By Haisten Willis, March 19, 2020 Preserving communities, preventing displacement
While efforts to create new affordable housing generate debate and policy proposals nationwide, a less discussed issue is how to preserve and improve the millions of homes and apartments that are already affordable.
Naturally Occurring Affordable Housing (NOAH) constitutes most of the affordable units in America. Although there’s no strict definition, NOAH generally is understood to mean rental housing at least two decades old, short on amenities and affordable without a subsidy.
According to Harvard University’s Joint Center for Housing Studies, 75 percent of the 12 million affordable rental units in America’s major cities remain unsubsidized.
But left unprotected, NOAH doesn’t tend to stay affordable, leaving occupants priced out. When their units finally see improvement, tenants often have no choice but to leave.
[Please click here to read more.]
Comments (0)