Wednesday, December 18, 2024
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The Perch PDX in Portland, Oregon
Affordable HousingDevelopmentFeaturesFinanceMidwestNevadaNortheastSoutheastTexasWestern

Industry Says Biden’s Proposed Rent Cap Would Punish Tenants

by Channing Hamilton

WASHINGTON, D.C. — The Biden administration has called on Congress to pass rent-control legislation that would affect more than 20 million rental homes across the country. Under the proposed rule, landlords with more than 50 units in their portfolios would forfeit federal tax breaks if they raise rents annually more than 5 percent on their existing units.  If passed, this rule would be in force beginning this year and would last through 2026. The plan would include an exception for new construction and for units currently undergoing substantial renovation or …

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Oxenfree at WeHo in Nashville, Tennessee
Build-to-RentFeaturesMidwestNortheastSoutheastTexasWestern

Strong Tenant, Investor Demand Ensures Build-to-Rent Model Is Here to Stay

by Channing Hamilton

Empty nesters and millennials with children are increasingly drawn to new subdivisions of build-to-rent (BTR) houses for lifestyle and financial reasons. These professionally managed BTR homes come in many shapes and sizes.  For a growing family, a new three- or four-bedroom rental house might be the ideal fit. Renters who don’t need a lot of space, but who value private parking and a modest backyard, can move into a one- or two-bedroom cottage-style home.  These properties provide more living space and privacy than a typical apartment and at a more …

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Panelists at the “Who is building, developing and investing in the Southeast?” panel at InterFace Affordable Housing Southeast
Affordable HousingDevelopmentFeaturesFinance

InterFace Panel: Workforce Housing Growth Limited by Lack of Incentives for Developers, Investors

by Channing Hamilton

ATLANTA — Workforce housing is a hot topic in the multifamily sector. The apartments are designed to serve middle-class renters, with no government subsidies such as tax credits and fewer of the bells and whistles associated with luxury projects. The combination of the spike in the cost of living, elevated interest rates and a low housing supply has made it difficult for middle-income households across the nation to buy or rent housing. Theoretically, this means there is a large market to serve by building workforce housing communities. However, while some …

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Speakers on the “Southeast Regional Housing Authorities & Legal Update” panel
Affordable HousingDevelopmentFeaturesFinance

Prevailing by Planning: Looking Ahead is Crucial to Affordable Housing Success

by Channing Hamilton

ATLANTA — There are a common set of headwinds, such as high construction costs and interest rates, facing the commercial real estate industry at large. But affordable housing development and operations come with a unique set of challenges all their own and beyond those of other sectors. Despite this, panelists at the InterFace Affordable Housing Southeast conference, held May 9 at the Cobb Galleria Centre in Atlanta, expressed an optimistic outlook for the sector.  Closing out the day’s events, speakers on the “Southeast Regional Housing Authorities & Legal Update” panel …

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Participants in the architecture, design and construction panel at InterFace Affordable Housing Southeast
Affordable HousingDevelopmentFeaturesGeorgiaSoutheast

Construction Experts Emphasize Teamwork as Key to Meeting Affordable Housing Building Standards

by Channing Hamilton

ATLANTA — In order to satisfy long-term affordability commitments, builders and designers of affordable housing must be well educated about the sector’s exacting design and construction rules, which are typically driven by the source of a project’s funding. A panel of construction experts speaking at the InterFace Affordable Housing Southeast conference held Thursday, May 9 at Cobb Galleria Centre shared insights about how their industry is meeting these standards today. The inaugural conference hosted by France Media’s InterFace Conference Group and Southeast Multifamily & Affordable Housing Business magazine drew approximately 170 industry …

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Speakers at the Investment Sales panel at InterFace Affordable Housing Southeast
Affordable HousingFeaturesGeorgiaInvestment SalesSoutheast

Volatility Disrupts Investment Sales Activity in Affordable Housing Market, Says InterFace Panel

by Channing Hamilton

ATLANTA — The investment sales market for the affordable housing sector remains muted for one overarching reason: volatility. Cory Sams, executive managing director of GREA (Global Real Estate Advisors), said that a lack of certainty, especially in the capital markets, is giving buyers and sellers of affordable housing properties pause. “The worst thing for a deal is [interest rates] constantly moving around,” she said. “When they were running up and down, every deal fell apart.” Doug Childers, senior managing director of JLL, estimated that affordable housing transaction volume fell 40 …

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Carol Nelson Mountain Region Asset Living headshot and quote from article
Build-to-RentColoradoContent PartnerDevelopmentFeaturesIdahoIndustry ContentLeasing & MarketingMontanaNorth DakotaSouth DakotaUtahWesternWyoming

New Supply Tests the Mountain States’ Multifamily Markets

by Sarah Daniels

Population growth in the Mountain states over the last several years has fueled historic apartment construction across Colorado and Utah. The activity has created some supply overhang in the Denver and Salt Lake City markets in particular, but continuing in-migration, housing shortages and the high cost of home ownership could sustain their resiliency, say two of Asset Living’s newest executives in the region. Based in Houston, Asset Living manages assets valued at $55 billion nationwide, including more than 1,750 apartment properties in addition to student, affordable and single-family build-to-rent housing. …

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Rialto West in New York City
Affordable HousingDevelopmentFeaturesFinanceOperations

Will New Tax Abatement Program Targeting NYC Be a Game-Changer for Affordable Housing Developers?

by Channing Hamilton

NEW YORK CITY — The New York state legislature has approved a new tax break program as part of the recently passed 2024-2025 budget to address the dearth of housing supply in and around Manhattan. Lawmakers say the program could increase affordable housing development throughout New York City, but some New York City residents are skeptical the program will do much to address the issue. 485-x was introduced as part of the New York state legislature’s budget for fiscal year 2025, which runs from April 1, 2024, to March 31, …

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Courtney Wilson Multifamily NOI TheGuarantors quote
Affordable HousingContent PartnerFeaturesIndustry ContentLeasing & MarketingMidwestNortheastOperationsSoutheastTechnologyWestern

Multifamily Market Challenges: Strategies for Operators to Preserve NOI Amidst Rising Costs, Supply Pressures

by Sarah Daniels

Multifamily operators face a number of challenging factors in today’s market. The spike in the cost of debt along with higher expenses across the board — from property insurance and taxes to construction and labor — as well as adverse effects left over from eviction moratoriums are eating away at net operating income (NOI) across the country. During the third quarter of 2023, multifamily expenses grew 7.2 percent, more than double the rate of inflation, according to Freddie Mac’s 2024 multifamily forecast. Additionally, rent control efforts in some jurisdictions are …

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Mike Miller, Managing Director, Berkadia
BerkadiaBuild-to-RentDevelopmentFeaturesTexas

Q&A With Berkadia’s Mike Miller: Transit-Oriented, BTR and Mixed-Use Developments Will Define San Antonio’s Future Pipeline

by Channing Hamilton

Along with Dallas and Houston, San Antonio is one of three powerhouse multifamily markets that make up the Texas Triangle. Multifamily & Affordable Housing Business asked Mike Miller, managing director for Berkadia San Antonio, for his take on the metro area’s investment and development trends. MAHB: On the map, how does Berkadia define the San Antonio multifamily market?  Miller: Our team defines and services San Antonio proper as well as Boerne and New Braunfels, additionally, we cover the remainder of South Texas.   MAHB: Berkadia’s latest report card has deliveries as 7,895 units …

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