The demand for affordable housing is now a national crisis. Home ownership is no longer attainable to most Americans. Rents surged 25% following the pandemic. The crisis is no longer limited to the poor. It impacts our parents and where they can retire, and our children, who cannot remain in the community where they were raised. It impacts our nurses, teachers, police, fire and emergency workers who may have to commute an hour to work in our communities. The crisis is here and can no longer be ignored,

This is an interactive workshop for developers, sponsors, investors, and finance leads on how to assemble the layered capital stack that makes affordable housing pencil.

In a single 90 minute live session, you’ll gain a clear, practical understanding of how Affordable Housing works from its unique capital stack to its taxing long term implementation. Your professor is the founder of the Georgetown Affordable Housing Initiative at Georgetown University. Their program is the largest affordable housing teaching program in the United States with 200 feasibility studies prepared covering 27 states and Canada.

Who This Workshop Is For: Developers and sponsors new to affordable housing, market-rate operators exploring the space, lenders and capital-markets professionals, investors, public-sector and economic-development staff, mission-driven organizations and landowners, and CPAs or advisors serving CRE.

The Affordable Housing Crisis & Why It Matters

- Why affordable housing can't pay for itself with conventional financing

- The decades-long divide between rent growth and income growth driving demand

- The aging population and the coming wave of senior housing need

- What affordable housing actually is, and who calls it home

Understanding AMI & Affordability

- How Area Median Income (AMI) is calculated and why it's regional

- Income tiers: extremely low, very low, low, and the 60% AMI standard

- How AMI determines both who qualifies and what rents can be

- The lesser-of rule: market rent less 10% vs. the 60% AMI cap

- What property managers need to know about these standards

Building the Capital Stack

- HUD 221(d)(4) construction-to-permanent financing, start to finish

- Low-Income Housing Tax Credits: 4% vs. 9%, and how credits are sold

- Qualified Census Tract (QCT) and DDA eligibility for the 30% boost

- State and local gap financing programs and how to source them

Underwriting & Financial Exhibits

- Project cost, NOI, and DSCR analysis

- Source & use of funds and the 20-year proforma

- The LIHTC calculation schedule and available-credit math

- How affordable deals are presented without a traditional IRR

YOUR INSTRUCTOR

This workshop is taught by Dr. Robert J. Cristiano, "Dr. Bob" to his students, a Capstone Professor in Georgetown University's Master of Professional Studies in Real Estate program and a 2019 recipient of the program's Outstanding Faculty Award. Before academia, he completed a 35-year career as a master developer, building master-planned communities as large as 10,000 acres along with apartments, homes, office, and retail. He has taught real estate for more than two decades, including a prior tenure at Chapman University, and brings a practitioner's view of how affordable and complex deals actually get financed and built, including pioneering work helping landowners and institutions convert underused property into needed affordable housing.

Format: Live, interactive 90-minute session over Zoom.

Can't attend live, or want to revisit? All registrants will receive a recording of the workshop afterward, so you can review the material on your own time or share it with your team.

Come prepared: Bring a real scenario, a site you're evaluating, a deal you're trying to structure, or a program you've never been able to make sense of. We'll reserve time for live Q&A, and the more specific you bring it, the more you'll get out of it.

About Bisnow Workshops: Bisnow Workshops combine our global reach with targeted educational sessions designed to shape, inform, and improve key elements of your business operations and decision making. Through partnerships with industry leaders, these sessions dive deep into the conversations defining our stages and publications, allowing you to make better and more informed decisions shaping your market's economic and community ambitions.