PODCAST: Goldman Sachs Head Of Urban Investment On Spurring Affordable Housing Post-Pandemic
Bisnow has a podcast chronicling how members of the commercial real estate industry are dealing with the impact of the current global health crisis. The economic impacts are vast, and it is forcing businesses to adapt and make difficult decisions.
In this series, Make Yourself At Home, we are hearing from members of the commercial real estate industry about how they are managing this new reality and gaining insight into their day-to-day approaches. You can subscribe on iTunes and Spotify.
In this episode, we speak to Margaret Anadu, who is head of the Urban Investment Group at Goldman Sachs. In New York, the group is helping to fund Essex Crossing, a 6-acre, mixed-use development with retail, office and public spaces, as well as more than 1,000 new apartments on the Lower East Side.
Here, she talks about getting capital to small businesses and what kind of impact the coronavirus will have on the development of workforce and affordable housing in the United States.
“If new development slows and the creation of affordable housing ... What I’m hoping what might offset that is an increased focus,” she said. “We’re hopeful that [the pandemic impact] is going to raise the discussion to a new pitch and spur new kinds of initiatives and discussion around housing — even in a moment where, even from just the pure financing of it, we are all going to have to be creative.”