This is so interesting to me. Seattle is in the infant stage of setting up a social housing program. But i sort of doubt the city is a big enough entity to make it work.
I wonder if the french financing scheme is at this point, self sustaining. Does the interest income and principal repayment amount to enough so that no ongoing subsidy from the state is required? No that would be v cool.
Take Paris Habitat, the city’s largest social landlord: roughly half of the financing for its 2024 new homes came from below-market-rate loans from a public bank, and about a third from public grants, including from the City of Paris, which also guarantees Paris Habitat’s loans.
The rents repay the loans, but without the grants and tax breaks the sums wouldn’t work.
This is so interesting to me. Seattle is in the infant stage of setting up a social housing program. But i sort of doubt the city is a big enough entity to make it work.
I wonder if the french financing scheme is at this point, self sustaining. Does the interest income and principal repayment amount to enough so that no ongoing subsidy from the state is required? No that would be v cool.
Thanks for your comment. In short, no.
Take Paris Habitat, the city’s largest social landlord: roughly half of the financing for its 2024 new homes came from below-market-rate loans from a public bank, and about a third from public grants, including from the City of Paris, which also guarantees Paris Habitat’s loans.
The rents repay the loans, but without the grants and tax breaks the sums wouldn’t work.