AUSTIN, TEXAS — LV Collective has hired Alex Perkins as president of multifamily. In this role, he will define and execute the Austin, Texas-based firm’s multifamily platform, overseeing strategy, development, capital markets, operations and asset management. Prior to joining LV Collective, Perkins served as a director for Greystar Development and Construction Services. He is a member of the advisory council for the University of Texas Real Estate Center, where he advises on program strategy and curriculum design.
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 …
CHICAGO — 29th Street Living, the property management division of 29th Street Capital (29SC), has expanded into third-party property management services. The division currently manages more than 55 properties across 23 markets. According to 29SC, 29th Street Living has a resident-first approach and is focused on providing cutting-edge technology and streamlining operations. 29SC is an investment management firm based in Chicago with back-office support in Louisville, Kentucky. The firm has acquired and developed more than 158 properties throughout the nation.
Scammers lurk in the background of virtually every industry, and the multifamily sector is no exception. Some renters will leap at the chance to exploit loopholes in the system and take advantage of unprepared landlords. “As a baseline definition, we classify rent fraud as any act of intentional deception by a renter to deceive the property owners to gain financial or personal benefit,” says Josh Albrechtsen, senior vice president and general manager of front office solutions at RealPage. “Fraud is evolving constantly. This is not a one-and-done problem solve. The …
DENVER — Property management company RADCO Residential has appointed Amie Robertshaw to the role of vice president of client services. In this position, Robertshaw will be responsible for expanding the company’s third-party management portfolio and will work with department leads during management transitions, acquisitions and more. She will be based in Denver. Prior to joining RADCO Residential, Robertshaw served as vice president of client services at Asset Living. She also has held positions at Avanti Residential (previously known as Capital Real Estate LLC). She currently serves as the president of …
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 …
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 …
Huntsville is a land of opportunity for new projects. The “Rocket City” is the most aggressive market in the nation for apartment development, according to data from RealPage. The city claimed that title in 2022 and has maintained it ever since. Developers completed roughly 5,900 units in the first quarter of 2024, according to RealPage. This expanded supply by 15.9 percent. Another 9,895 units are currently under construction, with 6,900 of those apartments slated to deliver by the end of the first quarter of 2025. RealPage estimates the city will …
HOUSTON — Within the world of multifamily development, the “amenities arms race” has become a well-documented trend over the past decade, a contest to curate and deliver the most appealing combination of entertainment and wellness features and activities to woo prospective renters. In many instances, this approach was successful, and developers succeeded in capturing the hearts and wallets of renters who sought an “everything under one roof” approach to renting. The fervent movement to deliver more extensive and impressive amenity packages also worked for much of the last decade because …
WASHINGTON, D.C. AND MCLEAN, VA. — Mortgage financing firms Fannie Mae and Freddie Mac plan to impose stricter rules for commercial property lenders and brokers, according to a report from the Wall Street Journal. The new guidelines are part of an emerging regulatory crackdown on fraud. Federal prosecutors and investigators have been increasingly pursuing fraudulent mortgage schemes since 2022. The rules may come into effect later this summer. Under the new rules, lenders would have to “independently verify” the financial information of potential borrowers and verify their source of funds …