction near mass transit.

Multifamily housing construction boomed over the last couple years, and more apartments are coming on the market than at any time since the 1980s.

Tags
economy, Real Estate, politics, Housing, real-estate, Apartment, department-of-transportation, Transportation, Construction
Source
Developers who want to build apartments near public transit stations are in luc…