Mr. Gray, 33, is the head of investments for Lennar Multifamily Communities, a multifamily investment firm in Charlotte.
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In the following months, Kushner Companies bought another 233,700 multifamily units in similar markets, according to the trade publication Multifamily Executive.
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In the following months, Kushner Companies bought another 1,233 multifamily units in similar markets, according to the trade publication Multifamily Executive.
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Finally, as lawmakers consider housing finance reform, they should ensure that any new system maintains an explicit federal guarantee for multifamily-backed mortgage securities, recognizes the differences between multifamily and single-family finance and retains the successful components of the existing multifamily programs.
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In September, multifamily production declined 38 percent, to 264,000 units.
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The company provides leasing and marketing software for multifamily operators.
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San Francisco, $316.8 million of multifamily housing revenue bonds. HilltopSecurities.
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Mr. Mirontschuk has designed movable islands for several multifamily developments.
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Spending on both single and multifamily housing projects fell in March.
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Doug Bibby is president of the National Multifamily Housing Council (NMHC).
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Multifamily housing bonds represented about 70 percent of the PABs issued.
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There are no multifamily homes or condominium, cooperative or rental complexes.
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And we were able to find a wholly vacant multifamily building.
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With multifamily apartments, you continue to generate increasing income over time.
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Institutional (50.6); multifamily residential (50.5); commercial/industrial (46.9); mixed practice (46.3).
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Multifamily housing is also popping up near highways and main thoroughfares.
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Multifamily loans outstanding increased $35.4 billion or 3.4 percent during this period.
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The real estate investment trusts (REITs) behind multifamily apartments are responding accordingly.
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Rental vacancies, both multifamily and single family, are also near record lows.
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New Jersey Housing and Mortgage Agency, $127 million of multifamily revenue bonds.
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New York City Housing Development Corporation, $124.3 million of multifamily housing bonds.
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Large banks actually shrunk multifamily and nonfarm nonresidential loan balances last quarter.
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Most states prohibit rent control, according to the National Multifamily Housing Council.
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Housing starts rose in August due to strong gains in multifamily construction.
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Only 6.7% of the region's vacant lots are zoned for multifamily housing.
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"The silver lining for new homebuyers is that most of the construction pullback is in the multifamily sector, where economists have been expecting an eventual slowdown given the charge of multifamily units coming out of the recession," McLaughlin said.
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Roughly 300 multifamily homes are situated around the downtown, with about 650 units.
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Rhode Island Housing and Mortgage Finance Corporation, $50 million of multifamily development bonds.
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Authority Multifamily Revenue Bonds 2017 Series A; Outlook stable Source text for Eikon:
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Multifamily homes were priced at $5023,000 to $719,000, with a median of $484,900.
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Plus, the regulations benefitting low income multifamily housing continue to be in place.
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New York City Housing Development Corporation, $425.7 million of multifamily housing revenue bonds.
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The asset types: multifamily, office, residential, industrial, retail, and hospitality are self-explanatory.
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New York City Housing Development Corporation, $1123 million of multifamily housing revenue bonds.
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New York City Housing Development Corporation, $79 million of multifamily housing revenue bonds.
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"I went onto Google and typed in 'multifamily real estate,' enter," he said.
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There was also a 2,830-square-foot multifamily home listed for $1.995 million.
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New York City Housing Development Corporation, $294 million of multifamily housing revenue bonds.
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New Jersey Housing and Mortgage Finance Agency, $170 million of multifamily revenue bonds.
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Still, rental demand continues to be strong for both single- and multifamily units.
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Others point to the boom in multifamily construction, which added heaps of new supply.
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The suspect's two sisters were in the second-floor apartment of a multifamily house.
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"The group is slowing," said Alexander Goldfarb, a multifamily REIT analyst with Sandler O'Neill.
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ImpactAssets is working mostly with boutique multifamily offices and high-end registered investment advisors.
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Multifamily home completions surged 40.4 percent to 473,000 units, the highest since April 1988.
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He also suggested they buy a multifamily house, with a unit for rental income.
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Multifamily properties in Berlin, and Munich and Berlin offices, have seen the biggest widening.
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Construction will likely slow in multifamily, providing countercyclical protection against high vacancies and rents.
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For multifamily homes, the median was $325,000, down from $448,19303 the previous 12 months.
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Fitch projects single-family starts to improve 11.5% as multifamily volume grows approximately 6%.
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Though multifamily residences made of timber are turning up in places like Portland, Ore.
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In 2015, 18 percent of all existing housing units on Long Island were multifamily.
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Mr. Morrissey said that Somers has 5,203 single-family homes and 90 multifamily homes.
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About 70 percent of residents are renters, and many units are in multifamily homes.
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In the absence of CMBS guidance assumptions, Fitch assumed market value declines in line with the assumptions for German multifamily properties for office, retail, industrial and multifamily properties in Austria, Belgium, Finland, Sweden and Switzerland for which Fitch is provided with rental information.
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You see our core margins are about 230 percent right now, very competitive with multifamily.
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She told the Star Tribune that more multifamily buildings in Minnesota are going smoke-free.
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Housing starts for the volatile multifamily segment soared 13.9 percent to a 394,000-unit pace.
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New multifamily starts were up 37 percent annually in August, according to the U.S. Census.
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We're still in the recovery stage in the real estate market, especially for multifamily buildings.
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The Commerce report showed that single-family and multifamily production each registered gains in April.
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Urbandoor has already built relationships with those multifamily owners for the purposes of extended stays.
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REITs generate income from shopping malls, industrial warehouses, multifamily apartment buildings and residential home mortgages.
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Housing starts for the volatile multifamily segment increased 5.0 percent to a 441,000-unit pace.
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On July 6, there were 82 single-family and 12 multifamily dwellings on the market.
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In mid-November, there were 49 single-family and 18 multifamily homes on the market.
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The more concentrated multifamily housing is found in the central and north sections of town.
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The last five or six years have been very healthy in the multifamily apartment sector.
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New York City Housing Development Corporation, $122.9 million of multifamily housing and sustainable neighborhood bonds.
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Sue Ansel, President and CEO, Gables Residential and Chairwoman of the National Multifamily Housing Council.
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As discussions proceed with the administration, FHFA Director Mark Calabria and others on the future of the GSEs, it is imperative that any new structure maintains an explicit federal guarantee, recognizes unique multifamily risk management characteristics and retains successful components of the existing multifamily programs.
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Permits for the construction of multifamily homes fell 0.5 percent to a pace of 414,000 units.
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RESSCO's specialty is multifamily housing, and the company controls nearly 5,000 apartment units across the Midwest.
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Both Fannie Mae and Freddie Mac have long been big players in the multifamily apartment market.
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Construction of multifamily apartments surged over the past five years, but largely in the luxury sector.
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Architecture billings also softened in all regions except the West and in all specializations except multifamily.
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The drop in housing starts was driven entirely by a big swing lower in multifamily construction.
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They were figuring out values, calculating capitalization rates on multifamily properties and scouting out investment opportunities.
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The firm's properties include multifamily housing in New York and single-family rental properties in Phoenix.
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Multifamily and rental properties include a condo conversion in a former high school on Trinity Place.
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The Trump Administration, which is headed by a past multifamily builder, is furthering the Obama thrust.
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The average sales price of 37 single and multifamily houses sold in Morris Park between Feb.
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Edye McCarthy, Greenburgh's assessor, said Irvington contains approximately 1,180 single-family homes and 100 multifamily homes.
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But multifamily housing is still a rarity in Scarsdale, be it rentals, co-ops or condos.
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Starts for the volatile multifamily housing segment rose 1.4 percent to a rate of 356,000 units.
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There are also small, multifamily apartment buildings and an increasing number of new and converted condominiums.
