ELPN: The Challenges of Leasing Up Higher Income Units and How Projects Have Overcome Them
ZoomWith the advent of income averaging for Low Income Housing Tax Credit projects and new funding sources like CalHFA’s Mixed Income Program, more affordable housing projects are including units with income restrictions set above the previous standard of 60% of Area Median Income. These higher-income units present unique challenges to leasing up properties and maintaining targeted occupancy rates. Leasing, development, and marketing staff will discuss how these challenges have manifested, how they’ve planned for them, and what they’ve done to…