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|Meet Day||T/Th||8:30 AM - 9:50 AM||GSD GNDH 517|
Explores issues relating to the development, financing, and management of housing affordable to low and moderate income households. Examines community-based development corporations, public housing authorities, housing finance agencies, private developers, and financial intermediaries. Identifies, defines, and analyzes development cost, tax credit, operating, debt service, rental assistance, and project-generated cross income subsidy vehicles. Assesses alternative debt and equity funding sources for both rental and for-sale mixed-income housing and addresses the increasingly common practice of aggregating multiple subsidies into a single financial package. Reviews other aspects of the affordable housing development process, including assembling and managing the development team, preparing feasibility studies, controlling sites, gaining community support, securing subsidies, establishing design objectives and coordinating the design and construction process, selecting residents or homeowners, providing supportive services, and managing the completed asset. Historically, almost all students in this course have participated in the Affordable Housing Development Competition (AHDC) sponsored by the Federal Home Loan Bank of Boston and others. As part of the competition, teams of multidisciplinary graduate students primarily from Harvard and MIT prepare detailed housing proposals working with real sponsors on real sites in the Greater Boston area. These AHDC proposals serve as the final project for the course. The course includes lectures, cases, exercises, site visits, guest lectures, and student presentations.
Also offered by the Graduate School of Design as SES- 05490.