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3 December, 2024
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PD&R Edge, an online magazine,
provides you with a snapshot view of our newly
released research, periodicals, publications, news, and commentaries on
housing
and urban development issues.
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The rising number of older adults in the United States
exacerbates the nation’s ongoing housing crisis as
seniors
with falling incomes struggle to find affordable housing
that supports their health and well-being. A recent workshop
hosted by Fannie Mae and the Federal Reserve Bank of
Philadelphia highlighted research that grapples with the
impact of demographic shifts, including the aging U.S.
population, on housing demand. Seniors’ housing needs
are
characterized in part by lower incomes and higher costs,
including the cost of health care and are affected by the
availability of shared living arrangements, generational
ties, and access to home equity.
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PD&R
LEADERSHIP
In Search of the Next
Generation of Housing Policy
In the Leadership Message, Todd Richardson, General Deputy Assistant
Secretary at PD&R, and Elayne Weiss, Deputy Assistant Secretary for Policy
Development at PD&R, summarize takeaways from a roundtable discussion of 25
housing scholars hosted at HUD headquarters in Washington, D.C., on October
7 and 8, 2024. Participants discussed five main topics: expanding the
housing supply, eliminating worst case housing needs in the United States,
finding solutions to ending homelessness, discussing measures that would
ensure housing stability and protections for the nation’s renters, and
strategies to increase homeownership rates and close the racial
homeownership gap in the United States.
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RESEARCH
Evaluating the RAD
Choice Mobility Option: Part 1: Prevalence
As part of the 2012 Rental Assistance Demonstration (RAD) program
authorization, Congress created the Choice Mobility option, which improves
public housing residents’ ability to access affordable housing that
best
meets their needs. The 2023 “Evaluation of the Rental Assistance
Demonstration (RAD): Implementation and Impact of the Choice Mobility
Option” report is the first study to quantify the use of the Choice
Mobility
option and to assess the experiences and outcomes of residents, PHAs, and
property owners. The first of a three-part series examining the
report’s
findings, this article reviews the quantitative study data used in the
analysis and the prevalence of the Choice Mobility option among eligible
residents.
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IN PRACTICE
Former School Repurposed
as Affordable Housing and a Community Service Hub in
Buffalo
Opened in 2024, Apartments at the Lyceum is a 42-unit
mixed-use development
in Buffalo, New York. Originally built in the 1930s as a
church education
and recreational center, the three-story building retains
many original
elements. The apartments serve households earning up to 50
or 60 percent of
the area median income, and some are designed for those with
special needs,
including 12 for victims and survivors of domestic violence
who previously
experienced homelessness. Community Services for Every1, the
developer and
owner of Apartments at the Lyceum, provides onsite services
such as
workforce development and culinary arts programs. The $23.6
million project
was supported by state subsidies, low-income housing tax
credit equity, and
a city-awarded HOME loan.
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SPOTLIGHT ON PD&R DATA
Continuing Economic
Recovery and Balanced Housing Market Conditions in
the
Pittsburgh HMA
The Pittsburgh Housing Market Area (Pittsburgh HMA) in
southwestern
Pennsylvania is coterminous with the Pittsburgh, PA
Metropolitan Statistical
Area and includes Allegheny, Armstrong, Beaver, Butler,
Fayette, Washington,
and Westmoreland Counties. The HMA’s population,
estimated at 2.33
million
as of May 1, 2024, has been declining since 2014; however,
the pace of
population loss has accelerated since 2021. The Pittsburgh
HMA economy
continues to recover from the COVID-19 pandemic, whereas the
national
economy largely recovered in 2022. Rising mortgage rates
contributed to
declining home sales, and increases in new apartment
deliveries contributed
to rising vacancy rates. Rental market conditions in the HMA
are balanced,
easing from tight conditions in 2022.
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TRENDING
The Blank Foundation
Outperforms a Community
Benefit Agreement in Westside Atlanta
As part of an agreement to replace the Georgia Dome in
Atlanta, Georgia, with a new stadium, Arthur Blank, owner of
the Atlanta Falcons and the Atlanta United sports teams,
committed the Arthur M. Blank Family Foundation to support
the revitalization of the English Avenue, Vine City, and
Castleberry Hill neighborhoods surrounding the site of the
proposed stadium. To help pay for these improvements, the
Atlanta City Council approved an improvement plan in 2013
that established the Westside Tax Allocation District,
including a $15 million community improvement fund for
brick-and-mortar projects, and the Arthur M. Blank Family
Foundation committed $15 million to the Westside
Neighborhood Prosperity Fund for human services programs. To
date, the foundation has contributed more than $106 million
to Westside projects and programs.
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INTERNATIONAL & PHILANTHROPIC SPOTLIGHT
Global Cities and
Affordable Housing:
Tokyo
The Japanese capital, Tokyo, is one of the world’s
most
populous metropolitan areas, with nearly 40 million
residents. Unlike other global metropolitan areas, Tokyo has
avoided a housing crisis, and housing in the city is
relatively affordable. Japanese homes are designed to
maximize efficiency and affordability because they must
withstand the reality of frequent earthquakes. This need
results in a rapid cycle of tearing down and rebuilding
housing, enabling cities to meet current market demands
swiftly and stands in contrast to the zoning regulations
that impede needed development in many Western cities.
Rather than a problem of too few homes, Japan faces an
increasingly critical problem of too many unoccupied
dwellings.
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suggestions to
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