The new report from National Low Income Housing Coalition and PAHRC, Picture of Preservation and 2020 Preservation Profiles, explores the federally assisted housing stock, preservation risks these properties face, and strategies to support affordable housing preservation at a time when millions of Americans are facing housing instability during the coronavirus pandemic.
Using data from the National Housing Preservation Database (NHPD), the report focuses on the challenge of preserving the existing federally assisted affordable housing stock in the face of the national affordability crisis.
Preservation is essential to protect low-income renters and expand the supply of affordable housing for them. “Preservation stops displacement and housing instability for current tenants, prevents the loss of difficult-to-replace housing in desirable neighborhoods, mitigates further disinvestment from distressed communities, presents an opportunity to reduce greenhouse gas emissions through energy retrofitting, and prevents the further decline of the already limited federally subsidized housing stock.”
PAHRC reports that Connecticut has 4,987 publicly supported rental homes with affordability restrictions expiring in the next five years. 2,230 units of public housing in Connecticut are in immediate need of investment.
Click here to read the report.