Addressing the Missing Middle: The Prospect for Workforce Housing

In recent years, government officials have highlighted the lack of convenient and affordable housing for the workforce that is critical to a properly functioning community. The increasing need for workforce housing is evident in large cities like Los Angeles and smaller ones like San Clemente, California. In the early part of this decade, Joint Powers Act Authorities in California helped finance these projects utilizing essential function governmental bonds without impacting the local government’s balance sheet. This panel will explore the prospects for using the next generation of Public-Private Partnerships (P3s) to structure and finance the so-called “missing middle,” housing aimed at residents who earn too much for traditional affordable housing programs but not enough to afford middle-class single-family homes. These P3 structures, sometimes involving a 501(c)3 charitable organization as an owner, are also employed for other forms of social infrastructure including medical facilities, higher education structures and hotels.