A New Model for Affordable Housing
Updated: Jan 22, 2020
Across the country, public housing authorities have $26 billion in capital repair needs. $17 billion of those repairs are at NYCHA properties in New York City.
Karp Strategies is excited to share that we recently began working with Enterprise Community Partners to evaluate an innovative program called RAD (Rental Assistance Demonstration). The program aims to protect long-term affordability by leveraging additional funding from the private sector to make improvements. While NYCHA continues to own the land and oversee major decisions, permanent affordability protections shift from the Authority to Section 8, and property management is assumed by a private company.
Our team will be assessing resident experience at the Ocean Bay Apartments in Far Rockaway, the first development in the city to undergo the RAD transition. We’re thrilled to be working on this complex and sensitive project.
Learn more on our project page.