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But the multifamily homes segment made up just over half of housing inventory under construction last month.
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Multifamily construction is now slowing, but there are still thousands of high-end units coming on line.
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Fitch believes DCOM's performance has historically benefitted from rent regulations on multifamily units in New York City.
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Quieter swathes of Journal Square, like Hilltop, offer a mix of homes, along with larger multifamily buildings.
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Jaja Jackson is Airbnb's director of global multifamily partnerships, and is taking the lead on this project.
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The Department of Housing Preservation and Development has a building information portal where multifamily buildings are registered.
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"You would go out and knock on doors and you'd hit a multifamily house," Mr. Connolly said.
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While multifamily construction has been weaker, the market for new single-family homes continues to be robust.
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James J. Timmings, Mount Pleasant's assessor, said Hawthorne has 1,350 single-family homes and 303 multifamily homes.
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We're divided up into several studios, and my studio concentrates on multifamily residential, master planning, hotels, resorts.
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Rhode Island Housing and Mortgage Finance Corporation, $51.9 million of non-alternative minimum tax multifamily development bonds.
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|
Now multifamily buildings are attracting investors, and new businesses are emerging on Springwood Avenue, in the southwest.
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It's 27.5 years for multifamily residential buildings and 39 years for commercial property, like an industrial park.
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Respondents were less encouraged by the multifamily apartment sector, which is just coming off a building boom.
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Though the share of multifamily building permits on Long Island still pales in comparison to other parts of the New York region, "there is definitely greater acceptance for multifamily than there used to be," said Christopher Jones, the senior vice president and chief planner for the Regional Plan Association.
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|
Multifamily debt outstanding rose to $1.14 trillion at the end of last year, up 9.6 percent from 2015.
|
|
It's estimated that over one-third of Americans rent their homes, according to the National Multifamily Housing Council.
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|
REITs typically target office buildings, warehouses, multifamily apartment buildings and other centralized properties that are easy to manage.
|
|
The housing secretary wants to encourage mixed-income, multifamily development as a way of making housing more affordable.
|
|
David Schwartz is CEO, chairman & co-founder of Waterton and chair of the National Multifamily Housing Council (NMHC).
|
|
The units are mostly in multifamily houses and, to a lesser extent, above shops in the business district.
|
|
Fourth, some have sought to raise revenue by significantly extending the 27.5-year depreciation period of multifamily buildings.
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|
Patricia S. Braislin, Kent's assessor, said the town has roughly 1,390 single-family homes and 15 multifamily homes.
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|
But such retrofits are expensive and result in increased taxes, diminishing the availability of multifamily properties for everyone.
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|
His father is based in Milford as an independent property manager of several multifamily buildings in central Massachusetts.
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|
There was also a 2,600-square-foot multifamily for sale for $950,000, as well as five rentals, from a two-bedroom, 1,040-square-foot apartment in an 1890 multifamily building renting for $2,26.503 a month, to a four-bedroom, 2,850-square-foot colonial, built in 2001, for $6,000 a month.
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Housing starts fell sharply in September as builders constructed fewer multifamily units, according to new data released on Wednesday.
|
|
Multifamily permits increased 6900 percent to a rate of 2628,28503, while single-family permits fell 22019 percent to 711,000.
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Multifamily Housing Bonds, the Housing Credit, and the New Markets Tax Credit deserve to be protected throughout tax reform.
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For the past five years, the MV-MLV cushion has been largest for offices and smallest for multifamily properties.
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|
Jessica Peterson was glad that she and her parents got everything they wanted in their multifamily home in Connecticut.
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|
And the supply of multifamily homes sharply decreased as well during the same period, from about 65 to 12.
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|
Fannie Mae and Freddie Mac would be private guarantors, with their multifamily businesses being sold off and operated independently.
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The increase was driven by a 29.3 percent rise in multifamily buildings, a segment that tends to be volatile.
|
|
However, in a multifamily property, if one tenant stops paying, the impact to cash flow is much less severe.
|
|
Now, developers can build new multifamily homes with as many as three units in every one of Minneapolis's neighborhoods.
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|
On the multifamily side, the NAHB is anticipating 417,000 starts in 2016, up about 5 percent from last year.
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Additionally, Congress should protect the Real Estate Investment Trust tax structure that also drives investment into the multifamily sector.
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He says that single family home values are based on comparables, while multifamily are based on net operating income.
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"It's areas that have the land values to support multifamily development but don't want newcomers and more density," Elkind says.
|
|
The new standards require solar photovoltaics on new residential single-family buildings and multifamily buildings up to three stories high.
|
|
Permits for the construction of single-family homes increased 1.5 percent last month, while multifamily building permits advanced 8.0 percent.
|
|
As part of the settlement, Aimco and Airbnb have agreed to meet to discuss opportunities in the multifamily housing industry.
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|
The Southern California company says it uses sustainable construction processes and materials to build prefabricated custom single- and multifamily houses.
|
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Economists often say that single-family and multifamily housing starts are a good indicator of the health of the economy.
|
|
The asset quality track-record is reflective of DCOM's lending niche in smaller, 10-75 unit, rent-stabilized multifamily properties.
|
|
When the project opened in 2014, demand for the units emboldened more multifamily developers to pursue market-rate projects downtown.
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|
Barrett had started a New York multifamily office two years ago, focusing on investments in the public and private markets.
|
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NorthStar Realty invests in healthcare facilities, hotels, multifamily homes and other real estate developments across the United States and internationally.
|
|
SF: One of the designs hybridizes suburban and urban types, as well as the benefits of single and multifamily homes.
|
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The company will invest in single-family and multifamily homes with up to four units, and in townhouses and condominiums.
|
|
To further construction of multifamily units, Minneapolis recently moved to rezone most of the city to eliminate single-family zoning.
|
|
To further construction of multifamily units, Minneapolis recently moved to rezone most of the city to eliminate single-family zoning.
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ANNOUNCES ACQUISITION OF A 255-UNIT MULTIFAMILY COMMUNITY IN THE RICHMOND, VIRGINIA MSA Source text for Eikon: Further company coverage:
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Single-family home permits advanced 1.8 percent in December, while permits for the construction of multifamily homes fell 3.9 percent.
|
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They can preserve and increase funding for programs that address housing affordability, including FHA multifamily loan programs, CDBG and HOME.
|
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Plans call for drawing more people into the shopping district by encouraging multifamily and mixed-use construction in the area.
|
|
Multifamily REITs have bypassed the secured lending market, sticking with unsecured debt because it has helped to enhance their financial flexibility.
|
|
IRET, which owns multifamily, senior housing and medical office properties across the Midwest, has a market value of nearly $1 billion.
|
|
Newly started multifamily construction is less robust than it had been during the last few boom years in the apartment market.
|
|
Single-family permits increased 28503 percent in September to a rate of 22019,000 while multifamily permits rose 16.8 percent to 486,000.
|
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The company's portfolio consists of 78 multifamily residential properties, comprising 24,061 apartment units, located throughout the Southeast and Southwest United States.
