On January 16, 2014, ULI’s Terwilliger Center for Housing, in partnership with the American Planning Association and the National Multifamily Housing Council, held the first annual ULI/Carolyn and Preston Butcher Forum on Multifamily Housing. Attended by 50 industry leaders, the event provided a forum to discuss the changing multifamily residential landscape and led to the development of a series of “big ideas” for expanding the availability of rental housing nationwide. The ten principles presented here are a summary of the ideas framed at this event.
This presentation was developed by Michelle McDonough Winters, Senior Visiting Fellow for Housing at the ULI Terwilliger Center. Special thanks to Doug Bibby and Mark Obrinsky at the National Multifamily Housing Council, who provided feedback on the development of the ten principles and assisted with some content of the presentation.
Issues and options for housing the urban poor in indiaJIT KUMAR GUPTA
Paper looks at the current status of Housing in India, roadblocks which are hampering the supply of housing the poor and suggests few strategies for creating housing stock for them to achieve the objective of Housing for All by 2022
Public Private Partnership in Affordable HousingJIT KUMAR GUPTA
Presentation is an attempt to showcase the need and methods of promoting public sector involvement in the Housing to achieve the goal of housing for all by 2022
NBNPHA 2013 CONFERENCE
“Affordable Housing – Planning for the Next Generation”
Mike O’Brien, Fredericton City Councillor
Chair, Affordable Housing Committee
presentation tries to focus on housing, its role and importance for communities and also how it can be made cost- effective in the background of Pradhan Mantri Awas Yojna
National Policies & Programs for Slum Upgrading in India: Bridging the Gap between Policy & Practices - Rajiv Ranjan Mishra - Third Expert Meeting of the Regional Slum Upgrading Working Group (RSUWG) - 29th. of November to the 1st. of December 2015 in Laleh International Hotel, Tehran, I.R. of Iran
It is time to move forward on affordable housing in New York, an update from LiveOn NY. For older adults, the lack of availability and affordable housing is a worsening crisis. Solutions recommended include production, preservation, and regulation. By retooling existing programs and additional investment in select programs, the City can serve at least 100,000 seniors, laying the groundwork to meet the housing needs of NYC’s growing elderly population.
Issues and options for housing the urban poor in indiaJIT KUMAR GUPTA
Paper looks at the current status of Housing in India, roadblocks which are hampering the supply of housing the poor and suggests few strategies for creating housing stock for them to achieve the objective of Housing for All by 2022
Public Private Partnership in Affordable HousingJIT KUMAR GUPTA
Presentation is an attempt to showcase the need and methods of promoting public sector involvement in the Housing to achieve the goal of housing for all by 2022
NBNPHA 2013 CONFERENCE
“Affordable Housing – Planning for the Next Generation”
Mike O’Brien, Fredericton City Councillor
Chair, Affordable Housing Committee
presentation tries to focus on housing, its role and importance for communities and also how it can be made cost- effective in the background of Pradhan Mantri Awas Yojna
National Policies & Programs for Slum Upgrading in India: Bridging the Gap between Policy & Practices - Rajiv Ranjan Mishra - Third Expert Meeting of the Regional Slum Upgrading Working Group (RSUWG) - 29th. of November to the 1st. of December 2015 in Laleh International Hotel, Tehran, I.R. of Iran
It is time to move forward on affordable housing in New York, an update from LiveOn NY. For older adults, the lack of availability and affordable housing is a worsening crisis. Solutions recommended include production, preservation, and regulation. By retooling existing programs and additional investment in select programs, the City can serve at least 100,000 seniors, laying the groundwork to meet the housing needs of NYC’s growing elderly population.
Produced by a partnership between real estate organizations and environmentalists, uses compelling visuals that show how compact development can create vibrant neighborhoods. And it shows how everyone can personally benefit from higher-density development—even those who live in single-family houses nearby.
Long Island's Needs for Multifamily HousingHR&A Advisors
HR&A and the Regional Plan Association's report for the Long Island Index studies the current multifamily housing market, and the needs to accommodate Long Island's future growth and economic prosperity.
