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In the News: Turning Policy Into Action
Active affordable housing developers weigh in on how to make the most of the essential relationships that get a project off the ground.
If the difference between [market-rate apartment communities and affordable rental properties] had to be boiled down to just one word, that word would be “partnerships.”
Affordable housing developers need community buy-in and the support of entities that allocate state and federal low-income housing tax credits and other scarce housing resources. Without that support, the numbers simply won’t pencil out.
“You can have a compelling development, but if it doesn’t fit the priorities and allocation approaches of the funding sources, it’s not going to happen,” says Jim Grauley, Columbia Residential’s president and chief operating officer.
Capitol View in Atlanta is an example of the power of partnerships in the affordable housing sector.
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