CRM Residential’s Post

Solving the Affordable Housing Crisis: Vegas Tiny Home Expo and Trade Show's Innovative Financial Model The affordable housing crisis is a pressing issue affecting millions of Americans. The traditional housing market has become increasingly inaccessible, with high down payments and closing costs creating significant barriers for many prospective homeowners. The Vegas Tiny Home Expo and Trade Show is stepping up to address this challenge with an innovative financial model designed to make homeownership more attainable than ever before. Introducing the 1% Down, Zero Closing Costs Model At the heart of this initiative is a groundbreaking financial premium: a 1% down payment and zero closing costs. This model significantly lowers the entry barriers to homeownership, allowing more individuals and families to achieve their dreams of owning a home. Here's how this approach can transform the affordable housing landscape: 1. Lower Entry Barriers: Traditional home purchases often require down payments of 10-20%, along with substantial closing costs. By reducing the down payment to just 1% and eliminating closing costs, the Vegas Tiny Home Expo and Trade Show makes it possible for more people to afford a home. 2. Enhanced Accessibility: This model is particularly beneficial for first-time homebuyers, and those with limited savings who might otherwise be excluded from the housing market to invest in their future and build equity. 3. Promoting Financial Stability: With lower initial costs, new homeowners can allocate their resources towards other essential needs, such as education, and healthcare. 4. Sustainable Living: They require less land, fewer materials, and lower maintenance costs. By promoting tiny homes, the Expo encourages sustainable living practices that benefit both homeowners and the environment. 5. Community Building: The Vegas Tiny Home Expo and Trade Show also emphasizes the creation of community-oriented housing developments. These communities foster social connections, shared resources, and a supportive environment, enhancing the quality of life for residents. A Vision for the Future The Vegas Tiny Home Expo and Trade Show's innovative financial model is not just a solution to the affordable housing crisis; it is a vision for a more inclusive and sustainable future. By making homeownership accessible to a broader population, this initiative can help bridge the gap between the housing market and those in need. In summary, the 1% down, zero closing costs model is a game-changer in the fight against the affordable housing crisis. It demonstrates that with creativity, commitment, and collaboration, we can create a housing market that serves everyone. The Vegas Tiny Home Expo and Trade Show is leading the way, proving that affordable, sustainable, and inclusive housing is within reach. info@vegastinyhomeexpo.com #AffordableHousing #TinyHomes #VegasTinyHomeExpo #SustainableLiving #InnovativeFinance

“The Critical Role of Single-Family Rentals in solving the Housing Crisis” Adolfo Villagomez, CEO of Progress Residential®, a leading provider of single-family rental homes in the US with over 85,000 properties across 30 fast-growing metro areas, authored an article in REI INK Magazine posted in the comments below 👇 examining the U.S. housing crisis. He proposes solutions with an emphasis on single-family rentals, highlighting the pressing need to tackle housing affordability and accessibility nationwide. Villagomez starts by emphasizing the seriousness of the housing crisis, citing reliable data from sources like the National Low Income Housing Coalition and the Department of Housing and Urban Development (HUD). This underscores the urgent need for solutions to address the shortage of affordable rental homes and the challenges faced by low-income individuals and families. Villagomez underscores Progress Residential's proactive approach to tackling the housing crisis by expanding affordable housing operations nationwide. Under his leadership, the company is increasing participation in the Housing Choice Voucher Program and forming partnerships with local housing authorities, demonstrating a commitment to scaling efforts effectively. Villagomez highlights the importance of public-private partnerships in tackling the housing crisis, exemplified by Progress Residential's collaboration with Atlanta Mayor Andre Dickens. This partnership showcases tangible outcomes, facilitating family relocation from condemned housing communities to secure rental options, driving positive community-level change. Villagomez highlights Progress Residential's innovative approach to enhancing residents' financial well-being through free positive rent reporting. This initiative shows empirical evidence of improved credit scores and financial independence, underscoring its effectiveness in promoting long-term economic empowerment. Villagomez emphasizes Progress Residential's role in promoting economic and social mobility through single-family rentals. By offering opportunities in neighborhoods with better amenities, the company helps break the cycle of poverty and fosters inclusive communities, demonstrating its commitment to driving positive social change and equity in housing access. In conclusion, Villagomez's analysis provides a roadmap for addressing the housing crisis through single-family rentals, inspiring optimism about Progress Residential and similar private sector entities driving meaningful change towards more equitable communities. What are your thoughts on his proposed solutions and emphasis on affordable housing? Share your insights in the comments below 👇! Please like 👍, comment below 👇, or share 👉. Click the 🔔 in my profile to get notified of my posts. And follow me for more content like this. #home #multifamily #homerental #buildtorent

