Research finds Supportive Housing helps surrounding neighborhood values.
In a recent study released by the Furman Center for Real Estate & Urban Policy at New York University found that supportive housing positively impacts the value of the surrounding neighborhood. Supportive Housing is affordable housing that provides support to people to live independently. People may be homeless, have physical disabilities, mental illness, ex-offenders, or history of substance abuse.
Different from transitional and temporary housing, residents sign long-term agreements to stay in supportive housing developments. Using abandoned lots or remodeling neglected buildings; supportive housing are usually found in neighborhoods that are distressed. On average the value of property is 4 percent less than properties over a 1000 feet away. 2-5 years after construction of supportive housing development values for properties 500 feet away see increases of 4 to 6 percent.
Original Report. from the Furman Center
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