Furman Center Receives MacArthur Foundation Support for Three-Year Housing Study
The MacArthur Foundation has awarded the Furman Center for Real Estate and Urban Policy funding for a Preservation Data Project-a new initiative that will track affordable housing in danger of converting to market rate rentals. The project will have three components: a database of affordable housing throughout New York City, including detailed information on the dates when restrictions on the housing's rents expire; an early warning/opportunity system for subsidized housing at risk of opting out or failing to meet the requirements of subsidy programs; and analytic tools for assessing the potential to preserve a subsidized property as affordable housing.
This three year project, funded under the MacArthur Foundation's Window of Opportunity: Preserving Affordable Rental Housing initiative, is a part of a wider effort by the New York City Department of Housing Preservation and Development to preserve affordable housing. The grant will allow the center -- a joint research center of New York University's Robert F. Wagner Graduate School of Public Service, and School of Law -- to create a new interactive database, available online, to allow government agencies, non-profits and community groups to track the tens of thousands of affordable rental units at risk of expiring out of the Federal Low Income Housing Tax Credit (LIHTC), HUD, Mitchell-Lama and HPD-financed programs.
In addition, it will allow us to develop systems and tools the entire affordable housing community can use to target properties that present the greatest risks and the highest potential for preservation.
The Furman Center is led by Ingrid Ellen, Associate Professor of Public Policy and Urban Planning at NYU Wagner, is the Co-Director of the Center.