NYU Furman Center

You're Invited! Join Martha M. Galvez, the Executive Director of the NYU Furman Center’s Housing Solutions Lab, at the Affordable Homeownership Summit on Friday, October 18th, starting at 8 A.M. ET. Hundreds of leaders, policymakers, lenders, and advocates will convene to discuss, envision, and explore rising issues, innovative solutions, and best practices concerning homeownership for low- and moderate-income homeowners from work on the ground to policy made at the highest level. The theme of this 11th annual edition of the Affordable Homeownership Summit is Transforming the Future, One Home at a Time. Martha M. Galvez will speak on the Strategic Equity in Home Preservation panel alongside: - Julian St. Patrick Clayton, Director of Policy & Public Affairs, Center for NYC Neighborhoods - Paul Keifer, Managing Integration Officer, Bank of America? - Jill Roberts, Vice President of Advocacy, Clarifi - Terri Davis-Merchant, Senior Program Director, Housing & Homelessness, Trinity Church NYC Wall Street (moderator) Register for the Affordable Homeownership Summit here: https://lnkd.in/eiUW_y8A?

Thank you to Susan Camerata of Wavecrest Management Team and John A. Crotty of Workforce Housing Group Llc for a riveting and insightful conversation about the Affordable Housing's Liability Insurance Program, "A New Path Forward." They presented their new project to address the excessively high premiums that affordable housing developments pay for liability insurance.

The NYU Furman Center’s Housing Solutions Lab will host a webinar on publicly-driven housing development models in the U.S. and globally on Thursday, October 24, at 1 P.M. ET. The webinar will discuss The Emerging Spectrum of Government-Led and Publicly-Owned Housing Development Models, a new brief from the NYU Furman Center and its Housing Solutions Lab that analyzes nine cases spanning eight states in which state or local governments act as developers, investors, or long-term owners to drive government-led housing development: https://buff.ly/3NcaVVo Our panel conversation, led by Claudia Aiken, Director of New Research Partnerships, Hayley Raetz, Policy Director, and Tony B., Data and Policy Analyst at the NYU Furman Center and its Housing Solutions Lab, will draw on the expertise of our panel to discuss the motivations for, promise, and challenges of public development. Joining our panel will be: - Matt Bedsole, Director of the City of Atlanta’s Housing Innovation Lab - Emily Gallagher, New York State Assemblymember for District 50 - Marc Jahr, Senior Advisor at Forsyth Street and former president of the New York City Housing Development Corporation - Zachary Marks, Senior Vice President of Real Estate at Montgomery County, Maryland’s Housing Opportunities Commission? - Zach Martinez, Legal Counsel and Policy Advisor at Colorado’s Gary Community Ventures Register here to join the live session, where you will be able to ask the panelists your questions: https://lnkd.in/emGKe7UV?

Join?NYU Furman Center’s Faculty Director Vicki Been as she moderates a panel discussion at New York University School of Law, “The Housing Affordability Crisis Forum” tomorrow, Wednesday, October 16, at 1:10 P.M. ET. She will be joined by a panel of experts who will explore what the federal government’s role in making housing more affordable could and should be. Panelists will discuss what policy choices are best made at the federal rather than state or local level and offer their assessments on current proposals for federal interventions. The panel will offer a range of views about the legal, financial, and implementation risks and opportunities the proposed policies pose, as well as the effects they might have on the allocation of power between the federal and state governments and on the political process. Panelists joining Vicki Been for the discussion will include: - Marie Louise Carroll, Partner and Co-Chair of the Affordable Housing and Community Development Practice, Katten Muchin Rosenman LLP - Andrew Fine, Chief of Staff and Policy Director, Open New York - Lucy Joffe, Associate Commissioner for Housing Policy, New York City Department of Housing Preservation and Development - Don Layton, Senior Visiting Fellow from Practice, NYU Furman Center Register for the NYU School of Law’s Housing Affordability Crisis Forum here: https://lnkd.in/euJi-2rU?

Please join the NYU Furman Center for a virtual lunchtime presentation on Affordable Housing's Liability Insurance Program, "A New Path Forward," with Susan Camerata of Wavecrest Management Team and John A. Crotty of Workforce Housing Group Llc, tomorrow, October 15, at 12:30 P.M. ET. The Milford Street Association was founded by a group of affordable housing developers to confront and mitigate the unsustainable rise in liability insurance costs. Liability insurance expenses in NY have surged beyond the capacity of basic operational costs and rents, causing many affordable housing projects to face total collapse. Despite this looming crisis, the government has shown little inclination or capacity to intervene. The Milford Street Captive is both an economic and operational platform designed specifically for the affordable housing sector. Its creation represents a decisive act of self-preservation by its owners and managers, intended to protect and preserve affordable housing as an indispensable resource for the residents of our City and State. Register for the NYU Furman Center’s Fall Speaker Series presentation here: https://lnkd.in/e_4BfX6d?