Housing affordable to people regardless of their income is a precious resource to Oregon communities. Since 2007, partners throughout Oregon have worked together to hone strategies and build partnerships that are supporting the preservation of affordable housing throughout the state, including the purchase of manufactured home parks by resident cooperatives. This session will explore successes to date, the work that remains to be done, and our plans for this work in 2015.
Presenters
Michael Parkhurst, Meyer Memorial Trust
Julie Cody, Oregon Housing and Community Services
Barbara Shaw, Portland Housing Bureau
Patrick Shea, US Department of Housing and Urban Development
Shelly Cullin, Chrisman Development Company
Martha McLennan – Northwest Housing Alternatives
Chelsea Catto, CASA of Oregon
The Workgroup on Housing Affordability, Balance and Choice has illuminated housing needs across Oregon communities, and will advance proposals in the 2015 Oregon State Legislature that will help increase housing opportunity. This session will feature workgroup participants leading off a roundtable discussion about why we need a stronger “housing lens” in state government, what that might look like, and how we work to create it.
Presenters
Erin Doyle, League of Oregon Cities
Andrée Tremoulet, Commonworks Consulting
Kim Travis, Oregon Housing and Community Services
Janet Byrd, Neighborhood Partnerships
Kirk Monroe, Vectra Bank
Pat Coyle, Colorado Division of Housing
Carl Koelbel, Koelbel & Co.
Heidi Majerik, Forest City Stapleton
Susan Powers, Urban Ventures LLC
Renee Martinez-Stone, Perspective 3
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
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Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
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Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
ULI Terwilliger Center - Ten Principles for a New Era of Multifamily Rental Housing, Michelle Winters
1. Ten Principles for a New Era of Multifamily Rental Housing Michelle McDonough Winters Senior Visiting Fellow ULI Terwilliger Center for Housing July 2014
Via Verde, 2013 ULI Global Awards for Excellence Photo by David Sundberg/Esto
2. About the Terwilliger Center
Our Mission
Expand housing opportunity by leveraging the private sector and other partners to create and sustain mixed-income, mixed-use urban and suburban neighborhoods.
Our Work
•A multifaceted program of work organized into four broad categories:
(1)Research and education
(2)Publications
(3)Outreach and recognition
(4)Convenings
•Primary focus on state, regional and local programs/policies.
3. About this Presentation
•Carolyn and Preston Butcher Forum: On January 16, 2014, ULI’s Terwilliger Center for Housing, in partnership with the American Planning Association and the National Multifamily Housing Council, held the first annual ULI/Carolyn and Preston Butcher Forum on Multifamily Housing. Attended by 50 industry leaders, the event provided a forum to discuss the changing multifamily residential landscape and led to the development of a series of “big ideas” for expanding the availability of rental housing nationwide. The ten principles presented here are a summary of the ideas framed at this event.
•Contributions: Special thanks to Doug Bibby and Mark Obrinsky at the National Multifamily Housing Council, who provided feedback on the development of the ten principles and assisted with some content of the presentation.
•Author: Michelle McDonough Winters is Senior Visiting Fellow at the ULI Terwilliger Center for Housing and president of Winters Community Strategies, a consulting practice focusing on the intersection of affordable housing and sustainable communities. Ms. Winters has been working for the past 20 years in the housing and community development field on issues ranging from housing finance and policy to nonprofit capacity building. She previously oversaw green strategies at NeighborWorks America, served as the program director for affordable housing preservation at the Local Initiatives Support Corporation, and as a director in policy and business strategy divisions at Fannie Mae.
4. The landscape for housing in America is changing
71% believe “buying a home is probably a good investment for me.”
Source: ULI America in 2013 Survey
The Lure of Homeownership Remains Strong But while homeownership is an important component of our society and a large portion of us strive to own homes one day… the reality is that it is not always achievable and doesn’t always make sense.
