1 Crisis in Affordable Housing Development: Balboa Reservoir and Balboa Park Upper Yard Samantha Lewin Professor Dan Lindheim City Planning 180: Research Seminar Equity, Equitable Development, and Equitable Government May 2018 Executive Summary This...
More
1 Crisis in Affordable Housing Development: Balboa Reservoir and Balboa Park Upper Yard Samantha Lewin Professor Dan Lindheim City Planning 180: Research Seminar Equity, Equitable Development, and Equitable Government May 2018 Executive Summary This research aims to understand the crisis in affordable housing development in the context of two development projects: the Balboa Reservoir and the Balboa Park Upper Yard. The research was done mainly from the perspective of affordable housing non-profit developer Mission Housing Development Corporation, who is involved in both projects. It was found that public funding will only cover a third of the costs for these projects, leaving a large burden on Mission Housing to find private funding via financial leverage. Aside from that burden, additional issues with existing funding include reliance on private markets, reliance on economic cycles, lack of help at the federal level, and issues with Low Income Housing Tax Credits. All of these create
Less
