Preserving Affordable Housing

By Design Develop Construct (DDC)

Between 1965 and 1990, $60 billion in federal funding was invested across the country in privately-owned, affordable rental homes for families, the disabled and the elderly, with the premise that the government would fund construction and operating costs if the owners would promise to make rent af-fordable for these groups for the duration of the fixed financing period. With the expiration of each financ-ing agreement looming, the incentive for owners to keep their rents affordable is deteriorating. 

The primary mission of Preservation of Affordable Housing, Inc. (POAH) is to intervene and preserve these valuable assets for future generations by purchasing large, multifamily properties and refinancing them for long-term affordability. Celebrating its 10th anniversary this year, POAH continues to make the American dream possible for thousands of families. 
"POAH and other affordable housing developers provide one of the most important components to a family's ability to succeed-safe, quality, comfort-able shelter," says Amy Anthony, President, Founder and Executive Director of POAH. "Over the past few years, POAH and organizations like us have made very intentional efforts to use our housing as both a platform and a conduit, linking residents to these and other resources." 

Anthony has been active in the housing industry for over 30 years and is considered one of the country's foremost experts in housing finance and policy. In addition to her work with POAH, Anthony has also served on numerous boards and founded several agencies, firms and committees that have affected housing legislation. From 1983 to 1990, she served as Secretary of the Massachusetts Executive Office of Communities and Development, a $600 million Cabinet-level state agency devoted to producing affordable housing and promoting municipal, community, and economic development. 

POAH currently owns more than 6,600 apartments in 50 developments across nine states and the District of Columbia. The average income of residents in POAH housing is only 30 to 50 percent of the median American income, and the organi-zation specializes in structuring innovative financ-ing to preserve long-term housing affordability for residents who have been priced out of the housing market. 

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