|PowerHousing able to arrange key strategic meetings on behalf of members. These meetings, held across New York City, were an informative and productive exercise. We aim to build relationships to help create a network of international expertise that will inform the work we do.
The United States has more than 30-years of experience with the Low-Income Housing Tax Credit (LIHTC), which created an investment ecosystem around affordable housing delivery. We aim to create a similar ecosystem within Australia, with ambitions to build a globally relevant asset class. Our work creating a Global Asset Class for Affordable Housing (see the 2019 Paxon report) will be amplified by this kind of engagement.
Our New York meeting destinations include:
- NYU – Furman Center
- Pension Real Estate Association
- United Nations
- Morgan Stanley
- City of New York Cooperatives
- New York City Housing Authority
- Sendero Verde site visit – we thank Tim Williams for helping coordinate this visit
The pre-tour meetings with Morgan Stanley, Pension Real Estate Association, BWD, Federal Reserve Bank of New York, Amazon and others provided deep insights into impact and ESG investment and we will be sharing our Yield Stack modelling and Global Asset Class 2.0 work (both currently in development) with them for their feedback.
As the fourth trip to engage in these meetings, it is our vision that the 30 plus year affordable asset class can operate in a similar manner here in Australia. Their eagerness to assist will be represented by Morgan Stanley and BWD USA being keynotes in Australia at our November conference.
We hope to share our IHP and pre-tour report and findings with Members over the next week.