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Breakdown of Open Door public sites versus private sites

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Deputy Commissioner Kim Darga explains the distribution of Open Door projects between public and private sites.

About three-quarters of the Open Door pipeline consists of public sites
Public sites are advantageous due to free land availability
Private sites are more expensive to finance due to additional land acquisition costs

Adrienne E. Adams

0:38:02

Do you have a breakdown on open door public sites versus private sites?

Kim Darga

0:38:07

So in open door specifically, about three quarters of the pipeline is public sites.

0:38:14

And I think one of the main reasons for that is what I mentioned a moment ago, which is that on a private site, it can be much more expensive to finance any project.

0:38:27

The advantage on a public site is that we get free land.

0:38:31

Right?

0:38:31

And on a private site, we have to figure out how to finance the land cost or acquisition cost in addition to developing the real estate.

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Application statistics for homeownership opportunities

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Geographic distribution of Open Door projects