— By John Williams, president, CIO and COO of Avanath Capital Management — It’s no secret that the dire shortage of affordable housing is an ongoing issue throughout the nation. The National Multifamily Housing Council reported in 2022 that the United States would need to build 4.3 million new apartments by 2035 to meet demand. The report also stated that the nation’s number of affordable housing units declined by 4.7 million from 2015 to 2020. Unfortunately, there is no one-size-fits-all solution to the problem. Both local and federal governments are taking steps to address the lack of supply in the market. President Biden’s 2024 Economic Report to Congress, for instance, prominently featured plans to increase the supply of and access to affordable housing. In the meantime, however, stakeholders must think outside the box to identify innovative ways to provide attainable housing. One effective way to do this, beyond the standard avenues, is through public-private partnerships. Public-private partnerships are a strategy that can benefit a wide range of stakeholders — including investors, developers, institutional owners, operators, property managers, service providers and leaders in nonprofit and government entities. In addition to serving renters with lower incomes and other specialized needs, actively pursuing these partnerships …
