Affordable Housing Development

This book explains the nuts and bolts of affordable housing development. Divided into two complementary sections, the book first provides an overview of the effectiveness of existing federal and state housing programs in the United States, such as the LIHTC and TIF programs. In turn, the book’s second section presents an extensive discussion of and insights into the financial feasibility of an affordable real estate development project. Researchers, policymakers and organizations in the public, private and nonprofit sectors will find this book a valuable resource in addressing the concrete needs of affordable housing development. 

“Luque, Ikromov, and Noseworthy’s new book on Affordable Housing Development is a “must read” for all those seeking to address the growing and vexing problem of affordable housing supply.  The authors provide important insights and practical demonstration of important financial tools often necessary to the financial feasibility of such projects, including tax-increment financing and the Low-Income Housing Tax Credit.  Further, the authors provide important backdrop to the affordability crisis and homelessness. I highly recommend this book to all who seek both to articulate and enhance housing access.” 

By Stuart Gabriel, Arden Realty Chair, Professor of Finance and Director, Richard S. Ziman Center for Real Estate at UCLA

"Over several years Jaime Luque, Nuriddin Ikromov and William Noseworthy applied their analytical bent, and no small measure of empathy, to homelessness as actually experienced in Madison, Wisconsin – and they inspired multiple classes of urban economics students to join them. “Homelessness” is a complex web of issues affecting a spectrum of populations, from individuals struggling with addiction or emotional disorders, to families who’ve been dealt a bad hand in an often-unforgiving economy.  Read this book to follow Jaime, Nuriddin, and William as they evaluate a panoply of housing and social programs, complementing the usual top-down design perspective with practical analysis of the feasibility of actual developments and their effectiveness. Analytical but written for a broad audience, this book will be of interest to anyone running a low-income housing program, private and public developers, students, and any instructor designing a learning-by-doing course that blends rigor with real-world application to a local problem."

By Stephen Malpezzi, Professor Emeritus, James A. Graaskamp Center for Real Estate, Wisconsin School of Business, University of Wisconsin-Madison, and Dean, Weimer School of the Homer Hoyt Institute.

 

Jaime Luque holds the BNP Paribas Real Estate Professorship at ESCP Europe Business School. He was previously an Assistant Professor of Real Estate and Urban Economics at the School of Business of the University of Wisconsin-Madison, where this book was written. His academic research has been published in top journals such as the Journal of Economic Theory, the Journal of Public Economics, the Journal of Housing Economics, Economic Theory, Real Estate Economics, and Regional Science and Urban Economics. Jaime is the author of three books for business students: Urban Land Economics (Springer), Rays of Research on Real Estate Development (Business Experts Press), and The Subprime Crisis: Lessons for Business Students (World Scientific Publishing). He is the recipient of the 2017 Ideas Worth Teaching Award by The Aspen Institute Business and Society Program for his educational innovations to address affordable housing development.

 

Nuriddin Ikromov is an Associate Professor of real estate at the College of Business Administration at California State University (Sacramento, USA), and prior to his current position, he was a Visiting Professor at the Wisconsin School of Business. Nuriddin holds a PhD in real estate finance from the Pennsylvania State University (USA) and his research articles have been published in premier academic real estate journals such as Real Estate Economics, and Journal of Real Estate Finance and Economics. He is the recipient of the outstanding teaching award at California State University, Sacramento in 2015. He also served as the faculty director of the Business Honors program at the same school.

 

William Noseworthy is an Assistant Professor in the Department of History at McNeese State University (USA). He was previously a Lecturer at the University of Wisconsin-Madison in the Department of History. With more than a decade’s experience as a researcher and educator dealing with marginalized and low-income populations in the US and Southeast Asia, his research publications address narratives of low-income communities, migrant populations, labor history, land use change, policy, religious minorities, and linguistic minorities.

He was a founding member of the editorial board of the Journal of Cham Cultural Studies, a venue for community based research published in Vietnamese. He has also authored many articles and book chapters for ABC-CLIO, ABC-CLIO/Greenwood, and Gale Researcher’s pedagogically focused publications.