Friday, August 19, 2011

NeighborWorks’ Focus on Innovations in Affordable Rental Housing

In today’s turbulent economy, working families need consistent access to affordable housing more than ever. Changing family work situations, the unabated foreclosure crisis and more stringent mortgage loan requirements mean that for millions of families, renting an apartment or house is the only option. This has resulted in a sharp increase in the demand for affordable rentals, a critical need that NeighborWorks organizations are meeting in neighborhoods and communities across the country.

eighborWorks America has focused on asset management since we began providing national services to our network’s providers of rentals. As a result, over 175 NeighborWorks organizations successfully provide affordable homes that 80,000 families and seniors are proud to call home. These apartments and rental houses are safe, great looking, energy-efficient and well managed. Many of our affiliates also offer highly effective services — to more than 100,000 residents — to help them succeed. Children succeed in school and parents succeed in saving, improving credit scores, and managing their budgets.
Written by Frances Ferguson, Senior Manager
National Real Estate Programs
NeighborWorks America

NeighborWorks America continues to look at the best ways of supporting our network and other nonprofit providers of rental housing, particularly as federal, state and local budget cuts of program services put strains on the affordable housing industry. 

At the next symposium on December 14 in Washington, DC, NeighborWorks will explore how nonprofits of various sizes and market areas are adjusting and innovating to sustain and grow the numbers of people they can serve through affordable rental housing. This symposium, Building on Strength: Invigorating Business Models for Affordable Rental Housing in the New Era, will focus on practical solutions to the capital gaps in affordable rental housing development by highlighting examples of organizations developing new partnerships, new types of real estate transactions, and new business models.

Between 2004 and 2010, the number of renters in the U.S. grew by nearly 4 million. Success at delivering much-needed affordable rental housing in the future may mean that nonprofit housing providers will have to look at new business strategies for long-term sustainability. To join the discussion about this very timely and important issue, register for the symposium at