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For commercial real estate, loan officers said standards were eased on nonfarm nonresidential loans while they were tightened for multifamily loans.
|
|
Single-family permits edged up 1 percent to a rate of 738,000, while multifamily permits were up 2.5 percent to 415,000.
|
|
The latest read on housing starts showed multifamily construction outpacing single-family, suggesting more confidence in renter demand than buyer demand.
|
|
A relative few outliers aside, the data suggest that Housing Credit development is very much in line with multifamily development broadly.
|
|
President Trump has now offered a series of tax policies which would further tilt the government in favor of multifamily construction.
|
|
Milestone Apartments' portfolio consists of 78 multifamily residential properties, comprising 24,061 apartment units, located throughout the Southeast and Southwest United States.
|
|
A drop in multifamily production, which fell 9.2 percent to a seasonally adjusted annual rate of 2023,000 units, weighed on construction.
|
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There are roughly 800 multifamily homes, 30 condominium and cooperative complexes with more than 1,560 units, and 88 rental apartment buildings.
|
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These might include locating low-income housing projects only in black neighborhoods, or barring multifamily housing from neighborhoods with good schools.
|
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Some outside investors, he noted, are turning multifamily homes into illegal boardinghouses, crowding the community, exacerbating traffic problems and straining resources.
|
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Multifamily apartments will be least likely to be badly impacted, but subsectors like student housing and senior housing are less secure.
|
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Thomas J. Waitkins, Cortlandt's assessor, said Buchanan has 578 single-family homes, 93 multifamily homes and a five-unit condominium complex.
|
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They will hold on to some of their tax deductions like the ones created by investing in low income multifamily housing.
|
|
Meanwhile, multifamily starts, which have been spurred by an increase in rental demand, fell 22019 percent in December to 381,000 units.
|
|
A former Hines executive, Mr. Spiritos is looking to put up wooden multifamily structures outside the city, like in New Haven.
|
|
Run by former hedge-fund manager Bobby Turner, the Turner Multifamily Impact Fund launched in 2015 and raised $264 million in capital.
|
|
Developers broke ground at a rate of 382,000 multifamily homes at the end of 2015, compared with 356,000 units a year earlier.
|
|
To put it in perspective, that is about the same number of new single-family and multifamily housing units built each year.
|
|
Most recently, Kovalcheck was a director at Marcus & Millichap Capital Corp, providing debt financing solutions to multifamily and commercial real estate clients.
|
|
Mr. Liu, 31, manages business development and assets for his family's multifamily residential properties in the Boston area and in San Francisco.
|
|
But one small solution is sitting in plain sight: The many thousands of vacant lots that are already zoned for multifamily development.
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Property type breakdown listed below: --472 retail properties (31%); --281 multifamily properties (5003%); --183 hotel properties (16%); and --110 office properties (11%).
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|
Pressures are already evident in subprime auto lending and credit cards, and pressures in commercial real estate could emerge, particularly in multifamily.
|
|
It is the last third, generally low-income individuals who live in rural or urban multifamily communities, who experience difficulty being counted.
|
|
And so could you build a scale institutional single-family business much like what happened in the multifamily business in the 1990s.
|
|
The National Multifamily Housing Council estimates that regulation on all levels of government compose 32% of the cost of new multiifamily developments.
|
|
But it also gained Urbandoor's relationships with multifamily property owners — a group Airbnb had struggled to persuade to allow short-term rentals.
|
|
A closely watched statewide proposal to relax zoning to allow for more multifamily housing development stalled this year in the California Legislature.
|
|
Multifamily home building is slowing as apartments come on the market, leading to an increase in the rental vacancy rate this year.
|
|
Prices of multifamily residential and industrial commercial real estate (CRE) have risen, while capitalization rates for these segments have reached historical lows.
|
|
Speaking with investors and past customers, John realized there was a need for a venture fund specifically focused on the multifamily rental sector.
|
|
Latch, founded in 2014, is different from the other companies on the list because, unless you're a multifamily landlord, you can't buy it.
|
|
TestFit is another generative design tool that can incorporates zoning, parking, and streets to provide options for builders of multifamily residential real estate.
|
|
That may be a one-month phenomenon, because numbers on multifamily can be swayed dramatically by just a few large-scale apartment developments.
|
|
The company grew total loans 16% in 2015 with much of the growth in the multifamily, single-family residential and commercial businesses spaces.
|
|
Cities and towns would be compensated for any net increases in school costs that result from their approval of multifamily and cluster developments.
|
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The portfolio of 16 multifamily properties, which typically refers to multiple separate housing units within one compound, comprises 3,787 apartments, according to CapitaLand.
|
|
DCOM's primary ratings strength has been the demonstrated ability to execute on its niche broker-channelled multifamily lending while maintaining pristine asset quality.
|
|
It said it helped fund about 152,000 apartment or multifamily dwellings in the first quarter after providing financing to 820,000 units in 2017.
|
|
For over 30 years, the GSEs' multifamily businesses have led the way in apartment-building financing with safe, sound lending across the country.
|
|
I worked in oil and gas for years before discovering multifamily real estate, which isn't a conventional career you learn about in school.
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Typical monthly rents for one- to three-bedroom apartments in multifamily homes and apartment buildings range from $267,2300 to $227,220.50, Mr. Schatz said.
|
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Mr. Tsang, 232, manages a multifamily building in Astoria, Queens, that he owns with his mother, Ailee K. Tsang of Forest Hills, Queens.
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A proposal to exempt loans to limited liability companies, for example, would shield a large chunk of the mortgage lending for multifamily housing.
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|
Upon finding jobs, the workers settled down and began transforming single-family homes in places such as Norwich and Montville into multifamily communities.
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Mr. Tsang, 34, manages a multifamily building in Astoria, Queens, that he owns with his mother, Ailee K. Tsang of Forest Hills, Queens.
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Scott Wiener has proposed a bill that would preempt density restrictions near most transit stations and job clusters, instead allowing more multifamily zoning.
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But as Ryan and Bhave suggest, multifamily-housing starts are growing at their fastest pace since August 1989, which should ease the increases.
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|
The Houston-based company, which develops and manages multifamily apartment communities, has seen an influx of renters since so many homes suffered damage.
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In 22, Mr. Wanger started Wanger OmniWealth L.L.C., a multifamily office advising 22012 clients with $20143 million in assets; he employed 22014 people.
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Bert was designed as a tiny home, but the potential from prefab parts could be multifamily homes, hotels, or developments in a city.
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In fact, multifamily construction is now at a 40-year high; the trouble is, developers are putting up the wrong kinds of buildings.
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|
Buy a multifamily building and sell off the units laterBull calls this a "condo conversion," wherein you buy a multifamily building, rent out the units, andIf you get into a bind and can't afford to stick around, Bull suggests making "affordable but thoughtful upgrades to the property to unlock value" before you sell — think fresh paint, new countertops, and refacing cabinets.9.
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In many instances, Electrify America is targeting locations where owners who live in multifamily dwellings may not have on-site access to a charger.
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We also plan to release three additional reports taking a closer look at the multifamily, HIRO and construction lending segments of the U.S. market.
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"Hip, new multifamily buildings are being built, and those are more likely to be one-bedroom homes," said Skylar Olsen, senior economist at Zillow.
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And while there has been a slight loosening of regulations on mortgages, there has actually been tightening in commercial and multifamily construction, said Richardson.
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Ashdeep Kaur was found after a neighbor tried to use the shared bathroom in the multifamily home, but it was locked, according to ABC7.
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"As soon as everyone thinks about the Fed acting they freak out," said Goldfarb, who is not overly concerned about the fundamentals in multifamily.
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Federal Home Loan Mortgage Corp: * FREDDIE MAC ANNOUNCES PRICING OF $503 MILLION MULTIFAMILY SMALL BALANCE LOAN SECURITIZATION Source text for Eikon: Further company coverage:
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"After strong readings during the summer, multifamily production pulled back in September," said Robert Dietz, chief economist for the National Association of Home Builders.
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Below average trends can be found in New York City, Philadelphia, and Boston, according to Gaurav Mehta, a multifamily REIT analyst at Cantor Fitzgerald.
|
|
A drop in multifamily production, which fell 85033 percent to a seasonally adjusted annual rate of 337,000 units, weighed on construction: http://bit.ly/2rcJpyQ.
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Residential building permits slumped 8.4 percent due to a 20.9 percent drop in construction plans for multifamily buildings, which include apartments, condominiums and townhouses.
