By: Nick Pipitone
Washington, D.C.-based affordable housing developer Neighborhood Development Co. (NDC) recently closed after 25 years, citing the impact of D.C.’s extended eviction processes and rising operational costs as unsustainable. Pandemic-era policies slowed evictions for nonpaying tenants, leading to millions in unpaid rent across local housing firms, further straining revenue as utility and maintenance costs spiked. This reflects the broader struggle for affordable housing developers nationwide, who face skyrocketing costs, regulatory hurdles, and funding gaps that make their projects increasingly difficult to sustain.
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