Preservation and Beyond: Effective strategies to preserve the naturally occurring affordable housing stock, the government assisted stock, and create affordability where it is needed most

The Preservation Compact's biannual report, Preservation and Beyond, details affordable housing preservation strategies developed and implemented in Cook County over the last two years. Keeping tabs on the supply and demand of the rental stock keeps The Preservation Compact on track as they develop and deploy different preservation strategies. Some approaches are tailored to specific markets and financing, while others can reduce costs for all buildings. The following arsenal of strategies is characterized by: 

• Market based approaches: Weaker markets need community development - including financing for buildings historically neglected by the market. In contract, the flow of credit in stronger markets can help power preservation strategies. 
• Cost based approaches: Universal cost drivers like energy, property taxes, and rehab costs can be curbed, or at least held in check, to preserve buildings. 
• Governments financing approaches: buildings with public subsidies need strategies built on proactive government coordination to preserve affordability. 

For more information on The Preservation Compact, click here.