Affordable Housing’s Liability Insurance Program: “A New Path Forward”

Publication: NYU Furman Center Fall Speaker Series

The Milford Street Association was founded by a group of affordable housing developers to confront and mitigate the unsustainable rise in liability insurance costs. Liability insurance expenses in NY have surged beyond the capacity of basic operational costs and rents, causing many affordable housing projects to face total collapse. Despite this looming crisis, the government has shown little inclination or capacity to intervene. The Milford Street Captive is both an economic and operational platform designed specifically for the affordable housing sector. Its creation represents a decisive act of self-preservation by its owners and managers, intended to protect and preserve affordable housing as an indispensable resource for the residents of our City and State.

Click here for the article online.