Chicago has faced a bit of criticism for its groundbreaking and controversial plan to tear down its collection of dated and dangerous high-rise public housing properties and replace them with lower-density, mixed-income housing built by private developers.
Imagine losing half of your employees every year to turnover. For many multifamily companies, that's a stark reality, according to the National Multi Housing Council. Even worse, the relationship was probably doomed from the start. Researchers at Harvard Business School found that more than 75 percent of turnover could be traced back to poor hiring practices.
It's the kind of response a developer dreams of: The Weldon, a 17-unit condominium complex under construction in Wilmington, N.C., saw its pre-sells snapped up fast and for about $100,000 more per unit than expected.
More than a year after Hurricane Katrina devastated New Orleans and the Gulf Coast, questions and confusion still reign in rebuilding plans for the city. A key sticking point: a HUD redevelopment program intended to remake public housing in the Big Easy.
Even with its unusual challenges–namely, building a part-rental, part-for-sale housing development for both seniors and foster children on 47 acres of wetlands–Pam Goodman, president of Boston-based Beacon Communities Development, just couldn't say no.
