Subsidized housing is a very specialized property type. The government provides subsidies to tenants and landlords in exchange for restrictions that are placed on property use. This property type rarely transfers ownership, and sales data is difficult to obtain. Cash flows serve as a very important consideration in the valuation of this type of property.
We have prepared valuations of numerous subsidized housing projects throughout Pennsylvania. Section 515, Section 202, Section 236, and Section 8 subsidized projects all require different forms of analysis in their valuation. We have presented expert testimonies before boards and courts on this issue. Our understanding of the operation of this property type is documented over the last 20 years of our practice.