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Total building permits were up 7.3 percent in the first quarter from a year earlier, with gains for both single-family and multifamily residences.
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The benefits that flow to housing consumers provided by GSEs, both single and multifamily, have long been a cornerstone of American real-estate finance.
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Brookfield has a much more diversified real estate portfolio that includes office properties, retail boxes, multifamily housing units, student housing and self-storage centers.
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The winners were recognized across four categories: one- and two-family custom residences; one- and two-family production homes; multifamily housing; and specialized housing.
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The bonds are most commonly used for the construction of affordable multifamily housing, but also for hospitals and infrastructure projects, like roads and bridges.
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For multifamily houses, the median was $2531,13, up from $230,244 last year, and for condominiums, the median was $255,229.50, down from $3223,2322 last year.
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But except for 170 East End Avenue, a condominium on the Upper East Side, Mr. Marino doesn't have many multifamily projects in New York.
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Multifamily homes are more common in the center of Perth Amboy, Mr. Caba said, and are frequently bought by outside investors who rent them.
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Critics said the new regulations could also stunt real estate tax revenue for the city because of an anticipated decline in multifamily property values.
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One of the factors protecting multifamily properties from higher rates of vacancy is the countervailing effect that slowing construction will have on the industry.
|
|
Transportation hubs in the inner suburbs of cities in the United States are often surrounded by multifamily housing of only five or six stories.
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I only buy certain types of properties, generally multifamily ones in upscale locations that provide consistent cash flow and great potential for future appreciation.
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Multifamily construction in millennial counties, which accounts for 80% of all apartment activity nationwide, is picking up but still slower than the national pace.
|
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Zoning precludes a lot of the mixed-use (stores, restaurants, multifamily housing) that is required, as does Nimbyism (the "not in my backyard" syndrome).
|
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He is accused of setting fire to Rabbi Max's multifamily home in Midwood early Thursday morning, a blaze that hospitalized at least 13 people.
|
|
Sales of multifamily homes or apartments and condos, largely rental properties, are expected to stay relatively flat next year, NAHB's Chief Economist Robert Dietz said.
|
|
The resilient institutions were more selective in their underwriting and reported modest growth into the most recent downturn, or lent against rent-regulated multifamily buildings.
|
|
But Craig Adelman of the Low Income Investment Fund says it can be part of a network of strategies, including building more multifamily affordable housing.
|
|
The rise in multifamily loans helped propel the growth in commercial real estate mortgages by the largest amount since 2000, the Mortgage Bankers Association said.
|
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According to an Austin code department spokesperson, the office, located in a building approved for use as a multifamily residential property, was a code violation.
|
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The company could also raise capital through the sale of its subordinated JV interests, primarily legacy positions inherited through its acquisition of multifamily developer Roseland.
|
|
Single-family housing starts rose 21625 percent to a seasonally adjusted annual rate of 2900,220006 units while multifamily starts increased 2202 percent to 2628,28500 units.
|
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It is a violation of the state's multiple dwelling law to rent out an entire apartment in a multifamily building for fewer than 30 days.
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Mr. Turco, 33, is an assistant vice president for residential multifamily development at Sares Regis Group, a real estate development firm in San Mateo, Calif.
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Mr. Turco, 5493, is an assistant vice president for residential multifamily development at Sares Regis Group, a real estate development firm in San Mateo, Calif.
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Ben Carson, the secretary of the Department of Housing and Urban Development, wants to spur construction of mixed-income, multifamily housing all over the country.
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Developers and landlords have struck a different note, arguing that the changes will freeze investment in multifamily buildings and hurt tenants in the long run.
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With an eye toward neighborliness, New Jersey plans to ban the use of marijuana in large multifamily homes, high-density apartment buildings and public housing.
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Size: 22,2389 square feet Price per square foot: $2184 Indoors: This home was a multifamily residence before the previous owners restored its single-family configuration.
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There were also three two-bedroom condominiums on the market, priced at $185,000, $191,000 and $197,500, and a four-bedroom multifamily house listed for $183,900.
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There were eight multifamily homes for sale, from a 2,53-square-foot, four-bedroom for $204,361 to a 5,300-square-foot, nine-bedroom for $750,000.
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According to its developer, the 5-million-square-foot project will have "upscale multifamily, hospitality, office, retail and restaurant" uses, and a 3.5-acre park.
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But the PIER program, which is multidisciplinary and relies heavily on multifamily group sessions, is likely to be the most comprehensive and perhaps most successful.
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Kathy Dorfman, owner of Greenkat Realty in Edgewater, said developers maximized their profits by building bigger, multifamily structures on the decreasing number of available lots.
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Unlike on other multifamily projects, a missed deadline for these developers could mean a missed opportunity to fully rent out a building for a semester.
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Paul Karger is co-founder and managing partner of TwinFocus Capital, a boutique multifamily office for global ultra-high-net-worth families, entrepreneurs and professional investors.
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Wes Karger is co-founder and managing partner of TwinFocus Capital, a boutique multifamily office for global ultra-high-net-worth families, entrepreneurs and professional investors.
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The Turner Multifamily Impact Fund, a private-equity style vehicle focused on preserving affordable housing, has lately drawn financial support from NBA All Star Chris Paul.
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One of the nation's largest public builders, Lennar has hedged its housing bets during the recovery, investing in multifamily rental buildings and single-family rental homes.
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Residential permits fell 2.8 percent as a 6.0 percent drop in multifamily building permits offset a 0.4 percent increase in plans to build single-family homes.
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"The adjustment is based on increased estimates of the overall size of the 2016 multifamily finance market," the Federal Housing Finance Agency said in a statement.
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Multifamily lending has been the main driver within the CRE category, expanding faster than any other major bank loan class and posting a CAGR of 10.7%.
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In order to make fast charging stations more affordable for disadvantaged communities, PG&E is proposing prioritizing placements at workplaces and multifamily housing, including apartment buildings.
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Eighty percent are units in multifamily dwellings, with an average price of $2500,2011, according to Top Mexico's Riviera Maya Market Preconstruction Report for November and December.
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But multi-family housing makes up to half of Airbnb listings in some major cities, according to Airbnb director of global multifamily housing partnerships Jaja Jackson. .
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"Multifamily owners and operators are increasingly creating digital, service-based amenities to give their renters back a commodity we have never needed more: time," Freedman said.
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The proposal, which overcame restrictions on multifamily housing by including 21 affordable units, was resoundingly rejected by the local planning commission but repeatedly upheld in court.
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"The change towards multifamily could be the initial signs that affordability is starting to impact the mix of construction," noted Tendayi Kapfidze, chief economist at LendingTree.
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Rentals, mainly in multifamily houses, are about $1,400 a month for one-bedrooms, $1,153 for two-bedroomsand $2,000 and up for three-bedrooms, Mr. Carollo said.
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While making it less desirable for households to buy a different single family home, the tax proposals maintain the benefits of building and owning multifamily dwellings.
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"Multifamily as well as parts of the residential markets are seeing some levels of overbuild and overpricing" in cities like Seattle and San Francisco, Freedman said.
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The multifamily segment of the market continues to be supported by strong demand for rental accommodation as some Americans shun homeownership after the housing market collapse.
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While that's better, it's still down a bit from earlier forecasts of third-quarter growth, amid weakness in business spending and construction of new multifamily housing.
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The new 103 apartments within the building's top three stories will be the first exclusively market-rate multifamily housing built in Fall River for a generation.
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"Our strong quarterly results reflect solid fundamentals in our single-family and multifamily businesses," Fannie Mae president and chief executive Timothy Mayopoulos said in a statement.
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Vera has been piloted in office, multifamily buildings, and retail spaces, and a trial is in the works with an internet-of-things provider as well.
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It includes similar protections for those with multifamily federal mortgage loans, allowing them to receive a 2324-day forbearance and up to two 3503-day extensions.
