The Affordable Housing Summit! 2024

Date: November 13, 2024 Time: 8:00 PM
Location: Butcher & Banker’s Cocktail Vault, The New Yorker Hotel
410 W 16th St, New York, NY 10011

Butcher & Banker's Cocktail Vault, The New Yorker Hotel

Join Us at The Cocktail Vault
For an Exclusive Gathering
Following CREtech at The Jacob Javits Center

 

We are thrilled to invite you to The Cocktail Vault for an exclusive gathering with a select group after attending CREtech New York 2024. This is a unique opportunity to dive into important discussions about Affordable Housing and Social Business Enterprise.

Join us as we explore how we can make a positive impact in our communities while achieving our business goals. We look forward to sharing insights and collaborating on innovative solutions together.

What to Expect:

  • Insightful discussions on innovative solutions for affordable housing
  • Networking opportunities with like-minded professionals
  • Collaborative brainstorming on transforming the built environment

Let’s collaborate and share insights on shaping the future of real estate!

We look forward to seeing you there!

Hosted by:
Steve Schappert & Alizandria Rodriguez
Connecticut Real Estate Brokerage LLC

Co-Host & Guest Speaker:  Stan Bernard of Tremont & Grand


Embracing Innovation at CRETECH New York 2024

The real estate industry is undergoing a significant transformation, driven by technology and innovation. This year’s CRETECH New York 2024, held at the Jacob Javits Center, promises to be a pivotal event in shaping the future of real estate. As industry leaders, innovators, and enthusiasts converge, the focus will be on harnessing technology to address the challenges facing the built environment.

What is CRETECH?

CRETECH is a premier innovation conference dedicated to the real estate industry, showcasing cutting-edge technologies and trends that are redefining how we buy, sell, and manage properties. From smart building solutions to data analytics and AI applications, CRETECH provides a platform for thought leaders and innovators to share insights and discuss the future landscape of real estate.

Key Highlights of CRETECH New York 2024

  1. Innovative Solutions: Attendees will explore groundbreaking technologies that enhance operational efficiency, improve tenant experiences, and create sustainable building practices. The conference will feature presentations from leading companies in proptech, discussing their latest advancements and case studies.
  2. Networking Opportunities: CRETECH is not just about learning; it’s also about connecting. The event will provide ample opportunities for networking, allowing professionals to meet potential partners, investors, and collaborators who share a passion for innovation in real estate.
  3. Focus on Sustainability: As the world becomes more environmentally conscious, the discussion around sustainable practices in real estate is more critical than ever. CRETECH will highlight strategies for incorporating sustainability into building design and management, ensuring that the industry moves towards greener practices.
  4. Affordable Housing Initiatives: One of the pressing issues facing the real estate market is the need for affordable housing. This year’s conference will feature discussions on how technology can help address this challenge, promoting innovative solutions that benefit communities and foster economic growth.

    Understanding Social Business Enterprise

    In today’s rapidly evolving economic landscape, the concept of social business enterprise is gaining traction as a transformative model that blends profit-making with social impact. Unlike traditional businesses that prioritize shareholder profit, social enterprises focus on addressing societal challenges while ensuring financial sustainability.

    What is a Social Business Enterprise?

    A social business enterprise operates with the dual goal of generating revenue and creating positive social change. These organizations tackle various issues, such as poverty alleviation, education, healthcare, and environmental sustainability. The profits generated are reinvested into the business or the community, allowing them to scale their impact.

    Key Characteristics

    1. Mission-Driven: The core mission of a social enterprise is to solve specific social problems. This mission guides their operations and strategic decisions.
    2. Financial Sustainability: While social impact is paramount, these enterprises also focus on generating income through sales of products or services, ensuring they can sustain and grow their operations without relying solely on donations or grants.
    3. Community Engagement: Social businesses often involve the communities they serve, fostering collaboration and empowerment. This grassroots approach helps ensure that solutions are relevant and effective.

    Benefits of Social Business Enterprises

    • Innovative Solutions: By addressing social issues through a business lens, these enterprises can develop creative and sustainable solutions that traditional non-profits may overlook.
    • Economic Growth: Social enterprises contribute to local economies by creating jobs and stimulating economic activity while addressing pressing social issues.
    • Positive Social Change: By focusing on specific challenges, social enterprises can create measurable impacts, improving the quality of life for individuals and communities.

    Conclusion

    Social business enterprises represent a powerful way to merge economic activity with social responsibility. As more entrepreneurs embrace this model, we can look forward to a future where businesses not only thrive financially but also uplift and empower communities.


The Affordable Housing Challenge in Connecticut

Homelessness in Connecticut is a pressing issue that requires serious attention, especially as reports indicate that the problem is growing. However, recent claims by activists that the state needs 94,000 units of affordable housing to tackle this issue warrant scrutiny. According to the state’s January 23, 2024 Point-In-Time data, only 3,400 individuals reported being unhoused. This discrepancy—activists suggesting a need nearly 30 times greater than the documented population—highlights a significant misalignment between proposed solutions and the reality of the situation.

If Connecticut is genuinely committed to addressing homelessness and housing challenges, it must adopt clear-eyed and realistic policies rather than relying on inflated figures and hidden agendas. A critical first step is recognizing that poorly designed laws, unnecessarily onerous building codes, and inflated construction costs are significant contributors to the affordability issues that advocates lament.

Flawed Solutions

Local homeless organizations often propose a single solution: demand that municipalities provide more “affordable housing” throughout the state. Yet, as emphasized in the Yankee Institute’s (YI) recent study, “Getting a Handle on Affordable Housing,” this approach is fundamentally flawed.

Connecticut’s 8-30g statute—which mandates that 10% of housing in every town be classified as “affordable”—does more harm than good. A critical aspect of this law is its narrow definition of what constitutes affordable housing. Only government-subsidized units or those built after 1990 are counted toward the required quota. This exclusion means that many older homes or private rental units, which could meet affordability criteria without government intervention, are disregarded.

The Consequences of Misguided Policies

As towns scramble to meet the arbitrary quotas set by the 8-30g statute, they overlook a broader spectrum of existing affordable housing options. This short-sighted focus on meeting specific numerical goals often leads to unintended consequences: driving up the cost of housing and limiting flexibility within the market.

When municipalities are fixated on fulfilling quotas, they inadvertently reduce the overall housing supply by ignoring naturally affordable alternatives. This lack of variety exacerbates the affordability crisis, as the housing market struggles to keep pace with demand. With fewer affordable homes available, individuals and families are forced to compete for a limited number of options, further inflating prices.

Moving Forward

To genuinely address the challenges of homelessness and housing affordability in Connecticut, policymakers must focus on comprehensive solutions that encompass the entire housing spectrum. This means reevaluating existing laws like 8-30g, simplifying building codes, and reducing construction costs to encourage a diverse range of housing options.

By fostering an environment where naturally affordable housing can thrive, Connecticut can make meaningful strides toward alleviating the homelessness crisis and improving overall housing affordability. It’s time for realistic discussions and actionable policies that reflect the true needs of our communities.

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