NEW YORK, NY – June 25, 2010 – (RealEstateRama) — A new study of New York low-income housing released today proves affordable housing development fuels economic gains in distressed neighborhoods. The study, commissioned by Local Initiatives Support Corporation (LISC) and Enterprise Community Partners (Enterprise) shows affordable housing development is a proven economic stimulus that can expand neighborhood spending power, raise surrounding property values and help low-income families stabilize their economic outlook. Enterprise and LISC released this report based on data analysis done by the Furman Center for Real Estate and Urban Policy at New York University and independent consultants.
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