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On the other hand, relaxing regulatory constraints to allow for more multifamily and mobile homes would itself be a way to create more good-paying jobs.
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A study by NMHC and NAHB found that regulations imposed by all levels of government account for an average of 85033 percent of multifamily development costs.
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Multifamily looks to be the strongest market, and will likely perform better than it did during the Great Recession, though student and senior housing are exceptions.
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Industrial real estate, sparked by the demand for warehouses as online shopping booms, was the top choice of property types, followed by multifamily apartments, AFIRE said.
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At January's National Multifamily Housing Conference in Orlando, I had the chance to talk with hundreds of industry experts at all levels about outlook for 2018.
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There were 13 multifamily homes for sale, from $000,000 to $600,000; 24 cooperative apartments priced from $39,000 to $245,000; and four condominiums, from $269,18683 to $425,000.
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The median price for a multifamily house was $518,000 this year, up from $395,000 last year, and the median monthly rental was $2,800, up from $2,3833.
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Over half of the affordable apartments that are built each year rely on financing from multifamily Housing Bonds, which are a type of private activity bond.
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It used median market rent data from Yardi Matrix, which researches and reports on multifamily properties except those covered by affordable housing programs or government subsidies.
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In larger, multifamily residences in all boroughs, building managers must agree to have bins — and few do, which keeps the numbers low in the densest areas.
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In 2017, Frosh launched an investigation after media reports exposed allegedly coercive tactics and inadequate maintenance in multifamily housing developments run by Westminster Management or related entities.
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"Having [knowledge] gaps isn't surprising but the extent to which people are unaware is definitely surprising," said Steve Hein, senior vice president of Multifamily Housing at Assurant.
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Hospitals, commercial office buildings and multifamily residences were eventually added, and in late December, Mayor Bill de Blasio announced that the initiative would expand to include hotels.
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For instance, Fitch's SSNOI growth estimates for office and multifamily incorporate changing supply because supply appears to be relatively more strongly correlated to these sectors' SSNOI growth.
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OPERATING FUNDAMENTALS SLOWING DUE TO NEW SUPPLY Fitch expects multifamily REITs will report another year of mid-single-digit growth in same-store net operating income (SSNOI).
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Now an estimated total of 28503 million HUD-assisted homes, including Public Housing, Housing Choice Voucher, and Multifamily programs, will have access to low-cost Internet service.
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The company said its board had initiated a CEO succession plan and that it had identified David Brickman, head of Freddie Mac Multifamily, as the internal candidate.
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GuestOf is bridging real estate's tech gap with a keyless, easily retrofitted smartphone entry solution for multifamily apartments – in a price model they're actually comfortable with. Cyph
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Fitch views the company's management team as amongst the strongest in the multifamily REIT sector based on its track record of superior asset management and capital allocation.
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Fannie Mae and Freddie Mac were ordered to make more funds available to the multifamily industry providing more funds to real estate developers who build rental units.
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"Multifamily production bounced back after an unusually weak reading last month while single-family starts exhibited unusually strong growth as well," said Robert Dietz, NAHB's chief economist.
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Mr. Meirov said a two-bedroom apartment in a multifamily home rents today for about $2,000 a month, $500 less than a comparable place in Forest Hills.
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After closing on a multifamily property in Bushwick, Brooklyn, for his client, Kevin Chang, earlier this year, Christophe Tedjasukmana, a Citi Habitats agent, decided to get creative.
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Harold Girdlestone, Bedford's sole assessor, said that in the 453-square-mile central hamlet there are approximately 479 single-family homes, 21 condominiums and 70 multifamily homes.
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Increasing density by replacing single-family homes with multifamily ones would be a boon to our efforts to address climate change, and it would help with affordability.
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The total number of single-family rental homes jumped 38% from 2010 to 2016, compared with just a 3% rise in multifamily units, according to Capital Economics.
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Multifamily housing construction, which has outperformed in recent years with growing demand for rentals, is expected to reach 420,000 units this year, the highest level since 1987.
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While huge single-family homes like this four-bedroom 3,400 square-foot home priced at $468,3003 dominate the market, there are some large multifamily buildings going up, too.
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On commercial real estate, "significant net fractions of banks reported tightening standards for construction and land development loans and loans secured by multifamily residential properties," the survey said.
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Those numbers are totals, based on both single-family homes, which are desperately needed, and multifamily apartments, which have seen a construction boom over the last three years.
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Canadian housing starts jumped in March to their highest level in nearly a decade on a sharp rise for multifamily buildings, defying expectations of a slowdown, data showed.
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Drilling down into specific property types, the outlook is optimistic for multifamily and office and less so for industrial, with retail yielding more of a mixed bag. 'U.
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Single-family housing starts rose 21625 percent to a seasonally adjusted annual rate of 2900,220006 units in June, while multifamily production ticked up 2202 percent to 2628,28500 units.
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Home prices have broadly recovered, the number of foreclosures and underwater borrowers has steadily fallen, and the multifamily market continues to address the increased demand for rental housing.
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The $21.5,000 figure is for an apartment of modest dimensions in a multifamily building, with standard layouts, bargain finishes and few of the amenities of for-profit development.
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Multifamily housing was up 5 percent to a seasonally adjusted annual rate of 441,000 units in July, while single-family production edged up 21625 percent to 2900,220006 units.
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Not too long ago, for example, regulators issued guidance to banks to be more cautious in their lending on multifamily projects, as there was growing evidence of overbuilding.
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Despite current weakness in the company's top revenue generating markets, EQR has maintained average SSNOI growth roughly in-line with the multifamily universe's peers since 1999 at 2.9%.
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The government reported Tuesday that housing starts increased in November, but the change was driven by a rise in multifamily construction, which tends to vary month to month.
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She introduced him to a real estate agent who found him a convertible two-bedroom apartment in a brick multifamily house on Hone Avenue, for $1,150 a month.
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The median price for a multifamily house was $285,000, up from $276,975 in 2018; for condominiums, the median price was $189,000 in 13, up from $181,250 in 2018.
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Based in Denver, Colorado, Black Creek Group has sponsored 18 real estate investment platforms and operated more than 1,300 properties across sectors including office, industrial, retail and multifamily.
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"New construction last year would have been even higher had it not been for a sharp slowdown in multifamily permits and starts," said Ralph McLaughlin, Trulia's chief economist.
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"While we applaud new multifamily construction in helping moderate rents over the past few years, we see the slowdown as a healthy retreat that will continue this year."
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The red brick, multifamily house on a tree-lined street appeared to be used as a baby day care facility, though state officials said it was not licensed.
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The report also suggests that Fannie and Freddie might pull out of multifamily housing entirely, or perhaps refuse to finance loans in jurisdictions that adopt rent control laws.
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Restrictive zoning laws and higher land costs are pushing builders to focus on producing luxury single-family homes (rather than economical multifamily projects) to remain profitable, Goodman says.
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To make San Francisco more affordable, the city will need to alter its zoning laws to allow more affordable and multifamily units to be built in residential neighborhoods.
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The charging stations will be located at roughly 500 sites, with around 75 percent of them at workplaces and the rest at multifamily dwellings such as apartment buildings.
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"Commercial and multifamily mortgage debt outstanding grew roughly in line with property values in 2016," Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research, said in a statement.
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At the time, MetCap had a portfolio of $303 million, managing apartment buildings all across Canada, and it still claims to be the largest manager of multifamily Toronto apartments.
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In addition, the rents for single family are growing fast at 4.5% annually now compared with 3% rent growth for multifamily apartments, according to John Burns Real Estate Consulting.
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Cohn has accepted gigs at the National Multifamily Housing Council, a Miami conference for Context Capital Partners, and a corporate event at the World Economic Forum in Davos, Switzerland.
