The chair of the Community Development Trust makes the case for the new potential of private sector investments in affordable housing.
"History and politics tell us that government subsidies alone will not solve the dearth of affordable housing. Private developers and private capital are needed," according to an op-ed written by Nicolas P. Restsinas.
Retsinas's argument assumes that "neighborhoods should be affordable for working families should cheer this arrangement" and "[the] need for affordable housing is clear." But in light of the stagnation on the part of the public sector in creating viable solutions for the challenge, Retsinas suggests another hero: the private sector.
Retsinas lists a few examples of the ways that the private sector is making positive impacts on the nation's affordable housing crisis, including loans and investments enabled by the Community Reinvestment Act, "mission" investing, funding for affordable housing projects from Real Estate Investment Trusts (REITs). Retsinas especially focuses on REITs as a "bridge to the capital desperately needed to house low-income Americans."
FULL STORY: Public-Private Alliance Can Solve Affordable Housing Crunch
Game Changer for Housing Nonprofits: REITs
Tired of not closing deals to preserve affordable housing due to delays in public financing, the nonprofit Housing Partnership Network created a real estate investment trust. The results have been "game changing."
More Fallout on Affordable Housing from Tax Bill
While the low income housing tax credit was retained, banks will be much less willing to purchase them due to their reduced corporate tax rate. That's just one way H.R. 1 will exacerbate divisions between the rich and poor in America's cities.
How Affordable Housing Can Compete
With the backing of powerful nonprofit and for-profit investors, the Housing Partnership Equity Trust is making waves with its triple bottom line approach to affordable housing. More importantly, it’s making money.
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The Tesla Cybertruck was recalled seven times last year.
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Thousands of essential park workers were laid off this week, just before the busy spring break season.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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