5. The financial case for homeownership isn’t what we thought it was during the boom years
Obtaining a mortgage is much harder now as lenders remain conservative after overextending during the boom
Other changes are making things more challenging, for example…
Student Debt: 7 out of 10 kids coming out of college have debt averaging close to $30,000 per person, more than double the level 20 years ago.
Source: Project on Student Debt
6. Pew Research Center
Public perception of whether owning a home is even needed to be a part of the middle class has shifted
7. Trends are Reflected in Homeownership Rates
62.9
66.0
63.8
69.2
64.8
58
60
62
64
66
68
70
1965 Q1
1969 Q1
1973 Q1
1977 Q1
1980 Q1
1984 Q1
1988 Q1
1992 Q1
1995 Q1
1999 Q1
2002 Q1
2006 Q1
2010 Q1
2014 Q1
Homeownership Rate
Source: US Census
These changes show up in today’s homeownership rate which is now approximately where it was in the mid-1990s
8. Surge in Renter Households Expected
Source: Harvard Joint Center for Housing Studies America’s Rental Housing 2013
9. Growth in Renters at Both Ends of Age Spectrum
-217,449
1,216,951
922,660
-322,280
573,560
1,280,264
891,778
-600,000
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
Under 25
25-35
35-44
45-54
55-64
65-74
75+
Renter Growth 2013-2023
Source: Harvard Joint Center for Housing Studies America’s Rental Housing 2013
10. Components of Renter Growth, 2013-2023
106,964
1,075,625
2,317,895
845,000
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
White, NH
Black, NH
Hispanic
Asian/Other
Race/Ethnicity
1,308,559
1,235,312
1,271,345
530,269
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
With Children
Couples No
Children
Singles
Other
Household Type
Source: Harvard Joint Center for Housing Studies
America’s Rental Housing 2013
11. Multifamily Supply is Barely Keeping Up
0
50
100
150
200
250
300
350
400
Mar-2000
Jun-2000
Sep-2000
Dec-2000
Mar-2001
Jun-2001
Sep-2001
Dec-2001
Mar-2002
Jun-2002
Sep-2002
Dec-2002
Mar-2003
Jun-2003
Sep-2003
Dec-2003
Mar-2004
Jun-2004
Sep-2004
Dec-2004
Mar-2005
Jun-2005
Sep-2005
Dec-2005
Mar-2006
Jun-2006
Sep-2006
Dec-2006
Mar-2007
Jun-2007
Sep-2007
Dec-2007
Mar-2008
Jun-2008
Sep-2008
Dec-2008
Mar-2009
Jun-2009
Sep-2009
Dec-2009
Mar-2010
Jun-2010
Sep-2010
Dec-2010
Mar-2011
Jun-2011
Sep-2011
Dec-2011
Mar-2012
Jun-2012
Sep-2012
Dec-2012
Mar-2013
Jun-2013
Sep-2013
Dec-2013
Mar-2014
Multifamily Starts (in thousands)
Deficit created during housing crash
Only recently returning to more typical levels
Source: U.S. Census Bureau, New Residential Construction. Showing the average of the seasonally adjusted annual rate for the 3 months in each quarter.
12. Source: Harvard Joint Center for Housing Studies, America’s Rental Housing 2013. Moderately cost burdened households pay at least 30% of income toward rent; Severely burdened households pay at least 50% of income toward rent.
The share of cost burdened renter households has reached record levels. Half of all renters are at least moderately cost burdened. People who can’t afford to buy homes are also struggling to pay rent.
13. Ten Principles for a New Era of Multifamily Rental Housing
1
•Preserve What’s Already There
2
•Support Inclusive Communities Upfront
3
•Change the Dialog Locally
4
•Make Room for Rentals
5
•Simplify the Development Process
6
•Develop Sustainable and Walkable Communities
7
•Create a Community Not Just a Building
8
•Embrace New Technologies
9
•Leverage Financial Innovations
10
•Develop New Sources of Subsidy
While most of these principles are not really new, we need a revitalized focus on them and we need to bring new and innovative thinking to how we meet them.