Today I am passing on information I have read from various resources, as well as, some of my thoughts around Senior housing. We have seen occupancy grow in the past year to an average of a little over 85% in Senior living communities. The industry is nicely recovering from the pandemic set back. An overwhelming increase in demand, expecting to rocket in need soon, has supply on a fast track to meet the need. A construction of a Senior Living Community can cost anywhere from $75 million to $150 million and up, depending on luxuriousness, services offered, benefits, care, etc. of the community. One of the issue is that higher interest rates continue to make it challenging for investors to finance new or re-finance existing communities, hence making it more difficult to get a loan or borrow against. We are also seeing a greater need for more affordable housing for seniors. However, there is a significant increase in Luxury Senior Communities, average monthly rent $6000-12000, flooding the market. Higher income seniors are expecting a more 5 star hotel experience with customize services like concierge, wellness centers, and additions like upgraded living spaces, new room features like Google/Alexa and auto lighting, etc. Most likely the mid-level income seniors, referred to as the "Forgotten Middle", will be the most challenged finding the right community fit. Their challenges maybe anywhere from making a higher income not qualifying for Medicare to not making enough to afford luxury communities. The Mid-level income seniors/families will even more likely look for price breaks, promotions, optional amenities (al la cart), lower rate increases annually. I believe we will see investors seeking properties in foreclosure where they can rebuild a more economical faciality, being able to (possibly) offer a more affordable cost to the seniors/families. The increase in demand due to baby boomers and seniors desiring to live more independently vs with family, will challenge development (supply) with construction cost, inflation and operating cost on the rise. The presidential election will obviously be a factor which will effect regulations/policies, funding availability, and overall dynamics of Senior housing. I am interested to see what the end of 2024 and 2025 will bring to the market as well as the near future. What will happen to the supply once baby boomers are no longer the generation needing housing? Will GenX want the same luxury? What influences will drive changes in the next 10 years? I am excited to be a part of the forward thinkers and problem solver for the next steps in senior living housing, care, and innovation required to meet ongoing needs.

🔥 Affordable Housing Options: Cost-Effective 🔥 Read full blog: https://lnkd.in/gc6DrTU7 https://lnkd.in/gqCRy66y With the rise in property prices, securing a home that fits within your budget and meets your needs can seem overwhelming. Affordable housing is a vital consideration, especially for first-time buyers, those with lower incomes, and individuals looking to downsize. This blog will explore various affordable housing options and offer strategies to help you find a home that is financially manageable. Understanding Your Affordable Housing Options Public Housing: Managed by government agencies, public housing offers rental homes at reduced rates for qualified low-income families, seniors, and people with disabilities. This option is designed to provide safe and lower-cost living spaces. Section 8 Housing Choice Voucher Program: This program provides flexibility, allowing you to use vouchers to help cover rent in privately owned properties of your choice, rather than limiting you to specific housing complexes. Affordable Housing Developments: These are buildings or communities that offer reduced rental rates for eligible residents, often facilitated through city or nonprofit housing initiatives. Cooperative Housing: In a housing cooperative, you buy shares in the cooperative rather than owning real estate directly, which often results in lower costs and community-oriented living. Tiny Houses and Manufactured Homes: Tiny homes offer an affordable and minimalistic living solution, while manufactured homes provide a less expensive alternative to traditional housing, without sacrificing modern amenities. Shared Housing: Living with roommates or renting out part of your home can significantly reduce your living expenses, making more expensive areas more accessible. Tips for Finding Affordable Housing Read blog for full story...

