Microsoft’s commitment to funding affordable housing is a model for Detroit corporations
By Dennis Archambault
It was reassuring to read about Microsoft’s commitment to fund affordable housing in Seattle, sending a message to other U.S. corporations who focus their corporate responsibility investments in social improvement (https://www.nytimes.com/2019/01/16/technology/microsoft-affordable-housing-seattle.html). The severe lack of housing for the poor, compounded by the lack of federal action in this area, has created a crisis in many cities throughout the country. While organizations like the Senior Housing Preservation – Detroit is focused on preserving existing housing for low income seniors in Midtown and Downtown Detroit, we are anticipating a tsunami of people retiring without sufficient savings to sustain housing. Businesses are in the best economic position to help resolve this crisis.
A key consideration needs to be defining what “affordable” means. Generally, in the housing sector, “affordable” is defined by the average median income (AMI). The standard for affordable housing in Detroit is 80 percent AMI. Low income housing advocates are focused on housing that is affordable for people earning less than 30 percent AMI.
In any case, to have corporations establish supportive policies regarding investing in affordable housign is a good sign. Once we address housing security, we need to also address the health component in low income housing.
Dennis Archambault is vice president, Public Affairs, at Authority Health.