InterFace Conference Group’s Post

Here’s what’s scheduled for our InterFace Affordable Housing Southeast conference this Thursday, May 9th at the Cobb Galleria Centre. 7:30 AM – 8:10 AM - Breakfast Buffet and Networking 8:10 AM – 8:15 AM - Introduction Scott France, President, France Media, Inc. 8:15 AM – 9:05 AM - Finance/LIHTC (Access to capital, equity, debt and options for affordable and workforce housing.) Kathleen Cohen, Director, Mortgage Banking, Berkadia Kells Carroll, Partner - Director of Acquisitions, Sugar Creek Capital Mitch K., Director, Georgia Department of Community Affairs Michael Hopps, Vice President, R4 Capital Funding Cindy Hannon, Senior Vice President, BWE Catherine Sterba, FHL Home Bank of Atlanta, Community Investment Services - Moderator 9:05 AM – 9:15 AM - Networking Break 9:15 AM – 10:05 AM - Investment Sales (Top brokers from across the Southeast discuss who is buying and selling affordable and workforce housing.) Kyle Shoemaker, Managing Director, Affordable Housing Investment Brokerage Kevin I. Morris, Senior Director, Colliers Frank McGough, SE Affordable Lead, Cushman & Wakefield Cory Caroline Sams, Executive Managing Director, GREA Doug Childers, Sr. Managing Director, Affordable Housing, JLL Brian Flanagan, Regional Director, RBC Community Investments - Moderator 10:05 AM - 10:55 AM - Design/Construction (What is the latest in design, construction and technology for affordable & workforce housing?) W. Ross Haynes, Chief Executive Officer, Community Construction Group Tom Liebel, VP, Multifamily Sector Leader, Moseley Architects Mike Flanigan, Business Development Director, Flournoy Construction Mark English, President, E&A Team Ian Hoffman, Associate Principal, Niles Bolton - Moderator 10:55 AM – 11:05 AM - Networking Break 11:05 AM – 11:55 AM - Developer/Owners/Investors (Who is building developing & investing in the Southeast?) Josh Mandell, President & COO, The Gateway Companies Jon Toppen, President, Tapestry Development Amon Martin, Regional Vice President, Pennrose Ray Kuniansky, Chief Development Officer, Columbia Residential Nick Andersen, SVP & Project Partner, Dominium Maureen Freehill, Director, National Church Residences Cody Wilson, Managing Director, Piper Sandler & Co. - Moderator 11:55 AM – 12:45 PM - Southeast Regional Housing Authorities & legal update (Hear from the Southeast's most innovative housing authorities and attorneys.) Douglas Faust, CEO & Exec. Director, Decatur Housing Authority Yvonda A. Bean, CEO & Executive Director, Columbia Housing Phil Perkins, SVP, Community Development, Invest Atlanta Chris Loebsack, Managing Principal, Loebsack & Brownlee Richelle Patton, President, Collaborative Housing Solutions - Moderator 12:45 PM - 2024 InterFace Affordable Housing Southeast Concludes Register Here: https://lnkd.in/gBxr3ejJ #IFAffordableHousingSE #affordablehousing #commercialrealestate #cre #networkingevent

