Reply to City of Alexandria rolls out timeline for massive housing reform project

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[quote=Anonymous]Posters don't seem to have ANY knowledge of affordable housing development, financing and construction. NONE. The majority of developers do not build affordable housing. Entities that do this are 501c3s, often religious based, that are able to afford building these types of structures because they are granted tax-exempt financing (tax credits that they sell on the secondary/tertiary market, loans financed with ARHA bonds, HUD program grants, etc). There are significant federal restrictions (in particular IRS and HUD). Then when these structures are built, you need to certify who can qualify to live in them, and many times that certification is done annually, so there is an ongoing relationship.

You average Joe or Jane developer is not doing this. This is public finance affordable housing (whether it is Section 8, workforce housing, senior housing, multifamily, etc).

Putting a bunch of ADUs in the neighborhood isn't doing this. Upzoning isn't going to motivate some developer to put in a six flex that they will then sell as a condo or rent as apartments to missing middle people. Posters are incredibly ignorant here. Public finance is a niche and clearly so many people need a real education on how it works, and how it has historically worked successfully and when it has not.[/quote]

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