It isn’t every day that an apartment executive is tapped for a Cabinet position. So, when President-elect Donald Trump nominated JPI Chief Visionary Officer Scott Turner to be Secretary of HUD last month, the apartment industry's reaction was supportive.
Payton Mayes, CEO of Dallas-based developer JPI, called Turner a cherished friend and role model in a statement released by the company.
“Scott’s appointment is a testament to his unparalleled servant leadership and tireless efforts to inspire and uplift those around him,” Mayes said. “His encouragement has a profound impact, empowering others to reach their potential and pursue their purpose.”
Turner, a former NFL player who was also a Texas state representative from 2013 to 2017, worked in the first Trump White House, where he helped establish Opportunity Zones, an economic development tool created under the Tax Cuts and Jobs Act of 2017 that allows people to invest in distressed areas in the U.S.
The tax breaks under the program are set to expire in 2026, but could be extended by the new Trump administration.
“Scott’s leadership as executive director of the White House Opportunity and Revitalization Council in the first Trump administration, where, alongside Secretary Ben Carson, he was instrumental in implementing Opportunity Zones, will serve him well,” MBA's President and CEO Bob Broeksmit said in a statement.
Other observers also see the Turner nomination as a boost for Opportunity Zones. “Not only does this show Trump’s commitment to the program, but it also places one of the most experienced OZ advocates in a position of real influence,” Barrett Linburg, co-founding principal of Dallas-based apartment investment and development firm Savoy Equity Partners, posted on X after the announcement.
For developers like Greg Bonifield, co-founder of Charleston, South Carolina-based apartment developer Woodfield Development, a potential expansion of the Opportunity Zone program is good news. His firm has completed three OZ projects and is interested in doing more.
“It has moved a lot of dollars into some lower-income areas, created a vast amount of jobs and built some beautiful real estate in areas that were not seeing much of anything new being developed,” Bonifield told Multifamily Dive. “I think it has got to go down as one of the best federal programs put in place for real estate, and I'm hoping that the new administration decides to extend those benefits so that it will continue for the next several years.”
Affordable advocates respond
However, affordable housing advocates had mixed reactions to Trump’s priorities as they commented on Turner’s selection.
Washington, D.C.-based advocacy group The National Fair Housing Alliance, which works to eliminate housing discrimination and ensure equitable housing opportunities, urged Turner to enforce the Fair Housing Act fully, tackle housing’s role in driving inflation and expand the Housing Choice Voucher Program, as well as homeownership opportunities for first-generation homebuyers.
The advocacy group, which accused Trump of gutting HUD’s staff and budget during his first administration, asked Turner to fight for the necessary resources to lead HUD effectively.
“Scott Turner has been nominated to lead HUD at a time when the number of housing discrimination complaints is at an all-time high and the nation is facing a fair and affordable housing crisis,” NFHA President and CEO Lisa Rice said in a statement. “Voters are demanding solutions to drive down the cost of housing, mortgage credit and homeowners insurance, fill the nation’s over 4 million units affordable housing gap and build viable, resilient communities where everyone can thrive.”
However, David M. Dworkin, president and CEO of the Washington, D.C.-based National Housing Conference, which represents affordable housing stakeholders, said Turner had been a voice for investing in underserved communities in the first Trump administration in a statement.
“He has been a vocal advocate for the Opportunity Zone program and we anticipate working with him to extend and expand the program to incentivize the construction of housing affordable to first-time home buyers, especially first-generation homebuyers,” Dworkin said.
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