Housing Development Consortium of Seattle - King County’s Post

The Real Deal has published more details on NYC EDC's latest RFP for the Staten Island waterfront development. The New York City Economic Development Corporation (NYCEDC) is inviting proposals for the construction of two mass timber apartment buildings as part of the Staten Island North Shore Action Plan. These buildings, planned for city-owned land along the Stapleton waterfront, aim to add over 500 housing units to the area. Located near the Urby residential complex, the development is part of a broader initiative to transform the waterfront into a vibrant, mixed-use community. Key aspects of the RFP include: The focus on mass timber construction, aligning with the city's sustainability goals. 99-year ground leases for developers, coupled with tax incentives (PILOT). A requirement that 25% of units be affordable, targeting households earning between 40% and 80% of the area median income. This initiative is a step forward in implementing the North Shore Action Plan, which aims to create a more livable, economically vibrant Staten Island waterfront. https://lnkd.in/erTSyGd7

Real Estate, Environmental and Land Use practice co-chair Craig Gianetti was featured in Grace Dixon's Law360 article "NJ Bill Paves An Aggressive Affordable-Housing Path." Gianetti noted that the legislation removed a bonus that had incentivized constructing rental housing, previously the most-used bonus. He added that the law introduces new bonuses, indicating State priorities, "Special-needs housing gets a bonus credit, age-restricted housing…gets a bonus credit…developing affordable housing on sites that were previously used for office, commercial or retail, you get a bonus credit for that." #NJLawyers #NJRealEstate #AffordableHousing #RealEstate

https://lnkd.in/gwUKxCgS Thank you Eddie Small of Crain's New York Business for covering growing interest in NYC office to residential conversions. Here at Rosenberg & Estis, P.C. we have been advising developers and lenders on potential conversions and how to underwrite the new 467-m tax incentive’s impact on property taxes and rents. See our introductory 467-m materials below and let us know if we can assist you with a conversion. 1. 4/22/24 - R&E overview of six of the major new housing laws (tax incentives - 421-a, 485-x, 467-m; Good Cause Eviction; Individual Apartment Improvement rent increases; and Lifting NYC’s residential floor area ratio cap): https://lnkd.in/eXCKwh27 2. 467-m Fact Sheet: 467-m: https://lnkd.in/et4Vadzr

Future Home Standard #ukhousing #affordablehousing #residential #housebuilding #insulation #architects #insulationforregulation #insulationforthermalcomfort #newhomes #refurbishment #acoustics #rmi #refurbishment #improvement #drylining #plastering #plasterer #cladding #facades

As Colorado continues to struggle with a housing shortage and affordability issues, Davis Partnership is proud to be leading the effort to convert office buildings in Denver into much-needed residences. Current efforts include the adaptive reuse of 475 17th Street (with Revesco Properties) into affordable and market-rate units and a conversion of a four-story property in the Tech Center (Shea Properties) into an option for lower-income renters. Lawmakers in Colorado are working on an initiative that would provide millions in tax incentives in hopes jumpstarting a conversion process that developers say is plagued with high costs and delays.   https://lnkd.in/gQgP8iVf

The latest issue of Housing Policy Debate focuses entirely on rental housing, and features the article, The Rent Eats First: Rental Housing Unaffordability in the United States, authored by our Whitney Airgood-Obrycki, Alexander Hermann, and Sophia Wedeen, alongside some terrific other pieces. https://lnkd.in/efmFf-ah

