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Impact of Tax Reform and Jobs Act on Affordable Housing

February 27, 2018

There are close to 132,000 units of affordable housing in the U.S. that are in various stages of development. Nearly one-third of these planned units are at risk of not receiving the necessary financing now that the tax cut has reduced the incentive to buy tax credits that spur affordable housing. Accordingly, we have revised our forecasts for expected affordable housing construction to account for the reduced tax incentive. In New York City alone, close to 19,000 affordable units are in development stages accounting for 14% of the U.S. total affordable units either under construction or that have been permitted. This added affordable stock would house many that are cost burdened or below the poverty level. In the U.S., 46% of renters pay 30% or more of their income on housing costs. Of these, close to half earn less than $20,000 in income. Finally, 16% of all U.S. housing is occupied by those below the poverty level.

Spotlight

Jackson-Shaw Company

Jackson-Shaw, a national real estate development company headquartered in Dallas, Texas, brings more than 40 years of experience in the development of diversified real estate properties that meet the needs of its customers and partners. The company has completed more than 60 million square feet of development since its founding in 1972. Today, Jackson-Shaw focuses its development activity of project types, including office, industrial, mixed use and hospitality. The company's consistent goal is to increase and enhance values in real property assets for both its clients and capital partners. Major institutions and organizations continue to recognize Jackson-Shaw for exceptional site selection and imaginative and creative design in new projects. Current projects are located nationally in Texas (Dallas and Austin), Florida (Jacksonville), Maryland (Beltsville and District Heights), Nevada and Colorado.

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Impact of Tax Reform and Jobs Act on Affordable Housing