14. Preserve What’s Already There
1
First look at what you have before you start to think about creating something new
15. 13%
9%
40%
27%
12%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Pre-1940
1940–1959
1960–1979
1980–1999
2000 or Later
Share of MF Rental Units by Year Built
Pre-1980 = 61%
Preserve affordability and diversity
•Older housing is a significant share of country’s housing stock.
•When this housing is in revitalizing neighborhoods – such as near a transit stop or an up and coming neighborhood, it’s vitally important to try to maintain as much of these outposts of affordability as we can.
•This housing helps us maintain a diversity within those communities that will help serve the new wave of renter households.
Source: Harvard Joint Center for Housing Studies America’s Rental Housing 2013
16. Preservation is Cheaper and Greener
The National Housing Trust reports that renovating an older property can be one-third to one- half as expensive as developing new housing
•Preservation saves energy through:
•Building Reuse – avoids unnecessary demolition and construction waste
•Infrastructure – doesn’t require providing new infrastructure
•Green Space – requires no new land to be developed
•Location – well-located housing in existing areas near transit avoids car- centric development
Source: National Housing Trust Affordable Housing Preservation FAQs
17. Preservation Comes in Many Shapes and Sizes
•Subsidized & Naturally Affordable
•We need to maintain “naturally affordable” housing in addition to subsidized housing. Both can be very challenging, but there are tools available.
•“Scattered” Preservation
•Affordable housing preservation can mean splitting up the subsidies and spreading the subsidized units throughout other properties in the area.
•This deconcentrates poverty and can encourage revitalization.
18. Preservation Strategies
•Preservation-Focused Financing programs allow recapitalization, renovation and extending affordability, or purchase by new owners that may be more committed to long term affordability
–Points and preferences in programs such as Low-Income Housing Tax Credits address preservation and transit-oriented development
–State and local housing trust funds and other flexible public funding
•Cross-Sector Partnerships and Collaboration such as in Portland and Chicago’s Preservation Compact coordinate and track progress on specific at-risk properties
See the National Housing Trust and Novogradac & Co.’s www.PrezCat.org for more details on state and local preservation strategies
19. Support Inclusive Communities Upfront
There are far too many examples of great plans and investments, such as new transit stops, where creating inclusive communities was an afterthought
2
22. Inclusionary Housing Policies
•Tyson’ s Corner in Fairfax, VA created a higher density plan to go along with a new Metro line, including a requirement that 20% of the units be set aside as affordable and workforce housing.
•The Columbia Pike Corridor Plan in Arlington County, VA allows for the use of an optional form- based code, with requirements to provide 20-25% of net new units above the existing standard zoning as committed affordable housing.
23. Mixed-Income Financing New York City’s 50/30/20 Program supports mixed- income projects that are:
•50% market
•30% middle income
•20% low-income Connecticut’s Housing Finance Authority provides subsidized loans for any projects with at least 20% of units affordable to low-income households.
24. “We try to build and design places that all ages will enjoy due to the great planning, location, and design. Experience has shown when you do this, you get a mix of people and a vibrant community.”
-ULI member Source: Residential Futures II: Thought-Provoking Ideas on What’s Next for Multigenerational Housing and Intergenerational Communities
25. Change The Dialog Locally
3
The more people think of renters as neighbors or family the more likely
they are to be open to policies and developments that serve them
26. What Language Do You Use?
Units
Homes
Dense
Liveable
Them
Us
Past
Future
See examples of housing-related communications campaigns at the National Housing Conference’s Housing Communications HUB
28. Crowdsourced Placemaking
Renaissance Downtowns’ approach to crowdsourced placemaking builds an online community to help build enthusiastic grass-roots community support in advance of new developments. This approach helps create political support for project approvals, and can help prove market support for projects as well.
29. Make Room for Rentals
4
Do our communities have room for this kind of housing within current zoning?
