General News Category Archives

Perceptions of Affordable Housing Investment: 2019 Study Key Findings

Kingsley Associates released an executive summary of findings from confidential interviews with 31 large institutional investors and investment advisors on the topic of affordable housing investment. They found three main reasons these investors chose not to invest in affordable housing:

The Federal Government’s “onerous rules and regulations.”
The miseducation (or under-education) of the investment community.
Investing in affordable housing solely to meet a mandate.

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NCSHA, EIG Publish Three Case Studies on Affordable Housing in Opportunity Zones

The National Council of State Housing Agencies (NCSHA) and the Economic Innovation Group (EIG) published three case studies of developments that incorporate Opportunity Zone investment to create new affordable homes and support community revitalization efforts in Ohio, Maryland and Florida. These are the first in a new series of Opportunity Zone Development Profiles that detail project financing, community socioeconomic data and projected economic impact. The profiles demonstrate how Opportunity Zone investments are being utilized to develop affordable homes for very-low- to moderate-income households, and how that investment is furthering community revitalization efforts and enhancing positive community impact.

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Florida Governor Recommends Full Funding for Affordable Housing Programs in Budget

Governor Ron DeSantis (R-FL) announced full funding for affordable and workforce housing programs. Unveiled in his Bolder, Brighter, Better Future Budget, the Governor recommends providing $387 million to the affordable housing trust funds – $119.8 million for the State Apartment Incentive Loan (SAIL) program and $267.2 million for the State Housing Initiative Partnership (SHIP) program.

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Louisville, Kentucky: Family Scholar House Helps Residents Achieve Economic Independence through Academic Success

HUD User published a case study on the Riverport Family Scholar House, one part of a larger multi-generational housing development. Riverport provides affordable housing and a network of support services to single parents and foster care alumni who are pursuing post-secondary education in Louisville, KY. Residents receive access to free or heavily subsidized child care, as well as academic coaching and support. The development’s educational services building hosts a wide variety of support services, such as food pantries, professional development seminars and mentoring for residents and members of the surrounding neighborhoods. The project won the 2019 American Planning Association/HUD Secretary’s Opportunity and Empowerment Award.

Mayor Buttigeg Releases Housing Plan

Democratic presidential hopeful Mayor Pete Buttigieg (South Bend, IN) released An Economic Agenda for American Families which includes spending $430 billion on affordable housing measures. “He will enable more than 2 million more units of affordable housing to be built or restored where it is needed most, using billions of dollars of investments in the Housing Trust Fund, Capital Magnet Fund, HOME and CDBG funds, and the Low Income Housing Tax Credit.”

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Voters Approve Housing Ballot Measures

Voters in multiple jurisdictions across the country approved housing- and mitigation-related ballot measures. Voters in Durham, NC approved a $95 million affordable housing bond by a 76 to 24 percent margin. The measure will be paired with $65 million in federal and local funding over the next five years to support affordable housing development and programs. San Francisco voters passed Proposition A, a $600 million bond to build and preserve affordable housing. Voters also passed Proposition E, which will facilitate the construction of affordable housing for teachers on city-owned property. Texans approved Proposition 8, a constitutional amendment that will set aside $800 million from the state’s rainy day fund for flood mitigation efforts.