Rising operating costs, coupled with years of weak rental demand in many markets, have put pressure on property managers to look for ways to help apartment owners who have been pinched by property expenses. Read more
Affordable housing developers have been looking to tax-exempt bonds to help them escape hotly competitive 9% low-income housing tax credit rounds. Read more
The outmoded stereotype of “housing project” has evolved into what many affordable housing developments are today: home for residents who have pride of place regardless of income, and profitable business ventures for management companies and owners. Read more
Entering the new year, there were some signs that the recent pricing pressure in the low-income housing tax credit (LIHTC) market was starting to ease. Read more
Oakland, Calif. — Citizens Housing Corp. (CHC) has saved The Altenheim here in the Fruitvale area from dereliction Read more
Los Angeles — A new fund has been launched in California to help create 500 homes for purchase by middle-income workers. Read more
Madison, Wis. — The Wisconsin Housing and Economic Develop-ment Authority (WHEDA) has committed another $10 million to its Wisconsin Saving Our Stock (SOS) program, which focuses on preserving Sec. 8 units. Read more
Towns in rural Illinois are welcoming efforts to relieve housing pressures that have led to overcrowded, substandard housing and long commutes for workers in area factories and agribusinesses. Read more
Toledo, Ohio — Red Capital Markets, Inc., and Red Mortgage Capital, Inc., the investment banking and mortgage banking entities, respectively, of Red Capital Group, structured the financing of two multifamily apartment properties here. Read more
But passage of a bill revamping the regulation of the government-sponsored enterprises (GSEs) has grown less certain than at the end of 2005, when it seemed nearly a done deal. Read more
Sioux Falls, S.D. – The 62-unit Falls Terrace Apartments will be completed this spring and will increase the area’s affordable housing stock by about 10%. Read more
There are approximately 2.3 million grandparents in the nation who serve as the caregiver for the grandchildren who live with them, reported the Census Bureau. An estimated 5.5 million grandparents have grandchildren under 18 living with them. Housing dev Read more
The information presented here is intended solely for informational purposes and should not be construed as accounting advice from the author or Reznick Group. Read more
In this issue: New Department of Housing and Urban Development (HUD) final rules affecting Sec. 42: rent restrictions for project-based voucher units and the student rule. Also, is there a change in Sec. 42 utility allowances pending? Read more
Gardner, Mass. When WinnResidential took over management of Olde English Village here in 2004, the property had 30 vacant apartments, three unrentable units that had plumbing problems, a large and inefficient maintenance staff, unattractive grounds and a Read more
Akron, Ohio — One hundred single-family homes have been renovated and preserved as affordable rental units by the Akron Metropolitan Housing Authority (AMHA). Read more
The phrase “workforce housing” might sound like another bit of doubletalk invented in Washington to sell a pol-icy. Read more
Many cities are hungry for mixed-use affordable housing developments. City planners believe housing complemented by retail is key to community revitalization. Read more
New Orleans – Six months after Hurricane Katrina wreaked destruction on the Big Easy, efforts to rebuild and repopulate the city remain stalled, according to Amy Liu, deputy director for the Brookings Institution. Read more
eral Housing Administration (FHA)-insured multifamily loan firm commitments dropped 25% from $7.3 billion in fiscal year 2004 to $5.5 billion in fiscal year 2005, which ended Sept. 30, 2005. Read more
San Francisco — When it came to getting good media coverage of the disparity between the housing “haves” and the housing “have-nots,” no one did it better than Cushing Niles Dolbeare. Read more
The number of households with worst-case housing needs rose slightly from 2001 to 2003, according to a Department of Housing and Urban Development (HUD) report to Congress, but the department says the increase wasn’t statistically significant. Read more
The Department of Housing and Urban Development (HUD) made a point of warning and helping prospective grant applicants to prepare for the 2006 Super Notice of Funding Availability (SuperNOFA). Read more