Ensuring Affordability as Neighborhoods Transform
As community development increases throughout low-income neighborhoods, so do housing prices. Often, this trend displaces residents who were intended to benefit from socially-minded projects. How Housing Matters tackles the displacement conundrum in a new article, outlining the necessity of protecting and creating affordable housing in growing neighborhoods.
Federally subsidized affordable housing units and the conversion of publicly owned sites are two ways policy can insure low-income tenants are not forced to relocate. This is especially important for neighborhoods with large African American and Latino populations. Don Falk, Chief Executive Officer of the Tenderloin Neighborhood Development Corporation explains why such policies are crucial for families.
“It’s what a just and civil society is about,” states Falk. “The heart of equity is that everybody has an equal opportunity regardless of their background, their race, their culture, the circumstances they were born into.”
At LIIF, we strive to create public-private partnerships that create affordable housing and support residents in low income neighborhoods.