Start Date
05/14/2021
End Date
05/21/2021
Description
This course brings students through four themes that shape affordable housing as an asset class, a policy imperative, and a growing global business opportunity:
Affordable housing in the context of 21st century cities. Includes both developed nations and emerging economies. Covers principles demonstrated by 150 years of urban affordable housing evolution: urbanization (and eminent domain), formality and informality in housing, housing and public health, housing’s connections to community (re)development, climate and disaster resilience.
Housing’s value chains and making them work, supply side (new homes and flats) and demand side (housing loans and housing finance). Particular emphasis on the relationship between government as enabler, resource provider, and regulator, and the entrepreneurial private sector as risk taker, developer-builder-operator, and profit-maker. Risk-sharing structures will be discussed.
Finding the money: making the economics profitable. How affordable housing closes the cost-value gap. Where money can be found, created, and monetized. Particular emphasis on non-cash money that is available within the control of sub-national (state/ provincial or municipal) levels of government. Tax credits, inclusionary zoning, and tax increment financing are among the topics addressed.
Leading in the post-Covid environment. How the pandemic has disrupted the urban value proposition: asset classes that will fall in value, creating opportunities to reposition stranded-cost properties into housing. Key unmet needs, including workforce housing, employer-assisted housing, service-enriched housing, shared ownership, community redevelopment, and health-secure housing. Property-level and developer-level skills, attributes, and strategies to thrive by leading.
Emphasizing the connection between policy and practice, each module of the course will reference a through-line case of affordable housing development in New Orleans, that will be viewed through all four thematic lenses.
In addition, the course offers two optional one-hour office hours where students can ask anything related to the materials up to that point. Questions can be extemporaneous or sent in ahead of time. This offers the chance for advanced students to delve deeply into technical matters, whether programmatic or specific to particular markets or countries.
From the almshouses to the high-rises, from slums past and present to post-Covid health-secure housing, the course is a fast-paced journey across a rapidly evolving asset class that is at the cutting edge of cities, economic development, and public-private partnership.
There are no prerequisites, though students will generally be drawn from professional disciplines touching on affordable housing issues, such as real estate development, real estate finance.
Distance Learning
Yes
Course Equivalency
No
Subjects
Project Management
Health, Safety and Welfare
Yes
Hours
8.0
Learning Outcomes
Frame affordable housing for external stakeholders as an imperative where they should act to help.
Understand the pathways by which political or market desires can be converted into successful housing developments.
Recognize development and redevelopment opportunity in an urban context.
Identify financial and subsidy resources that, if tapped, turn uneconomic eyesores into profitable development opportunities.
Decide whether and how to enter or expand your company’s or agency’s involvement with affordable housing.
Instructors
David A. Smith
Course Codes
Provider
Harvard University Graduate School of Design - Executive Education