Wednesday, January 10 At tomorrow’s general policy committee meeting of the Gainesville City Commission we’ll be talking about a couple of land use and zoning ideas, including alterations to lot sizes and an inclusionary zoning package. I encourage you to take a look at the agenda here and the backup for the items we’ll hear: https://bit.ly/3Hei7xa Please read and consider this article from Axios in the context of all our housing discussions. https://bit.ly/3tLzZfS It describes the issue nationally, but is true locally as well. The problem is that there are more people who want to live near jobs and services than there are places for those people to live near them, and that the concept of supply and demand is a real thing. There is no shortage of innovative ideas - both high and low tech - to build housing, from shipping containers to pre-fabricated pods and everything in-between. Folks like to tell me about articles they’ve read about new technology that will make it less expensive to build. That isn’t the problem. What there is a shortage of is the will to build that housing in places where it makes sense. This is true nationally and locally. Everyone agrees that we need affordable, attainable housing. Few agree that it should be built near where they live. That isn’t an accusation of poor character, it’s a reality of human nature. — I took today’s photo at LaChua trail on new year’s eve.

Chicago, IL Cost of Living [2023] - Is It Affordable? WATCH THE FULL VIDEO HERE --> https://youtu.be/u5EemP9vp Join me as we dive into the heart of Chicago living. From housing costs to daily expenses, we'll cover it all in this video. Buckle up, and let's get started! Living Costs Discover the price tags on two-bedroom, two-bathroom condos in Chicago's top neighborhoods. From Lincoln Park to Hinsdale, we've got the scoop. Taxes and Utilities Learn about real estate taxes, income tax, sales tax, and utility costs to budget like a pro in the Windy City. Transportation Explore your commuting options, from the L train to parking woes and costs, we've got your back. Dining and Entertainment From dining out to fitness and entertainment expenses, we've got the inside scoop on the costs of having fun in Chicago. Planning a move? Reach out, and let's make your transition to the Windy City a breeze! #ChicagoCostOfLiving #ChiTownExpenses #BudgetingInChicago #ChicagoLife #AffordableChicago #LivingCosts #ChicagoExpenses #CityBudget #ChicagoHousing #ChiTownFinance #UrbanLiving #ChicagoEconomy #ChicagoLivingCost #MoneyInChicago #ChicagoFinancialTips #ChicagoAffordability #FinancialPlanning #ChicagoSavings #CityOfChicago #ChicagoMoneyMatters

In a remarkable show of urban renewal, Peoplefirst Developments has unveiled a $40-million transformation of the old SNC-Lavalin building located at 909 5th Ave. S.W., Calgary. This venture breathes new life into the structure as it now stands, housing over 100 apartment units and retail space on the ground floor. The redevelopment has not only reshaped the building’s physical outlook but has also dramatically escalated its financial value, with the assessed value skyrocketing from a previous $5.5 million to an estimated $33 million, reported BNN Breaking. "One inevitable consequence of the increased valuation is the substantial rise in the property’s municipal tax bill. Prior to its redevelopment, the building’s tax bill was pegged at approximately $41,000. Post-revamp, this figure is projected to quadruple to an estimated $180,000, with the potential for an even higher tax rate upon the project’s full completion, which currently stands at 80 percent." https://lnkd.in/gCXBX9_e #calgary #officeconversion

Does anyone here have an appetite for commercial redevelopment? Once brought back to life, this mixed-use building in Polk County will be a staple in the community for years to come. The first floor features 7000 ft.² of commercial tenant space that can be leased for $15/SF NNN - more if tenants want a custom buildout. Think Foxtail coffee, a title company, an event space, etc… quality tenants that build up the community. The second and third floor feature a total of 19 apartments from studios to two bedrooms, and some communal spaces. Rents will average $1100/mo for Year 1. Property expenses (taxes, insurance, and maintenance for the apartments) will start to add up - let’s use $75,000 as a placeholder. Renovation expense - 1.2 million Carrying costs while under construction for about a year - 50,000 Net income - $321,800 Then you can turn around and sell it at a 7% cap, which translates to a little over $4.5M Not bad. That’s almost double your initial investment. Or you can keep this portfolio builder in your family for generations to come, and have a beautiful story about how you significantly added value to this growing community. This is what real estate is all about! Adding Value. #commercial #polkcounty #redevelopment