Preserving Affordability Through Condo Conversion: A Private Capital Model скачать в хорошем качестве

Preserving Affordability Through Condo Conversion: A Private Capital Model

As affordable housing providers grapple with aging properties, expiring affordability, and assets that are increasingly difficult to sustain, new preservation tools are urgently needed. This session introduces an emerging model for preserving affordability: the conversion of apartment buildings into affordable condominiums using private capital. Presenters walk through real-world examples from Oregon where private investment was mobilized quickly to acquire apartment properties, complete needed improvements, and convert units into affordable condos that existing residents could purchase. Unlike traditional preservation approaches, this model does not rely on scarce public preservation funds, allowing housing providers to stabilize challenging assets while preventing loss to market-rate investors. In at least one case, the CondoFund model prevented mass displacement by preserving dozens of units that otherwise faced eviction at closing. The session explores when affordable condo-ization works well, where its limitations lie, and how it compares to other preservation strategies. Speakers also examine points of overlap and distinction between this approach and Tenant Opportunity to Purchase (TOPA), clarifying how each tool fits into a broader preservation and homeownership ecosystem. This discussion is particularly relevant for housing providers, policymakers, advocates, and lenders concerned with preserving affordability, expanding moderate-income homeownership, and stabilizing vulnerable housing portfolios. Presenters: Bjorn Beer, Vice President, SVN (Consultant to CondoFund) John Laine, Founder, CondoFund Presented at the Housing Oregon 2025 Annual Conference.