Public housing is a multi-billion dollar asset that plays a crucial role in providing affordable housing and driving community revitalization. Home to three million working families, seniors, and people with disabilities, it occupies a unique place on the affordable housing spectrum.
Beginning in 1995, there has been a sea change in how housing authorities operate. They have:
Created innovative partnerships that have built thousands of new and renovated units of affordable housing
Brought in billions of dollars in private investment
Sparked community revitalization across the country.
In fact, HUD Secretary Shaun Donovan has praised housing authorities as the most entrepreneurial and creative affordable housing developers in the country, recognizing that the mixed finance approaches they have pioneered are now standard practice for all affordable housing development.
But at the heart of it all are the benefits to residents and their neighborhoods. Whether it is creating healthy living environments, helping children succeed in school, training and hiring residents, or building supportive homes where seniors can age in place, public housing authorities are playing an integral role in strengthening our urban centers.