Here’s what’s scheduled for our InterFace Affordable Housing Southeast conference on Thursday, May 9th. 7:30 AM – 8:10 AM - Breakfast Buffet and Networking 8:10 AM – 8:15 AM - Introduction Scott France, President, France Media, Inc. 8:15 AM – 9:05 AM - Finance/LIHTC (Access to capital, equity, debt and options for affordable and workforce housing.) Kathleen Cohen, Director, Mortgage Banking, Berkadia Kells Carroll, Partner - Director of Acquisitions, Sugar Creek Capital Mitch K., Director, Georgia Department of Community Affairs Michael Hopps, Vice President, R4 Capital Funding Cindy Hannon, Senior Vice President, BWE Catherine Sterba, FHL Home Bank of Atlanta, Community Investment Services - Moderator 9:05 AM – 9:15 AM - Networking Break 9:15 AM – 10:05 AM - Investment Sales (Top brokers from across the Southeast discuss who is buying and selling affordable and workforce housing.) Kyle Shoemaker, Managing Director, Affordable Housing Investment Brokerage Kevin I. Morris, Senior Director, Colliers Frank McGough, SE Affordable Lead, Cushman & Wakefield Cory Caroline Sams, Executive Managing Director, GREA Doug Childers, Sr. Managing Director, Affordable Housing, JLL Brian Flanagan, Regional Director, RBC Community Investments - Moderator 10:05 AM - 10:55 AM - Design/Construction (What is the latest in design, construction and technology for affordable & workforce housing?) W. Ross Haynes, Chief Executive Officer, Community Construction Group Tom Liebel, VP, Multifamily Sector Leader, Moseley Architects Mike Flanigan, Business Development Director, Flournoy Construction Mark English, President, E&A Team Ian Hoffman, Associate Principal, Niles Bolton - Moderator 10:55 AM – 11:05 AM - Networking Break 11:05 AM – 11:55 AM - Developer/Owners/Investors (Who is building developing & investing in the Southeast?) Josh Mandell, President & COO, The Gateway Companies Jon Toppen, President, Tapestry Development Amon Martin, Regional Vice President, Pennrose Ray Kuniansky, Chief Development Officer, Columbia Residential Nick Andersen, SVP & Project Partner, Dominium Maureen Freehill, Director, National Church Residences Cody Wilson, Managing Director, Piper Sandler & Co. - Moderator 11:55 AM – 12:45 PM - Southeast Regional Housing Authorities & legal update (Hear from the Southeast's most innovative housing authorities and attorneys.) Douglas Faust, CEO & Exec. Director, Decatur Housing Authority Yvonda A. Bean, CEO & Executive Director, Columbia Housing Phil Perkins, SVP, Community Development, Invest Atlanta Chris Loebsack, Managing Principal, Loebsack & Brownlee Richelle Patton, President, Collaborative Housing Solutions - Moderator 12:45 PM - 2024 InterFace Affordable Housing Southeast Concludes Register Here: https://lnkd.in/gBxr3ejJ #IFAffordableHousingSE #affordablehousing #commercialrealestate #cre #networkingevent

Here’s what’s scheduled for our InterFace Affordable Housing Southeast conference on Thursday, May 9th. 7:30 AM – 8:10 AM - Breakfast Buffet and Networking 8:10 AM – 8:15 AM - Introduction Scott France, President, France Media, Inc. 8:15 AM – 9:05 AM - Finance/LIHTC (Access to capital, equity, debt and options for affordable and workforce housing.) Kathleen Cohen, Director, Mortgage Banking, Berkadia Kells Carroll, Partner - Director of Acquisitions, Sugar Creek Capital Mitch K., Director, Georgia Department of Community Affairs Michael Hopps, Vice President, R4 Capital Funding Cindy Hannon, Senior Vice President, BWE Catherine Sterba, FHL Home Bank of Atlanta, Community Investment Services - Moderator 9:05 AM – 9:15 AM - Networking Break 9:15 AM – 10:05 AM - Investment Sales (Top brokers from across the Southeast discuss who is buying and selling affordable and workforce housing.) Kyle Shoemaker, Managing Director, Affordable Housing Investment Brokerage Kevin I. Morris, Senior Director, Colliers Frank McGough, SE Affordable Lead, Cushman & Wakefield Cory Caroline Sams, Executive Managing Director, GREA Doug Childers, Sr. Managing Director, Affordable Housing, JLL Brian Flanagan, Regional Director, RBC Community Investments - Moderator 10:05 AM - 10:55 AM - Design/Construction (What is the latest in design, construction and technology for affordable & workforce housing?) W. Ross Haynes, Chief Executive Officer, Community Construction Group Tom Liebel, VP, Multifamily Sector Leader, Moseley Architects Mike Flanigan, Business Development Director, Flournoy Construction Mark English, President, E&A Team Ian Hoffman, Associate Principal, Niles Bolton - Moderator 10:55 AM – 11:05 AM - Networking Break 11:05 AM – 11:55 AM - Developer/Owners/Investors (Who is building developing & investing in the Southeast?) Josh Mandell, President & COO, The Gateway Companies Jon Toppen, President, Tapestry Development Amon Martin, Regional Vice President, Pennrose Ray Kuniansky, Chief Development Officer, Columbia Residential Nick Andersen, SVP & Project Partner, Dominium Maureen Freehill, Director, National Church Residences Cody Wilson, Managing Director, Piper Sandler & Co. - Moderator 11:55 AM – 12:45 PM - Southeast Regional Housing Authorities & legal update (Hear from the Southeast's most innovative housing authorities and attorneys.) Douglas Faust, CEO & Exec. Director, Decatur Housing Authority Yvonda A. Bean, CEO & Executive Director, Columbia Housing Phil Perkins, SVP, Community Development, Invest Atlanta Chris Loebsack, Managing Principal, Loebsack & Brownlee Richelle Patton, President, Collaborative Housing Solutions - Moderator 12:45 PM - 2024 InterFace Affordable Housing Southeast Concludes Register Here: https://lnkd.in/gBxr3ejJ #IFAffordableHousingSE #affordablehousing #commercialrealestate #cre #networkingevent

