Survey: NHPF Unveils Critical Strategies for Affordable Housing Industry Amid New Challenges
New York, NY, October 16, 2024— The NHP Foundation (NHPF), a leader in mission-driven affordable housing, has released the results of its latest national survey, highlighting urgent challenges and innovative solutions in the affordable housing sector. The survey of over 200 industry professionals identifies key strategies to address financing barriers, sustainability, racial equity, and crime reduction amid rising costs and economic disparities.
KEY FINDINGS FROM THE NHPF SURVEY
• Expanding Financing Options: While the Low-Income Housing Tax Credit (LIHTC) remains a cornerstone, industry professionals emphasize the importance of alternative financing mechanisms. Survey respondents ranked equity crowdfunding and public-private partnerships (PPP) as promising new methods for expanding capital access. A 2024 report from the Federal Reserve Bank of Atlanta found that public-private partnerships can reduce the cost of capital by up to 25%, making them a crucial tool for affordable housing development. • Eliminating Development Barriers: Addressing high land costs, restrictive zoning laws, and lengthy permitting processes remains critical. Survey respondents indicated that reforms such as upzoning, community land trusts, and streamlined permitting could significantly boost affordable housing supply. • Modular Construction & Adaptive Reuse: Modular or component-based construction was identified as a top method for reducing costs and increasing efficiency. The survey also highlighted “recycling” older properties— demolishing and rebuilding with improved layouts—as an effective solution to affordability and sustainability challenges. • Resident Services & Crime Reduction: Survey results reinforce the value of onsite resident services—such as job training, childcare, and transportation assistance—as one of the most effective strategies for reducing racial inequality and crime in affordable housing communities. According to NHPF research, properties with robust resident services experience lower eviction rates and reduced crime levels. • Sustainability & Climate Resilience: With climate risks posing increasing threats, green building practices are a priority. Industry professionals ranked Passive House Design, net-zero energy housing, and modular construction as key innovations for reducing carbon footprints while enhancing affordability.
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THE NHP FOUNDATION
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