Nan McKay and Associates (NMA)’s Post

🎓🏢Overcoming Common Student Housing Challenges🎓🏢 Managing student housing comes with its unique challenges, from seasonal turnover to ensuring high occupancy rates. At Specialty Management, we’ve crafted effective strategies to tackle these issues head-on. Discover how we turn challenges into opportunities and keep our communities vibrant and successful. 🌟 Let’s explore how we can support your property management goals. 🤝 #StudentHousing #ProblemSolving #PropertyManagement #OnsiteTeams #CommunitySuccess

Thank you to the The Urban Developer for the mention! Below are some of my thoughts about BTR and PBSA players organically expanding across different 'Living' typologies. After all, along with Co-Living these assets can be collectively caterogrised as Purpose-Built Rental Product with income underpinned by an operating business. The key component therefore is in understanding the operational business behind the asset and ensuring the asset is well-positioned to a target demographic within a micro location.

Friend of Casita University of California, Berkeley Terner Center for Housing Innovation has created an important interactive resource that demonstrates how builders and developers determine feasibility for housing projects. This tool and the accompanying updated report explore the many factors behind the decisions of what gets built. If you’ve ever wondered why public subsidy and other interventions are needed to build homes that are affordable for low and moderate income tenants and owners, wonder no more–hop on the link and try out the interactive tool yourself! Read more: https://lnkd.in/g8arVT6V #MiddleHousing #BuildTheMiddle #HousingInnovation

Scion Launches Strategic Housing Planning Service Read the full article below..

Affordable by design: thanks to Wes Fuller of leading housing developer Greystar for speaking to our UNC Kenan-Flagler Business School real estate students today about building multifamily rental properties affordable to households at 70-100% AMI, made affordable by less expensive land sites, simpler design, faster execution, and modular construction, without public subsidy. A commitment to cap rent increases at 3% or CPI shows understanding of mid-market affordability and the essential worker renter. With an immediate housing shortage in the millions of units across a range of price and rent levels, the private real estate development sector needs to be part of the effort to close the gap by tapping development capacity and access to capital to deliver much more affordable middle income housing quicker and at scale, preserving limited public subsidies for lower income households.

🏠 LA's new Housing Element Rezoning Program includes the Citywide Housing Incentive Program Ordinance (CHIP), designed to fast-track project reviews and provide attractive incentives, especially for affordable housing near transit hubs. Key Programs under CHIP: 📝 Affordable Housing Incentive Program (AHIP): Streamlines procedures and offers incentives for 100% affordable housing, with greater benefits for projects with more than five units. 📝 Revised Density Bonus: Updates to the City’s Density Bonus to improve project review and align with State Density Law. 📝 Mixed Income Incentive Program (MIIP): Boosts affordable housing near major streets and transit, with new incentive areas. All ordinances are still being drafted and up for public input. https://lnkd.in/gb7DKMdS

Project-Based Vouchers (PBV) are among the most effective tools MPHA has to help build new and sustain deeply affordable housing across Minneapolis. MPHA recently awarded 85 PBVs to six different housing developments across Minneapolis. Across the six projects, a total of 389 new homes at various affordability levels have been proposed. At least 75 percent of MPHA’s 85 PBV units will be available to residents at or below 30 percent Area Median Income (AMI), with the remaining being reserved for those at or below 50 percent AMI.    Since 2019, MPHA PBVs have accounted for more than half of all deeply affordable homes built in Minneapolis. Further, the agency has committed to helping develop at least 150 new units of deeply affordable housing each year over the next four years as a part of the agency’s five-year strategic plan.     Learn about the six developments awarded PBVs: bit.ly/Summer24PBVs.

LA's CHIP strategy: More affordable units = more density and incentives Base zoning, moderate/higher resource areas, and proximity to transit will also affect magnitude of affordability incentives #LAcityplanning #Lahousing

I applaud the decision to prioritize modular and innovative housing projects with Prop 123 funds! This is an incredible way to create new affordable housing supply while building the ecosystem for larger system-level solutions. However, there are some inherent challenges to pairing modular construction with affordable housing models, namely making line-time and material deposits. It can be hard to align modular factory time with the timing of the required state and local subsidies. This challenge will get easier as DOH and Prop 123 funds are more quickly administered but needs to be proactively addressed with state and local partners, the development team, and the modular factory. Between incredible land-use reform, new dedicated funding sources, and forward-thinking policy like this Colorado is leading the charge on affordable housing solutions!

How are developers navigating the challenges of today's economic landscape to deliver new student housing? Join Jason Doornbos and a panel of industry leaders next week at the NMHC Student Housing Conference as they explore innovative strategies for development and renovation in today’s market conditions.