Affordable housing by country

Amazon Launches $2 Billion Housing Equity Fund to Make Over 20,000 Affordable Homes Available for Families in Communities It Calls Home

Retrieved on: 
Wednesday, January 6, 2021
MEN, Family, Philanthropy, Consumer, Residential Building & Real Estate, Construction & Property, Fund Raising, Foundation, Public relations, Investor relations, Women, Communications, Other Philanthropy, Affordable housing, Housing in the United States, Affordable housing by country, Howard County Housing and Community Development

Amazons Housing Equity Fund will help preserve existing housing and help create inclusive housing developments through below-market loans and grants to housing partners, traditional and non-traditional public agencies, and minority-led organizations.

Key Points: 
  • Amazons Housing Equity Fund will help preserve existing housing and help create inclusive housing developments through below-market loans and grants to housing partners, traditional and non-traditional public agencies, and minority-led organizations.
  • The Fund underscores Amazons commitment to affordable housing and will help ensure that moderate- to low-income families can afford housing in resource-rich communities with easy access to neighborhood services, amenities, and jobs.
  • This new $2 billion Housing Equity Fund will create or preserve 20,000 affordable homes in all three of our headquarters regionsArlington, Puget Sound, and Nashville.
  • In each of these areas, Amazon is targeting households making between 30% to 80% of the areas median income (AMI).

Article - How Parliament wants to end homelessness in the EU

Retrieved on: 
Tuesday, November 24, 2020
Articles, Organizations, Affordable housing, Economic inequality, Housing, Housing First, Homelessness, European Union, Affordable housing by country, Supportive housing

Additionally, Parliament calls on EU countries to adopt the principle of "housing firs", already successfully introduced by several countries.

Key Points: 
  • Additionally, Parliament calls on EU countries to adopt the principle of "housing firs", already successfully introduced by several countries.
  • Contrary to more traditional approaches, the "housing first" model seeks to move homeless people into permanent housing as quickly as possible before addressing other issues.
  • Lack of affordable housing is a growing problem

    Despite substantial differences between EU countries, the lack of affordable housing is a growing problem, with house prices rising by 5.2% in the EU in the second quarter of 2020 compared to the same quarter of 2019.

  • Parliament is also working on proposals for decent, affordable housing and inclusive housing markets.

DHA, Housing Solutions for North Texas Set to Disburse $1 Million in CARES Act Rent Assistance for Dallas Residents Impacted by COVID-19

Retrieved on: 
Wednesday, October 28, 2020
Other Government, Residential Building & Real Estate, State, Local, Construction & Property, Public policy, Government, Public housing in the United States, Affordable housing, Federal assistance in the United States, Section 8, United States Department of Housing and Urban Development, CARES Act, Economic inequality, Federal government of the United States, United States, Affordable housing by country

DHA, Housing Solutions for North Texas (DHA) is scheduled to disburse $1 million in its first wave of CARES Act Rent Relief to eligible Dallas residents who applied in the first month of the program.

Key Points: 
  • DHA, Housing Solutions for North Texas (DHA) is scheduled to disburse $1 million in its first wave of CARES Act Rent Relief to eligible Dallas residents who applied in the first month of the program.
  • The CARES Act rent assistance funding is through the City of Dallas and is not affiliated with the Housing Choice Voucher program.
  • Families who already receive assistance from DHA or any other affordable housing resource are not eligible for this temporary CARES Act assistance.
  • DHA, Housing Solutions for North Texas provides quality, affordable housing to low-income families and individuals through the effective and efficient administration of housing assistance programs.

Construction Begins on 80-Unit Affordable Housing Community with Help From $500K Grant

Retrieved on: 
Friday, October 23, 2020
Professional services, Philanthropy, Residential Building & Real Estate, Other Philanthropy, Construction & Property, Banking, Affordable housing, Regional science, Affordable housing by country, Howard County Housing and Community Development

(Photo: Business Wire)

Key Points: 
  • (Photo: Business Wire)
    The grant was awarded to the Gulf Coast Housing Partnership (GCHP) for construction of the affordable housing development.
  • South Mississippi Housing and Development Corp. (SMHD) partnered with GCHP to redevelop the housing community.
  • The site was transferred from MRHA VIII to SMHD in January 2008 to be operated as an affordable housing community known as North Park Estates.
  • The Affordable Housing Program funds allow GCHP to continue our mission of providing quality affordable housing to residents along the Gulf Coast.

Partnership to help create 5,000 new affordable homes across Canada

Retrieved on: 
Friday, September 18, 2020
Affordable housing, Affordable housing in Canada, Housing in Canada, Articles, Economic geography, Economic inequality, Canada Mortgage and Housing Corporation, Affordable housing by country

Thanks toinvestments made by the Government of Canada and a unique partnership with the United Church of Canada, up to 5,000 new affordable housing units will be built across the country over the next 15 years.

