Stock image of a building with scaffolding.
Preservation Framework & Matrix Strategies
The following is a part of our series on preservation best practices. You can find the other two briefs: Coordinating Preservation through an Inter-Agency Working Group and Stabilizing Affordable Housing in a Time of Rising Costs.
Preserving existing affordable housing is almost always cheaper and faster than building new affordable homes, especially in high-cost or built-out communities with limited land. In our current resource-constrained environment, state and local governments must organize efforts around a clear, unified preservation strategy that aligns priorities and coordinates resources across government agencies and with external partners. A preservation strategy is often composed of two tools:
- Preservation Framework; a description of the importance of preservation; identifies and articulates preservation goals, and analyzes the risk landscape across an entire affordable housing portfolio or region.
- Preservation Matrix; an evaluation and ranking of individual properties based on risk factors to determine the appropriate level of funding or other necessary intervention needed to keep the property safe, healthy, and affordable.
These two policy documents work in tandem to support the preservation of affordable housing. This brief outlines the best practices for a preservation strategy as exemplified by Massachusetts, Florida, Oregon and Minnesota.