Innovations in Preserving Affordable Housing from around the United States
Preserving existing affordable housing is critical for closing the gap between supply and demand for decent, safe, and affordable housing. Debates around affordable housing tend to be dominated by new construction, but preservation offers several benefits: it generally costs less than new construction, it prevents displacement, and it takes advantage of existing land-use patterns. While building new affordable housing is tough, acquiring and rehabilitating existing affordable housing is not easy either. Developers need to weave together federal, state, and local funding sources; employ state and municipal policy tools; and seek collaborative relationships with stakeholders.
To better understand how affordable housing preservation happens, we highlight cases from around the country where developers have navigated complex policy and financing environments to preserve affordable housing. These case studies represent a range of contexts but offer wider lessons for people working to preserve affordable housing.