Urban Homeworks proposes reducing the costs of the critical work for organizations that develop smaller multi-family units (2 to 20) by granting a systematic waiver for site control at funding application. By providing a site control waiver for the development of smaller, unstable multi-family units, the cost benefits would include; reducing the acquisition and holding costs for developers, providing site selection flexibility, shortening development timeframes, and maximizing neighborhood stability. We share our idea in the hopes that it would impact the application process moving forward to make it more inclusive and affordable for developers working in the small multi-unit property market. The impact would be realized on a broader scale by allowing organizations like ours to secure financing and then purchase properties in a market dominated by absentee landlords with cash ready to invest.
Download the Funding Process submission