Noel Khalil - Housing Costs
Many low-income families in the United States move in and out of homelessness as they struggle to make ends meet. A lot of them are trying to subsist on service wages that just do not pay enough for them to meet all of their expenses on any kind of regular basis.
One of the biggest expenses anyone faces is housing. By law any family that spends thirty percent or more of its annual income on keeping a roof over their heads qualifies for affordable housing. Affordable housing is vital to creating sustainable community development. But affordable housing is more than simply low-income housing; it also means a greater understanding of housing options, the relevance of other policy sectors for housing, and how it all comes together to impact on sustainability and livability in our communities.
When unemployment is high and wages don't keep up with the cost of living, the importance of affordable housing continues to grow. The availability of affordable housing creates diversity in communities, both for economic growth and for neighborhood development. Affordable housing also allows people to live in areas that are close to their jobs or schools.
Noel Khalil founded The Affordable Housing Partnership in 1991 in order to meet the housing needs of senior citizens and low-income families. Originally a developer, the company has since expanded to include a property management corporation. It also received a new name, and today is Columbia Residential, of which Mr. Khalil is the Chairman and Chief Executive Officer. He has been responsible for more than twelve thousand multi-family and single family housing units.