Rodger Hara, an authority on affordable housing, came to Leeds as part of the Etkin Symposium speaker series to explain the inner workings of the affordable housing market, reveal how projects get funded, and look toward the future.
Picture an upside-down, multitiered wedding cake. That’s the image Rodger Hara used to illustrate the “capital stack” behind financing affordable housing projects. Each layer represents a different stakeholder—from lenders and investors to property managers and everyone in between (each with their own lawyers, which adds to the complexity). The challenge? “The cake isn’t done until the smallest layer is baked.”
And there’s another caveat: “Things are changing very rapidly”—a reality Hara has witnessed repeatedly, especially in the past year.
How affordable housing works
Hara is the consummate authority on affordable housing, consulting in…
