Housing Law Commons^™

Comments: Private Investment: Trojan-Horse Or Shining Knight For America's Public Housing Stock, Andrew Balashov

University of Baltimore Journal of Land and Development

The numbers are staggering. The nation's largest public housing authorities ("HA's") are in a state of crisis as a result of massive budget shortfalls. The Department of Housing and Urban Development (HUD) estimates it would take roughly $26 billion to remedy the problem. To put this in perspective, in 2014 the New York City Public Housing Authority had a $77 million deficit and $18 billion worth of "unfunded capital improvements," - a euphemism for basic upgrades to building systems such as water, heat, air conditioning, and elevators. At present, many of these systems are woefully below acceptable livability standards. This …