Penciling Out: Financing Solutions for Affordable & Climate Forward Housing

The Boston Society for Architecture (BSA/AIA), AIA New York (AIANY), and AIA Los Angeles (AIA|LA) partnered on a five-part series on financing climate-forward, affordable housing projects aimed to educate stakeholders on how to stack financing, making green, decarbonized, and affordable housing a feasible reality for the future. In Boston, New York, and Los Angeles – three of the most expensive and regulated housing markets in the country – the production of green, affordable housing is shaped by a web of interlocking constraints. These include some of the strictest energy codes, antiquated zoning laws, high construction and land costs, and onerous permitting processes. At the same time, each region faces duel and urgent crises of housing affordability and climate change, making the stakes for building new housing higher than ever. This report captures the key takeaways from the series – offering practical tools, policy frameworks, case studies, financing strategies, and a call to action for advocacy at the local, state, and national level. By surfacing real examples and actionable insights, Penciling Out aims to support design professionals and decision-makers in turning policy ambition into built outcomes.