Key Points: 
  • Thanks toinvestments made by the Government of Canada and a unique partnership with the United Church of Canada, up to 5,000 new affordable housing units will be built across the country over the next 15 years.
  • The Affordable Housing Innovation Fund is a $200 million initiative through the National Housing Strategy that has been instrumental in creating the next generation of housing in Canada.
  • The goal of the Innovation Fund is to encourage new funding models and innovative building techniques in the affordable housing sector.
  • "Innovative approaches will help build more affordable housing in Canada, addressing the need we have across this country.

$315K Grant to Help Refurbish 40 Affordable Rental Units in Jackson, Mississippi

Retrieved on: 
Wednesday, September 2, 2020
Professional services, Philanthropy, Residential Building & Real Estate, Other Philanthropy, Construction & Property, Banking, Affordable housing, Articles, Regional science, Economic inequality, Public housing, Economic geography, Zoning, Howard County Housing and Community Development, Affordable housing by country, BancorpSouth Bank, the Federal Home Loan Bank of Dallas

With this project, we will provide renovated, affordable housing to families in various areas of Jackson, said Timothy Collins, executive director of Mississippi Housing Partnership.

Key Points: 
  • With this project, we will provide renovated, affordable housing to families in various areas of Jackson, said Timothy Collins, executive director of Mississippi Housing Partnership.
  • It is our hope that these 40 rental units will help improve neighborhood stability by addressing economic and quality-of-life concerns of our low-income families.
  • Of that, $4.6 million was awarded to Mississippi projects, and will result in 466 new or rehabilitated housing units.
  • By partnering with BancorpSouth, we are able to help Mississippi Housing offer these renovated units to low-income families at affordable rents.

Freddie Mac: New Research Shows Affordable Housing Shortage Persists

Retrieved on: 
Wednesday, August 26, 2020
Affordable housing, Economic inequality, Housing crisis, Affordable housing by country

Building on last years Diminishing Affordability Inescapable report, the new study isolates renter income to more accurately capture the availability of affordable housing to individual renters.

Key Points: 
  • Building on last years Diminishing Affordability Inescapable report, the new study isolates renter income to more accurately capture the availability of affordable housing to individual renters.
  • Rental affordability continues to be a major issue as demand remains high and supply of affordable housing is both insufficient and more likely to decline than it is to grow, said Steve Guggenmos, vice president of Multifamily Research and Modeling at Freddie Mac.
  • Our research demonstrates the need to focus on and understand the complexities of rental affordability as we continue to address the affordable housing crisis in this country.
  • Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide.

Greystone Affordable Development Preserves 802 Affordable Housing Units in Texas During Pandemic

Retrieved on: 
Monday, July 20, 2020
Regional science, Housing, Economic geography, Texas State Affordable Housing Corporation, Rural housing, Texas Department of Housing and Community Affairs, Affordable housing, Low-Income Housing Tax Credit, Affordable housing by country, Howard County Housing and Community Development

Utilizing the housing industrys critical 4 Percent Low Income Housing Tax Credit (Housing Credit), which is currently in crisis due to historically low rates, Greystone Affordable Development will redevelop, modernize and secure affordable rental homes for thousands of Texans.

Key Points: 
  • Utilizing the housing industrys critical 4 Percent Low Income Housing Tax Credit (Housing Credit), which is currently in crisis due to historically low rates, Greystone Affordable Development will redevelop, modernize and secure affordable rental homes for thousands of Texans.
  • Hamilton Valleys portfolio of affordable housing properties for this transaction includes 23 aged USDA Rural Development Section 515 properties, comprising 802 apartment homes serving low-income households in 14 counties across Texas.
  • Greystones affordable housing preservation group worked closely with USDAs Rural Housing Service (RHS) Texas State Offices, as well as the Texas State Affordable Housing Corporation and Texas Department of Housing & Community Affairs to coordinate and secure the financing needed to acquire and rehabilitate this at-risk and much-needed housing.
  • We thank the development team, investment partners, the Texas office of USDAs Rural Housing Service and the Texas housing agencies Texas State Affordable Housing Corporation and Texas Department of Housing & Community Affairs, as well as Texas Housing Foundation for their continued partnership.

New PAHRC Research Finds That Publicly Supported Housing Provides Housing Stability, Leads to Health Improvements in Older Adults

Retrieved on: 
Tuesday, July 14, 2020
Regional science, Academic disciplines, Deinstitutionalisation, Public housing, Supportive housing, Articles, Affordable housing, Affordable housing in Canada, Affordable housing by country

CHESHIRE, Conn., July 14, 2020 /PRNewswire-PRWeb/ --Publicly supported housing provides stability to low-income older adults, which helps them age in place more easily than their low-income peers who do not live in publicly supported housing, according to new research from the Public and Affordable Housing Research Corporation .

