Influence of Changing Real Estate Scenarios on Affordable Housing in India

2016 ◽  
pp. 29-40
Author(s):  
Ratna Ghosh ◽  
Sanket Subhash Mane
Keyword(s):  
Real Estate ◽  
Affordable Housing

scholarly journals Social (In)justice and Rental Housing Discrimination in Urban Canada: The Case of Ethno-racial Minorities in the Herongate Community in Ottawa

2021 ◽  
Vol 15 (1) ◽  
pp. 81-101
Author(s):  
Joseph Mensah ◽  
Daniel Tucker-Simmons
Keyword(s):  
Real Estate ◽  
Affordable Housing ◽  
Asset Management ◽  
Large Scale ◽  
Rental Housing ◽  
Legal Framework ◽  
Immigrant Community ◽  
Visible Minorities ◽  
Selection Of

In 2015, the predominantly visible minority immigrant community of Herongate, in Ottawa, Ontario, was slated for redevelopment by its landlord, Timbercreek Asset Management. This redevelopment involved mass eviction of the incumbent tenants, demolition of the existing affordable housing and its replacement with luxury rentals, which, by all indications, are beyond the financial reach of the former Herongage tenants. This paper seeks to problematize large-scale residential real estate redevelopment in Canada and examine its impact, using the Herongate situation as a case study. Among other things, it profiles the Herongate community, its history and present redevelopment, and explores the legal framework, and the limits thereof, constraining mass evictions of this type in Ontario. The findings indicate that the selection of Herongate for redevelopment was not fortuitous; generally, racialized and immigrant communities like Herongate are disproportionately likely to be selected for large-scale redevelopment projects, and thus subjected to mass-evictions. Further results suggest that the dissolution of the Herongate community – and the attendant dislocation of its members – has exacted a pronounced social and economic toll and compounded the racial discrimination already experienced by the former Herongate residents, most of whom are visible minorities. The paper concludes with an appeal to imbue the redevelopment process with a greater regard for social justice, and a right to housing as a policy solution to address the injustice caused by real estate redevelopment.

Regrouping after the Loss

2021 ◽  
pp. 98-118
Author(s):  
Daniel R. Garodnick
Keyword(s):  
New York ◽  
Real Estate ◽  
Affordable Housing ◽  
New York Times ◽  
Lehman Brothers ◽  
Housing Complex

This chapter begins with Charles Bagli, a real-estate reporter for the New York Times who wrote the piece announcing the MetLife auction. It mentions the Lehman Brothers, Ramus Capital with Apollo Real Estate, Tishman Speyer, and, to everyone's surprise, the Stuyvesant Town and Peter Cooper Village Tenants Association as the top bidders for the two complexes. It also talks about how MetLife brushed aside arguments about equity, made no mention of history, and rejected any suggestion that it had on any continuing obligations to provide below-market housing in Stuy Town. The chapter discusses MetLife's CEO C. Robert Henrikson, who challenged the notion that Stuy Town could even be considered affordable housing. It highlights MetLife's sudden request to the remaining group of bidders to submit a plan for protecting the residents of the 11,000-apartment housing complex.

Views from the Field: Economic Development Practitioners’ Perceptions About Public-Private Real Estate Partnerships

2019 ◽  
Vol 56 (6) ◽  
pp. 1876-1900 ◽  
Author(s):  
Dustin C. Read ◽  
Suzanne Leland ◽  
JoEllen Pope
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Nonprofit Organizations ◽  
Affordable Housing ◽  
Local Governments ◽  
Growth Machine ◽  
Logistic Regression Models ◽  
Advantages And Disadvantages ◽  
Perceptual Congruence ◽  
Private Real Estate

Survey data and a series of ordinal logistic regression models are used in this study to determine if individuals employed in different economic development capacities exhibit perceptual congruence or perceptual dissonance about public-private real estate partnerships in ways that are consistent with growth machine theory. The results offer some evidence that this is the case by showing that economic development practitioners employed by local governments view the potential advantages and disadvantages of these partnerships in much the same way as hypothesized members of pro-growth coalitions, while having significantly different views than their peers employed by higher levels of government. At the same time, the perceptual congruence observed between economic development practitioners employed by local governments and representatives of socially oriented nonprofit organizations raises interesting questions about the role members of the latter group play in growth machine politics in an era where federal support for community development and affordable housing programming continues to dwindle.

scholarly journals Affordable Housing Provision in Informal Settlements through Land Value Capture and Inclusionary Housing

2020 ◽  
Vol 12 (15) ◽  
pp. 5975 ◽  
Author(s):  
Bernard Nzau ◽  
Claudia Trillo
Keyword(s):  
Developing Countries ◽  
Real Estate ◽  
Affordable Housing ◽  
Social Inclusion ◽  
Real Estate Market ◽  
Master Plan ◽  
Land Value ◽  
Value Capture ◽  
Inclusionary Housing ◽  
Housing Needs

