Forbes, January 6, 2020 How Whole Communities Benefit From Affordable Housing (continued)
the incorporation of new and enhanced amenities and community spaces that were previously unavailable or poorly maintained. Crime at the property was reduced, allowing residents to finally feel safe and secure in their own homes. These successful efforts to improve conditions at the property convinced city officials to keep Nathanial Q. Henderson Elementary School open, providing another linchpin in the revitalization of the community. The bottom line is everyone in the affordable housing equation benefits from its creation and preservation. This includes those looking for homes they can afford, the local businesses that serve them, and the investment and development teams that provide the housing that helps keep a community vibrant and prosperous.
behooves cities to court more development. Professionals seeking to capitalize on this interest can perform the necessary due diligence, and often partner with a knowledgeable not-for- profit developer to make the process go smoother. Sometimes the addition of affordable housing can have long- lasting social benefits as well. In this era of impact and ESG investing, these benefits cannot be undervalued. For instance, in our foundation’s preservation of an affordable housing development in Houston, it was found that the development played a major role in increasing neighborhood security and lowering crime. Following the renovation of the neglected low-income housing property in an underserved neighborhood, resident quality of life drastically improved with
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