Views from the Northwest Bronx

For the third event in our virtual series and fundraiser, This is What We Do, UNHP brought together 31 Bronx housing operators from 12 organizations to discuss the issues that affect the housing they oversee to understand trends and emerging issues that jeopardize affordability. It is also What We Do to escalate these issues and seek to address the policies behind the issues. Read the full summary to learn more.

As we all continue to deal with the fallout from the pandemic, UNHP has been monitoring the effects on the multifamily housing world. In April of last year, we published a few posts hypothesizing about what we thought might happen in the multifamily affordable housing sphere. Now, we are taking stock of how our portfolio has been affected - what has helped us weather unexpected financial challenges and what is concerning us as we move forward.

In the midst of tough times due to the health and economic impacts of Covid-19, there is still much to be grateful for in the Bronx and at University Neighborhood Housing Program (UNHP). Almost a year into our transition to remote work and UNHP has managed to find a way to make significant strides towards our mission.

You may have heard about an Eviction Moratorium during Covid-19, that prevents tenants from being evicted during the Covid-19 crisis. It is true that there are many protections for tenants in place, but tenants must act to be protected. A moratorium places eviction on pause but does not cancel owed rent- so eviction proceedings can begin on renters who owe back rent when the moratorium is lifted.

The UNHP 2020 Affordable Housing Webinar & Fundraiser was held on Tuesday, September 22nd, and attended by over 100 viewers. A summary and a replay link can be found in this blog post. The webinar explored issues raised during this COVID-19 crisis - specifically the effect it has had on the NYC housing market - and what we think needs to happen as we move forward to ensure an equitable recovery.

Well-documented long-standing income, racial and ethnic disparities as well as health issues in the Bronx led to a disproportionate number of cases in the borough. 

In this post, we will focus on financing trends among owners and investors in private, rent-stabilized housing in New York City. Below is an attempt to capture some of the changes in the housing finance landscape over the past number of months and particularly since the beginning of the current public health crisis. Without predicting the future, we hope to raise a number of questions as to where that market is headed and how tenants might be affected, with an emphasis on data and  examples from the Bronx. 

We always understood that some people had a hard time with the Community Reinvestment Act, which passed in 1977.

The NWBCCC Reinvestment Project and UNHP are featured in this essay by Gregory Jost, a former UNHP staff member, and valued colleague. The essay was originally published by Urban Ominibus and developed out of Greg's research for a book on redlining in the Bronx. It demonstrates how data was an important organizing tool in the early days of the Community Reinvestment Act and remains important today as displacement and speculation threaten the Bronx and other low-income neighborhoods in NYC.

UNHP was one of the sponsors of the 10/29/18 CRA at a Crossroads Forum; Understanding the Impact and Ensuring the Future of the Community Reinvestment Act. The well-attended Forum was held at the Lincoln Center campus of Fordham University and featured a speech by FDIC Board member Martin J. Gruenberg and a community development panel.