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I support the master lease program that the city has just approved. There's a good example of similar master lease efforts by PATH at a new micro-housing building in Hollywood. These are high-quality apartments with nice finishes and in-unit washers/dryers, located one block from Hollywood and Highland. The cost was about $300k per unit for the total development cost. Compare that to the $650k+ average per unit developed through LIHTC in LA. Here's a quote from the developer: 'Premiere Hollywood, located at 6752 Hawthorn Ave, was completed last January. Eight of its 69 units were originally set aside for extremely-low-income earners, to be placed through a partnership with the local advocacy group People Assisting The Homeless. The partnership worked so well that PATH now leases a total of 43 units, all of which go to tenants with housing vouchers earning below 50% of the area median income.' I hope this program can expand to focus public resources on solutions that can house people faster and at a lower cost. #housingsolutions #affordablehousing

🧱 #FloydMayweather Buys Back the Block adding affordable housing to portfolio 🧱 Mayweather landed real estate contract from Black Spruce Management including over 1,000 units across 60+ buildings in upper Manhattan, for reported amount of $402 Million, according to Bleacher Report. Whether you believe he is the greatest boxer of all time or not (50-0), it is hard to deny he is one of the most financially successful boxers, having amounted over $1 BILLION in career earnings. 💰💰 Can a lucrative financial investment also be for a good cause? #SportsMarketing #RealEstate #Boxing #Finance #SportsManagement #InnovativeGroupNews

Northumberland Living: Investing in Alnwick’s Growing Property Market We’re thrilled to see success in our projects at a time when Alnwick’s property market is thriving. With house prices on the rise, Alnwick is becoming a prime location for property investment. According to Census 2021, there are 4,000 households in Alnwick, with 58% being home-owned, 26% socially rented, and 16% privately rented. The average sold house price in Alnwick over the 12 months to September 2023 was £267,960, as reported by Zoopla. This is higher than the county average of £235,372 in Northumberland, reflecting Alnwick’s growing appeal, while still offering affordability compared to the national average of £369,614. We’re delighted with this positive momentum and look forward to sharing further updates as we continue to make progress in this vibrant market. #NorthumberlandLiving #AlnwickProperty #PropertyInvestment #RealEstate #MarketTrends #InvestmentOpportunity #UKProperty #HomeOwnership #PropertyMarket

What is a HMO?? A HMO is a property rented out by at least three people who are not from one 'household' but share facilities like the bathroom and kitchen. It is common in student and lower-income housing as it allows individuals to share the cost of rent. The concept of HMOs is rooted in the idea of communal living, where residents have their own private rooms but share certain areas of the property. This setup fosters a sense of community and can lead to cost savings for tenants. Moreover, HMOs can provide a more affordable housing option in areas where individual renting prices may be too high for some people.

What a great start to 2024. Today was handover day for this fantastic bungalow in Warrington. The video shows what an incredible transformation Warwick Investments has achieved in making this tired bungalow a tremendous new home for four tenants with reduced mobility. Whenever we get schemes handed over to us, we see it as a reminder of why we are in business: to provide a fantastic new homes to new tenants. These are people who struggle to access the 'mainstream' housing market and are often left in residential settings, with families who can't cope or in sub-standard housing. Working collaboratively shows what can be achieved. #changinglives #Newhomes

🚀 New Rental Homes Development in Bromley: A Step Towards Solving the Housing Crisis 🏡 The John Lewis Partnership (JLP) has received the green light to develop new rental homes in Bromley, Kent. This initiative not only addresses the housing shortage but has also presented investment opportunities in the rental market. James Dunne, who is the head of operational real estate at abrdn, which has a £500m joint venture with JLP states “Well designed and professionally managed rental homes are a vital component in helping to solve the UK’s housing needs." https://lnkd.in/eQSSatTv As we see large-scale projects like this taking shape, it's evident that there's a growing demand for innovative housing solutions. Houses of Multiple Occupation (HMOs) are a key part of this solution, especially in areas like Kent where housing demand is high. Investing in HMOs offers: Higher rental yields compared to single-family rentals. Diverse tenant base ensuring steady rental income. Flexibility to adapt properties to meet market demands. I specialise in sourcing and investing in HMOs by identifying prime locations and properties in Medway, Kent, that deliver excellent returns for investors. Bromley's development is a testament to the potential that lies within the rental sector, and we are here to help you tap into this opportunity. Read more about the John Lewis Partnership's new rental homes in Bromley here: https://lnkd.in/eQSSatTv Let's connect and discuss how you can benefit from the booming HMO market in Kent! 🚀🏡 Connect through DM or Book an appointment! #HMO #HousingCrisis #JohnLewis

