Affordable Housing in 2025: A Recap of Expert Insights and Predictions
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The affordable housing landscape is constantly evolving, and 2025 will be no different. In a recent Resident Experts webinar, we brought together three industry experts with decades of experience in the industry—Alice Phetteplace from AIR Communities, Janice Haub from Paradigm Property Management Group, and Kelly Wakefield from Preferred Compliance Solutions—to discuss the trends shaping the future of affordable housing.
Optimism for Development and Creative Solutions
Currently, there is a sense of optimism about the future of affordable housing development. With the new administration potentially sustaining and even increasing incentives, combined with innovative approaches to land use and financing, there's reason to believe that the development pipeline for affordable housing will expand in 2025. A number of innovative strategies were highlighted, like building affordable housing on underutilized government land and even exploring options like the California project proposing affordable housing above a Costco.
New Housing Models and the Role of Technology
Beyond traditional apartment complexes, the group explored new housing models, such as smaller, self-sufficient units inspired by the tiny home movement, particularly in urban areas. The discussion then turned to technology’s role in affordable housing and how AI, smart home technology, and digital applications can streamline processes, improve the resident experience, and enhance access to affordable housing.
Talent Retention and the Importance of Support
Recognizing the challenges of staff retention in the affordable housing industry, the webinar emphasized the need for comprehensive training, technology tools, and support for on-site teams. The panelists stressed the importance of empowering staff with the knowledge and resources they need to feel confident and successful in their roles.
Looking Back and Moving Forward
Reflecting on the previous year, the group shared their perspectives on what they hoped to leave behind in the new year. Haub expressed a desire to see a return to mixed-income housing developments, while Wakefield highlighted the need for greater clarity and certainty around the implementation of HOTMA (Housing Opportunity Through Modernization Act).
The Driving Force: Making a Difference
Working in affordable housing is no easy task, but the work they do has the power to have a profound impact on the residents they work with. The coming year holds both challenges and opportunities for the affordable housing industry, but if you embrace innovation, prioritize resident experience, and invest in talent development, we can continue to create thriving communities and make a positive impact on the lives of those we serve.