A development perspective on creating workforce rental housing proximal to major employment centers
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
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| Other Authors: | |
| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2020
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| Online Access: | https://hdl.handle.net/1721.1/123602 |
| _version_ | 1826209289413328896 |
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| author | Rosenthal, Eric Charles. |
| author2 | Jen Cookke. |
| author_facet | Jen Cookke. Rosenthal, Eric Charles. |
| author_sort | Rosenthal, Eric Charles. |
| collection | MIT |
| description | This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. |
| first_indexed | 2024-09-23T14:20:29Z |
| format | Thesis |
| id | mit-1721.1/123602 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T14:20:29Z |
| publishDate | 2020 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1236022020-03-24T03:45:17Z A development perspective on creating workforce rental housing proximal to major employment centers Rosenthal, Eric Charles. Jen Cookke. Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development. Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development Center for Real Estate. Program in Real Estate Development. This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2019 Cataloged from PDF version of thesis. Includes bibliographical references (pages 49-55). Middle-income renters in major cities across the United States are facing an affordability crisis. Many of them earn too much money to qualify for rental assistance programs, but don't earn enough to comfortably afford market rents. Developers recognize the need for quality workforce housing close to major employment centers but have been unable to deliver enough projects to satisfy demand. Population growth, urbanization, and low homeownership rates are just a few of the macroeconomic trends that are driving up the demand for rental housing and causing market rents to rapidly appreciate beyond reach for the middle class. Rising construction costs as a result of government regulation, a shortage of skilled construction labor, and foreign trade policy make the production of workforce housing even more challenging. With a shortage of middle-income subsidy programs at every level of government, developers must exhibit creativity if they wish to build or preserve workforce housing. This Thesis explores the confluence of forces and factors that make it challenging to build new workforce housing and to preserve the existing stock. It then assesses subsidy programs at different levels of government and market-based solutions that developers can add to their toolkit. Three case studies from different parts of the country are used as examples to show how developers can overcome the obstacles and use the tools at their disposal to create workforce housing. Drawing upon the preceding analyses and discussions, the Thesis concludes with a series of recommendations that developers can employ to make workforce projects more economically feasible. by Eric Charles Rosenthal. S.M. in Real Estate Development S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate 2020-01-23T16:59:26Z 2020-01-23T16:59:26Z 2019 2019 Thesis https://hdl.handle.net/1721.1/123602 1135866551 eng MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission. http://dspace.mit.edu/handle/1721.1/7582 55 pages application/pdf Massachusetts Institute of Technology |
| spellingShingle | Center for Real Estate. Program in Real Estate Development. Rosenthal, Eric Charles. A development perspective on creating workforce rental housing proximal to major employment centers |
| title | A development perspective on creating workforce rental housing proximal to major employment centers |
| title_full | A development perspective on creating workforce rental housing proximal to major employment centers |
| title_fullStr | A development perspective on creating workforce rental housing proximal to major employment centers |
| title_full_unstemmed | A development perspective on creating workforce rental housing proximal to major employment centers |
| title_short | A development perspective on creating workforce rental housing proximal to major employment centers |
| title_sort | development perspective on creating workforce rental housing proximal to major employment centers |
| topic | Center for Real Estate. Program in Real Estate Development. |
| url | https://hdl.handle.net/1721.1/123602 |
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