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"We're willing to look at the entire package — it's a big package," said David Schwartz, an officer at the National Multifamily Housing Council and co-founder of Waterton Associates.
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Mid-America Apartment, based in Memphis, Tennessee, owns all or part of 254 multifamily properties and 79,496 units in 15 states, according to its website and Thomson Reuters data.
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KEY RATING DRIVERS Fitch's ratings for Essex consider the company's strong multifamily portfolio position within key densely populated and supply-constrained markets in Northern and Southern California and Seattle.
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TICC's risk from its collateralized loan obligation equity portfolio has increased, while Prospect Capital has a lot of exposure to multifamily housing loans and online consumer lending, Davis said.
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In 2010, the Obama Administration issued a joint policy statement written by the Treasury Department and HUD which de-emphasized homeownership in favor of multifamily or rental apartment living.
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According to its developer, De La Vega Development, the 5-million-square-foot project will have "upscale multifamily, hospitality, office, retail and restaurant" spaces, and a 3.5-acre park.
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Data from Elmsford's building department indicated that the village contains roughly 750 single-family houses and 200 multifamily houses, mostly modest colonials, capes, Tudors and ranches on small lots.
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The slightly shabbier north has more multifamily buildings, while single-family properties are more common in the south, which is also where the city's three historic districts are found.
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There's Herbert Samuel 103, a multifamily townhouse by the architect Ilan Pivko, consisting of three duplexes and one triplex, topped with an infinity pool and offered at $45 million.
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Buyer: Allied Xvii Seller: 73 St. Marks TI Brokers: Corey Isdaner, Peter Von Der Ahe, Joe Koicim and David Lloyd, New York Multifamily Team at Marcus & Millichap $27/SQ.
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But in many parts of the country, Americans have a choice, and more of them prefer cooking with gas, according to recent data from the National Multifamily Housing Council.
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The housing stock is almost as diverse as the population — a mix of late 19th-century neo-Gothic farmhouses, 1920s bungalows, midcentury ranch houses and contemporary multifamily apartment complexes.
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While the majority of both single- and multifamily home construction is in millennial-dense counties, it actually lags the rest of the nation when it comes to meeting demand.
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On Wednesday, data showed housing starts rose 9.2 percent in August as groundbreaking on multifamily units soared, but permits were off 5.7 percent, the biggest decline since February 2017.
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The fund is backed by North American real estate investment trusts and will be investing in start-ups that seek to disrupt the multifamily and rental unit real estate markets.
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"Bottom line, the bizarre plunge in multifamily starts is inexplicable but the rise in permits says it was an outlier," said Peter Boockvar, chief market analyst with the Lindsey Group.
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The $4 billion deal is expected to be announced Monday and would create the largest publicly traded multifamily apartment real estate investment trust by number of units, the source said.
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A survey by the National Multifamily Housing Council and Kingsley Associates found that 49% of renters under the age of 25 are interested in generating extra income through home-sharing.
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Fitch will assess ESS's willingness to dial-back development risk in the face of strong multifamily operating fundamentals as evidence of the company's commitment to maintaining a conservative balance sheet.
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The deal, first reported by the Wall Street Journal, would combine companies buoyed by the rising demand for rental properties, creating an entity with 317 properties and 105,000 multifamily units.
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"Our view is the elimination of interest deductibility is detrimental to our industry," said Bob DeWitt, a coalition member and chief executive of Boston-based GID, a multifamily housing developer.
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CLI has also strengthened its multifamily rental residential platform starting new, predominantly wholly-owned developments and exiting and/or replacing complex subordinate JV interests with "heads up" participating partnership interests.
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Jeff Walker, a principal at Square One Homes in Renton, Wa., which builds multifamily homes in Seattle, said he had been using hard-money lenders for more than a decade.
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Both Lisa and Karen have been studying the impact on technology on their respective businesses very thoroughly and have loads of hands-on operational experience in office, multifamily, and hospitality.
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Some neighbors expressed fears that multifamily properties or low-income housing would replace the old homes, but zoning and market forces would most likely curb any out-of-context construction.
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ZURICH (Reuters) - Varia US Properties AG, a real estate company which invests in U.S. multifamily housing, on Tuesday announced plans for an initial public offering on the Swiss SIX exchange.
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John Ford, Redding's assessor, said there are 3,025 single-family homes, as well as 45 multifamily homes, two small condominium complexes and a luxury senior living community with 332 apartments.
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Patricia Braislin, Sharon's assessor, said there are 1,457 single-family homes, 14 multifamily homes, 30 condominiums in three complexes, 13 rental apartments in one building and 393 affordable-housing units.
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Unsurprisingly, retail and hospitality assets will likely see the worst of it, but some niche parts of the multifamily segment, like student and senior housing, could also be at risk.
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This is better than multifamily fared in the last recession, because of a pullback in new-construction (more on that in the next slide) and multifamily's strong performance since 2010.
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Finally, as we look ahead to a reformed tax system, we must never forget lessons learned from the Tax Reform Act of 1986 that devastated the multifamily industry for years.
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AvalonBay – The real estate investment trust was downgraded to "neutral" from "buy" at Goldman Sachs, which cites slowing growth in funds from operations for the developer of multifamily housing communities.
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That study, which examined more than 800 newly built multifamily buildings in a dozen major American cities, including New York, found that an influx of market-rate units improved affordability.
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"We are very cautious, even now with the market we don't feel very comfortable," said a survey respondent who is a managing partner at a multifamily office in North America.
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But unlike in the multifamily space, single-family rental companies have the advantage of being able to move with the housing cycles, profiting both from their income and their assets.
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U.S. homebuilding fell in February, pulled down by a sharp decline in the construction of multifamily housing units, and could continue to weaken as the coronavirus pandemic disrupts economic activity.
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This is what happened in Michigan, where the Ann Arbor Housing Commission has committed to make more than 400 units of their affordable multifamily housing, including Baker Commons, more energy-efficient.
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Covering both public and multifamily private housing under several programs, the US Department of Housing and Urban Development offers funds to housing agencies and building owners to update low-income housing.
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DERIVATION SUMMARY MAA's 'BBB+' rating reflects the company's ownership of multifamily assets, which Fitch views to be the most financeable amongst commercial real estate asset classes, low leverage and adequate liquidity.
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The exchange recently brought on Snap Inc Chairman Michael Lynton as a board member, and has backing from Iconiq Capital, the multifamily investment adviser used by Facebook Inc CEO Mark Zuckerberg.
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Despite an expectation of lower than peer loan losses, Fitch notes that PNC has grown C&I and multifamily loans at a rate higher than peer over the past twelve months.
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TestFit's primary users are actually developers of multifamily, and the product is meant to narrow down their options before they bring in an architect to actually flesh out the full design.
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In the mid-2000s, the company began to sell off the more than 25,000 multifamily rental units it owned, culminating in a 2007 sale of nearly 173,000 units for $1.9 billion.
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Data showed U.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by weakness in the multifamily home segment.
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On average, government regulations account for nearly 25 percent of the price of building a single-family home and more than 30 percent of the cost of a typical multifamily development.
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But besides rates, Heinel said investors could also win in this asset class if the economy continues to expand and benefit properties like warehouses, class A office space, and multifamily housing.
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ScentAir, the company behind the fragrances for 21 West End and Westin's White Tea, says multifamily properties have been the largest growing segment of its business for the last three years.
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" John Burns, a California real estate investment consultant, said that he expected the multifamily shopping trend to continue, particularly for anyone born during the 234s, which he calls "the foreclosure generation.
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That year, the city passed the Adaptive Reuse Ordinance, making it easier for developers to convert old buildings into multifamily or creative spaces, including a notable number of Beaux-Arts towers.
