Housing – Permanent Affordability in Gentrifying Neighborhoods

Host/Sponsor: 
Henry George School of Social Science
Room: 
1.67
Timeslot: 
SATURDAY June 3rd Session 3: 3:30pm - 5:15pm
Abstract: 
New York City is the harbinger of the future – increased housing density, decreased housing unit square footage, increased monthly rent, and higher qualities of life. However, with 65% of income spent on housing rent, people are leaving. Walter South has identified how housing can be made affordable in perpetuity at no more than 30% of income, with or without pressures from gentrification through a community land trust (CLT). Ownership would be limited equity, guaranteeing lower living expenses at the expense of not being able to cash in on rising property values in the future. Commercial use on the ground floors maximizes the coverage of maintenance costs for lower income residents in a cross-subsidy. Should a tenant leave, the price for the resale is based on the average medium income (AMI) at that future time, and the tenant gets back what she/he invested at the start of occupancy. Any increase goes to the building for long-term capital improvements.
Reading List: 
Progress and Poverty, Henry George, 1879
Chair/First Facilitator/Speaker First Name: 
Walter
Chair/First Facilitator/Speaker Last Name: 
South
Chair/First Facilitator/Speaker Affiliation: 
The Trust for Affordable Housing
Chair/First Facilitator/Speaker Biography: 
Walter South is the President of the 501(c)3 The Trust for Affordable Housing, located in New York City, who has 45 years experience as a consultant to non-profit housing organizations. In that effort, Walter packaged, financed, supervised construction, rented, managed, and syndicated low-income housing.
Speaker 1/Second Facilitator First Name: 
Ayisha
Speaker 1/Second Facilitator Last Name: 
Oglive
Speaker 1/Second Facilitator Affiliation: 
Manhattan Borough Community Board 12, Chair of Housing and Human Services
Speaker 1/Second Facilitator Biography: 
Ayisha Oglive is a longtime resident of Manhattan’s Washington Heights, and the Housing and Human Services Chair for Community Board 12. Oglive is a close collaborator of Marty Rowland and Walter South regarding affordable housing NYC.
Speaker 2/Third Facilitator First Name: 
Thomas
Speaker 2/Third Facilitator Last Name: 
Agnotti
Speaker 2/Third Facilitator Affiliation: 
Hunter College, CUNY
Speaker 2/Third Facilitator Biography: 
Tom Agnotti is the Director of the Hunter College Center for Community Planning and Development at Hunter College CUNY; Agnotti is author of Metropolis 2000: Planning, Poverty, and Politics; co-editor of Progressive Planning Magazine and columnist for the online journal Gothan Gazzette.
Panel/Workshop Organizer First Name: 
Marty
Panel/Workshop Organizer Last Name: 
Rowland
Panel/Workshop Organizer Affiliation: 
Henry George School of Social Science
 

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