Economic Impact Analysis of Affordable Housing Developments
The Houston Housing Authority (HHA) contracted with Econometrica to analyze the site benefits, neighborhood effects, and economic impacts of the development of new affordable housing on three sites around the Houston, TX, area. These studies were intended to support HHA’s application to HUD for funding approval and to provide advice to HHA on the feasibility and desirability of its development plans. One project would replace a public housing project that had been demolished due to extensive hurricane damage. The other two were mixed-finance projects that would be built with Low-Income Housing Tax Credit financing. Issues examined included affordable housing preservation needs, compliance with fair housing standards, transportation linkages, and integration with the city’s development plan. Econometrica toured the sites, collected data on the sites and surrounding areas, analyzed the data, and estimated the social and economic impacts of developing and operating the sites as affordable housing.