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Even though San Francisco has added multifamily housing, single-family housing supply has actually declined — so demand continues to swell, according to a trend report by Compass, a real estate group.
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Multifamily looks to be the safest and strongest asset class, with vacancies peaking this year at only 6.6% and with rents only falling by 2.8% this year and 3.9% next year.
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While many blocks are dominated by the kind of stock that Ms. Leahy calls home — low-rise rowhouses in Italianate and Queen Anne styles, large new multifamily buildings are also materializing.
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In the mid-2000s, the company began to sell off the more than 25,000 multifamily rental units it owned, culminating in a 2007 sale of nearly 17,173 units for $1.9 billion.
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"Most homeowners wouldn't even feel it," Glaeser says, pointing out further that encouraging homeownership typically means moving people from multifamily buildings to single-family homes, which increases traffic congestion and pollution.
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The first U.S. stop for the Apple counterfeits was Brooklyn's Borough Park neighborhood, a quiet section of single and multifamily homes near the elevated D Train subway above New Utrecht Avenue.
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The City Council rewrote the code to stipulate that any multifamily buildings vacant for more than 180 days revert automatically to single-family status, reducing the neglect created by absentee landlords.
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The City Council rewrote the code to stipulate that any multifamily buildings vacant for more than 180 days revert automatically to single-family status, reducing the neglect created by absentee landlords.
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While most REITs tend to eschew property type diversification, AAT has aggregated a portfolio of retail, office, multifamily and mixed-use assets in markets that have historically demonstrated strong property-level fundamentals.
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In a separate release, Statscan said the value of Canadian building permits declined by an unexpected 3.7% in June to C$8.01 billion ($6.06 billion) as multifamily and institutional permit values dropped.
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The company's portfolio of 59 properties has retail, office, multifamily and hotel assets throughout the U.S., [and] is known for its six master-planned communities, including Summerlin in Las Vegas, via Bloomberg.
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In a separate report, the Commerce Department said housing starts dropped 2.5 percent to a seasonally adjusted annual pace of 1.15 million units as groundbreaking on both single- and multifamily projects fell.
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While most REITs tend to eschew property type diversification, AAT has aggregated a portfolio of retail, office, multifamily and mixed use assets in markets that have historically demonstrated strong property-level fundamentals.
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Over time, Fitch believes UMPQ's credit metrics will perform somewhat better than peer averages due to the company's strong underwriting track record in its residential mortgage, multifamily and commercial real estate portfolios.
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Once you have decided where you will be looking for a home, it is important to find a broker who knows the area well and is familiar with the multifamily market there.
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Gerry Iagallo, the village's assessor, said there are 1,149 single-family homes and 25 multifamily homes, as well as approximately 800 cooperative apartments in 26 complexes and 216 condominiums in five complexes.
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BUSINESS An article on Wednesday about incentives offered to developers to incorporate affordable housing into mixed-use projects misstated the nature of an effort in Minneapolis to encourage construction of multifamily housing.
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On Tuesday, Amazon said its Alexa Fund invested in Plant Prefab, a Southern California company that says it uses sustainable construction processes and materials to build prefabricated custom single- and multifamily houses.
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Homes under 1,800 square feet made up only 353% of the new housing stock — 10 percentage points less than two decades ago — and construction of multifamily condos has been moribund since the recession.
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U.S. housing starts rose more than expected in April as builders ramped up the construction of single and multifamily homes, supporting views that the economy was regaining steam early in the second quarter.
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These commercial investment opportunities in multifamily, retail, industrial, and office properties have historically been limited to large institutions, and RealtyShares has been able to break down many of the barriers investors have faced.
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San Francisco rules don't allow multifamily housing in huge swaths of the city, though newly elected mayor London Breed has said she plans to make new home construction a focus of her tenure.
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The investigation published by NBC News in November examining more widespread shortfalls by HUD found that more than 85033,000 out of the agency's roughly 28,000 subsidized multifamily properties failed their most recent inspection.
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Joining the Airbnb family will help us make good on our goals and expand our work with multifamily and corporate housing partners to bring even more great places to stay to Airbnb travelers.
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"New household formations are upping the demand for rental housing, which in turn is spurring the growth of multifamily production," said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.
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The company will remain commercial-loan focused with C&I loans making up around one-fourth of the loan book, and CRE, inclusive of owner-occupied and multifamily, making up just under half.
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Mr. Amory, 29, who goes by Minot, is a partner in MVS Global Partners, a multifamily office and investment firm based in New York that focuses on hedge funds and real estate funds.
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WASHINGTON (Reuters) - U.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment.
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Rentals can run about $2,23.50 a month for a two-bedroom apartment, or $2,500 to $2,23.50 for a three-bedroom space in a multifamily house, said Mr. Ortega of the Garabedian Realty Group.
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The red brick, multifamily house on a tree-lined street in the Flushing area of Queens appeared to be used as a day care center, though state officials said it was not licensed.
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The U.S. will need 22019 million new apartments by 2030 just to keep up with demand based on research by Hoyt Advisory Services, the National Multifamily Housing Council and the National Apartment Association.
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Now, RET has partnered with leading multifamily owners to help identify innovative startups that can help the LPs better run their portfolios, which account for nearly a million units across the country in aggregate.
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"We understand that we have two customers — the multifamily developers and the business traveler — and by prioritizing both we've been able to secure A+ properties and deliver a top-rated guest experience," Lucas said.
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Carson wrote in a 2015 Washington Times op-ed that the requirement would heap pressure on suburbs to abolish zoning rules that keep low-income apartment complexes from being built by limiting multifamily housing.
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"Bottom line, the single-family figures confirm again the slowdown in the pace of transactions while multifamily reflects the still solid demand for rentals," said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
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Rental demand has been fueling most of the construction activity, but multifamily housing starts are starting to slow, as most of the activity was in higher-priced, urban rentals, where supply is now high.
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The median price for multifamily townhouses rose about 16 percent, to almost $2.85 million from $6973 million; the median for single-family townhouses increased by about 2.5 percent, to $2.56 million from $2.5 million.
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U.S. homebuilding tumbled to a more than two-year low in December as construction of both single and multifamily housing declined, the latest sign that the economy had lost momentum in the fourth quarter.
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"A moderate net fraction of banks reported tightening standards for construction and land development loans and loans secured by multifamily residential properties" in commercial real estate, the U.S. central bank said in its survey.
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"It would appear from our new survey that renters today feel better about their finances, like where they are living, and view renting favorably," said David Brickman, executive vice president of Freddie Mac Multifamily.
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Starwood Capital's funds have invested in approximately 22008,20153 multifamily/condo units, 22015,22013 hotels, 22010 million square feet of office properties, 53 million square feet of retail and 50,000 lots of land in residential subdivisions.
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The inauguration of President Trump dampened the market for the sale of tax credits on which the project is reliant, so investors have not decided whether it is profitable to continue the multifamily project.
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And because they bought into a multifamily community, they will not have to worry about landscaping or snow removal, and will be able to use the community gym, swimming pool, dog park and clubhouse.
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In 2015, the share of multifamily building permits was 25 percent, the highest since 2012 but far below the 57 percent in suburbs north of New York City and the 66 percent in Connecticut.
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It was founded in the early 1643s as a semirural outpost of the Satmar sect in Brooklyn, and has grown rapidly, creating the need for multifamily housing and more land to build that housing.
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The ultra-wealthy, said Laurel Baker, the chief executive of the Palm Beach Chamber of Commerce, often knock down apartments and multifamily buildings and replace them with single-family homes, often very large ones.
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Mr. Stein, 29, is a founder of Luxstone Partners, a real estate company that owns and operates mixed-use and multifamily properties in the New York towns of Mount Vernon, Tarrytown and Sleepy Hollow.
