Yesterday Housing Up’s VP of affordable housing, Julia Moran Morton, was featured in a WAMU article and audio on affordable housing in Washington, DC.
The article, “Why There Isn’t More Affordable Housing in the D.C. Area”, examines why it’s so difficult to find affordable apartments in the District. While many factors contribute to DC’s high rental rates, the simplest cause is an issue of supply and demand. DC is a very attractive city to live in; as more people have moved to the area, housing has become increasingly scarce and market rate rents have soared.
Several government and private entities are working to combat the lack of affordable housing. But, unlike in days past, nonprofit affordable housing developers like Housing Up face a tougher challenge. As Julia says, “it’s a competitive market out there … Gone are the days that [nonprofit developers] did have that leverage, where there were properties just [sitting] for years and years, boarded up, waiting for some TLC. … Now the developers are coming into neighborhoods that only nonprofits would develop in 20 years ago.”
To read or listen to the full story, click here.