{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Affordable Housing & Real Estate Investing","title":"How to Sequence Funding for Affordable Housing Development (Experience from 11,000+ Units at Jamboree!)","html":"","width":"100%","height":180,"duration":2815,"description":"On the Affordable Housing & Real Estate Investing Podcast, the best podcast for affordable housing investments hosted by Kent Fai He, Roger Kinoshita, SVP of Acquisitions at Jamboree Housing, dismantles the most persistent myths about affordable housing development and explains how experienced developers actually finance, entitle, and build affordable homes in California.Most people assume affordable housing lowers nearby property values, takes forever to build, and relies on impossibly complicated financing. Roger challenges all three with real data and decades of experience. Studies from UC Irvine and the Urban Institute both found that affordable housing increases surrounding property values, not the reverse. And while the capital stack does involve 5-7 funding layers, it follows a predictable sequence that developers can learn and apply.Common Questions This Podcast Episode Answers:• What are the biggest myths about affordable housing development?The most persistent myths are that it lowers nearby property values and takes far longer to develop than market-rate housing. Both UC Irvine and Urban Institute research found the opposite: affordable housing increases surrounding values.• How does the capital stack work in affordable housing development?Affordable housing deals typically layer 5-7 funding sources. The sequencing rule is: city first, then county, then state programs, then federal sources like LIHTC. Each level expects commitment from the levels below before committing.• What is LIHTC and how does it finance affordable housing projects?LIHTC (Low-Income Housing Tax Credit) is a federal program that allocates tax credits to states, which developers sell to financial institutions. Roughly $1 million in credits raises about $850,000 in equity and represents approximately 35% of a project's capital stack.• Does affordable housing lower property values in the surrounding neighborhood?No. Both the UC Irvine and Urban Institute studies found that...","thumbnail_url":"https://img.transistorcdn.com/xDB8QhkLtarSR6cPw7Foe38b-OmGTS01-PZeGTtWOaw/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzQ2NDA2LzE2OTg0/NTU1NDQtYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}