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Updated almost 8 years ago,

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4
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0
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Michael Shipley
  • Arlington, VA
0
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4
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Affordable Housing for Retail Tenants??

Michael Shipley
  • Arlington, VA
Posted
First time posting and admitting it's probably in the wrong category but was really unsure where this inquiry would classify... Tonight I attended my first neighborhood development meeting and was completely glued to everything that was discussed. Aside from the "Mr. Rodgers" atmosphere and the decrepit basement setting, the whole affair was fascinating. Inevitably, the topic of protecting long-standing restaurants and retail tenants from new developers and rent hikes came up. This was after a long discussion of recent "success" stories where affordable housing was achieved in some of the new developments. My question is this - is there such thing as an affordable housing/ protection capacity for retail tenants in emerging markets? The speaker claimed he knew of no such program although described briefly that affordable housing is created through a fund called "AHIP" wherein developers (and I'm assuming taxpayers) contribute to a fund that then loans to new developments (or low income tenants?) at favorable interest rates. Seemingly, there's still a profit made through that interest and thus, why not create something for small business owners in protecting their neighborhood interests as long standing retail tenants? Must already exist right? Especially considering the recent focus small business owners receive on national election platforms...?! Location is Arlington, Virginia. Thank you!

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