Faisal Susiwala’s Post

There are still thousands of permanently vacant apartments with regulated rents below their cost to operate and renovate in NYC, a city with an acute housing shortage. The housing crisis will never be solved until this is fixed. One way is to have rents reset at tenancy like every other major city with rent control in this country. A shorter immediate fix is to let rent stabilized owners collect the same voucher rent non-profits are allowed to collect so we can get more people in permanent housing. Either way, the cost of housing is not going away and must be addressed immediately.

As the affordable housing landscape changes, developers are looking at a significant shift towards establishing their own for-profit registered providers. Could this be the answer to current Section 106 challenges? With most housing associations directing focus on refurbishing their development portfolios, figures show developers are steering towards new autonomy, streamlining processes, and attracting new private investments, I would like to ask: - What impact will this have on the future of social housing? - As partnerships with traditional housing associations potentially go how will these changes enhance or effect the delivery and quality of affordable housing? It would be great to hear my connections thoughts around this topic and keen to understand the impact and effect this would bring within the sector!! #AffordableHousing #HousingDevelopment #ForProfit #GMHousing

It was a pleasure for Habitat GTA and Habitat for Humanity Canada to meet today with a number of Federal Government MPs, Majid Jowhari, Ryan Turnbull, Chad Collins & Peter Fragiskatos. We greatly appreciated the opportunity to explore further how we can assist the government & continue to contribute to meeting the #affordablehousing challenges faced by Canadians in the GTA and across Canada. One particular recommendation that we make is for the federal & provincial governments is to take the next step on addressing housing affordability by extending the HST/GST exemption now in place for purpose-built rental, housing co-ops & student housing, to also include non-profit affordable ownership homes delivered by organizations like ours. In the GTA the HST/GST is adding an average of $80,000 per home to the price that Habitat GTA incurs to deliver urgently needed new affordable ownership homes. For every 100 homes that we deliver, Habitat GTA could provide 13 more if we were not paying this expense.

Great discussion this morning on how to get more affordable homeownership housing built in Canada. A healthy housing system needs a mix of options, including access to homeownership and the socioeconomic benefits it provides. Waiving the GST/HST on homes delivered by affordable homeownership providers can reduce costs and get more homes built for those who want to choose this path.

House builders are increasingly creating their own for-profit registered providers. Colette McCormack and Matt Cowen explain why and how this is changing the affordable housing landscape, in Housing Today (£). https://lnkd.in/eS7xFw9W #Housing #HousingDevelopment #RPs #SocialHousing

“Schemes are either taking significantly longer to progress to construction or simply not being built at all”. “While two years ago there were normally at least half a dozen registered providers willing to bid competitively for affordable housing opportunities in London, in many cases this is now down to one or two and in many cases none" More concern here about RPs shifting from forward-buying section 106 homes towards doing their own 'land-led' schemes instead. Non-profit business leaders group BusinessLDN is now calling on the Greater London Authority to step in and create a vehicle, backed by institutional investors, to purchase section 106 homes that cannot be sold via the normal process and to manage them to provide long-term housing for Londoners. We can't really blame RPs for wanting more control over design, construction, service charges and costs, but who is going to take these section 106 homes? Will for-profits step in? Does the section 106 delivery model - which accounts for around four in 10 new affordable homes - need to change? Lots to think about here. #housing https://lnkd.in/ePjqaSBS

Co-op housing is rental based and is driven to break even rather than try to profit off of rents. It used to be thought of as "affordable" but at this point will really help serve the "missing middle" of housing as property valuations continue to skyrocket. 🏘️ Now available: 1.5B in funding, estimated to create thousands of new co-op housing units by 2028. 🏘️ Do you work with non-profit housing providers, municipal, provincial, and territorial governments, Indigenous organizations or governments, or student housing co-ops? Share this post to help them get the funding they need: https://ow.ly/OW4750SBBY2 #CoOphousing #HousingForAll #AffordableHousing #CommunityLiving

Conflict Alert! Housing Associations (HA) vs Private Developers (PD). This creates a big opportunity for property investors so pay attention. HAs are non-profit organisations and they want to provide affordable housing to the masses. PDs are for profit organisations and want to extract as much yield as they can from assets. This creates a conflict between HAs and PDs as PDs drive up prices and HAs can't keep their prices low otherwise their business goes under. The size of HAs has been decreasing, which means only expensive PD assets are in the market. Which means that the government is struggling to find affordable housing for those in need. This is where it starts to get interesting. If you have assets with 1) Enough size 2) Demonstrable capability of managing those who need housing (it is not easy to host 100 tenants who are in need of emergency accommodation) then the government will provide you with steady above market rental income to house these people. This is what we do at Properteers. If you are interested leave a comment and we can discuss privately.

Yes, yes, and yes. Supply is important, but to meet the needs of the tens of thousands of Canadians who can only afford $1000/month or less, non-profit housing is vital. https://lnkd.in/gY88RTu4

Stories like this are why I do what I do. Why I'm so passionate about housing. We see the dire statistics in the news every day, but those stats are more than numbers. They are real people, struggling to survive. Struggling to keep their kids clothed and fed. Making the choice between paying rent or keeping the heat turned on. It's time to fix the housing crisis that's sweeping across Canada. Housing is a basic Human Right that affects us all. We are all in this together. #betterhousingcantwait #canadahousing #housingcrisis #affordablehousing #humanrights #yeg