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Q&A
Challenges in affordable housing development explained by Acting Commissioner Tigani
0:36:50
·
43 sec
Acting Commissioner Ahmed Tigani addresses Council Member Brannan's concerns about the challenges in affordable housing development. He acknowledges the lengthy timeline for affordable housing projects and explains some of the reasons behind it.
- Tigani notes that the affordable housing pipeline can take several years, sometimes over five years, depending on the project type.
- He explains that affordable housing financing involves multiple layers of subsidy using both public and private contributions.
- Tigani emphasizes that this complex financing model allows them to maximize the number of projects they can undertake, rather than just a few expensive ones.
Ahmed Tigani
0:36:50
So I would say I want affordable housing to be built faster as well.
0:36:55
That's what we are all here to talk about and this is what the work focuses on.
0:37:00
It is absolutely true that our pipeline is a long pipeline.
0:37:05
Some projects, depending on the type of project, may take a few years or it could be longer than five years.
0:37:10
Part of it has to do with the way we finance affordable housing, but it's the way affordable housing is financed across the country.
0:37:18
Affordable housing is financed through a number of different layers of subsidy using public and private contributions.
0:37:26
We heavily depend on HBD being able to maximize how many projects we're able to do.