(From left) Cinnaire’s Trey Phillips, Cinnaire’s Bernardo Sanchez, Wespath’s Sylvia Poniecki, Cinnaire’s Mark Stay, property manager Chery Pearson, property maintenance technician Calvin Clinkscales and Wespath’s Johara Farhadieh pose for a photo during Sylvia and Johara’s visit to Broadview Senior Apartments.
Wespath’s PSP Lending Program helps address the need for affordable housing The longstanding shortage of affordable rental housing in the U.S. is staggering and heartbreaking. There is neither a state nor a major metropolitan area in the country that has enough affordable housing for the lowestincome renters, according to the National Low Income Housing Coalition (NLIHC). The lowest-income renters have incomes at or below either the federal poverty guideline or 30% of their area median income, whichever is greater. The U.S. has 10.9 million extremely low-income renter households, and there is a shortage of 7.1 million affordable and available rental homes, according to NLIHC. Wespath’s PSP Lending Program has been helping to address the affordable housing issue since 1990 while also fulfilling Wespath’s fiduciary duty.
The PSP Lending Program since its launch
More than $2.0 billion invested in U.S. affordable housing 34
Over 54,000 units created or preserved
Investments in all 50 states