Here’s what’s scheduled for our InterFace Affordable Housing Southeast conference on Thursday, May 9th. 7:30 AM – 8:10 AM - Breakfast Buffet and Networking 8:10 AM – 8:15 AM - Introduction Scott France, President, France Media, Inc. 8:15 AM – 9:05 AM - Finance/LIHTC (Access to capital, equity, debt and options for affordable and workforce housing.) Kathleen Cohen, Director, Mortgage Banking, Berkadia Kells Carroll, Partner - Director of Acquisitions, Sugar Creek Capital Mitch K., Director, Georgia Department of Community Affairs Michael Hopps, Vice President, R4 Capital Funding Cindy Hannon, Senior Vice President, BWE Catherine Sterba, FHL Home Bank of Atlanta, Community Investment Services - Moderator 9:05 AM – 9:15 AM - Networking Break 9:15 AM – 10:05 AM - Investment Sales (Top brokers from across the Southeast discuss who is buying and selling affordable and workforce housing.) Kyle Shoemaker, Managing Director, Affordable Housing Investment Brokerage Kevin I. Morris, Senior Director, Colliers Frank McGough, SE Affordable Lead, Cushman & Wakefield Cory Caroline Sams, Executive Managing Director, GREA Doug Childers, Sr. Managing Director, Affordable Housing, JLL Brian Flanagan, Regional Director, RBC Community Investments - Moderator 10:05 AM - 10:55 AM - Design/Construction (What is the latest in design, construction and technology for affordable & workforce housing?) W. Ross Haynes, Chief Executive Officer, Community Construction Group Tom Liebel, VP, Multifamily Sector Leader, Moseley Architects Mike Flanigan, Business Development Director, Flournoy Construction Mark English, President, E&A Team Ian Hoffman, Associate Principal, Niles Bolton - Moderator 10:55 AM – 11:05 AM - Networking Break 11:05 AM – 11:55 AM - Developer/Owners/Investors (Who is building developing & investing in the Southeast?) Josh Mandell, President & COO, The Gateway Companies Jon Toppen, President, Tapestry Development Amon Martin, Regional Vice President, Pennrose Ray Kuniansky, Chief Development Officer, Columbia Residential Nick Andersen, SVP & Project Partner, Dominium Maureen Freehill, Director, National Church Residences Cody Wilson, Managing Director, Piper Sandler & Co. - Moderator 11:55 AM – 12:45 PM - Southeast Regional Housing Authorities & legal update (Hear from the Southeast's most innovative housing authorities and attorneys.) Douglas Faust, CEO & Exec. Director, Decatur Housing Authority Yvonda A. Bean, CEO & Executive Director, Columbia Housing Phil Perkins, SVP, Community Development, Invest Atlanta Chris Loebsack, Managing Principal, Loebsack & Brownlee Richelle Patton, President, Collaborative Housing Solutions - Moderator 12:45 PM - 2024 InterFace Affordable Housing Southeast Concludes Register Here: https://lnkd.in/gBxr3ejJ #IFAffordableHousingSE #affordablehousing #commercialrealestate #cre #networkingevent

