A new report from the Urban Land Institute responds to what it argues is a housing crisis among lower- and middle-income workers.
Trisha Riggs shares news of the a new report from the ULI Terwilliger Center for Housing, called "Preserving Multifamily Workforce and Affordable Housing." The report "profiles 16 leading efforts to retain the affordability of rental units that either have lost or are at risk of losing government subsidies, as well as 'naturally occurring' affordable units that are likely to be repositioned to serve higher-income households."
The report also documents the scale of the decline among the housing supply in the range of affordability for the working class. The 16 programs profiled in the study are designed as a response to that trend: "a mix of below-market debt funds, private equity vehicles, and real estate investment trusts."
"Collectively, these efforts have raised more than $2 billion and acquired, rehabilitated, and developed nearly 60,000 units—with many raising additional capital to expand their activities," adds Riggs.
Read the full story: New ULI Report Looks at Innovative Financing Efforts Aimed at Preserving Workforce and Affordable Housing
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