Overview
Perserving Affordability is designed as a hub for detailed information about HUD-assisted, USDA-financed or LIHTC multifamily rental housing. For-profit and non-profit owners or sponsors can access professionals and information for recapitalizing, restructuring, rehabilitating and ensuring continued affordability.
Case studies highlight individual challenges and strategies used to reposition actual properties. Uploading your own case studies and links to housing resources is encouraged.
Please comment and share your experiences and expertise or pose questions about the challenges of your properties.
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HDC MidAtlantic dedicates Ruoff Tower, preserves senior housing
The ceremony capped a year’s worth of construction that included renovations of all 20 handicapped accessible apartments, upgraded kitchens in many apartments, new ceiling tile, fresh paint, new carpet and air…
ContinuePosted by HDC Administrator on November 9, 2011 at 3:00pm
Saving an obsolete HUD senior property from insolvency and keep affordable units affordable
By Tara Mizrahi, Vice President
Affirmative Investments
Affirmative Investments and Presbyterian SeniorCare worked together in 2010 to recapitalize and reconfigure York Commons, an aging and obsolete elder HUD property in the Lawrenceville community of Pittsburgh, to save it from insolvency and preserve affordable units. Read the full case study here:…
ContinuePosted by HDC Administrator on March 15, 2011 at 10:30am
Raising equity with 9% Low Income Housing Tax Credits
By Brian Poulin, Principal, Evergreen Partners, LLC, and Arnold Heller, High Swartz, LLP
Alpha Particles Limited Partnership, an affiliate of Evergreen Partners LLC based in Portland, Maine, purchased Rutherford Park Townhouses, located near Hummelstown, Dauphin County, Pa. The facility consists of 11 separate townhouse…
ContinuePosted by HDC Administrator on February 25, 2011 at 10:30am
Retrofitting multifamily apartment buildings could be a "magic pill"
Late last year, the Urban Institute published a paper that offers a solution to save $1 billion by retrofitting multimfamily apartment buildings and making them more efficient. Per the executive summary, "This paper posits that there is already available to the federal government a 'magic pill' offering the possibility of over $1 billion in annual savings, improved longevity, health, affordability, and thousands of new jobs."
Read the…
ContinuePosted by HDC Administrator on February 7, 2011 at 4:00pm
Placing affordable housing near transportation
The Urban Institute recently did a research paper on the impact of having public transportation and access to transit in close proximity to affordable housing. The paper goes into significant detail about the challenges and makes recommendations about effective policies that could improve access to public transportation. You can read the report here:…
ContinuePosted by HDC Administrator on February 7, 2011 at 3:31pm
HUD 202 Refi/Rehab
Lancaster House South (“LHS”) is located at 315 North Prince Street in Lancaster, PA. The facility consists of an 11-story, 150-unit apartment building for elderly and disabled residents which was built in 1979. The first floor of the building also includes leasing/management offices and several community rooms. The building was in fair to good condition but has felt the…
ContinuePosted by HDC Administrator on January 7, 2011 at 3:30pm
HDC Spotlight
White Paper: The PA Problem
Expenses are high and rents are low - what is needed to keep aging LIHTC properties operating in the black? An operating subsidy financed from the Pennsylvania Housing Trust Fund could be the key to effectively meeting this portfolio's pressing needs for rehabilitation and recapitalization.
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