Key Points: 
  • CHESHIRE, Conn., July 14, 2020 /PRNewswire-PRWeb/ --Publicly supported housing provides stability to low-income older adults, which helps them age in place more easily than their low-income peers who do not live in publicly supported housing, according to new research from the Public and Affordable Housing Research Corporation .
  • Homes made affordable through public programs benefit low-income older adults in other key ways as well, which can help them better age in place.
  • The report found that low-income older adults who live in publicly supported homes:
    Report higher levels of social interaction33 percent report having 10 or more friends, compared to just 17 percent of low-income older adults who do not live in publicly supported homes; and
    PAHRC's research also found that seniors who live in publicly supported housing have unique needs related to their care as they age.
  • The Public and Affordable Housing Research Corporation delivers research, data, and tools to housing providers, policymakers, affordable housing advocates, and others who are working to help families achieve the benefits of an affordable home or increase the supply of affordable housing.

A new era of social rented housing in England?

Retrieved on: 
Tuesday, July 14, 2020
Affordable housing, Housing in the United Kingdom, Academic disciplines, Economy, Humans, Public housing, Urban renewal, Private rented sector, Housing Benefit, Homelessness, Affordable housing by country, Housing association

Why social rented housing? Social rented housing has historically delivered rents at around 50% of market rates along with long-term security of tenure, so it is perhaps inevitable that there are widespread calls for a large-scale delivery programme to revitalise the sector and address housing deprivation.

Key Points: 

Why social rented housing?

    • Social rented housing has historically delivered rents at around 50% of market rates along with long-term security of tenure, so it is perhaps inevitable that there are widespread calls for a large-scale delivery programme to revitalise the sector and address housing deprivation.
    • These calls pre-dated the coronavirus (Covid-19) pandemic but they have been given new impetus with evidence pointing to connections between inadequate housing and poor health outcomes in the context of Covid-19.
    • They are also less likely to own their home, and more likely to be private renting than white households.


    Other arguments advanced in favour of social rented housing include the need to move rising numbers of homeless households out of temporary accommodation; unaffordability in the private rented sector; and the potential to reduce expenditure on housing benefits by moving private renters into social housing. Commentators also argue for a social housing delivery programme to provide an economic stimulus, pointing to housebuilding as a proven form of counter-cyclical investment.

How much social rented housing is needed?

  • Current levels of development are significantly below various estimates of identified need for social rented housing:
    • Shelter’s commission on the future of social housing published A Vision for Social Housing in January 2019 which recommended a total of “3.1 million more social homes” be built over a 20-year period, representing an average of 155,000 new homes per year.
    • Research conducted by Heriot-Watt University, published in 2018, for the National Housing Federation (NHF) and Crisis, called for 340,000 new homes each year up to 2031. This research identified a need for 145,000 affordable homes per year of which 90,000 should be for social rent.
    • The Affordable Housing Commission, which reported in March 2020, called for a rebalancing of provision between the social rented and private rented sectors. Specifically, the Commission endorsed the imperative of providing at least 90,000 homes to let at social rents per year.
    • These organisations recommend increasing the supply of social rented housing as a remedy for unmet housing need, evidenced by increasing numbers of homeless households in temporary accommodation and growing overcrowding in the social and private rented sectors.
    • The social housing sector has declined in size in the long-term.
    • Around 93% of social housing providers stock was let at social rent in 2018/19, compared with 98% in 2012/13.
    • The focus on Affordable Rent and affordable home ownership products has meant that new supply of homes for social rent has declined.
    • This is a sharp decline compared with the period before 2011/12, when social rent made up the majority of affordable housing supply.

Prospects

    • The Government envisioned that lifting the caps would enable councils to build around 10,000 new homes per year.
    • The sector was optimistic, research identified a clear appetite amongst authorities to take advantage of the new borrowing freedoms.
    • This optimism existed despite the existence of other barriers, such as limited grant funding and restrictions on the use of Right to Buy receipts.
    • The March 2020 Budget announced funding over five years from 2021 for the Governments Affordable Homes Programme: an additional 9.5 billion for the Affordable Homes Programme.
    • In total, the programme will allocate 12.2 billion of grant funding from 2021-22 to build affordable homes across England.
    • The Covid-19 outbreak and subsequent lockdown have shifted the landscape in ways that are still becoming apparent.
    • The experience of the post-2008 financial crisis is leading commentators to predict a contraction in the construction industry as the economic downturn takes hold.
    • The NHF has launched a Homes at the Heart campaign which is described as a national campaign and coalition calling for a once-in-a-generation investment in social housing.
    • It seems likely that the housing sector will look towards the forthcoming Comprehensive Spending Review as an opportunity to further press the case for a large-scale social housing delivery programme.