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Furman Center Receives MacArthur Award for Creative and Effective Institutions

Furman Center Receives MacArthur Award for Creative and Effective Institutions

The John D. and Catherine T. MacArthur Foundation named NYU's Furman Center for Real Estate and Urban Policy a recipient of the MacArthur Award for Creative and Effective Institutions. This distinguished award recognizes the Furman Center's excellence in providing objective, policy-relevant research to address the challenges facing neighborhoods in New York City and across the nation. The award, announced on February 16, comes with a grant of $1 million, which the Furman Center will use to broaden its research and policy analysis to more national issues.

"We are humbled and honored that the Furman Center was selected for such a prestigious award," said Vicki Been, faculty director of the Furman Center. "The demand for our work has grown dramatically with the housing crisis and the increasing need for sustainable and affordable housing across the country. This award presents a remarkable opportunity for us to expand our research beyond New York City to help policymakers in Washington and across the nation make more effective housing and community development investments and policies."

"Because we are based at New York University, and are a joint project of the NYU School of Law and the Wagner Graduate School of Public Service, we're able to draw on the talents of a diverse team of faculty and students to produce rigorous, interdisciplinary research on urban policy issues," Furman Center Co-Director Ingrid Gould Ellen said. "The MacArthur Award comes at a critical time, allowing us to continue to expand the work we've always done in New York City to cities and neighborhoods across the country, and to address a broader range of national issues and public policy debates."

From analyses of how subsidized housing investments affect neighborhoods, to studies of the impacts the foreclosure crisis has had on local crime, neighboring property values, tenants, and the educational trajectories of children, the Furman Center has been committed to producing objective and empirically rigorous research on pressing policy issues. Its policy breakfasts, roundtable discussions, and conferences bring thought leaders from all sectors and all points of view together to discuss topics ranging from new models for housing extremely low-income households to creative ways of addressing credit needs in a volatile and declining housing market. The Center launched an Institute for Affordable Housing Policy in 2010 to bring research, policy analysis, and debate about promising new ideas and innovative practices to bear on the challenges of creating cost-effective affordable housing programs. Through its annual State of New York City's Housing and Neighborhoods report, Quarterly Housing Updates, and Subsidized Housing Information Project, the Center provides essential data and analysis for the media, government agencies, non-profit housing providers, and affordable housing developers and financiers.

The award is both a recognition of the excellence of the Furman Center's prior research and policy analysis and an investment in the Furman Center's future. The Furman Center will use the grant to build data and research partnerships that will allow it to broaden the geographic scope of its research, strengthen and expand its policy analysis, and improve its communications and data management infrastructure.

More information, including an overview video about the Furman Center, is available here.

The Furman Center is one of only 15 organizations from six countries to be recognized today with the MacArthur Award for Creative and Effective Institutions. "From Chicago to Kampala, these extraordinary organizations demonstrate exceptional creativity and effectiveness," said MacArthur President Robert Gallucci. "They provide new ways to address old problems. They generate provocative ideas and they reframe well-worn debates. And their impact is altogether disproportionate to their size."

The MacArthur Foundation does not seek or accept nominations for its Creative and Effective Institutions awards. To qualify, organizations must demonstrate exceptional creativity and effectiveness; have reached a critical or strategic point in their development; show strong leadership and stable financial management; have previously received MacArthur support; and engage in work central to one of MacArthur's core programs.

 

 

Furman Center Releases "15 Years of Research, Analysis and Insight"

Furman Center Releases "15 Years of Research, Analysis and Insight"

Over the past 15 years, the Furman Center has been committed to the highest standards of interdisciplinary empirical and legal research about housing, land use, real estate, and urban affairs. This report looks back at the Furman Center’s past research, events and reports in four focus areas: Housing Finance and Foreclosures, Affordable Housing, Land Use Regulation, and Neighborhood Change.

Furman Center Releases "Reducing the Cost of New Housing Construction in New York City: 2005 Update"

Furman Center Releases "Reducing the Cost of New Housing Construction in New York City: 2005 Update"

The Furman Center for Real Estate and Urban Policy releases Reducing the Cost of New Housing Construction in New York City: 2005 Update. This report contains the results of an investigation into two related questions: (1) to what extent does the cost of building housing in New York City exceed the cost of construction in other large American cities and (2) what steps can government and the private sector take to reduce the cost of housing development.

