Affordable Housing

The development of affordable housing has become a primary objective of communities throughout California. Keyser Marston offers valuable services that assist clients in creating an inventory of successful affordable and workforce housing.  KMA has expertise helping layer and structure complex affordable housing transactions, as well as working with cities and counties to implement market-based inclusionary programs that achieve results in the real world.  The KMA team has been instrumental in helping our clients structure policies and partnerships that result in the construction of new affordable housing and rehabilitation of existing units.

Inclusionary Housing and Impact Fees

Keyser Marston tailors housing programs to fit local market conditions, policy objectives and fiscal realities, avoiding the “one size fits all” approach. KMA pioneered the methodology commonly used for jobs-housing linkage and residential nexus analyses We have also assisted dozens of cities and counties with their inclusionary housing programs, with services including analyses that assess the impact of the inclusionary requirements, the quantification of the supportable in-lieu fees, program design, and creation of implementation procedures..

Affordable Housing Transactions

Keyser Marston advises clients in structuring a wide variety of affordable housing projects, with transactions ranging from the complex leveraging and layering of multiple funding sources for multi-phased mixed-use projects, to the simple acquisition and rehabilitation of small infill developments. KMA has extensive experience working with funding sources such as Federal and State Low Income Housing Tax Credits, Federal HOME funds, Multi-Family Housing Program funds, Mental Health Services Act funds, and Affordable Housing Program funds offered by the Federal Home Loan Bank. KMA has also assisted a city in preparing an application for the Cap and Trade Program recently launched by the State.

Our Inclusionary Program Services Include:

  • Affordable Housing Impact Fees 
  • Commercial Linkage Fees
  • Inclusionary Program Design & Implementation Tools 
  • Layering of Density Bonus Law Requirements


Our Affordable Housing Transaction Services Include:

  • Financial gap analyses & site valuation analyses
  • Layering and Leveraging tests
  • Business Term Negotiations
  • Public-Private Transactions 
  • Ongoing Covenant and Residual Receipts Monitoring Services