The Housing Builder Role

In some regions, EDDs and regional organizations have taken on a more direct approach to housing affordability challenges in finding real estate, partnering with developers, hiring contractors, and building new residential construction that the regional organization will own and manage as rental property or sell to low-moderate income homebuyers. While sometimes cost-prohibitive for organizations with limited resources, creative financing packages and partnerships with developers can reduce the financial risk that organizations take. Additionally, staff capacity for property management isn’t always necessary as a property management firm can be hired that will contract from a percentage of monthly revenue from the property. Not only can these arrangements provide consistent cash flow for administrative functions of the EDD through monthly rent payments, but organizations can also structure these partnerships so that apartments or houses built are restricted to low-moderate income residents and have greater community impact.

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