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The list of multifamily properties facing foreclosure due to the credit crunch might be growing—particularly among D class and smaller distressed properties. In some instances, operators there who opted for exotic ARMs can no longer afford mortgage payments, regardless of how much rent can be...
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Washington, D.C., is considering a new weapon in the never-ending battle to fund much-needed affordable housing in the nation's capital. The city commissioned a study to explore the use of commercial linkage fees—per-square-foot fees on new development that are used to finance below-market-rate...
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West Coast Gen Yers may soon be living small. Seattle-based Unico Properties has developed a green, prototype modular apartment, called inhabit, aimed at young professionals earning 80 percent to 150 percent of the area median income. The units—just 15 feet wide and 45 feet long—can be placed...
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While many leading U.S. REITs remain under the control of a founder or founding family, a growing number of these publicly traded firms are passing the reigns to a professional manager outside the family. This significant move, as well as the increasing appointment of second-generation family CEOs...
In a move that immediately cancels all exclusivity contracts between cable TV operators and multifamily property owners, the Federal Communications Communication adopted an order Oct. 31 determining that such contracts stifled competition and violated the Communications Act. Specifically, the order...
A Rutgers University study debunks the popular myth that high-density developments burden local school systems. The study, based on 2000 Census data, presents averages of the number of people, school-age children, and public school children that live in different types of communities. The study...
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Waukegan, Ill., is saying goodbye to manufacturing and hello to lakefront living. The small town north of Chicago wants to capitalize on its greatest asset—Lake Michigan—and transform the industrial lakefront area into a vibrant mix of residential, retail, and recreational offerings. But there are...
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Homeowners aren't the only ones facing a major housing crunch. Nationally, the number of working families paying more than half their income for rental housing (both multifamily and single-family) more than doubled from 1 million to 2.1 million between 1997 and 2005, according to
The condo boom? Busted. The credit crisis? Overblown. As real estate markets continue to adjust to recessionary conditions in the for-sale arena, business in multifamily rental properties is finally getting back to normal. Acquiring land is suddenly competitive again; due diligence periods are...