Workforce Housing Archives

Over the past decade, few segments of the population have felt the squeeze of the country’s affordable housing crisis as acutely as middle-income households earning between 60 and 120 percent of the area median income. Earning too much to qualify for most government-subsidized housing programs but too little to afford the majority of new housing stock entering the market, these renters are finding themselves less and less able to secure high-quality housing within their means.

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.

Most National Council of Housing Market Analysts (NCHMA) annual meetings begin with a roundtable from developers, to help ground the conference in the ‘on the ground’ work that the market analysis industry exists to support.

As an increasing number of cities and states develop programs to subsidize housing for middle-income earners, policymakers must ensure that middle-income programs don’t take vital resources from low-income housing programs.

Developers can partner with Public Housing Authorities (PHA) issuing General Revenue bonds to achieve workforce housing solutions that are superior to using traditional real estate finance, according to Sam Adams, managing director of capital markets at KeyBanc Capital Markets (KBCM), which issues such bonds.

For much of the past 14 years, Will Eckstein has led the team responsible for securing new affordable housing development opportunities at Greystone Affordable Development,. Tax Credit Advisor sat down with Eckstein to learn more about HHAD and his priorities for the balance of 2024. 

The sound environment around a housing project can be a great addition to the amenities of a property – or an albatross around its neck.

Federal Affordable/Workforce Housing Legislation Déjà Vue 

Many affordable and workforce housing projects have bucolic names referring to picturesque surroundings, like the Stone Mill or Smith Ranch Apartments.

Developers and state housing agencies are scrambling to find programs that will help workers in expensive communities be able to live in the same towns they work in.

Today’s cities generally emphasize cohesion and citywide vibrancy, and many municipalities are focused on the creation of mixed-income communities.

While for-profit and nonprofit affordable housing developers can have different approaches to tax credit projects, there is one thing they generally agree on—the need for high-quality resident services for their populations.