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For-profit affordable housing operators see trouble, survey says
['Lilah Burke']
New York - The Real Deal
New York’s for-profit affordable housing developers are in trouble.
That’s the takeaway from new data collected by the NYC Housing Partnership, a nonprofit organization that creates affordable housing through public-private partnerships.
The results add to the stable of analyses showing that affordable housing operators are in a tight squeeze.
The data comes from a survey of 57 owners and practitioners in affordable housing, taken in June.
For-profit affordable housing operators typically build with subsidies from the city, in return for fixing rents at certain below-market rates.