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The new rule is drawing criticism from some quarters. For example, Julia Gordon, senior director of Housing & Consumer Finance at the liberal-oriented Center for American Progress, takes issue with certain elements of the measure.
Thomas Edsall, a political columnist for the New York Times, argues that the affordable housing industry is largely responsible for the concentrated poverty characterizing the United States today.
Los Angeles Councilman Gil Cedillo (D) is pushing a proposal to use some $9 million in former redevelopment funds to help keep rent and housing costs low for hundreds of residential units in his district. If approved, it could become a model program for adoption by other districts in the city.
The initiative builds on the successful record of affordable housing lending under HUD’s existing Risk Sharing programs with state and local housing finance agencies as well as Fannie Mae and Freddie Mac.
Earlier this past week, city officials may stumbled upon a partial solution to Philadelphia's long-running battle to create more affordable housing.
Similar to other metropolitan areas around the nation, Los Angeles and its Southern California environs continue to face a shortage of affordable housing for low-income residents. Meanwhile, much of the affordable housing that’s available is at risk of being lost in the next few years due to the maturity of U.S. Department of Housing & Urban Development-subsidized mortgages.
Improving the energy efficiency of multifamily affordable housing could save billions of dollars for building owners and millions of low- and moderate-income renters who spend significantly more of their household income on utility bills than their more affluent neighbors, according to two groundbreaking studies released Tuesday (May 12).
Planners in Washington, DC are proposing a density bonus for developers who build affordable units with at least three bedrooms. The bonus would affect an area near the home stadium of DC’s major league baseball team, the Nationals. The three-bedroom condition is an effort by DC housing officials to ensure that the city's affordable-housing stock includes options for families.
Major tech companies in Silicon Valley are facing continued public frustration over their contribution to an increase in California’s overall cost of living -- including a spike in housing, a development that has not gone unnoticed by tech giant Google Inc.
If you're a housing developer who's hesitant about investing in energy efficiency for affordable housing units, consider the recent findings of researchers at Virginia Tech: Energy-efficient affordable housing units are helping some Virginia renters save an average of $648 annually.
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