NYU Furman Center Speaker Series- The Price of Inclusion: Evidence from Housing Developer Behavior

Please join the NYU Furman Center for a lunchtime presentation on:

The Price of Inclusion: Evidence from Housing Developer Behavior

Evan Soltas

PhD Student
Department of Economics
Massachusetts Institute of Technology

Please RSVP here

In many cities, incentives and regulations lead developers to integrate low-income housing into market-rate buildings. How cost-effective are these policies? I study take-up of a tax incentive in New York City using a model in which developers trade off between tax savings and pre-tax income. I estimate the model using policy variation and microdata on all development from 2003 to 2015. The citywide marginal fiscal cost is $1.6 million per inclusionary unit. Differences in neighborhoods explain most of the cost premium over other housing programs. Weighing costs against external estimates of neighborhood effects, I detect "opportunity bargains" in some neighborhoods.

This event is open to members of the NYU community. Please register using the RSVP link above.