30. Vision
Goals
Enable
Incentive
States can provide meaningful incentives for local governments to reform zoning practices to make room for multifamily rental housing
Massachusetts has a 10,000 units plan and Compact Neighborhoods policy. The Compact Neighborhoods policy creates guidelines for communities to zone for higher density development in return for receiving preference in state funding rounds and other regulatory relief.
31. “…we will launch a Race to the Top that will prepare every child, everywhere in America, for the challenges of the 21st century.” —President Barack Obama, July 24, 2009
What if We Had a Race to the Top for Multifamily Rental Housing?
32. Simplify the Development Process
5
Can’t the process be simpler, more predictable, and more affordable?
33. Comprehensive Research on Cost Drivers and Potential Solutions
Barriers and drivers of cost include:
Scale
Parking requirements
Unit size and amenity requirements
Program inefficiencies
Discouraging innovation
Potential solutions, for example:
Reduce parking
Rehab codes
Enable by-right development
Smart impact fees
“First look” land disposal
Property tax abatements
“Green Tape”
Download the full report and executive summary
34. Redevelopment Ready Communities
Michigan’s Redevelopment Ready Communities® program certifies communities that integrate transparency, predictability and efficiency into their daily development practices, such as –
•An updated master plan
•Mixed use development allowed by right
•Zoning allows for a variety of housing options
•Clear and consistent site plan reviews
•Publishing an online list of redevelopment ready sites in each community ULI Minnesota created their own version of a (Re)development Ready Guide to advance best practices among local governments in the state.
35. The Green Tape program in Montgomery County, Maryland, expedites the zoning and permitting process for businesses in targeted areas
•Residential or mixed-use development that designates at least 20 percent affordable or moderate income units qualifies for Green Tape for Affordable Housing Massdocs is a unified loan closing document system that provides a common set of loan documents for subsidized affordable housing in Massachusetts.
•Provides an incentive for subordinate lenders on a deal to use the system to simplify the loan documentation and closing process.
•Coordinates the loan documents of 4 state agencies and 14 different programs.
Streamlining: from development approvals to financing
36. Develop Sustainable and Walkable Communities
6
The new era of multifamily rental housing will reflect a growing understanding of the importance of sustainability, and a growing desire for compact and walkable communities, even in suburbs
38. Source: Bill Frey, “Population Growth in America Since 2000: Putting the Volatile 2000s in Perspective.” Brookings Institution, 2012.
Data shows the dramatic shift toward urban or “urban-like” communities
•During the housing boom years the suburbs were really where the action was happening. People wanted to buy homes, and homes were easy to build out in the greenfield areas of newer suburbs and exurban areas.
•Now that the bubble has burst, people are realizing that more dense areas are more sustainable from a market demand perspective, not to mention an environmental perspective.
39. Niche Market
The Market
“The future of real estate is intimately intertwined with TOD and walkable urban development in general. What used to be a niche market is now the market. For at least the next generation, the bulk of real estate development will be higher-density, walkable urban places, and much of it will be served by rail transit.” - Christopher Leinberger
Source: Transit Oriented Development Outlook, Urban Land, August 2012.
40. Reducing or even eliminating parking requirements may be warranted in more walkable areas, which can help keep costs of development down.
•San Francisco has eliminated minimum parking requirements downtown and has established the opposite – maximums – in some areas. Denver and Portland have similar policies.
•The Metropolitan Transportation Commission’s smart growth parking resources provide many examples and resources from the Bay Area.
41. Create a Community Not Just a Building
7
Renters are looking for “authentic social spaces” within buildings or within walking distance – buildings will need more than an elevator lobby to create a community
42. “The architecture was award winning - but the lifestyle? There’s more going on at local cemeteries.”
•- Spiegel Online, describing City Nord, Hamburg (2010) – quoted in Design for Social Sustainability
44. Hardware (More Visible)
•Shared spaces
•Gardens
•Schools
•Shops
•Restaurants
•Public transport
Software (Less Visible)
•Cultural events
•Communication networks
•Clubs
•Co-ops
Social Infrastructure
For more on social infrastructure see Design for Social Sustainability: A framework for creating thriving new communities, Future Communities 2011.
