Where we live impacts access to everything, from a quality education to healthcare. The current pandemic only emphasizes this connection between place of residence and health outcomes. In a recent discussion with ULI, Richard Rothstein, author of The Color of Law, highlighted that racist zoning policies and discriminatory lending practices denied communities of color access to “high opportunity” neighborhoods, defined by amenities like quality jobs, competitive teacher to student ratios, and healthcare.
In July 2019, an ULI Advisory Services Panel made recommendations to Washington, DC's Mayor Muriel Bowser on increasing the supply of affordable housing in the Rock Creek West Planning District, which is one of the DC’s most affluent areas.
"The lack of affordable housing in neighborhoods of opportunity plays a significant role in our country’s ongoing systemic racial inequalities,” said Jeffrey Hayward, Executive Vice President at Fannie Mae, in Fortune. He notes that "communities need to be deliberate about creating neighborhoods that are mixed use, mixed income, and mixed race."
Please join ULI Washington for an informative panel discussion on developing affordable housing in high-income neighborhoods across the DMV. Panelists will discuss methods for increasing access to, and supply of, affordable housing in key locations, highlighting their success stories and addressing ongoing challenges.
- Chris Agorsor, Managing Director, New World Development
- Samia Byrd, Chief Race & Equity Officer, Arlington County (Moderator)
- Scott Copeland, Principal, RST Development
- Angela Kelcher, Senior Director- Multifamily Customer and Partner Management, Fannie Mae
- Sharif Mitchell, Principal, Dantes Community Partners
- In 2020, Mayor Bowser announced an ambitious plan to bring affordable housing to all eight wards. Are we making progress towards that goal? What about in Maryland and Virginia – Is there the political will to bring affordable housing to wealthy neighborhoods?
- What are the major challenges with developing affordable housing in “high opportunity” neighborhoods?
- Does developing affordable rentals in high-income neighborhoods really shrink the equity gap?
- What about homeownership opportunities?
- What are the pros and cons of using low-income housing tax credit (LIHTC) financing?
- With a limited LIHTC supply, what are other ways to provide gap financing?
- Are there any incentives for traditional for-profit developers to incorporate affordable housing beyond inclusionary zoning requirements?