HUD-subsidized housing in transit-oriented developments could become more expensive as it ages out and TOD becomes more popular, says a new study by AARP, Reconnecting America and the National Housing Trust.
From the press release:
"The study found that there are more than 250,000 privately owned HUD-subsidized units within a half-mile of existing or proposed rail stations in the 20 regions, and that contracts on two-thirds of these units are due to expire by the end of 2014. Almost a quarter of the units are designated for seniors.
'Affordable housing near public transportation is a very special resource because families who use transit can reduce their transportation expenditures by 16 percent – so these subsidized apartments are made even more affordable because of their location,' noted Reconnecting America President and CEO John Robert Smith. 'The federal government should ensure that this housing remains affordable.'"
Read the full story: Report Finds Thousands Living In Affordable Housing Near Transit Could Face Higher Rents
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