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GPS, not SOS: Revisiting Developers' Tips for Success

August 16, 2023

Even newcomers know that the development of affordable multifamily housing is a niche industry that requires a road map of highly specialized skills and knowledge. Anyone attempting to navigate its multiple programs and requirements must steer clear of several potential potholes along the way.

“Generally, only one-third to one-fourth of applications are approved annually,” said AHFA Multifamily Administrator David Young. “Due to the nature of the programs involved, these submissions require a sufficient financial investment with no guarantee of approval.”

To help you chart a course for success, we've called upon three experienced development professionals who have spent time in the driver's seat to provide direction, advice, and helpful reminders. Their remarks focus on three of the key challenges for participating in the affordable housing sector.

Developing sufficient experience, both as an individual and with the right team

Access to capital (loans and equity)

Willingness to take risks

AHFA thanks all of these individuals for sharing their time and expertise. Read their complete interviews at Developers' Tips for Success.