Can a Missing Middle Housing strategy for workforce housing compete with large-estate development in resort communities? Our Northern South Park Neighborhood Plan for Teton County/Jackson, Wyoming explored this in depth. The site was a 225 acre site identified in the Comprehensive Plan as a priority site for workforce housing. This plan was done in close collaboration with Cascadia Partners . Check out the “Report Cards” produced to enable the local decision makers and community to compare future scenarios. https://lnkd.in/gH-Kt4bv Alternatives explored: 1. Existing zoning: Business as Usual 2. Alternative A: Estates and Apartments 3. Alternative B: Neighborhood with Estates 4. Alternative C:Mixed-Type Neighborhood What was compared: Total units, number of market rate units and deed restricted workforce housing units, share of housing types, affordable housing land dedication, public cost to build affordable housing, property tax generated per acre, jobs generated, vehicle miles traveled, energy and water use, and access to open space. Outcome/strategy: Final New Unit and Deed Restricted Housing Program 1,200 new base unit entitlements: Existing zoning only allowed 98 units on the site. o 478 Unrestricted units (maximum): these units can be set at market price, with no restrictions on ownership or occupancy. o 360 Workforce deed-restricted units: restricted to households that work in Teton County and earn no more than 250% of Teton County’s Median Family Income (MFI). Although these units are restricted to workforce income levels, they are modeled to have a built-in profit. As a result, Workforce units are assumed to be delivered by private developers within the development model. o 480 Affordable deed-restricted units (minimum): restricted to households that work in Teton County and earn no more than 120% MFI. Plus 482 bonus unit entitlements o Available for entitlement after initial 1,200 units in baseentitlement have been developed o Mix of unrestricted and deed-restricted o Minimum % deed-restricted starts at 70% and increases as units from this pool are entitled Conclusion was that it is not easy to compete with the returns for landowners for sites that allow large lot single family. Due to the low risk and high returns of that “business as usual” build out, allowing more units is sometimes not enough of an incentive to deliver more attainable housing choices. But with a nuanced strategy you can make it attractive to land owners a broad range of attainable and affordable housing choices. Interesting note: The existing zoning scheme would generate $17,000/acre of annual property taxes while the Mixed Neighborhood alternative would generate $93,500/acre. Winner of the Western Planner Perseverance Award. Plan adopted November 5, 2022 & the new regulations on March 5, 2024. https://lnkd.in/gXhVwcpq Opticos Design, Inc. Opticos team: Drew Finke Caroline Cochran Alex Steinberger

Today, the City of Norwalk and the Norwalk Redevelopment Agency Agency (RDA) announced the release of a housing survey to help shape the future of housing, with a focus on transit-oriented development (TOD) and affordable housing. The survey takes no more than five minutes to complete, is also available in Spanish and Haitian-Creole and will be open until Wednesday, February 28. Please fill it out by visiting https://lnkd.in/eZU7MA7b The two main goals of the survey are to gather residents’ feedback to help develop sustainable, equitable, and affordable housing opportunities throughout the City, as well as TOD in and around the City’s multi-modal transit hubs. As the City moves forward with TOD projects, we understand that TOD is just one type of housing that may not meet the needs and desires of all residents. TOD is a development strategy that groups housing, jobs, and amenities around public transport hubs to reduce driving, boost the local economy and build a stronger sense of community for residents. TOD has been a focus for the City and RDA and is a key component of Norwalk’s 2019 Citywide Plan of Conservation and Development (POCD). The POCD encourages the City to continue land use policies that promote smart growth near the South Norwalk, East Norwalk and Merritt 7 transit systems. The survey will allow the City and RDA to better understand how residents feel about the City’s desire to increase the quality of life for residents, attract more people to visit Norwalk’s downtown business community and enhance walkability by reducing Norwalk’s carbon footprint by prioritizing TOD. The survey also aims to capture the community’s feedback on housing needs in response to the City’s objective to help more residents secure affordable, high-quality housing. In accordance with state regulations, the City is preparing an Affordable Housing Study to understand what policies should be implemented to help more Norwalk residents secure affordable housing. The City has assembled an Affordable Housing Advisory Committee, which includes members of the community, to oversee the Housing Study. In partnership with the City, the Committee will be conducting community outreach efforts and reviewing housing policy recommendations. A critical component of the Study is the formation of a housing needs assessment. A housing needs assessment relies heavily on the input of residents. The City continues to conduct a robust outreach effort through public workshops, listening sessions, and pop-up events across the City. The survey also seeks to help the City and RDA reach a larger sample of residents from diverse backgrounds. The survey results will be used to make sure the City’s housing recommendations reflect the experiences and needs of residents.  #Housing #Survey #CityofNorwalk #RedevelopmentAgency