Join Martha M. Galvez, the Executive Director of the NYU Furman Center’s Housing Solutions Lab, at the Urban Institute’s Event on Sustainable Homeownership and Wealth Preservation for Communities of Color on Thursday, October 17, starting at 12 P.M. ET. Homeownership is a primary contributor to health and wealth outcomes, particularly for households of color, but historical and systemic discrimination have prevented disenfranchised communities from achieving, maintaining, and experiencing homeownership’s benefits. Join the Urban Institute and the RWJF for an event where they present new research findings and participate in evidence-based discussions about loss mitigation, home repair and preservation, and climate risk. Martha M. Galvez will speak on the Housing Quality and Wealth Building through Homeownership Preservation panel alongside: Sarah Edelman, U.S. Department of Housing and Urban Development Megan Sandel, Boston Medical Center (BMC) Damon Thompson, Local Initiatives Support Corporation Michael Neal, Urban Institute (moderator) Register for the Urban Institute’s Sustainable Homeownership and Wealth Preservation for Communities of Color event here: https://lnkd.in/eRrA-sPH?

Thank you to our esteemed panel for participating in the NYU Furman Center’s Policy Breakfast on Oct. 9 and for an insightful and invigorating discussion on the growing calls for state and local governments to play a more direct role in investing, financing, building, and owning new housing. Nicole Ferreira, President, CPC Mortgage Company RuthAnne Visnauskas, Commissioner, New York State Homes & Community Renewal Sherry Wang, Managing Director, Goldman Sachs, Urban Investment Group? Stockton Williams, Executive Director, National Council of State Housing Agencies (NCSHA)

The NYU Furman Center and its Housing Solutions Lab’s new policy brief outlines a number of unique considerations for policymakers who are interested in emerging models of public development and ownership in their own jurisdictions. 1. Public developers must balance the goal of creating affordable housing with the need for financial feasibility. 2. Public entities would face unique risks in real estate development, from market fluctuations to construction and operational challenges. Strong underwriting capacity, dedicated risk management strategies, and the ability to adapt to market cycles are critical for long-term success. 3. Leveraging and Maximizing Existing Subsidies: Alongside any new development efforts, public entities should maximize federal programs (e.g., LIHTC, HUD’s Rental Assistance program, and federal risk-sharing programs) to finance any new affordable housing development. 4. The effectiveness of public development would still depend on local zoning, construction costs, and market rent levels. Policymakers should build local expertise and adapt to local needs while using resources that private or non-profit developers cannot fill. 5. Long-term sustainability involves planning for the life cycle of properties, including re-capitalization for aging systems and quality management. Learn more about the emerging models of public development and their policy considerations in the NYU Furman Center and its Housing Solutions Lab’s new Policy Brief ?? https://lnkd.in/ew-pd_Zs

Public developer models in the U.S. mainly fall into three groups, according to a new policy brief by the NYU Furman Center and its Housing Solutions Lab. Based on interviews with stakeholders and experts, programmatic documents, and underwriting materials, researchers at the NYU Furman Center and Lab developed a typology of public developer models. They are broadly categorized as follows: ?? Group A: Mixed-Income Development with Public Equity Investment Public entities use revolving loan funds to finance mixed-income developments, aiming to secure long-term public ownership stakes. These models leverage market-rate rents to cross-subsidize affordable units and appear to be most feasible when built on public land and paired with local investments. Examples include Montgomery County, Maryland’s Housing Production Fund and Atlanta’s Urban Development Corporation. ?? Group B: Public Housing Conversions PHAs use federal programs like Faircloth-to-RAD to redevelop existing public housing and add units. These models retain some form of public ownership and leverage additional subsidies through Section 8 funding to support deeply affordable units. They address capital improvement needs and expand the public housing supply while navigating financing gaps and Faircloth capacity limitations. ?? Group C: Fully Affordable Housing Models Long-standing models like those in Dakota County, Minnesota, and Idaho’s The Housing Company showcase how publicly driven development can sustain long-term affordability without relying on the Low-Income Housing Tax Credit (LIHTC). These models use dedicated funding streams and portfolios of smaller properties to cross-subsidize costs, highlighting how specialized entities can effectively focus on affordable housing needs. Learn more about the different models of public development and what cities can learn from them in the NYU Furman Center and its Housing Solutions Lab’s new Policy Brief ?? https://lnkd.in/ew-pd_Zs

WATCH LIVE at 8:45 a.m. ET: The NYU Furman Center’s Policy Breakfast panel on the growing calls for state and local governments to play a more direct role in investing, financing, building, and owning new housing. Our panel of experts — Nicole Ferreira, RuthAnne Visnauskas, Sherry Wang, and Stockton Williams, moderated by NYU Furman Center’s Executive Director Matthew Murphy— will explore the potential benefits and challenges of New York State taking a more active role in multifamily housing development, with a focus on mixed-income financing models that blend public and private investments. The discussion will also examine the challenges governments would face as developers, including managing risks and ensuring financial sustainability while achieving affordability goals. WATCH LIVE ? https://lnkd.in/eh5QPRa #housing #research #socialhousing #affordablehousing #housingcrisis