NYC office-to-apartment mega project resumes after near disaster
The 1,600 unit project triggered 180 city inspections, with 65 violations and 18 partial stop work orders
Affordable Housing
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Voters seize the ‘say’ in key state battles for housing affordability
California voting on new housing reform ballot measures are underway; other states start early voting later this month
New York 485-x filings cluster at 99 units to avoid wage rule
Latent Urban found 49 registered projects at exactly 99 units across the April and October releases
Michigan primary wins bolster momentum for zoning reforms
Housing reform cosponsors who faced challengers won by 47.2 points on average, even as local governments oppose zoning preemption
Squeezed NYC affordable housing properties face reckoning
New York City’s regulated affordable housing sector is confronting a worsening financial squeeze, and a reckoning is coming unless solutions emerge, according to a new survey of owners, managers, lenders and other industry participants. The survey by affordable housing nonprofit NYC Housing Partnership found that 62% of respondents said operating costs have risen to unsustainable […]
Greystone’s new $137M fund lands as LIHTC investment rises
Greystone raised $137 million for a second multi-investor LIHTC fund in less than a year and now exceeds $240 million in total equity. The fund targets 1,960 units across 20 properties in nine states.
Florida county’s impact fees put new Live Local projects at risk
Indianapolis-based apartment developer Milhaus started building an apartment project in Manatee County, Florida, under the state’s Live Local Act after securing its funding earlier this year. It may be one of the few to be built in the county, next to Sarasota, under the law, until lawsuits over a major increase in impact fees are […]
DeSantis signs Live Local 4.0 housing reform into Florida law
Gov. Ron DeSantis signed the fourth iteration of the Live Local Act on Friday, cementing the state’s commitment to building affordable housing. House Bill 1389 takes effect July 1. It extends state preemption of local zoning rules and closes a loophole that local governments used to discriminate against affordable housing projects with relative impunity. Since […]
FHFA pushes GSEs to embrace chattel loans in Duty to Serve proposal
The FHFA has proposed replacing its existing Duty to Serve regulation with an outcome-based framework that would change how Fannie Mae and Freddie Mac support manufactured housing, affordable housing preservation and rural housing.
PNC Bank closes $251.4 million affordable housing fund
PNC Bank closed a $251.4M LIHTC fund to back 16 properties and more than 1,700 affordable rentals nationwide