FOUR FLA CITIES LEAD NEW APARTMENTS By Caden DeLisa, The Capitolist Miami, Orlando, Tampa, and Jacksonville all ranked within the top 20 U.S. cities for apartment construction in 2023, though concerns over housing affordability persist. In 2023, the Miami metropolitan area was ranked as the fourth largest metro in the country for new apartment construction, according to a RentCafe market insights report, with 20,906 completed units. The bulk of these apartments were within the city of Miami itself, accounting for 9,362 units, followed by Hialeah (2,055 units), and West Palm Beach (1,175 units). The other three top Florida cities were: - Orlando, 13th, 10,212 new units. - Tampa, 16th, 8,817 units. - Jacksonville, 18th, 7,145 units. New York City, New york; Dallas, Texas; and Austin, Texas were the three top-ranked cities, with 33,001, 23,659, and 23,434 units, respectively. The surge in construction across these Florida cities was propelled by several factors, according to the report, including a sustained shift towards remote work dating back to the pandemic. However, the focus on high-end apartments for upper-middle and high-income renters raises concerns about housing affordability for the broader population. “Households grew at a rapid rate after the pandemic as job growth boomed and young adults moved out of their parents’ homes,” said Doug Ressler, manager of business intelligence at Yardi Matrix. “At the same time, work-from-home prompted renters to form their own households to gain more living space for offices, children and pets.” https://lnkd.in/eUUNrhfy

Strategies to Establish Successful Affordable Housing Amid Market Challenges Frustrated by high costs and a lending crunch for market-rate multifamily projects, savvy mainstream developers are seeking opportunities to build affordable housing. But what constitutes opportunity in a sector reliant on agency lending, community stakeholders and controlled rents? Definitions of “opportunity” in affordable housing vary widely, and favorable elements often involve additional and unique challenges. Not only must developers identify opportune site conditions, but they must also evaluate prospects to compete for funding, secure municipal approvals and win community support. And they need to complete the project within required timeframes in order for the asset to qualify as a good opportunity. REBusiness asked experts from two firms at the forefront of affordable housing development about what affordable housing “opportunity” looks like — and about the strategies they use to transform promising sites into viable projects. Beacon Communities LLC is an established developer of affordable, market-rate and mixed-income housing, while Bohler’s land development consulting and site design services have helped clients identify and act on commercial real estate opportunities for more than 35 years. “We look at any development opportunity through three lenses,” says LeAnn Hanfield Curtin, vice president of development at Beacon. “Those are the availability of sites, ability to get necessary zoning and how well the project aligns with state policy goals.” Plus insights from Emily Bouton, Beacon Communities LLC; Sara Link, P.E., Bohler DC; and Erin Gogolin, Bohler https://lnkd.in/dvua9Bpr Sponsored by Bohler #cre #commercialrealestate #multifamily #affordablehousing