Public-driven attempts to provide decent housing to slum residents in developing countries have either failed or achieved minimal output when compared to the growing slum population. This has been attributed mainly to shortage of public funds. However, some urban areas in these countries exhibit vibrant real estate markets that may hold the potential to bear the costs of regenerating slums. This paper sheds light on an innovative hypothesis to achieve slum regeneration by harnessing the real estate market. The study seeks to answer the question “How can urban public policy facilitate slum regeneration, increase affordable housing, and enhance social inclusion in cities of developing countries?” The study approaches slum regeneration from an integrated land economics and spatial planning perspective and demonstrates that slum regeneration can successfully be managed by applying land value capture (LVC) and inclusionary housing (IH) instruments. The research methodology adopted is based on a hypothetical master plan and related housing policy and strategy, aimed at addressing housing needs in Kibera, the largest slum in Nairobi, Kenya. This simulated master plan is complemented with economic and residual land value analyses that demonstrate that by availing land to private developers for inclusionary housing development, it is possible to meet slum residents’ housing needs by including at least 27.9% affordable housing in new developments, entirely borne by the private sector. Findings suggest that under a robust public-led governance umbrella, market forces can (1) significantly contribute to fill the financial gap in order to achieve the end of slums by 2050 in coherence with the United Nations Agenda 2030 targets and principles, and (2) increase both affordable and market housing in upgraded neighbourhoods, hence enhancing social inclusion in cities of developing countries.

Financing Affordability

2018 ◽  
pp. 197-214
Author(s):  
Sarah L. Coffin
Keyword(s):  
Real Estate ◽  
Affordable Housing ◽  
Local Governments ◽  
Public Involvement ◽  
Commercial Real Estate ◽  
Tax Increment Financing ◽  
The Public ◽  
The Poor ◽  
New Middle Class ◽  
Financing Strategy

Reinvestment in declining or poor areas is necessary to attract new middle-class residents, reduce concentrated poverty, and improve housing conditions for the poor. Private-sector housing and commercial real estate developers consistently argue that, without assistance from the public sector, projects are not economically feasible. However, fiscal and political constraints make local governments hesitant to provide direct subsidies to developers. Tax increment financing (TIF) is often offered as a politically attractive solution to this complicated development scenario. The expedited nature of TIF allows communities to fund projects and generate development investment through a highly decentralized process, potentially avoiding public involvement. This fiscalization of the development process raises key questions. Are the communities most in need of redevelopment benefiting from TIF, or do they compete for development? How does TIF’s “creative” financing strategy influence political fragmentation? This chapter illustrates these challenges and explores ways the tool can be used to promote inclusionary development practices and support creative affordable-housing strategies.

“Dirty Deeds Done Dirt Cheap”

2020 ◽  
pp. 84-115
Author(s):  
Melissa Checker
Keyword(s):  
New York ◽  
Real Estate ◽  
Affordable Housing ◽  
York City ◽  
High Tech ◽  
Small Scale ◽  
Industrial Land ◽  
Zoning Regulations ◽  
Employment Sector ◽  
Noxious Facilities

This chapter defines the term “industrial gentrification” as the creation of new manufacturing zones that feature ecologically friendly, high-tech, and small-scale businesses designed to attract upwardly mobile, eco-friendly gentrifiers. I begin with an historic look at how zoning regulations created areas of sacrifice and gain. Initially, these regulations insulated wealthy residential zones from noxious facilities while interspersing industrial land uses and affordable housing. In the early 1960s, New York City elites reshuffled these spatial arrangements in ways that favored the growth of the finance, insurance, and real estate sectors and pushed industrial businesses to the city’s perimeters. Gentrification (and displacement) were a key part of this new economic strategy. After the 2008 recession, the Bloomberg administration rebooted the manufacturing economy as part of its larger sustainability agenda. However, like other green amenities, the location of low-tech manufacturing spaces corresponded with upscale redevelopment. This further concentrated heavy manufacturing facilities in non-gentrifying neighborhoods. Moreover, rather than reviving a lost employment sector, new manufacturing offered high-priced items produced by a small number of nonunionized, low-wage workers.

From Renters to Owners

2021 ◽  
pp. 58-94
Author(s):  
Benjamin Holtzman
Keyword(s):  
New York ◽  
Real Estate ◽  
Affordable Housing ◽  
Housing Stock ◽  
Rental Housing ◽  
Housing Crisis ◽  
Failed State ◽  
Middle Income ◽  
Market Rate ◽  
Apartment Ownership

After numerous failed state-led initiatives to stem the exodus of middle-income residents in postwar New York, in the late 1960s landlords and major real estate associations proposed their own solution to increase homeownership and retain the middle class: converting rental housing into cooperatives. The middle-income tenants of this housing, however, initially widely rejected apartment ownership, preferring the security of rent-regulated housing. This set off a decade-long battle over the control and nature of moderate- and middle-income housing. This chapter traces how over the 1970s middle-income tenants came to embrace apartment ownership, a shift that pushed the housing stock toward market-rate condominiums and cooperatives and exacerbated the city’s mounting affordable housing crisis.

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