The cost containment limits for multifamily development have been updated for 2022 to reflect the current building cost environment due to the shortage of building materials, supply chain issues and other inflationary pressures. The updated limits are effective as of April 21.
This additional boost in the limits should not be considered permanent and may be adjusted downward to typical levels if and when materials and supply chain issues stabilize. However, the cost containment limits will not be modified again until 2023 at the earliest. If you have any questions, please email firstname.lastname@example.org.