Public Housing agencies across the country have a backlog of capital needs that exceeds $25.6 billion. As a result of dwindling HUD funding and resources, between 10,000 and 15,000 units of affordable housing are lost each year.
In today’s economic environment, housing authorities are faced with difficult choices in establishing priorities for needed repairs, demolition and replacement or simply surviving.
Our team at HSA can help provide you the information needed to plan for the future and more importantly, help you implement successful solutions.
HSA recognizes that the PHA has an advantage in the existing marketplace. Public agencies…
- know the local market
- are already providing affordable housing
- have waiting lists
- know the local politics
- have the management expertise
HSA’s goals are simple—establish partnerships with public housing agencies combining its expertise and resources with the leveraging options open to the PHA to expand needed affordable housing product.
However, public agencies have a disadvantage as well in the marketplace. Because of tight operating budgets, most PHAs do not have the time or resources to invest in new housing. Federal dollars are extremely competitive if not non-existent.
PHAs lack the development expertise required to initiate any new housing program. HUD recognizes these factors, and as a result is encouraging PHAs to leverage their resources with the private sector to develop new housing.
Leveraging options
- give the PHA freedom in selecting development partners
- develop new housing or renovate existing structures
- permit the PHA to use current HUD funding as leverage sources
- promote less dependence on HUD
HSA manages and orchestrates all of the many tasks and components associated with mixed-finance. From strategic planning to conceptual design to financing, construction management and lease-up, we are there every step of the way for our clients.
HSA has assembled a team to respond to all of the unique challenges involved in a mixed-finance transaction, from navigating through the HUD process involved with site selection and site and neighborhood standards approvals, environmental clearances and final mixed finance approval. HSA brings the HUD knowledge and skill set to manage and implement a successful revitalization.
