New York city and subsidized housing: Impacts and lessons of the city's $5 billion capital budget housing plan

Schwartz, Alex

doi:10.1080/10511482.1999.9521353

Cited by 40 publications

(23 citation statements)

References 7 publications

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“…One estimate suggests that the city spent 3.5 times more than the next 50 largest cities combined during the late 1980s (Berenyi, 1989). Another study estimated that in the mid-1990s, New York spent more than three times the total amount spent by 32 other large cities (Schwartz, 1999).…”

Section: Housing Investment In New York Citymentioning

confidence: 99%

Nonprofit housing and neighborhood spillovers

Ellen

Voicu

2005

J Policy Anal Manage

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Nonprofit organizations play a critical role in U.S. housing policy, a role typically justified by the claim that their housing investments produce significant neighbor-hood spillover benefits. However, little work has actually been done to measure these impacts on neighborhoods. This paper compares the neighborhood spillover effects of city-supported rehabilitation of rental housing undertaken by nonprofit and for-profit developers, using data from New York City. To measure these benefits, we use increases in neighboring property values, estimated from a difference-in-difference specification of a hedonic regression model. We study the impacts of about 43,000 units of city-supported housing completed during the 1980s and 1990s, and our sample of property transactions includes nearly 300,000 individual sales. We find that both nonprofit and for-profit projects generate significant, positive spillover effects. This finding in itself is significant, given the widespread skepticism about the impact of subsidized housing on neighborhoods. We also find some differences across sectors. First, the impact of nonprofit housing remains stable over time, whereas the effect of for-profit housing declines slightly with time. Second, while large for-profit and nonprofit developments deliver similar benefits, in the case of small projects, for-profit developments generate greater impacts than their nonprofit counterparts. These differences are consistent with theoretical predictions. In particular, in the presence of information asymmetries with respect to housing quality, the non-distribution constraint should lead nonprofits to invest more than for-profits in developing and maintaining features that benefit the broader community. Meanwhile, the fact that scale makes a difference to nonprofit impacts may reflect the capacity constraints often faced by smaller nonprofits. ©2006 by the Association for Public Policy Analysis and Management

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Section: Housing Investment In New York Citymentioning

confidence: 99%

Nonprofit housing and neighborhood spillovers

Ellen

Voicu

2005

J Policy Anal Manage

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“…Legal counsel and regulatory reforms can be provided to strengthen tenants' rights and fight illegal evictions, and local regulatory reforms, such as inclusionary zoning or developer set-asides, can require that developers of new, market-rate housing provide a set percentage of units that would be rented at affordable rates for low-income households (Kennedy and Leonard 2001). Such policies have been implemented in New York City, Los Angeles, Denver, San Francisco, and Boston, with some evidence of success in retaining low-income households (Newman and Wyly 2004;Schwartz 1999). Home ownership assistance programs can help low-income residents purchase a home, and ''circuit breakers'' can be used to provide a tax refund or credit when taxes exceed a percentage of the homeowner's income.…”

Section: Implications For Public Policy and Intervention Researchmentioning

confidence: 99%

Gentrification and Urban Children's Well‐Being: Tipping the Scales from Problems to Promise

Formoso

Weber

Atkins

2010

American J of Comm Psychol

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Gentrification changes the neighborhood and family contexts in which children are socialized-for better and worse-yet little is known about its consequences for youth. This review, drawn from research in urban planning, sociology, and psychology, maps out mechanisms by which gentrification may impact children. We discuss indicators of gentrification and link neighborhood factors, including institutional resources and collective socialization, to family processes more proximally related to child development. Finally, we discuss implications for intervention and public policy recommendations that are intended to tip the scales toward better outcomes for low-income youth in gentrifying areas.

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“…The results from the study indicated that appreciation rates in underserved areas, defined on the basis of median income, are at least as high or higher than those in other areas with volatility. A study by Schwartz (1999) of the subsidized housing program in New York City indicated that a well-funded program could have significant social impacts on the immediate community. The results of the study suggest that subsidized housing investments correlate most strongly with reductions in vacant units and vacant lots.…”

Section: Background Literaturementioning

confidence: 99%

The Impact of Community Development Corporations on Neighborhood Housing Markets

Smith

2003

Urban Affairs Review

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Housing investment activities of community development corporations (CDCs) can be associated with a positive impact on the residential real estate market within their respective service area. Relying on a pseudo-experimental approach, the appreciation rate of single-family housing in CDC treatment and comparison areas is tested with a traditional hedonic model with pooled data. The results suggest that the area that is served by the 12 established CDCs operating in Center Township in the city of Indianapolis experienced a higher overall appreciation in the mean residential home value from 1987 to 2000 than did a comparison area in Center Township not served by CDCs.

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New York city and subsidized housing: Impacts and lessons of the city's $5 billion capital budget housing plan

Cited by 40 publications

References 7 publications

Nonprofit housing and neighborhood spillovers

Nonprofit housing and neighborhood spillovers

Gentrification and Urban Children's Well‐Being: Tipping the Scales from Problems to Promise

The Impact of Community Development Corporations on Neighborhood Housing Markets

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