Industry Voices

Why Deal Flow Will Pick Up in the Southeast in 2025

by Channing Hamilton November 20, 2024

All the talk in multifamily circles in 2023 and throughout 2024 has been about the impending “maturity wall” of loans set to expire. This wall, many have said, would stir up a wave of distress that would create “generational buying opportunities” from the fallout of the overleveraged, floating-rate acquisitions and new developments delivered at the top of the market. How has that played out? Buying opportunities haven’t yet materialized, and the multifamily investment sales market remains flatlined. How can that be given the record number of trades at the top …

November 20, 2024

Industry Voices Operations Southeast

Property Owners Must be Proactive to Mitigate Flood Risk

by Channing Hamilton October 28, 2024

Hurricane season is in full swing. As heavy rains and powerful winds tear through the Southeast, flooding has quickly become a major concern for multifamily owners and operators. Flooding is the most common and costly type of natural hazard in the nation. According to the Department of Homeland Security, 90 percent of natural disasters within the United States involve flooding. Additionally, flood risk is intensifying as the number and severity of storms increase. The National Oceanic and Atmospheric Administration (NOAA) predicted an 85 percent chance of a more destructive than average hurricane season in …

October 28, 2024

Affordable Housing Industry Voices Leasing & Marketing Midwest Northeast Operations Southeast Texas Western

Technology Clears Operational Roadblocks for Affordable Housing Managers

by Channing Hamilton October 21, 2024

There is an urgent need for more affordable housing in the United States. For every 100 extremely low-income renter households, there are just 36 affordable units available for rent, according to a March 2024 report from the National Low Income Housing Coalition (NLIHC). Despite widespread attention on this issue — including at the state and federal levels — the supply shortage has continued. Municipalities across the United States continue to struggle to address symptoms of the affordable housing crisis, such as homelessness and rising housing costs. The NLIHC reports that there is …

October 21, 2024

Barbara Jean Wright Court Apartments in Chicago

Development Industry Voices New York Northeast

How to Pull Off a Large-Scale Rehab of an Occupied Property

by Channing Hamilton September 25, 2024

When New York-based developer Jonathan Rose Cos. (JRC) acquired the Barbara Jean Wright Court Apartments in 2021, the 272-unit, low-rise, 40 percent Section 8 community in Chicago’s University Village neighborhood was in need of some serious repair. Originally built in the 1970s and remodeled in 1999, the complex’s HVAC systems, flooring, kitchens, bathrooms and boilers were long past the point of needing a complete overhaul. The issue? The building was nearly fully occupied, which made this a tricker project than normal. To pull off this occupied restoration, JRC needed a construction …

September 25, 2024

Affordable Housing Industry Voices New York Northeast Operations

A Developer’s Thoughts on Recent Changes to New York Laws Regarding Rent-Stabilized Apartments

by Channing Hamilton September 20, 2024

The recent changes to New York laws regarding rent-stabilized apartments, included in the 2024 budget legislation and signed into law by Gov. Kathy Hochul, are a step in the right direction. Unfortunately, the step is so small that the effect will be the same as standing still. Much of the initial commentary on 2024 housing law updates was about the so-called “good cause eviction” provisions, which have little to do with eviction but are instead a rebranding of rent control. In 2019, the legislature made significant changes to the rules …

September 20, 2024

Nathan Wilcox, Principal Architect, The Beck Group

Architecture & Design Development Industry Voices Midwest Northeast Operations Southeast Texas Western

Four Trends to Watch in Multifamily Design

by Channing Hamilton September 17, 2024

Four significant cultural shifts are driving the evolution of multifamily design. Today, developers and architects must create spaces that serve the remote work trend, meet the demand for wellness amenities, keep up with changing sustainability and technology standards and create communities that socially engage their residents. How Hybrid Work Schedules Have Changed Design The shift to remote and hybrid work has profoundly influenced design offerings and space planning at an unprecedented pace in multifamily developments. Before the shift to full-time or partial work from home, the average size of most …

September 17, 2024

Jonathan Treble, Founder and CEO of WithMe Inc.

Industry Voices Midwest Northeast Operations Southeast Technology Texas Western

Amenities Anchor Communities, Foster Live-Work-Play Environment

by Channing Hamilton August 2, 2024

— By Jonathan Treble, Founder and CEO of WithMe Inc. In today’s multifamily landscape, amenities play a pivotal role that goes beyond attracting and retaining prospective residents. The right amenity package can enhance residents’ daily experience, nurture a thriving sense of community and ultimately increase the asset’s overall value. By thoughtfully outfitting an asset with the right amenities, property owners and operators can cater to today’s renters’ live-work-play and remote-work lifestyles. Modern Renters Desire “Third Spaces” Post-pandemic, the traditional boundaries between home, office and social spaces have blurred. Remote and …

August 2, 2024

Industry Voices Midwest Northeast Operations Southeast Texas Western

Property Managers Need a Holistic Approach to Prop Tech to Streamline Operations

by Channing Hamilton July 12, 2024

— By Mike Branam, director of multifamily, PointCentral Renters increasingly desire smart technology features and personalized automation that can save time, money and improve property security. A 2022 survey from Rent.com reported that a staggering 82 percent of renters wanted at least one smart device in their home. This has encouraged property owners and operators to invest in technology as part of a wider strategy to both attract and retain a resident base that is a good fit for their communities. Technological advancements such as artificial intelligence (AI), as well …

July 12, 2024

Affordable Housing Development Finance Industry Voices Midwest Northeast Southeast Texas Western

Public-Private Partnerships: A Creative Approach to Increasing Affordable Housing Supply

by Channing Hamilton May 3, 2024

— By John Williams, president, CIO and COO of Avanath Capital Management It’s no secret that the dire shortage of affordable housing is an ongoing issue throughout the nation. The National Multifamily Housing Council reported in 2022 that the United States would need to build 4.3 million new apartments by 2035 to meet demand. The report also stated that the nation’s number of affordable housing units declined by 4.7 million from 2015 to 2020. Unfortunately, there is no one-size-fits-all solution to the problem. Both local and federal governments are taking …

May 3, 2024

Kathleen Milisky, principal, Utility Revenue Services

Development Industry Voices Midwest Northeast Operations Southeast Texas Western

Smart Utilities Management Can Eliminate Pain Points and Reduce Unnecessary Costs

by Channing Hamilton February 21, 2024

— By Kathleen Milisky of Utility Revenue Services (URS) — Every developer knows all too well the headaches that can arise from utilities while building or managing a community. Time lost to issues such as power outages, delayed inspections and miscommunication can add unnecessary costs to any project. Smart utilities management is an effective way to stay ahead of problems before they start. Owners have the option of turning responsibility for the utilities over to an expert before they even pull a construction trailer onto the development site. It can …

February 21, 2024

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