Furman Center releases new study on racial segregation and subprime lending

Furman Center releases new study on racial segregation and subprime lending

On November 19, 2009, the Furman Center released a new report examining the relationship between residential segregation and subprime lending. The study examined whether the likelihood that borrowers of different races received a subprime loan varied depending on the level of racial segregation. It looked both at the role of racial segregation in metropolitan areas across the country and at the role that neighborhood demographics within communities in New York City played. The report found that, nationally, black borrowers living in the most racially segregated metropolitan areas were more likely to receive subprime loans than black borrowers living in the least racially segregated metropolitan areas. When looking just at New York City neighborhood demographics, the report found that living in a predominantly non-white neighborhood made it more likely that borrowers of all races would receive a subprime loan.

The Furman Center is a leading academic research center, and a joint initiative of NYU's Robert F. Wagner Graduate School of Public Service, and the School of Law. The director is Vicki Been, the Boxer Family Professor of Law, and the co-director is Professor Ingrid Ellen of Wagner.

Furman Center Report Examines Housing and Neighborhood Conditions

Furman Center Report Examines Housing and Neighborhood Conditions

Over the past three years, housing rents in New York City have risen faster than inflation, and inflation-adjusted incomes have fallen, forcing New Yorkers with low or moderate income to allot a much larger share of their household budget for rent, according to a new report from New York University, The State of New York City's Housing and Neighborhoods. Prepared by the Furman Center for Real Estate and Urban Policy, a joint initiative of the New York University School of Law and the Robert F. Wagner Graduate School of Public Service at NYU, the report finds that the rate of new construction has outpaced population growth in recent years, but that the number of units available at rents affordable to the 42 percent of the city's households earning $32,000 or less fell by almost 205,000 units in the last three years.

Furman Center Report Finds Fewer New Mortgages Go to Blacks and Hispanics

Furman Center Report Finds Fewer New Mortgages Go to Blacks and Hispanics

A new report by the Furman Center for Real Estate & Urban Policy, a joint initiative of the New York University School of Law and the Robert F. Wagner Graduate School of Public Service at NYU, shows that the number of new mortgates to blacks and  Hispanics plummeted in New York  City in 2007. Meanwhile, according to the report, released in October, 2008, that total held steady for white borrowers.

The report found that risky high-interest loans declined -- a silver lining, according to the researchers, who used data released in September, 2008 under the Federal Home Mortgage Disclosure Act.

The Furman Center is dedicated to providing objective academic and empirical research on the legal and public policy issues involving land use, real estate, housing and urban affairs in the United States, with a particular focus on New York City. Its Director is Law School  Professor Vicki L. Been of the Law School and its Co-director is Professor Ingrid Gould Ellen of NYU Wagner. 

To read the report and related news coverage, please click below.

Furman Center's 10th Annual "Housing & Neighborhoods" Report Explores NYC Trends

Furman Center's 10th Annual "Housing & Neighborhoods" Report Explores NYC Trends

The Furman Center for Real Estate and Urban Policy, a project of the New York University School of Law and NYU Wagner, has just released the 10th annual edition of its widely read State of New York City’s Housing and Neighborhoods report.

Professor Ingrid Ellen is quoted in this Crain’s article about the report, while Professor Vicki Been discussed it with “Morning Edition with Brian Lehrer” on WNYC-AM/FM.

Professors Been and Ellen are the directors of the Furman Center, which, in February, garnered a nationally prestigious MacArthur Award For Creative and Effective Institutions.

The 10th annual edition of the State of New York City’s Housing and Neighborhoods, features 2011 data on housing, demographics, and quality of life indicators for each borough and for the city’s 59 community districts. It also finds that while the city remains highly segregated by race, more of its neighborhoods are racially integrated today than 20 years ago. In addition, this year’s report analyzes mortgage finance trends in New York City, and finds that the volume of lending is increasing, the number of foreclosure notices issued has dropped from previous years, and the number of properties entering REO has decreased.

 

 

 

 

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