Affordable Housing Strategy

For 40 years, HR&A has guided the design and implementation of the innovative programs that produce and preserve affordable housing.


HR&A works with public and private sector clients across North America to formulate affordable housing strategies, redevelop public housing projects and assist with the implementation of affordable housing policies and programs. HR&A has worked with jurisdictions to prepare affordable housing development financing plans, including the design of public-private real estate partnerships and the issuance of tax-exempt financing and tax-advantaged equity investments. The firm has a long history of consulting for diverse players in the housing development industry including:


  • The Department of Housing and Urban Development (HUD);
  • Private lenders;
  • Public lenders;
  • National intermediaries (e.g., NEF, CEF, LISC, Enterprise Foundation);
  • Local public agencies;
  • Community-based, non-profit developers;
  • Affordable housing industry organizations; and
  • Some of the nation’s leading private residential development organizations.


HR&A is involved in all aspects of designing and implementing affordable housing strategies.

On behalf of our clients we:


  • Prepare housing and community development policies and needs analyses, at the neighborhood, district, city and county level;
  • Design, implement and evaluate innovative programs to produce and preserve affordable housing, including inclusionary housing, “linkage fee” and density bonus programs;
  • Design and implement financing programs;
  • Review proposed affordable housing development projects for compliance with local programs and financial feasibility;
  • Manage public sector affordable housing developer solicitation and selection processes;
  • Draft and review loan documents and negotiate with loan underwriters; and
  • Prepare and analyze development financing plans, including market studies, design of real estate partnerships involving complicated tax and legal structures with public and private participants, issuance of tax-exempt financing and structuring of tax-advantaged equity investments.