Leonard Grunstein: The Answer to the Affordable Housing Crisis Is More Housing—A Blueprint for Accessing the Capital Markets to Finance the Creation of New Middle Income and Other Affordable Housing

Recently published in the spring 2014 edition of the Real Estate Finance Journal, Leonard Grunstein’s plan to resolve New York’s affordable housing crisis proposes a new mixed-income, mixed-use model of affordable housing that enables the free-market to fund the development. The full plan can be accessed below.

This article analyzes the affordable housing crisis and proposes a solution.

Part I:

The Affordable Housing Crisis and a Capital Market Solution

Part II:

Middle Income and Other Forms of Affordable Housing—A Study of Definitions

Part III:

Underwriting Middle Income Housing—A Basic Financing Manual

Part IV:

Start with the NYCHA Sites in Manhattan as a Model

Part V:

The Proposed Self-Financed Rent Voucher Program

Part VI:

The Need For Predictability—The AHA and Financeable Ground Lease can be Effective Tools to Accomplish the Mission

Part VII:

Mitchell-Lama and Other Precedents

Part VIII:

The UDC Precedent, Including Battery Park City Authority and the Need for an Affordable Housing Authority

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