Bending the Cost Curve: Solutions to Expand the Supply of Affordable Rentals

2014
|   By
Andrew Jakabovics ,
Enterprise Community Partners, Inc.
Michael Spotts ,
Enterprise Community Partners, Inc.
Lynn M. Ross & Molly Simpson, Urban Land Institute Terwilliger Center for Housing
Report Cover
Summary
This report from Enterprise and the ULI Terwilliger Center for Housing, explores the many factors that raise the cost of affordable rental housing development and provides specific recommendations for bending the housing cost curve.
Description

As public funding sources come under threat - in efforts to reduce government expenditures or simplify the tax code- it becomes increasingly necessary to identify opportunities to lower the cost of providing affordable homes. This report, which builds upon our previous discussion brief on the subject, (see Related Resources tab above) explores the many factors that raise the cost of affordable rental housing development provides specific recommendations for bending the housing cost curve.

This research is based on a series of interviews and roundtable discussions co-hosted by the Terwilliger Center and Enterprise over 12 months with more than 150 developers, financiers, and policy makers in ten markets. The report states that costs could be lowered by: promoting consolidation, coordination and simplification; removing barriers to reducing construction costs and delays; facilitating a more efficient deal assembly and development timeline; improving and aligning incentives; improving the flexibility of existing sources of financing and creating new financial products; and supporting the development and dissemination of best practices.

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