High costs still impede affordable housing development

Even with a declining real estate market high acquisition costs are still impeding the development of affordable housing in NJ. On Wednesday October 3rd the Star-Ledger published an article entitled “It’s getting more expensive to build affordable homes“. The article highlights the problems on the Plainfield habitat as well as other Habitat affiliates.

Today, despite the recent housing slump, those Habitat affiliates as well as others around the state and across the country are being priced out of properties. They will either be forced to close or change the way they do business. 
 
Jane Sapienza, vice president and head of land acquisition for Plainfield Habitat, said she constantly agonizes over that dilemma. 
 
“If I don’t have a constant flow of properties, I can’t do it,” she said in an interview from the organization’s office, which volunteers renovated. “It’s our single biggest challenge.”
 
 And it’s the new reality for Habitat affiliates, which “have had to become more creative in obtaining land that’s affordable so they can continue their work in communities,” said Duane Bates, director of public relations for Habitat for Humanity International in Atlanta. 

To read the full article click here.