For residents of the Laureate, rent is permanently affordable. Their homes are publicly owned and governed with their input.
The Laureate, in Montgomery County, Maryland, is an early example of social housing. Built in 2023, the project represents a new model for affordable housing: one that doesn’t rely on typical, market-based affordable housing programs like tax credits, developer incentives or public vouchers funnelled into the hands of private landlords.
The public can end up on the losing end of deals focused on enticing developers to build more affordable housing. This reality is exemplified by the city’s ongoing struggle with the developers of Block 216, home to the Ritz-Carlton in Portland. In this case, developers for the building opted to pay a $7.8 million fee instead of including affordable units required under Portland’s Inclusionary Housing program. But developer BPM Real Estate Group hasn’t paid. In the end, tax breaks meant to serve the public helped build luxury homes that so few Portlanders could afford, the development is facing foreclosure…