Wigan is set to get a much-needed affordable homes boost thanks to a new £22m deal between homebuilder Northstone and the region’s largest affordable housing provider Torus, which will deliver a 113-home development in Atherton — to be known as ‘Popple’. Approved by Wigan Council last month, the development is being part funded by Homes England and will include 33 homes for affordable rent, 12 homes for social rent and 68 Rent To Buy properties. The scheme will boast excellent sustainability credentials, with the all-electric community set to feature enhanced fabric to minimise heat loss, air source heat pumps and Electric Vehicle chargers. Joanna Allen, Land & Partnerships Director at Northstone, says: “There’s no let-up in the housing crisis, with authorities like Wigan needing to diversify their housing mix to meet local demand. It’s fantastic to be partnering with Torus to deliver a 100% affordable home development that will set a new local benchmark for quality, sustainable rental communities surrounded by green space. It’s been brilliant working with Torus, Homes England and Wigan Council, who have been so proactive about making this community a reality and unlocking investment into new homes for Atherton.” Managing Director of Torus Developments, Chris Bowen, adds: “As a housing group, we’re well aware of the current cost-of-living-crisis and how heavily it is impacting our communities and the cost of housing, so our mission to continue building great, affordable homes continues to be as pertinent as ever. We’re thrilled to have received planning permission on Popple and to be bringing another affordable scheme to Wigan. “It’s fantastic to once again work with Northstone and continue building on the successful partnership that has already seen us deliver 210 homes in Wigan and Ellesmere Port. We value true collaboration and Popple is the latest in a long line of schemes we have brought forward thanks to key partners such as Wigan Council and Homes England, so I look forward to seeing it become a truly sustainable, affordable community at the heart of Atherton.” https://lnkd.in/eJcqgBcG #affordablehomes #affordablehousing #affordablerent #socialrent #renttobuy #newhomes #plans #planningpermission #construction #sustainability #energyefficiency #partnerships #collaboration #communities #airsourceheatpumps #evchargers

What is a HMO?? An HMO is a property rented out by at least three people who are not from one 'household' but share facilities like the bathroom and kitchen. It is common in student and lower-income housing as it allows individuals to share the cost of rent. The concept of HMOs is rooted in the idea of communal living, where residents have their own private rooms but share certain areas of the property. This setup fosters a sense of community and can lead to cost savings for tenants. Moreover, HMOs can provide a more affordable housing option in areas where individual renting prices may be too high for some people.

Galliford Try's Affordable Housing Resurgence 🏡 🚀 Back in the Game Galliford Try returns to affordable housing post-Vistry deal, targeting 4-5% profit margins. 🛠️ Strategic Vision Under CEO Bill Hocking's five-year plan, they're partnering with housing associations to foster community and growth. 💹 Ambitious Targets Aiming to increase turnover from £1.4bn to £2.2bn, they're expanding into private rentals and eco-friendly renovations, with a sharp focus on security and facility management services. 🤝 United Approach Their growth is fueled by solid industry relationships and a determined team dedicated to delivering value. 🌐 Infrastructure Focus David Lowery steps in as Infrastructure managing director, underlining our commitment to this vital sector. #GallifordTry #AffordableHousing #GrowthStrategy 🏗️📈🏘️

Just Closed - 76 Unit MHC in Northern MI We're excited to share the successful closing of our latest acquisition. Here are some key highlights: o Quality: This is a 4-star community featuring strong infrastructure and a low-density layout, ensuring a superior living experience. o Value Add: This acquisition presents a significant infill opportunity. Within the 76-pad community, there are currently 23 vacant lots. The low occupancy rate is largely attributed to the seller’s lack of capital to invest in new and used homes, and therefore, there has been zero efforts to sell homes since ownership began. Additionally, the property includes an adjacent plot of 40 acres with Manufactured Housing (MH) zoning, offering the potential to more than double the community's size. o Business Plan: Over the next three years, we plan to enhance the curb appeal, purchase and install over 20 homes and implement a lease-to-own structure for a portion of existing Park-Owned Homes (POHs). This strategy aims to enhance the exit cap rate and improve refinancing options. We look forward to the opportunities this acquisition will bring! For further details, check out our full article here: https://lnkd.in/gsYWndkw #RealEstate #ManufacturedHousing #MHC #AffordableHousing