MBB Affiliates, LLC’s Post

Housing affordability is a significant challenge facing the Greater Washington region, where nearly half of renter households struggle with unaffordable rents. Buwa Binitie's personal experiences led him to found Dantes Partners, a community-based development company with a focus on building “luxury affordable housing”. With support from JPMorgan Chase, Dantes Partners has created or preserved 972 housing units. The projects were funded as part of our $30 billion Racial Equity Commitment, which helps create more affordable housing, including in majority Black, Hispanic and Latino neighborhoods, and support business growth in the D.C. region. Read more on Binitie’s fight against the housing crisis and strengthening D.C.’s communities here: bit.ly/3P15Gd5

It’s going to take innovative financing and total community engagement to tackle the #housingaffordability crisis. #citiesforpeople must be the driver, not the get rich quick mentality that drives developers. “At a time when cities across America are facing dire housing affordability crises, we need to mobilize capital on a massive scale for socially just, inclusive solutions…Community voice and power: To ensure truly inclusive governance, EBCDC and Trust Neighborhoods worked with City Life and other tenant advocates to design a trust stewardship committee board with seats for both residents and representatives of local community organizations. This structure, overseeing an LLC operating board of additional neighborhood stakeholders and real estate experts, balanced a vested interest in the community with the people working to keep these units affordable in perpetuity.” #urbanliving #communityengagement #housingforall

More good news for affordable living! Raleigh Housing Authority has helped to provide additional critical affordable housing units in the Raleigh area through bond financing. RHA recently closed on a $28 million bond transaction for New Bern Crossings, a 192-unit low-income, multi-family rental housing development in Southeast Raleigh. Plans call for 70 one-bedroom units, 82 two-bedroom units and 40 three-bedroom units. The new apartments will be located right off the City of Raleigh’s Wake BRT route, providing residents with access to convenient public transportation and resources. The project targets individuals and families with incomes ranging from 30% to 60% Area Median Income (AMI), helping those who may be at risk of experiencing homelessness to afford quality housing. Construction is expected to begin next week and move-ins will start in late 2025. Greystone Affordable Development Haven Design|Build & Harmony Housing Affordable Development   Key Partners: LIHTC Allocating Agency: NCHFA (North Carolina Housing Finance Agency) Bond Issuer: Raleigh Housing Authority Senior Lender: Regions Bank Subordinate Lender: Wake County Affordable Housing Development Program Subordinate Lender: City of Raleigh Municipal Government Community Rental Development Program Additional Partners: Families Together - a PLM Organization. #affordablehousing

With 3.8 million housing units needed, the housing affordability crisis continues to grow. Collaboration is essential, driving the preservation and creation of affordable housing. #AffordableHousing #InnovativeFinancing #CommunityDevelopment"

We're thrilled to share exciting developments in Arizona's housing landscape! Governor Katie Hobbs recently signed a bipartisan bill, known as House Bill 2297, paving the way for cities to expedite the conversion of certain commercial buildings into residential spaces. This forward-thinking initiative represents a significant leap forward in tackling housing challenges across the state. HB 2297 empowers cities with populations exceeding 100,000 to streamline the conversion process, facilitating quicker repurposing of commercial properties into much-needed residential units. By removing bureaucratic barriers, this innovative measure provides families with greater access to housing options without the delays of lengthy municipal reviews. This initiative highlights a collective dedication to addressing affordable housing and homelessness crises in our communities. It embodies a proactive approach to leveraging existing infrastructure to meet the urgent housing needs of Arizonans, fostering vibrant neighborhoods and enhancing community well-being. At A New Leaf, we're thrilled to witness these positive changes unfold, promising tangible benefits for our community. These collaborative efforts in tackling housing challenges underscore our community's resilience and compassion. We believe everyone deserves to live in more inclusive communities, and together, we're committed to building a brighter future for generations to come. https://lnkd.in/gKBv6EWf

Last week, FXCollaborative joined forces with the New York Housing Conference and more than 100 pro-housing organizations to urge the NYC Council to say #YestoHousing by supporting the NYC Department of City Planning (DCP) #CityofYes for Housing Opportunity agenda. In a letter to Speaker Adams, the #YestoHousing Coalition called for comprehensive, citywide solutions to address NYC’s severe housing and affordability crisis. At a moment when nearly 500,000 NYC households spend more than 50% of their income on rent, the #CityofYes proposal is an unprecedented opportunity to remove unnecessary barriers to housing production and increase affordability across the city. We’re committed to working closely with leaders in government and community members to ensure the final text amendment delivers necessary housing reforms on behalf of New Yorkers. To learn more about #CityofYes and become a member of the #YestoHousing Coalition, visit https://lnkd.in/ecRMr6R4.

This article highlights ICCF's land trust model: "Many #Michigan communities are looking internally for unique solutions to the staggering #housing shortage problem — a housing gap with nearly 35,000 units needed by 2027. One of these unique solutions lies in the idea of the community #landtrust." https://lnkd.in/gCwisVfP

NYC has always been a vibrant center of diverse communities, but our affordable housing crisis threatens this very fabric. In my recent article for City & State, I delve into the need for a holistic approach to affordable housing—one that benefits all New Yorkers. By fostering public-private partnerships and streamlining approvals, we can create a range of housing options that support individual residents and our broader community. Affordable housing isn't just about rent; it's about building sustainable, thriving neighborhoods where everyone can prosper. Read the full article and join the conversation on advancing a more equitable New York City: https://lnkd.in/eGaNmAj4 #NYC #AffordableHousing #AffordableHousingCrisis #UrbanDevelopment #Equity

Critical real estate assets held by faith-based organizations could soon transform New York City's housing landscape. Mayor Eric Adams' innovative plan to help these organizations build affordable housing opens up new possibilities for incorporating social good into the city’s urban fabric. By updating zoning laws, the plan facilitates the conversion of existing properties, like old convents and school buildings, into much-needed housing. It offers a potential resolution to the mounting housing crisis while simultaneously providing a sustainable revenue source for faith-based organizations. Discover more about this initiative and consider what such cross-sector collaborations could mean for the future of city development. Read more --> https://lnkd.in/gHJJJ3yx #UrbanDevelopment #AffordableHousing #SocialGood #FaithFacts

Reliable housing is the backbone of thriving communities, and I recognize its importance in United Way of Metropolitan Dallas' mission to improve access to education, income and health in North Texas. Without action, Dallas will likely have a housing supply gap of 33,660 units by 2033. But there is an opportunity to change that. Dallas is in a unique position to be able to secure a $200 million investment for affordable housing in the city’s 2024 Capital Bond Program. These are funds that will be used to incentivize significant private investment to create more housing, allowing Dallas to continue to grow as a city. UWMD Executive Director of Housing Stability & SVP, Community Impact, Ashley Brundage, and Dallas Housing Coalition organizer Bryan Tony, share smart insight on the need for Dallas to invest in affordable housing. Everyone deserves a safe, affordable place to live — a foundation contributing to the opportunity to thrive. 🙏 #liveunitedntx #affordablehousing