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As the need for affordable housing skyrockets throughout the country, The Schack Institute of Real Estate at New York University is now offering a new program aimed at helping real-estate professionals better understand the nuances of affordable-housing projects and markets.

This new area of study, which offers a “Certificate in Affordable Housing” once completed, (which can be applied towards continuing education credits depending on one’s field), is comprised of six different courses which are beginning in late January, 2023.

Marc Norman, Associate Dean of the Schack Institute of Real Estate, recently reinforced the importance of affordable-housing literacy within the industry’s changing landscape: “An understanding of affordable housing policy, finance, and development has become a critical skill for real estate professionals in every aspect of today’s market…Provision of affordable housing at various tiers is required for most large-scale mixed-use development and contributes to a healthy, equitable, and sustainable city.”

The course begins with three foundational seminars, including an introduction to affordable housing, a financing seminar, and a development seminar. These classes seek to explain the history and policies of affordable housing; how best to assess and access these programs; how to structure an affordable housing transaction; and, will afford insights into selecting a site, a program, and securing the cash flow needed to finance the endeavor.

Perhaps, most importantly, the course will guide students through the steps to formulate the necessary team of architects, contractors, and lawyers with prior experience in developing affordable housing, and will introduce attendees to the government agencies that will ultimately review and assess the project.

As Norman added, “Financing affordable housing involves public-private partnerships and layered financing. Having a working knowledge of this sector will help set professionals in investment, development, management, and construction up for success in this dynamic marketplace.”

Founded in 1967, the NYU School of Professional Studies (NYU SPS) Schack Institute of Real Estate now sits at the forefront of real-estate education, with enrollment growing to more than 1,000 full- and part-time students from across America, and almost 50 other countries, globally. Home to the widely-utilized REIT Center, the Center for the Sustainable Built Environment, and the newly established Urban Lab, the Institute also hosts national industry events, including annual conferences on real-state capital markets.

For more information about the Certificate in Affordable Housing course, the SPS Schack Institute, or NYU’s other programs, you can email the NYU SPS Continuing Education department at sps.realestate@nyu.edu.

A list of all courses offered under the new program can be found here: Certificate in Affordable Housing