Vacancy to Value Act of 2026

This bill would require the General Services Administration (GSA) to run a 5-year pilot program to sell or transfer underused federal property for redevelopment that benefits the surrounding community, such as affordable housing, jobs, clinics, childcare centers, and schools. Sales could be for less than fair market value, and buyers would have to submit a redevelopment plan and begin redevelopment within 5 years or risk having to return the property. Community-based nonprofits and public entities would get priority. The bill would also create a competitive grant program at the Department of Housing and Urban Development (HUD) to help eligible entities that acquire these properties pay for planning, cleanup, construction, infrastructure, and similar costs, and GSA would report the pilot's results to Congress.

Full text and official record on Congress.gov

Sponsors

• Wesley Bell Democrat sponsor
• 0 cosponsors