Uncle Sam May Raise The Rent

For 20 years, North Avenue Tower in Council Bluffs, Iowa, has been a beacon of success in the often-maligned market for subsidized housing. The apartment complex for the elderly has staff on call 24 hours a day in case of emergencies, and tenants at the six-story building are like family: Everyone hangs a doily outside their door each evening; if it isn't removed in the morning, residents check in to see if their neighbor has fallen ill.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.