This week we dive into stories addressing the scale of the housing affordability crisis, unemployed renter cost estimates during the pandemic, and how all of “this” may influence how and where we work and live in the future.
Part one of a three-part series designed to introduce real estate companies to the process for integrating environmental social and governance (ESG) impact into their investment strategy and organizational framework.
his week’s review focuses on how and why impact investing will endure in 2021 and beyond with a special focus on some unique approaches that firms are taking to create impact via affordable housing.
In this week’s episode, we share some interesting work being undertaken by a wide range of impact leaders, including BlocPower Freddie Mac Icon Paul Bradley Esusu and the U.S. Impact Investing Alliance
This Harvard Joint Center for Housing Studies specifically addresses housing concerns arising from the COVID-19 pandemic, in addition to outlining various enduring housing challenges. The report offers few concrete solutions to these challenges, but provides a robust evaluation of existing research on the affordability crisis, disparate racial and income impacts of the pandemic, tradeoffs for cost-burdened households, and residential segregation, amongst others.
In their annual report, the National Low Income Housing Council (“NLIHC”) presents their findings on the availability of affordable rental homes by income group. Primarily referencing their evaluation of American Community Survey (“ACS”) data, this report concludes that there is a shortage of seven million, which cannot reasonably be addressed through the private market. Solutions are focused on federal policies and programs, like block grants, rental assistance programs, and legislative action.
This Stewards of Affordable Housing for the Future (“SAHF”) report on resident services coordination details resident services best practices gleaned from leading affordable housing providers and organizations and summarizes their findings in a comprehensive framework and set of guidelines.
This 2015 report from the Urban Land Institute offers evidence-based opportunities to improve health metrics in communities through the built environment. Broken up into five different chapters, the report details ways to improve the built environment that encourage physical activity and access to healthy food and drinking water and identifies various certification programs focused on properties that account for these factors.
This Fannie Mae report assesses the impact of green bond issuances on their multifamily portfolio, concluding that this investment strategy has tripled their bottom line impacts from 2012 to 2019. Examples from their portfolio highlight the financial and social impact on low-income families, which include job creation, number of units retrofitted with green technology, and utility costs saved for tenants. A later discussion on green financing products and tracking impact provides helpful information on investment and organizational strategy.
A September 2020 report from the Brookings Institute discusses the relationship between impact bond and the larger social services ecosystem and later details solutions, rooted in empirical study, that may help address challenges arising from impact bond interventions.