“It’s critical for investors to understand that affordable housing is a strong and stable investment, one that’s resilient even when the economy isn’t. We have seen gains in the real estate market slowing, yet the affordable housing market remains strong.”
Link to article found here.
“Building homes off-site can help speed up the time it takes to complete homes in areas of the country that face extreme weather, Lawrence said, as the initial construction process takes place inside and away from the elements. It’s also more efficient in the sense that workers build the homes in an assembly line approach versus starting from scratch at each job site. Economies of scale not only reduce material costs, but they can also reduce waste generated during construction, Lawrence added. “
Link to article found here.
“Affordable housing has shown itself to be a strong hedge against a recession. While higher-end, higher-rent communities are more likely to be plagued with higher vacancies when residents tighten their belts, affordable housing always remains in demand — if anything, demand is even higher in a downturn.”
Link to article found here.
“You can work here, but don’t think about living here.”
This is the mantra of affluent cities relying on less affluent cities to provide for their affordable housing needs.
From the piece:
“Manteca is Brentwood’s affordable housing plan…. All of the solutions being discussed were essentially aimed at solving the affordable housing of Bay Area cities and not that of Manteca.”
“Avanath Capital Management and MacFarlane Partners, two of the largest African American-owned real estate companies in the US, have jointly filed paperwork with the SEC to create a new REIT. It is reportedly the first REIT to focus on Opportunity Zones, though it will look to other properties as well.
The company will ‘invest in, develop, redevelop and manage mostly affordable and workforce multifamily properties in Opportunity zones, in dynamic, US metropolitan areas,’ the filing said.”
https://www.globest.com/2020/10/08/new-reit-will-focus-on-affordable-housing/?slreturn=20200915235945
“Less than 10% of rental units are affordable to renter households earning 50% of median renter income (MRI), according to new research released today by Freddie Mac (OTCQB: FMCC) Multifamily. Building on last year’s ‘Diminishing Affordability – Inescapable’ report, the new study isolates renter income to more accurately capture the availability of affordable housing to individual renters.”
https://www.globenewswire.com/news-release/2020/08/26/2084311/0/en/Freddie-Mac-New-Research-Shows-Affordable-Housing-Shortage-Persists.html
“Developers who build affordable housing face a lot of hurdles: complex subsidy programs, expensive labor and materials, onerous local land use regulations, and, of course, community opposition. Neighboring residents often worry that low-cost housing will be ugly and comprised of hulking, boxy structures with cheap-looking facades. But while affordable housing developers do have tight budget constraints, there are strategies that allow them to build apartments that are visually appealing and offer comfort and convenience to their residents while meeting all the essential requirements of safe, healthy housing.
In this article, we examine strategies to save costs on three building components: the exterior shell, interiors, and services.”
https://www.brookings.edu/research/affordable-housing-doesnt-have-to-look-cheap-inside-or-out/
Multifamily Building Systems was established to improve the energy efficiency of affordable and workforce housing. In this episode we hear from industry professionals about MBS’s strategy to optimize the performance of multifamily housing.
In this video we show how Tartan Residential and Multifamily Building Systems utilized Net Benefit Analysis to design and engineer a new family of garden apartment buildings serving the affordable and workforce housing market.
“The YIMBY Act, which was championed by Representatives Denny Heck (D-Wash.) and Trey Hollingsworth (R-Ind.), would use Community Development Block Grant Consolidated Plans to support modernizing outdated codes that hinder housing and undermine sound local plans. The senate version of the legislation (S. 1919) was introduced last year by Senators Todd Young (R-Ind.) and Brian Schatz (D-Hawaii).”
https://dennyheck.house.gov/media-center/press-releases/yes-in-my-backyard-act-passes-house-by-voice-vote
https://www.planning.org/home/action/nimby/
