February 19, 2024 – David Leopold, SVP and Head of Affordable Housing was recently featured in an article for the Commercial Observer which discusses the persistent affordable housing crisis in the United States and the challenges faced by owners, developers, lenders, investors, and residents. It highlights that while a record number of housing units were delivered in 2023 and more are expected in 2024, not enough of them are built for lower-income demographics, thus not improving affordability. The article mentions barriers such as high construction costs, restrictive zoning laws, and costly permitting fees. It also mentions recent legislation that could expand the Low-Income Housing Tax Credit program to incentivize investors to develop affordable housing. The article emphasizes the growing importance of addressing the affordable housing crisis and mentions the rise of ESG initiatives in the commercial real estate industry. Berkadia, a company mentioned in the article, is committed to providing affordable housing solutions and has been ranked highly in the affordable housing space. The article concludes by stating that while there is no magical solution, increased investment activity, new legislation, and purpose-driven initiatives can help combat the affordable housing crisis.