Drive down the road in most U.S. cities and it seems like every new multifamily development is billed as a luxury living experience. This situation is more than just clever marketing; it belies a growing problem: Many U.S. markets have a robust supply of high-end units but not much in the way of workforce housing.
According to the Urban Land Institute, workforce housing serves households making 60% to 120% of the area median income (AMI).
Read more...It’s Time to Solve the Workforce Housing Supply Problem | Multifamily Executive Magazine | Workforce Housing, Affordable Housing, Affordability, construction costs, Density, Land Costs, low-income housing tax credits, Urban Land Institute
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