Affordable housing stakeholders are facing severe challenges financing deals, both for new construction and preservation. High interest rates have increased the return requirements for equity investors and significantly increased the cost of debt.
It's one challenge of many for affordable housing projects, say Stacie Nekus and Kyle Kolesar from KeyBank's Community Development Lending and Investment Team, who note that the bank has helped its partners remain resilient in finding viable solutions for borrowers.
In this episode of the Thought Leadership podcast series, you'll hear:
- How construction costs have made it difficult to underwrite new deals;
- What other cash-flow constraints are making affordable housing more difficult; and
- Why creative financing solutions may be the solution to relieve some of the roadblocks.
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Kelsi Maree Borland
