“It has completely changed my life. I was really, really struggling here, and my mom kept saying: You just need to hang on, if one thing can change, that could change your entire life." –Emiko Powers, Brooklyn resident In a city where finding affordable housing can feel like a daunting task, the NYC housing lottery offers a glimmer of hope. Architectural Digest sat down with lottery winners from Brooklyn to Queens to chat about scoring the City’s hottest commodity: affordable housing. Behind the scenes, champions like HPD’s Aileen Reynolds, Assistant Commissioner of Housing Opportunity, work tirelessly to ensure fairness and equity in the allocation of these sought-after units. “The original housing lottery was essentially an advertisement being placed in a newspaper instructing applicants to send an application in by mail. On the day of the lottery, all of those applications would be thrown in a big black garbage bag and shaken up and, individually, an envelope would be taken out and written down on a log…. We’ve come a long way since then.” Read more about the history of the lottery and the New Yorkers who live in these spectacular homes: bit.ly/3V7lrAH
NYC Department of Housing Preservation & Development’s Post
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Excellent article in the Wall Street and a shout out Bridget Gainer and the Cook County Land Bank Authority. Gaining access to vacant land is a daunting task and requires a streamline process, but that's not the only issue. These properties have been sitting vacant for many years and will require local governments and philanthropic funds to help reduce the high costs of renovation and new construction as the costs of construction exceeds the property selling price due to the area's low property values. The other issue is the lack of urgency as this, along with other community insecurities, is moving at a snails pace. According to the Chicago Housing Authority (CHA) FY23 Report, more than 200,000 familes are on CHA waitlists (https://lnkd.in/g3Q5QgWB). As mentioned in the WSJ article, loss of population, particularly homeowners, significantly reduces community resources for our schools, parks, transit, and public infrastructure. Even worse, declining population and increase vacancies dissuade private entities - like premium grocery stores and other entities - from investing into a particular community and increases crime. We are not only putting our families at risk of public safety concerns but also our law enforcement and public safety personnel as well. Chicago’s Department of Planning and Development and Department of Housing are crucial to public safety and to the economic viability of our city. We can jump start this by engaging community nonprofit organizations to bulk purchase vacant land to build single-family homes and multi-family 2-flats and 3-flats that are sold to local owner-occupied residents. Modular construction has provided a faster solution to putting up homes in record time. Plus, governments and financial institutions can expand purchase assistance programs. #BringingCommunitiesBackInitiative https://lnkd.in/gvmJA-UQ
Too Many Vacant Lots, Not Enough Housing: The U.S. Real-Estate Puzzle
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Especialista em Real Estate e mentor de investimentos imobiliários | Te ajudamos a alcançar e aumentar a sua riqueza fazendo as escolhas certas no mercado imobiliário americano | Top 1% LinkedIn
This post deeply resonated with me, highlighting a pressing issue: the distress of many families struggling to secure rent money by the month's end. This challenge should compel us to tap into our creativity to devise solutions that alleviate the housing accessibility crisis, starting, for example, with a small group from our congregation. I am hopeful that through our collective effort, we can expand these solutions to address the significant market imbalance. Let’s unite in brainstorming scalable ways to make a tangible difference in this situation.💡🏘️🏢🙏🏼 #housingcrisis #affordablehousing #HousingSolutions
We live in crazy times where people are desperate for housing affordability. While I am confident Pinnacle 441 is a great development in a great location and city, the demand being so acute that 20,000 people enter a lottery for residency is a message we all need to listen to. #pinnacle #pinnacle441 #housingcrisis #affordablehousing
Nearly 20,000 people register to live at 113-unit Hollywood affordable housing complex
miamiherald.com
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OFF-Market CRE Brokerage Specialist + CCIM candidate –– TAMPA, FL + CHARLESTON, SC –– Industrial + Retail + Multi-family + Hotel + Mixed-use + Land for ReDev : Former Rugby player. Porsche man. Making CRE Great Again!
WTF?! 20,000 people registered for this 113-unit #AffordableHousing complex in Hollywood, FLORIDA. Imagine how many more tenants will register when your city or town or island comes around to focusing on and fulfilling critical Commercial Real Estate deals like this that provide workforce / family housing solutions?
