While Americans continue to struggle under high rents, as many as 223,0000 affordable housing units could disappear in the next five years.
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Marina Maalouf, a longtime resident of Hillside Villa who participated in protests after rents doubled in 2019, scrolls through a digital album in her apartment in Los Angeles, Tuesday, Oct. 1, 2024. Marina Maalouf, a longtime resident of Hillside Villa, sits for a photo in her apartment in Los Angeles, Tuesday, Oct. 1, 2024.
Marina Maalouf, a longtime resident of Hillside Villa who participated in protests after rents doubled in 2019, stands for a photo inside her apartment building in Los Angeles on Wednesday, Sept. 18, 2024. “It’s the lifeblood of affordable housing development,” said Brian Rossbert, who runs Housing Colorado, an organization advocating for affordable homes.
Local governments and nonprofits can purchase expiring apartments, new tax credits can be applied that extend the affordability, or, as in Maalouf’s case, tenants can organize to try to force action from landlords and city officials. “Friendly,” is how Maalouf described her previous self, but not assertive. That is until the rent hikes pushed her in front of the Los Angeles City Council for the first time, sweat beading as she fought for her home.
In California, landlords must notify state and local governments and tenants before their building expires. Housing organizations, nonprofits, and state or local governments then have first shot at buying the property to keep it affordable. Expiring developments also are prioritized for new tax credits, and the state essentially requires that all LIHTC applicants have experience owning and managing affordable housing.
Still, local governments or nonprofits scraping together the funds to buy sizeable apartment buildings is far from a guarantee. That can throw a wrench into policymakers' and advocates' ability to fully understand where and when many units will lose affordability, and then funnel resources to the right places, said Kelly McElwain, who manages and oversees the National Housing Preservation Database. It's the most comprehensive aggregation of LIHTC data nationally, but with all the gaps, it remains a rough estimate.
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