Building Capital for NOAH Preservation: The Evolving Capital Marketplace

As housing supply has tightened and repositioning of existing apartments has become a money-making strategy for profit-motivated buyers, the availability of naturally occurring affordable housing (NOAH) is falling. Preserving these unsubsidized properties as housing that is affordable to moderate income households has become a major priority in many markets is a key housing priority. With government financial support prioritized for new construction of low-income serving units, preserving that housing NOAH for long term affordability has come to depends upon private equity that is aligned with that mission. This panel of investors and developers will discuss the equity capital marketplace for NOAH preservation, what motivates these investors, what they look for in their projects and housing providers, and the outlook for continuing to expand investor appetite for mission aligned equity capital.

  • David Foster, Community Solutions
  • Michael Lear, The Community Development Trust
  • Noelle St. Clair, Woodforest National Bank
  • David Steinwedell, Affordable Central Texas
  • Bob Taylor, Morgan Stanley
  • Amy Anderson, Wells Fargo Foundation (Moderator)

Learning Objectives: Discuss the terms on equity available in the marketplace for NOAH preservation. Explore the investor issues for expanding capital for NOAH preservation. Understand the types of properties that best fit investor objectives. Discuss investor expectations for housing providers’ approach and qualifications.

Field of Study: Specialized Knowledge

Level: Advanced

Author: Chelsea Maupin

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