Commercial Real Estate
JPMorgan Chase’s progress preserving affordable housing
In two years, the Affordable Housing Preservation program has already achieved its goal to preserve 100,000 affordable housing units.
There’s no city or state in the U.S. with an adequate affordable housing supply. That’s why, as part of its Racial Equity Commitment, JPMorgan Chase made a commitment to provide $14 billion in new loans, equity investments and other financing to expand affordable housing in underserved communities by 100,000 units.
A key part of that effort is the Affordable Housing Preservation Program, which offers a pricing incentive to qualified property owner/operators who keep their rents affordable.
Kurt Stuart, Director, Commercial Term Lending Northeast, JPMorgan Chase, spoke with Commercial Observer about the program’s goals and progress.