The COVID-19 pandemic has pervaded nearly every aspect of commercial real estate, including the multifamily sector. According to the Wall Street Journal, sudden wide-ranging unemployment due to government-mandated economic shutdowns resulted in almost a third of U.S. apartment dwellers not paying rent in April, which has in turn led to cash-flow concerns for multifamily landlords.
The demand for affordable housing communities has never been stronger. As home prices rise nationwide, housing affordability is moving further out of reach for a large swath of people. A recent report from property data provider ATTOM Data Solutions revealed that home price appreciation is outpacing wage growth in 76 percent of U.S. housing
Commercial real estate executives work hard at maintaining relationships in the industry. Some have a little help from Cupid. This Valentine's Day, we spoke with six couples who work in commercial real estate, some at different companies, and some that can carpool together to the office, proving absence isn't necessary to make the heart grow fonder. Read
Construction costs continued to climb again last year after years of rapid growth, but could that change in 2020? The new construction pipeline is growing as a result of opportunity zone activity, and in 2020, new construction activity will continue to grow. However, Richard Lara of RAAM Construction doesn’t expect the increase in activity to put pressure on
Opportunity zones have quickly become one of the most popular investment models, and it isn’t surprising. The model has the potential to completely avoid capital gains tax—but with a trade off. Investment has to target communities in need of economic growth and investment. However, does the model actually work in action, and will it
SB-196 is one of many new housing bills that Governor Newsom has signed into law to encourage affordable and low-income housing development. The bill provides a property tax exemption for community land trusts building affordable housing—a huge benefit—but that could be just the beginning. In some cases, these projects could also line-up with opportunity
Rising construction costs are the biggest challenge for all developers, but for affordable developers, it can be a crippling one. In fact, the increased construction costs are one of an amalgam of reasons that the affordable housing supply is shrinking. However, there are solutions. Partnering with an established affordable builder is one of the
Developers are excited about the potential for SB196—a new affordable housing bill passed by the state that exempts land trusts from paying property taxes on affordable housing projects. The new bill is expected to drive affordable housing development throughout the state, and builders are seeing an increase in interest in affordable housing projects. Read
During the past few years, material and skilled labor costs have been on the rise, causing increased distress for multifamily developers. If we add trade tensions to the equation, it is understandable why bringing a project to fruition is becoming more and more challenging, especially when building affordable housing properties in gateway markets. Read
Developers are challenged to contain high construction and labor costs. To help, we asked two construction executives experienced in affordable housing to share five tips that can help you keep costs under control and make the building process a little smoother. Read Article
