Reimagining Funding For Affordable Housing
The City of Los Angeles, like many major U.S. cities, is facing a housing affordability crisis. While the city has a severe shortage of affordable housing, prices have grown four times faster than incomes since 2000. FUSE Fellow Frederick White worked with the Office of the City Administrative Officer and other departments to explore innovative financing vehicles to expand opportunities for development and help incorporate those models into a long-term housing strategy for the city.
Frederick’s work led to a series of recommendations that encouraged the city to expand its current housing preservation and development resources in a manner that aligns with Real Estate Capital Markets financing tools to incentivize developers to create mixed-income housing. His work will help forge new relationships between the city and the private real estate debt and equity sectors, leading to a better understanding of the private capital available for affordable housing development and preservation, ultimately leading to an increase in housing production within the city.