Enterprise Hosts First Faith-Based Affordable Housing Development Forum in New York
Last week, the co-hosted a Faith-Based Affordable Housing Development Forum with Kingdom Faith Developers in Jamaica, Queens. The forum is part of a pilot initiative to support faith organizations who are interested in repurposing parts of their property for affordable housing development.
Faith-based organizations are anchor institutions in communities, and play an important role supporting our most vulnerable neighbors and strengthening neighborhoods. Increasingly, faith-based organizations are furthering this support through mission-driven housing solutions and community development.
Enterprise’s Senior Advisor Bill Frey and Vice President & Mid-Atlantic Market Leader David Bowers gave opening remarks. Reverend Williams of Kingdom Faith Developers moderated a discussion with panelists representing development, finance, law, and the public sector. Attendees learned about the important steps congregations and faith leaders should consider when exploring affordable housing development. Panelists provided expert insight into faith-based partnerships, sharing common missteps and best practices. The discussion topics included title and legal considerations, the city’s affordable housing programs, Low Income Housing Tax Credits, Attorney General approval process, and more.
- Dana S. Roper - Associate, Nixon Peabody LLP
- Marcus T. Randolph - Vice President, Community Development Banking, Chase
- Linda Heinberg - Assistant Attorney General, NYS Charities Bureau
- Ericka Keller Wala - CEO, Brisa Builders Corporation
- Dan Magidson - Vice President, Tax Syndication, Enterprise
- Osei Rubie - president, National Standard Abstract
- Nathan Simms - Assistant Commissioner, New Construction, NYCHPD
One topic discussed in depth involved the development timeline from conceptualization of a project, to assessing the development options and applying for financing, development, lease up, and entering into regulatory agreements. The importance of and commitment to long-term affordability was underscored as a stabilizing component of healthy, vibrant communities. Enterprise is pleased to be a partner with Kingdom Faith Developers, and serve a resource for faith-based organizations. The Queens Faith-Based Affordable Housing Development Forum was the first in a series of forums that will be held throughout New York City.