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March 24, 2025
The third week of March 2025 brought forward a range of affordable housing developments across the U.S., from preservation efforts in historic buildings to local protests over policy shifts and a new national report signaling long-term risks to affordable housing supply. These stories reflect the complex landscape of housing policy, local engagement, and the pressing need for both innovation and accountability.
1. San Antonio Housing Trust Moves to Preserve Historic Affordable Housing
The San Antonio Housing Trust Foundation is working to acquire the historic Robert E. Lee Apartments, a 72-unit property in downtown San Antonio, to keep the units affordable and protect current residents. The building, built in 1923, is aging and in need of modernization, with rent and income restrictions due to expire in 2026.
The Trust faces competition from developer Weston Urban, who previously offered $4.35 million to purchase and redevelop the site. Residents worry that a private sale could displace low-income tenants. The Trust hopes to secure city funding to support both acquisition and renovation.
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2. Brooklyn Community Protests City’s Shift from Affordable Housing to Shelter
Residents of Brooklyn’s Sheepshead Bay neighborhood are pushing back against a city decision to convert a planned affordable housing development into a homeless shelter. The original project at 2134 Coyle Street was slated to bring 119 affordable units with retail space, but plans shifted after the initial developer pulled out.
Non-profit group Westhab is now proposing a 169-unit family shelter. Protesters—including parents, business owners, and local officials—expressed concerns about transparency, safety, and the shelter’s proximity to schools. City officials have defended the change, saying the facility will include security and prioritize local families.
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3. Report Warns of 850K Affordable Units at Risk Over Next Decade
A new report from Yardi Matrix warns that more than 850,000 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program are at risk of converting to market-rate between 2025 and 2038. These units are nearing the end of their compliance periods, meaning landlords will no longer be required to keep rents affordable.
In 2025 alone, over 29,000 units could lose affordability protections. While new LIHTC developments are projected to add 25,000 units, the report notes some states—like Ohio and Maryland—could still face net losses. The findings highlight the urgent need for federal and state policies to preserve affordable housing stock.
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