Editor’s Note
Charging forward
I have to admit to a longtime envy of the amenities offered to many apartment dwellers.
Real Money
A billion here, a billion there, and pretty soon you’re talking real money,” Everett Dirksen once said, and the legendary lion of the Senate would have to admit that $3.4 billion is a nice chunk of change. That’s how much multifamily property owners could save every year through energy efficiency upgrades, according to a 2016 estimate by the American Council for an Energy-Efficient Economy.
Resident Attraction
Multifamily occupancy stood at 95.5 percent at the end of June, according to Yardi Matrix data, with rents continuing to climb, though at a reduced rate from the headier years of the post-recession recovery.
Market Measure
Midway through 2017, the commercial and multifamily markets are characterized by a mix of caution and confidence.
Old-School Values
When I went off to college 40 years ago this September—now there’s a statement that would give anybody pause—my two roommates and I were assigned to a ground-floor dormitory suite that was Spartan, even by 1977 standards.
Twin Rewards
Multifamily professionals can reap the financial benefits of mastering a complex, endlessly evolving business. At the same time, the business is in a unique position to strengthen the fragile fabric of our communities.
Group Effort
Submetering has long been a great tool, enabling multifamily property owners to shift utility expenses to residents based on their consumption.
Act Now
The national news has been pretty noisy this winter, so you’ll be relieved to know that this month’s column is guaranteed 100 percent rancor-free. Yet as I was reading the excellent special report on fair housing in this issue by MHN Contributing Editor Amanda Marsh, I couldn’t help noticing that recent events offer surprising and, thank goodness, entirely nonpartisan lessons for the multifamily sector. One of Marsh’s insights is that the direction of federal fair housing policy temporarily remains uncertain as a new administration settles in. Plenty of other matters are at stake during the next couple of years, as…
Designed For Life
The concept that perception is reality, originated by Lee Atwater but much adapted over the years (remember the Rolling Stone magazine ads of the late ’80s?), is eminently applicable to multifamily communities. Indeed, a beautiful design can make all the difference in how a property is perceived and how residents feel about living there, and can even influence the quality of the neighborhood. So the current wave of creativity is important for its impact. Even more, it is important for its extension beyond luxury housing. And why not? After all, a less expensive property doesn’t have to be built like…