45. Embrace New Technologies
8
The new era of multifamily rental housing needs to be forward-thinking and innovative, not bogged down by old and out of date building types, construction methods, and technologies
46. Modular Housing – it’s not just single-family homes anymore
–Atlantic Yards B2 modular tower by Forest City Ratner in New York is going to be the world’s tallest modular structure – 32 stories and 363 apartments.
Micro-units serve a clientele more interested in great places than big spaces
–Panoramic Interests built a SMARTSPACE® micro-unit project in San Francisco using modular construction with only a few days of onsite construction.
Both concepts in one project: The Harriet, SMARTSPACE® 295 square feet micro apartments, LEED Platinum modular construction, located in downtown San Francisco
47. Leverage Financial Innovation
9
In order for the new era to become a reality lenders and investors can and should be partners in innovation
48. New Investment Tools Can Enable Rental Housing Development and Preservation
•Transit-Oriented Affordable Housing Funds
–The Bay Area the Transit-Oriented Affordable Housing Fund partners are collaborating to encourage equitable TOD projects in the Bay Area and ensure that low-income families share in the benefits of more walkable neighborhoods and connections to the larger regional economy.
–The Denver TOD Fund, allows for the purchase and holding of property to create affordable housing around anticipated transit stations resulting from the expansion of the Denver area’s transit lines.
•Social-Purpose REITs
•Social-purpose REITs such as the Housing Partnership Equity Trust and The Community Development Trust provide investment to help preserve affordable housing properties for the long term. These REITs provide faster access to acquisition capital for the affordable housing developers who access the funds.
49. Financial Innovations Can Also Help Lower Costs
•Entity-Level Finance
–For affordable multifamily housing developers who put together one deal at a time, each with its own complex financing, moving from project-level financing to entity-level financing would reduce the costs of development and shorten the development timeline.
•More Efficient Use of Project Reserves
–Experienced affordable housing developers have a large amount of money tied up in project reserves. The Boston Foundation and the Massachusetts Housing Partnership created a Housing Reserve Assurance Program that replaces the traditional concept of project reserves with a credit facility that developers can buy into.
50. Develop New Sources of Subsidy
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State and local subsidy sources are essential to help fill funding gaps
51. Significant Uncertainty in Federal Funding for Affordable Rental Housing
•HOME funding has declined significantly
•The Low-Income Housing Tax Credit could potentially be affected by tax reform
•The National Housing Trust Fund is enacted but not currently funded
$-
$500
$1,000
$1,500
$2,000
HUD’s HOME Program Has Declined
52. Trust Funds and State Tax Credits Can Fill Gaps
•Create a local, regional or state-level housing trust fund, typically funded by a dedicated source of revenue such as a portion of local real estate taxes. According to the Center for Community Change:
–47 states and Washington DC have their own State Housing Trust Funds.
–9 states have legislation that encourages or enables local jurisdictions to dedicate public funds to affordable housing. Only 25 of them actually have operating trust funds at the local level.
•State Low-Income Housing Tax Credits
–14 states have their own form of the Low-Income Housing Tax Credit: a State-level LIHTC.
–California, Illinois and Georgia’s are substantial, providing over $20 million in credits per year.
•General Obligation Bonds
–Municipalities with bonding authority can issue bonds to fund affordable housing development and preservation.
53. The next 10-20 years will look nothing like the last 10 years. We need to refocus our efforts on what really matters to help us prepare for new era of multifamily rental housing.
Creating a supportive state and local policy environment
Enabling innovation
Looking forward instead of backward
Just a bit about the Center…
As you may know, the Center was founded in 2007 with a gift from Ron Terwilliger. Our focus for a number of years was on workforce housing, but we expanded our mission to focus on the full spectrum of housing choice and opportunity. That change has meant a number of wonderful things for the Center, but in short it means that we can engage with a broader range of partners and explore a broader set of housing issues.
And that bring us to the release of America in 2013…