Affordable Housing
Dire Warnings Follow New York’s Rent Control Overhaul
Ahead of a looming expiration date for state rent-regulation laws, legislators reached an agreement that many predict will be a severe blow to the real estate industry.
JV Breaks Ground on Sacramento Affordable Community
The two buildings totaling 65 units will serve veterans, low-income families and individuals with special needs in Roseville. The project is slated for completion in Fall 2020.
JV Lands $415M Loan for Manhattan Tower
Douglaston Development brought in Ares Management Corp. as a partner in its 58-story multifamily project just south of Hudson Yards. The building will offer a mix of affordable and market-rate units.
$560M Redevelopment of Storm-Damaged Community Wraps Up in NYC
A joint venture of MDG Design + Construction and Wavecrest Management completed the rehabilitation of a 1,395-unit public housing community in Far Rockaway, Queens. The project is the country’s largest single-site conversion under HUD’s RAD program.
CDT, Southport Financial Services Pay $37M for Central CA Portfolio
Located in tight rental markets in Central Valley, the five affordable housing properties will be preserved for residents at 50 to 60 percent of area median rent/income through 2050.
Luxury Mixed-Use Project Breaks Ground in NY
The 60-unit community is located in the heart of New Rochelle, a suburb of New York City that is in the midst of an ambitious revitalization plan.
More Americans Struggle with Rent as Land Prices Skyrocket
A new report by Berkadia finds that the proportion of rent-burdened households rose 9 percent from 1997 to 2017, as the nation’s housing woes spread out from the big cities.
Standard Communities to Renovate 128 Affordable Units in the Bay Area
The company acquired Parkside Villa Apartments and Rockwell Manor Apartments in Fairfield, Calif., and intends to invest $7 million in upgrades at both properties.
Aria Delivers Mixed-Income Units to DC
The Clifton, which has 156 market-rate and affordable units ranging in size from studios to four bedrooms, is located in Washington, D.C.’s 14th Street Corridor.
Increasing Yields by Solarizing Low-Income Communities
OYA Solar Founder & Managing Partner Manish Nayar summarizes the evolution of the solar market and stresses the wide applicability of energy efficiency in multifamily, including atop of affordable assets.