Newswire • Management

NYU SPS Schack Institute of Real Estate Launches Certificate in Affordable Housing

December 12, 2022

For aspiring real estate professionals, the NYU School of Professional Studies (NYU SPS) Schack Institute of Real Estate is offering a new and distinct Certificate in Affordable Housing within its Continuing Education Department in the Spring 2023 semester. This new certificate serves as a primer for real estate professionals looking to branch into, or deepen their grasp of, the affordable housing market.

“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,” said Marc Norman, associate dean of the Schack Institute. “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.”

He 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.”

The Certificate in Affordable Housing comprises six courses, of which the following three are foundational and offered starting for the Spring 2023 semester:

  • Introduction to Affordable Housing will explain the history, evolution, and policies of affordable housing. Students will gain an understanding of the various federal, state, and local agencies involved; the programs they offer; how best to assess and access these programs.
  • Financing Affordable Housing will focus on structuring an affordable housing transaction utilizing bonds, LIHTC and additional subsidies.
  • Development Process for Affordable Housing will offer practical applications of selecting a site, a program, and cash flow to receive an allocation and complete the project’s financing successfully. It includes information on assembling a necessary team of architects, contractors, and land-use lawyers with prior experience developing affordable housing and knowledge of appropriate government agencies.