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Developers and Faith-Based Institutions Take On the Affordable Housing Crisis

Like a marriage, easy to get into but harder to exit—make sure your development partner complements your flaws, advises NYC’s HPD Department.

Karim Camara Reverend Karim Camara, executive director, Governor’s Office of Faith-Based Community Development Services

NEW YORK CITY—New York City’s Department of Housing Preservation and Development’s 2017 Housing and Vacancy Survey concluded with the rental vacancy rate of 3.63%, New York is facing a “housing emergency.” Cities around the country such as Los Angeles are also working to address affordable housing shortages.

Religious institutions are often some cities’ largest landowners. They also frequently have a mission to alleviate the affordable housing crises in their communities. Experts recently convened at the New York Athletic Club to brainstorm on how developers, builders and financiers can team up with faith-based organizations to create affordable housing.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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