Ways to Listen
Pandora
Overcast
Episode Outline
00:29 Welcome Back, Liz and Maya celebrate 18 episodes of Authentic Conversations.
03:15 Meet Mark Etheridge
6:00 Mark reflects on financing apartment acquisitions during the mid-2010s and the growing concern about displacement and loss of naturally affordable housing
08:25 The table discusses Charlotte's housing cycles and how many "luxury apartments" of the 1970s became today's affordable housing stock.
10:19 Mark drops a gem “82% of the housing in the country is Market rate, unrestricted, unincumbered”
11:03 Liz shares a powerful analogy comparing affordable housing preservation to used cars. “you can’t build a used car”
13:40 The table discusses replacement costs, inflation, and why older apartments are irreplaceable community assets
15:02 Mark drops a gem, “We have to stop bleeding of what we’re losing. Preservation has to be a part of the story.”
15:07 Mark shares, we lose 3,000 units of market rental housing a year to price appreciation in rents and/or demolition
16:11 Mark discusses meeting Erskine Bowles and Nelson Schwab in 2020, their shared commitment to addressing Charlotte's housing challenges, and the launch of the first Housing Impact Fund
18:40 Mark gives Liz and Maya an overview of Ascent Housing's three preservation funds:
Fund I: $58 million
Fund II: $67 million
Fund III: $102 million
23:27 Maya asks Mark to explain what ‘NOAH’ means Naturally Occurring Affordable Housing and how market-rate housing often serves lower-income households
24:24 Mark shares the story of Shamrock Gardens
Preservation of a 265-unit apartment community built in the 1960s.
Average rents were approximately $500 per month at acquisition.
How partnerships helped protect affordability and prevent displacement.
Current residents’ rents remain remarkably affordable, including Liz’s family-friend Miss Kim
28:15 Mark gives an Overview of Innovative Supportive Housing programs. Including housing opportunities for:
Seniors on fixed incomes
Young adults aging out of foster care
Refugees
Individuals with disabilities
Undocumented residents
31:57 Maya gives Mark his flowers and Liz recognize Mark's impact on Charlotte's housing ecosystem
35:20 Mark recognizes his wife, her influence and the leadership and vision of Erskine Bowles and Nelson Schwab
38:29 Mark shares a recent story of a family experiencing housing instability while caring for a hospitalized child.
41:28 Liz explains Area Median Income and why it matters
43:15 Maya asks Mark to share one authentic thing about himself. He shares a personal story about his vintage 1984 blue Dodge truck. A reflection on seeing value in older things, whether a truck or an apartment community
47:25 Mark ends by pulling a card, "I slow down and listen to the guidance that's available to me."
Mark reflects on slowing down after years of rapid growth.
Discussion about creating space for reflection, learning, and strategic thinking.
Liz offers a powerful perspective: the guidance is already available, if we take time to listen.