Basement units are naturally affordable. Making it easier to add these units may also help discourage deconversions of 2-flats, and improve stability of owner-occupants of 2-flats. Preservation Compact and partners are delving into strategies to do just that.

Without government coordination, existing government assisted buildings can fall between the cracks, losing affordability forever. The Preservation Compact brings government and tenant stakeholders together to identify and preserve buildings before the crisis hits.

Property taxes drive rent levels. With industry and community partners, the Compact proposed a new state tax incentive to spur long-term rental affordability. Careful Compact analysis shows effects across different neighborhoods – with minimal fiscal impact.

Improving energy efficiency helps affordability, livability, and the environment. The Preservation Compact launched the Energy Savers program – a one-stop shop and attractive financing – to encourage owners to retrofit their buildings.

Buildings with 1-4 units comprise over half of the rental stock. After the market crash, blighted 1-4s threatened the viability of entire blocks. The Compact uncovered a solution for responsible investors: a new $48 million loan pool, alongside a $1.5 million acquisition pool.

Research into naturally occurring affordable housing (NOAH) is critical to understanding how to preserve this essential resource. In partnership with the Institute for Housing Studies at DePaul, the Compact conducted research linking effective preservation programs to specific market types using both qualitative and quantitative research. This project provides valuable insights into strategies for maintaining NOAH across market types.