Local public housing authorities (PHAs) in conjunction with the federal government can fast-track needed modernization of public housing, spur economic development, disperse concentrations of poverty and promote local entrepreneurship and wealth-building by leveraging private capital and local real estate development expertise through public-private partnerships (P3s).
PHAs and the federal government can follow a model similar to the Military Housing Privatization Initiative (MHPI) which fast-tracked the improvement of military family housing. The outcomes would be similarly favorable for the residents occupying public housing projects in major cities around the United States.
Public housing entities face unique funding challenges for capital improvement projects. At A&M, our practice enables municipal, state and federal agencies to obtain mission critical facility and infrastructure improvements through alternative delivery and financing methods and real estate monetization strategies.
The situation isn’t unique to New York. Henry Taylor, who teaches urban and regional planning at the University of Buffalo, said that back in 2010, a study by the Department of Housing and Urban Development showed the nation’s public housing needed billions of dollars’ worth of repairs.