After more than seven years at the helm of leading Victorian community housing provider HousingFirst, CEO Haleh Homaei will step down from her leadership role at the end of February 2024. Ms Homaei intends to take a break and spend time with family before her next professional career move. An Acting CEO will be appointed from within HousingFirst’s highly skilled Executive Management Team upon her departure, while the HousingFirst Board undertakes a thorough executive recruitment process to select the next CEO. This process has already commenced. HousingFirst is one of Victoria’s fastest growing community housing providers, currently delivering over 1500 safe and accessible homes for low income and vulnerable tenants across Melbourne. It has won numerous quality, service and architectural awards for its housing and tenancy services. Ms Homaei has a distinguished 33-year career in the public and community housing sectors. She joined the Port Phillip Housing Association in 2016 as CEO and led its transformation into HousingFirst, now a nationally recognised community housing provider. As CEO she has overseen HousingFirst’s highly successful growth and development strategy, including its ambitious building, development and upgrade program that transformed the organisation’s older housing stock and significantly increased its portfolio of new housing for people in need. HousingFirst has a development pipeline in excess of $195m across 13 Local Government Areas in Melbourne, net equity of $389m and annual revenue of $48m. Ms Homaei said: “Now is the perfect time for me to move on, and for HousingFirst’s next phase of growth and impact to be led by a new CEO with fresh energy and ideas. “We have built up a talented executive team, have a sensational and committed staff, great housing projects underway, a broad range of enduring partnerships with both government and private sector partners, and a highly experienced Board of directors in place. “There is an exciting and challenging future ahead for the community housing sector. In Victoria, HousingFirst is a big part of that future. There are still so many people needing good homes, we must not take our foot off the pedal.” Outgoing Chair of HousingFirst Ms Janine Kirk AO said: “We have been so fortunate to have had a CEO of such passion and commitment for so long. The impact Haleh has had on our organisation, and the community housing sector more broadly, is extraordinary. We wish her the very best in her future endeavours and are grateful for the solid legacy, track record and stability she leaves behind her at HousingFirst.” In February 2024, Ms Kirk will retire from the HousingFirst’s Board, with current deputy Chair Emmanuel Tsakis to be the next Chair. The executive recruitment process for HousingFirst’s next CEO will be led by Mr Tsakis, who has extensive experience in not-for-profit executive management and governance. All other HousingFirst Board directors will retain their positions.

We have been pushing Missing Middle Housing for a couple of decades now. Here is an update on the good work being done in Vermont. Efforts To Bring Back Vermont’s Missing Middle Housing Public Square, a CNU Journal, recently posted an interesting article on Vermont’s efforts to bring back its missing middle housing (MMH). Vermont, like many states, is looking for ways to advance diverse and affordable housing choices in convenient, existing, walkable neighborhoods and places, Public Square reports. The Vermont Department of Housing and Community Development has created a tool to jumpstart and empower missing middle housing production. Called the Homes for All Toolkit, launched in March 2024 and supported by AARP-VT funding, it is a design-and-do guide for small-scale home builders, investors, and community leaders. This 220-page guide, as outlined by the journal, is full of tips, tools, and resources for would-be developers to build homes Vermonters need at different scales designed to cater to a range of income levels, family sizes, and lifestyles. It includes three components: •   Builders’ Workbook: A Missing Middle Home builders’ ‘how-to’ workbook that provides a comprehensive road map to real estate development for first timers. •   Missing Middle Homes Design Guide: A design guide for Missing Middle Homes drawing from local architectural traditions that are familiar and loved by Vermonters—as well as suitable for New England’s variable weather. •   Vermont Neighborhood Infill Design Case Studies: A series of five case studies developed in cities and towns throughout Vermont showing how MMH building designs can be integrated into existing neighborhoods and communities using illustrated visualizations. The Homes for All Toolkit was years in the making and is more than its component parts. It is the start of a movement to bring missing middle housing back to Vermont communities. Click here to read the complete Public Square article. https://lnkd.in/e74E_xHw

Circle Voluntary Housing Association leads the way as the first Approved Housing Body (AHB) to deliver Cost Rental Homes in Limerick as occupancy commences of 113 homes at The Mills, Castletroy. Circle in collaboration with Cairn, is delighted to commence occupancy of 57 cost rental and 56 social homes. The Mills signifies a notable stride towards enhancing affordable housing options in Limerick. These 113 home were designed to flexibly cater to a wide spectrum of housing needs offering 2 and 3-bedroom A-rated terraced and semi-detached homes in an exceptional living environment. With the introduction of cost rental homes in Limerick, it is solidifying Circles commitment to providing diverse and affordable housing options. Circle's initiative responds to the escalating demand for rental housing, particularly in a market where rents have surged by 17% year-on-year, reflecting Circle’s commitment to catalysing positive transformations in housing accessibility. Cost rental homes provide a long-term, secure rental option to individuals working in the area with a maximum net household figure below €59,000. These are households who face challenges affording private rented accommodation. The rent is based on the actual cost of constructing, managing, and maintaining the homes, resulting in more affordable housing solutions.    Check out the official video of the opening of The Mills, with features from our tenants, stakeholders and Circle staff. We would like to thank all our stakeholders who attended the ribbon cutting. Thank you to Mayor of the City and County of Limerick Gerald Mitchell, Minister of State Kieran O'Donnell TD, Chief Executive of Limerick City and County Council City and County Pat Daly, Gerald Hoare and Cairn, Department of Housing, Local Government and Heritage, The Housing Agency Ireland and Housing Finance Agency plc. #wehear #morethanhousing #costrental