It’s More Than An Affordable Home - It’s A Viable CommunityJanuary 7, 2022 – Publications / Mentions
In our “Reimagining Real Estate” series, attorneys from the firm’s market-leading real estate practice talk about current trends, hot topics, and shifts in the commercial real estate industry. This month, we partnered with Bisnow to discuss affordable housing.
The affordable housing crisis has grown so dramatically that developers, local governments and contractors across the country are focused on how to address it. The issue even has caught the attention of major players in commercial real estate, as seen in Blackstone's purchase of AIG’s affordable housing assets in a $5.1B deal brokered by CBRE last year.
However, one of the many factors holding back the U.S. from getting the 6.8 million additional affordable units it needs is the complex and slow-moving process of arranging financing and obtaining local government approvals of new affordable housing projects. This can tempt some developers to abandon their projects.
Attorney D. Hara Perkins spoke with Bisnow to discuss how developers can maintain momentum and keep sight of what they are trying to accomplish with their affordable housing projects.