Why Building New Affordable Projects Can Be Easier Than Preserving Old Housing – Bisnow – March 16, 2018

At Bisnow’s D.C. Metro Affordable Housing Summit, a conversation about how to add affordable communities led to APAH’s recent preservation of eight garden-style apartment buildings in Westover as an illustration. Preservation can often be harder and more expensive than building new construction projects.

Read the full Bisnow story here.

Excerpt: “There’s an interesting dynamic going on where actually preservation is more expensive than new construction,” Janopaul said. “The community loved that we were preserving these garden apartments, but it was really a challenge to finance and not as efficient as we would have liked.”