Pension Funds Can Save Affordable Housing

New York demonstrates how pension funds can be a major source of financing for affordable housing.

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January 23, 2018, 2:00 PM PST

By snewberg @JoeUrbanist

New York City Construction

TonyV3112 / Shutterstock

For more than three decades, programs in New York have used public pension funds to help finance development or preservation of affordable housing. Earlier this year, two community development corporations issued bonds, with much of the investment coming from private pension funds and mutual funds, to finance affordable housing.

Considering the $27 trillion that is being invested on behalf of seniors, the potential nationwide to tie these investments to affordable housing is significant. Although public subsidy will still be required, and financial regulations currently limit some strategies, a number of entities are pursuing ways to leverage these dollars, according to an article by Oscar Perry Abello.

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