It’s common knowledge that Massachusetts, and Greater Boston in particular, is facing a housing crisis. To combat this, there has been a widespread increase in policies that support housing production, both at the state level, and in individual municipalities.   A recent story from Boston Business Journal gives another reason for urgency on this matter. An estimate from RentCafe found that the Boston area will see fewer rental units built in the coming five years than it has in the previous five after analysis of construction data. That estimate suggests the Boston metro area will build 35,772 units by 2029, which represents a ten percent drop from the previous five years, and a far cry from the state-wide housing deficit of 200,000 homes we need to build to get back on track.   As the article notes, the estimate ranks Boston below cities like Raleigh, North Carolina, and San Antonio, Texas. Housing is a huge barrier to the state’s economic competitiveness, and without an increase in the supply, residents will continue to migrate to the faster growing states with lower housing costs. It’s no coincidence that states like North Carolina and Texas represent prime competition to our economy. Failing to keep up with their housing production puts Massachusetts in a less advantageous position when vying for businesses and talent.   The study itself does not take into account recent policy changes, including the MBTA Communities Act, recent housing bond bill, or Boston’s tax break for office to residential conversions – all important, housing-forward policies, though no silver bullet. Developers continue to face major challenges, including, as the article notes, the high cost of construction locally.   The basis of the region’s housing crisis is that demand is outpacing supply. In order to combat this, we need to continue to reduce barriers to building more housing, including cost and restrictive zoning. While the latest policies are a step in the right direction, we need to do more to ensure that the number of homes built in the state continues to grow.   Read more here: https://lnkd.in/eyngAq4s

Significant Drop in Multifamily Building Proposals in NYC in 2023 Fewer Housing Applications in NYC: Developers proposed only 285 multifamily buildings in 2023, providing 9,909 housing units, significantly less than the city's annual target. The number of new filings dropped dramatically after June 2022, with just 19 new buildings proposed in November and 25 in December. Decline in Large-Scale Filings: There were only 28 new filings for buildings with more than 100 units, marking a 78% drop from 2022. Challenges and Proposed Solutions: NYC faces twin crises of housing supply and affordability, resulting in record-breaking rents. Read full story here: https://lnkd.in/g8AXU4WR

This week's newsletter focuses on Section 42 housing, the modern alternative to those towering, lackluster, public housing projects of the past. It turns out that multifamily development and design wasn’t the government’s strong suit. Thankfully, lawmakers created programs like Section 42 to empower private developers to build affordable housing. Transitioning to privately built affordable housing has resulted in buildings that are designed better, managed more effectively, better located, and more cost-effective. Here are the basics: Section 42, is also known as the Low-Income Housing Tax Credit (LIHTC) program. Developers apply to receive tax credits to reduce the down payment costs. In return for accepting Section 42 tax credits, the newly developed apartment complex can only accept tenants who fall below certain income levels; rents are also capped. A better use of government dollars: Providing affordable housing is a core mission for the government, but its track record as a developer is poor. Ballooning construction costs and long completion timelines were common. When your construction project has the backing of the US government, there is no need to pinch pennies. On the other hand, private developers need to operate efficiently to make a profit. Cost overruns and long construction delays could spell disaster for their bottom line. It’s this dynamic that lawmakers recognized when they decided to put affordable housing development in the hands of private developers. A much better place to live: With Section 42, the developer is investing equity into the deal, and they are the long-term owner. This incentivizes them to build high-quality, fully amenitized apartment buildings in nice neighborhoods. These properties typically have underground parking, fitness centers, community rooms, the whole nine yards. As the property owner, the developer is also incentivized to maintain the property well, and manage it professionally. Government-built housing projects were often developed and managed with no such thoughtfulness. These buildings commonly had small apartments, too few elevators, no balconies, and zero amenities. Their property management and maintenance were poor as well. The Pruitt-Igoe housing complex in St. Louis, MO is an infamous example of poorly built and managed public housing. Built in 1954, the 33 buildings totaled 2,870 units. Badly designed and managed, the entire complex had to be demolished within 20 years. TL;DR: When they divested from public housing to empowering private developers with Section 42 tax credits, lawmakers not only optimized the use of government funds, but also ensured the creation of higher-quality, better-designed affordable housing.