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
Affordable Housing
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Colorado’s Drive It Home financing kicks off with affordable condos
A small condominium project in Denver’s West Colfax neighborhood may be the best evidence yet that Colorado’s housing reforms are producing real results. The Colorado Housing and Finance Authority this month closed a $5.7 million low-interest construction loan for Wolff Street Flats, a 23-unit affordable for-sale development by Osina Development and Modus Real Estate. It […]
New York reform prioritizes housing production over climate review
New York state’s most sweeping reform of a 50-year-old environmental review law is on the books. Gov. Kathy Hochul secured the changes as part of the state budget, cutting red tape on housing construction. Developers, municipalities and environmental advocates are watching to see how the law works in practice in the real world. Rules still […]
Illinois Gov. Pritzker’s sweeping housing reform package hits a wall
Illinois Gov. J.B. Pritzker’s push to reshape the state’s housing landscape ended with nary a whimper last week, with no votes as National Homeownership Month began. His sweeping Building Up Illinois Developments plan stalled before the legislature adjourned, leaving the most ambitious housing proposals with little room to maneuver until fall. His plan sought to […]
May rent trends run sideways as multifamily supply stays strong
Policymakers have been making the case that more supply is a better check on housing costs than rent stabilization. May apartment rental data backs up that narrative. Rents ticked up modestly last month, the fifth consecutive month of sequential growth. But May’s reading was the lowest for that month since 2010, according to apartment data […]
Akron looks to deflate minimum lot size rules to spur infill
Leaders in Akron, a heartland city nearly 40 miles south of Cleveland, hope to shed the city’s “Rust Belt” label and drive its emerging revival by making it easier to build new homes. To achieve the objective, planners believe they’re on the verge of eliminating minimum lot sizes to counteract a shrinking-city paradox. Population loss […]
Pennsylvania ADU bill clears House, heads to Senate
Pennsylvania Gov. Josh Shapiro declared he intended to go big on housing. On Monday, at least one piece of that ambition cleared the state House with a bipartisan vote, setting up a tougher sell in the Republican-controlled Senate. The House passed House Bill 2186, requiring municipalities statewide to allow one accessory dwelling unit per residential […]
Mamdani’s $22 billion ‘grand bargain’ for NYC affordable housing
Zohran Mamdani ran for mayor on one promise: make New York City affordable again. This week, he moved to further dismantle the rules New York spent decades erecting to prevent residential density. Mamdani released a 10-year housing plan pledging to build 200,000 new affordable homes while preserving 200,000 more. “These are the most ambitious affordable […]
ROAD wins House nod, carving BTR out from institutional investor ban
House passed the ROAD to Housing Act 396-13, removing a 7-year BTR selloff rule while keeping a 350-home investor ban with carve-outs.
Fault lines surface as projects tap California’s CEQA exemption law
Last July, California Gov. Gavin Newsom signed a landmark law shielding apartment and residential projects from lengthy environmental review processes to boost the state’s housing supply and improve affordability. It’s working – but not without a fight. Developers wasted no time seizing the opportunity. A growing list of housing developments are securing exemptions from reviews […]