In the past 20 years, after decades of disinvestment and decline, central cities have seen a reversal of fortune and are experiencing rapid growth, particularly in the urban core. Many large cities are now struggling with housing shortages and affordability problems. There is vigorous debate amongst policy makers, scholars, and activists about the role that new market-rate apartments play in alleviating housing affordability issues. Prior research suggests that new market-rate construction may result in more affordable housing in the long-run, but much less is known about how this type of new…