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Explore the intricacies of multifamily housing in the HUD and affordable housing sector with our latest blog. Learn how Falkenberg/Gilliam & Associates expertly manages these properties to meet diverse community needs. 🏘️🔑 #AffordableHousing #PropertyManagement

Conversion of commerical properties to residential use continues to be top of mind. We highlight a California program called Project Homekey (see: https://zurl.co/jJ7M), which helps fund conversion of different property types from their former use into new interim and permanent affordable housing. Most of the projects statewide involve conversion of hotels and motels, followed by conversion of multifamily and other commercial properties. Now in its 3rd funding round, the program has impacted close to 10,000 households and has put $1.9 billion into the conversion rehab projects and subsequent operating support for the new housing that results. The City of Fresno and its partners have acquired and converted 7 hotels or motels in the last 2 years, as covered in this story from Fresnoland. With eProperty Innovations' help, Fresno is also working to create California's first municipal land bank. Addressing the city's dire lack of affordable housing amidst continued and projected growth requires an all-of-government approach and Fresno is certainly doing that. https://zurl.co/zSb1

LA City Planning wants to know where you want to see more affordable housing. Can multifamily developments be integrated into R1 zones in LA? I think so. See the survey link below. In a surprising (or maybe not so surprising) move, @Planning4LA has decided that: - single-family zoned land is not being considered eligible for the Affordable Housing Overlay incentives AND - single-family zoned sites are not being considered in the expansion of the TOC Affordable Housing Incentive This will limit the geographic areas for new housing re-zoning programs. Thoughts? https://lnkd.in/g3BpnAuc

“Affordable housing is the key to creating a city that thrives for everyone, and it has been severely lacking in our community for over a decade,” said Mayor Jeffrey Bernstein. “Standing here, you can see that’s starting to change. By partnering with CHOC, this vision is now a reality. Monarch Apartment Homes is a testament to the city of #PalmSprings’ commitment to bringing more inclusive quality housing into our communities.” “As we continue to see cities and counties across the state develop new strategic approaches to meet #affordablehousing needs in their communities, it’s the importance of public-private partnerships that shines through. Collaboration is the cornerstone of any one person or entity’s success, and that could not be truer in this case,” said Joy Silver, CHOC's chief strategy officer. “Our partnership with the city of Palm Springs allowed for this much-needed community to come to fruition, fulfilling a decades-old need for residents of this city; and this is only the beginning.” READ Affordable Housing Finance's full report below. #chocmonarch #chocxmw #monarchapartmenthomes #davisreedconstruction #affordablehousing #coachellavalley #chochousing #palmsprings #modernismweek #mw2024 #modernismweek2024 #realestatedevelopment #realestatedeveloper #sterlingasset

Build-to-Rent (BTR) communities, like our 344-unit Bedrock at the Trails investment in #Albuquerque, offer an attractive option for #CRE #investors and an ideal solution for #renters seeking space amidst the “sea of apartments”. John Burns Research and Consulting recently highlighted the competitive edge of BTR communities.     Here are a few key takeaways:     Limited Supply, High Demand: BTR communities generate high demand due to their smaller supply (93K BTR units vs 430K Apartment Units completed in 2023) and appeal to higher-income earners seeking a residential environment.     Affordable Alternative: BTR tenants range from young singles and couples to growing families and older adults. With for-sale housing costs for entry-level homes 55% above BTR rents nationally, BTR offers a more attainable living solution.     Longer Tenancy: Tenants in BTR communities tend to stay longer due to the high costs of homeownership, limited options for a more spacious and private alternative to apartment living, and the often more appealing residential locations of these BTR communities.      #BTR #BuildToRent #InvestmentStrategy #OpportunityZone #OZInvestment

Have you noticed a change in the kind of homes popping up in small towns? There’s a growing trend that might have caught your eye, particularly if you’ve driven through Pataskala, Ohio recently. It’s the development of multifamily housing — apartments, townhouses and condos — that’s reshaping the landscape and the way people think about community living.

Community is the cornerstone of financial well-being. Clayton Edwards' Kenco Residential is proving this in Atlanta. By transforming apartments into thriving communities with on-site support services, they're demonstrating the powerful link between housing and holistic well-being. This inspiring model offers valuable lessons for businesses and communities alike. #CommunityDevelopment #RealEstate #CommunityImpact #FinancialInclusion #AffordableHousing #PropertyManagement #ChangingLives https://buff.ly/3M1BBrp

Chandler has given green light on 2,000 apartments; funding is obstacle Chandler has approved over 2,000 new apartment units, but construction has stalled due to a funding crunch, the East Valley Tribune reports. Developers are facing difficulties securing the necessary funds for construction after overpaying for land based on previous valuations. The city acknowledges a significant gap in affordable housing, particularly for low-income families. To address this, Chandler is partnering with private companies to build affordable units through the Rental Assistance Demonstration program. However, with limited undeveloped land remaining, the city faces challenges in expanding housing supply.   Read more: https://lnkd.in/gb3aDxXD   #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Multifamily #AffordableHousing #RealEstate

When is a Housing Crisis not a Housing Crisis? When you live in LA. Recent changes to the proposed Affordable Housing Overlay and Transit Oriented Communities programs have eliminated 82% of properties that could have been used to develop transit-accessible affordable housing in LA. These shifting sands further concentrate new developments into already economically challenged communities. 50% of new multifamily development sites will be in LA's poorest communities. These neighborhoods lack access to quality transportation options and basic infrastructure that would help to lift residents out of a cycle of housing instability. The only way to make housing affordable to everyone is to build more housing in more neighborhoods. FNX Development is committed to creating affordable housing options for middle-class residents, creating a brighter future for all of Los Angeles.

In addition to being a smart option for investors, John Burns Research and Consulting shared that Build-to-Rent (#BTR) communities such as our Bedrock project with Revitate and LaTerra Development statistically create housing solutions for many stages of life including: ·     30% of BTR Tenants are young singles/couples ·     20% are young families ·     20% are mature families ·     20% are mature singles/couples #HousingSolutions #NMRealEstate https://lnkd.in/eaDvTdau