We live in crazy times where people are desperate for housing affordability. While I am confident Pinnacle 441 is a great development in a great location and city, the demand being so acute that 20,000 people enter a lottery for residency is a message we all need to listen to. #pinnacle #pinnacle441 #housingcrisis #affordablehousing
Nearly 20,000 people register to live at 113-unit Hollywood affordable housing complex
miamiherald.com
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SME, Blogger, & Writer on housing consumer, homeownership issues related to U.S. Common Interest Developments, HOA-governed communities, and relevant housing laws and policies
“Kilpatrick Woods will feature a Homeowners Association (HOA) and a 3,000-square-foot community center. This center will be a hub for gatherings and include a playground…” Why?!? Why does nearly every new housing development incorporate an HOA. This is unnecessary and of little actual benefit to homeowners. Instead, work with local governments to build public recreational parks that are not exclusive to one particular community. Stop creating the need for developer-controlled communities, followed up by volunteer led HOA boards. The majority of Americans do not want to serve on a board, do not want enforcement of onerous restrictions, they won’t use the common property that much, and do not want to pay HOA fees that will increase substantially within a decade. I love the concept of ownership of modular and/or manufactured homes to include the land. But ditch the HOA. #homeownersassociation #workforcehousing #homeownership #modularconstruction #manufacturedhomes
The developer of this new R1-zoned residential community, designed with manufactured housing's Cross Mods, held on Open House to introduce an innovative approach to community housing. #crossmods #manufacturedhousing Paul B. Chris Nicely Bob Bender Janel Lawson Tom Heinemann Doug Tollin, MBA EAGLE RIVER HOMES LLC John Ace Underwood Brad Nelms Trent Hollister Anthony Santiago Tifanee McCall PHC ACM Michelle LaBounty https://lnkd.in/ezwATviA
Kilpatrick Woods: A New Era of Affordable Manufactured Housing Unveiled in Hagerstown, MD
https://www.modularhomes.com
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Florida's Affordable Housing: Leadership Changes May Impact Down Payment Assistance and First-Time Homebuyer Programs FAMP maintains a constant focus on Affordable Housing in Florida within our Loan Originations and helping consumers get into homes. The FHFC has a significant role in administering affordable housing and first time homebuyer programs and has been the subject of recent controversies. This article provides an update on the status of challenges they have faced internally with leadership and staffing. https://lnkd.in/gtvqDwKZ
DeSantis’ affordable housing director Mike DiNapoli resigns
tampabay.com
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The Metropolitan Mayors Coalition and communities across the MAPC region have joined together to renew their support for local-option transfer fees, urging the Legislature to give communities this critical tool to fund affordable housing without delay, by passing the Affordable Homes Act this year. Transfer fees, which are locally adaptable, would allow cities and towns to collect a fee of between 0.5% and 2% on all real estate transactions over $1 million; the proceeds would be used to directly fund new affordable housing in the community. MAPC Executive Director Marc Draisen, Mayor Katjana Ballantyne of City of Somerville, City Manager Yi-An Huang of City of Cambridge, Mayor Dominick Pangallo of City of Salem, Massachusetts, and Keith Bergman, chair of Town of Concord, MA’s Municipal Affordable Housing Trust, MAPC past president and legislative committee chair urge our partners in the State House to include the transfer fee in the final version of the Affordable Homes Act. 🏘
Municipal Officials Stand Behind ‘Transfer Fee’ as Critical Tool for Keeping Region Affordable
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U.S.Rep. Becca Balint, D-Vt., unveiled an ambitious $500 billion federal housing bill during a press conference and affordable housing tour in downtown Bellows Falls, Vermont on Monday. Named the "Community Housing Act, (CHA)" this bill aims to confront the substantial challenges associated with the housing crisis, both in VT and nationwide. Rep. Balint emphasized "The Community Housing Act is designed to tackle some of the biggest barriers to addressing our housing crisis, here in Vermont and across the country. CHA offers creative solutions and big, bold investments. Hundreds of billions of dollars in housing investments. Because that’s what’s needed.” To learn more about the Community Housing Act read this Brattleboro Reformer article below! #CommunityHouisngAct #AffordableHousing #CommunityDevelopment #SustainableLiving #CommunityInvestment #EconomicEmpowerment #HousingForAll #SocialImpact #AffordableLiving #CapitalForChange #EnergyEfficiency #LocalImpact #BuildingCommunities #HousingSolutions
Balint, in Bellows Falls, unveils $500 billion federal housing bill
reformer.com
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Read this.
UP NOW on ImpactAlpha: In Kansas City, Mo., Troost Ave. divides the predominantly Black eastside from whiter and more affluent neighborhoods to the west. To overcome the eastside’s legacy of redlining, exclusionary zoning and blockbusting, two large mixed-use commercial real estate developments are pioneering a novel model for community ownership. LocalCode LocalCode Kansas City Ajia Morris Jeff Mendelsohn #ownershipeconomy Dive in: https://lnkd.in/eCE2-zdE
On east side of Kansas City, LocalCode adds community ownership to the real estate toolkit - ImpactAlpha
https://impactalpha.com
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From the article, "Crain’s Chicago Business recently published a piece on the high cost of building affordable housing, especially using the Low-Income Housing Tax Credit. This is the kind of article that tends to make many nonprofit affordable housing developers cringe and get defensive, while a few champions of cost containment in the industry cheer. My reaction is much more mixed, because I think there’s one thing that these reports tend to have in common—they conflate things that add cost in the short term but save cost in the long view with things that add cost but have little long-haul benefit. As a society we are pretty terrible about looking at the bigger picture and the longer term. In the affordable housing field, we have been trying to some degree to get better about that. For example, on the big-picture front, Housing First advocates have put together a lot of research reminding us that paying for housing is cheaper than the societal costs of homelessness. And on the long-term front, shared-equity homeownership and permanent affordability advocates have reminded us of the eventual consequences of short-term or temporary affordability measures that evaporate in less time than it takes to raise a child, as opposed to a single subsidy that can keep homes affordable for the indefinite future. What happens if we look at the list of arguments Crain’s gives about soaring costs, and think about the big picture? I see three examples where there is some legitimate debate, though it can go too far, and two where complaints are just short sighted."
Legitimate Debate or Short-Sighted Complaints? 5 Reasons Affordable Housing Is Expensive to Build
shelterforce.org
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It's so important to understand the history and build a new way forward. Affordable housing has come a long way and the best days are ahead.