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Data: U.S. Bureau of the Census Why it matters: Construction of multifamily apartment buildings has long-since surpassed its pre-recession highs, but construction of single family homes remains at levels consistent with previous recessions.
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Kim Betancourt, director of economics and multifamily market research with Fannie Mae, said that international investors looking to sidestep U.K. and EU volatility may aim to hedge against bets by investing in the United States.
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U.S. data for October showed consumer prices recorded their biggest lift in six months in October and housing starts surged to a more than nine-year high, helped by both single family and multifamily homes.
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While its business financing single-family homes edged up a modest 3023 percent in the first quarter, Freddie's portfolio to guarantee apartment or multifamily loans grew 30 percent from a year ago to $213 billion.
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However, the House bill would have a devastating impact on low-income families – it would repeal Private Activity Bonds, including multifamily Housing Bonds, which are critical to sustaining the current level of Housing Credit financing.
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"Overly burdensome land-use restrictions — like minimum lot sizes, off-street parking requirements, height limits, prohibitions on multifamily housing, or lengthy permitting processes — can instead artificially reduce competition by acting as supply constraints," Furman contends.
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But about a decade ago, the New Jersey-based company began expanding into multifamily projects with the installation of sophisticated smart-home systems in Walker Tower, the Chelsea condo, and has become an industry leader.
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The F.H.F.A. ordered Fannie and Freddie to offer multifamily property owners a break on mortgage payments if the landlords hold off on evicting renters who have lost a job or income because of government shutdowns.
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Defined by six north-south thoroughfares, the grid-structured landscape is dominated by multifamily houses, interrupted by older midsize apartment buildings, newer condominium developments, a few high-rise towers and the rare single-family house.
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He is a son of Nancy E. Atwell and Timothy A. Dowd of Takoma Park, Md. The groom's mother is a vice president for multifamily lending at Fannie Mae, the federal mortgage company, in Washington.
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For a century, the city's zoning rules prevented builders from erecting multifamily homes or apartment buildings in many neighborhoods, in no small part to keep racial minorities out of what were almost exclusively white neighborhoods.
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Donna Otlowski, Stratford's assessor, said the town has 12,959 single-family homes and 1,045 multifamily homes, plus 2,709 condominiums in 32 complexes, 423 cooperative apartments in two complexes and 506 rental apartments in eight buildings.
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Like other seasoned landlords, she knew who owned which multifamily house, which church, which bar; knew the neighborhood's vicissitudes of life, its shades and moods; knew which blocks were drug-soaked and which were quiet.
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Construction of multifamily units is down slightly over last year, but the cranes are still swinging and the jackhammers still jacking: By July of this year, the city had issued permits for 220,240 apartment units.
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"As opposed to building something that feels like you are living in Williamsburg, our customers are people who love the suburbs and want to live that lifestyle in a multifamily rental setting," Mr. Rechler said.
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As Clark Ziegler and Christopher Oddleifson of the Massachusetts Housing Partnership describe it: The bill would require that every city and town plan for multifamily housing and designate areas where it is allowed as-of-right.
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After taking a breather in 2018, due to new supply on the market, rents for both single-family homes and multifamily apartments are now rising at the fastest pace in nearly a year, according to Zillow.
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Finally, material loosening of rent-regulations in the New York area could be a negative rating driver for the institution, since rent regulations help maintain stable cash flows and valuations for multifamily properties in New York.
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A separate report from Statistics Canada showed the value of Canadian building permits fell more than expected in August, the second straight monthly decrease, on lower construction intentions for multifamily homes as well as industrial facilities.
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In a separate report, the Commerce Department said housing starts increased 20.7 percent, to a seasonally adjusted annual pace of 20.3 million units last month as builders ramped up the construction of single- and multifamily homes.
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As a result, it artificially skews the real estate market toward utilizing more space for large, single-family homes, and less for multifamily rental housing of the kind needed by the working and lower-middle class.
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UMPQ has solid underwriting standards, particularly in its residential mortgage, multifamily, and non-owner and owner occupied CRE portfolio, evidenced by the low net charge-off (NCO) rates in these portfolios through the past credit cycle.
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The new multifamily loan purchase caps for the two government-sponsored enterprises will be $100 billion each for a total of $200 billion for the five-quarter period through the final quarter of 2020, FHFA said.
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More upscale examples were a two-bedroom, two-bathroom apartment at a newly converted condo, the Leo, listed for $790,000, and a former multifamily Queen Anne house in need of renovation that was asking $1.4 million.
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Llargués said the agency was reviewing a request from Puerto Rico's government to extend its "direct lease" program -- which provides temporary housing in apartments or multifamily homes directly to survivors -- to displaced families on the mainland.
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Announces acquisition of a 296-unit multifamily community in tampa, Florida * Preferred apartment communities inc says financed acquisition by assuming existing first mortgage loan from new york life insurance company Source text for Eikon: Further company coverage:
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U.S. homebuilding rose in October amid a rebound in multifamily housing projects, but construction of single-family homes fell for a second straight month, suggesting the housing market remained mired in weakness as mortgage rates march higher.
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What it means: Millennials have changed "the composition of housing starts and the housing market, resulting in the construction of more multifamily dwellings (apartments) than in past cyclical expansions," Joe Brusuelas, chief economist for RSM, tells Axios.
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U.S. housing starts surged to a more than nine-year high in October as builders ramped up construction of both single and multifamily homes, offering hope that housing will contribute to economic growth in the fourth quarter.
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For commercial real estate construction and multifamily loans, large banks in particular noted ebbing demand, with about a fifth of the 41 large banks in the survey saying that demand weakened at the end of the year.
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While northern Greenpoint is dotted with stylish new multifamily projects — others include Eleven33, a seven-story rental on Manhattan Avenue, and the Greenpoint, a riverfront condo-rental on India Street — a commercial vibe still permeates the area.
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The "First L.A." was marked by the arrival of water in the 1880s and the city's first population and real estate booms; it was a city of great civic ambition, public architecture and great experimental multifamily housing.
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Michael Rosa, an owner-broker with the Rosa Agency, which has an office in the Ironbound, described a typical home as an early 18s multifamily house on a 25-by-100-foot lot, usually without a driveway.
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Mr. Erlich, the real estate lawyer, said the housing stock south along Main Street to Jewel Avenue is mainly attached homes and small multifamily housing complexes known as garden apartments, which represent about half of the neighborhood's residences.
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Change zoning laws that prevent multifamily housing in single-family precincts in Seattle, and you may have served the many, but only by breaking down the reasons that the many want to be there in the first place.
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Restrictions covered more than 97 percent of "multifamily" housing like apartment buildings and long-resident hotels — the places where sex offenders, who often don't have families or earn enough to live in single-family homes, tend to live.
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Building owners and residents could save $245 billion per year by making energy efficiency upgrades in existing multifamily housing in the US, according to a 2012 study by CNT Energy and the American Council for an Energy-Efficient Economy.
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As compared to the rest of the multifamily REIT universe, MAA is rated a notch lower than Equity Residential (A-/Stable), which Fitch views to have sector leading access to capital and a highly sought-after coastal infill portfolio.
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Construction of new multifamily units has been robust over the past five years, far outpacing that of single-family homes, but most of the product is in pricey markets and pricier neighborhoods, not in areas where demand is highest.
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Multifamily homes line some streets in the southern part of town, and co-ops and condos are predominantly found on Pelham Road and Palmer Avenue and near the Wykagyl shopping area serving the northern neighborhood of the same name.
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In the rental market, studios typically range from $900 for an apartment in a multifamily home to $215,2489 in a luxury high-rise, one-bedrooms from $2497,2491 to $2489,2502 and two-bedrooms from $353,235 to $21887,21688, Ms. Kolmer said.
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About a third of the 69 institutions surveyed, however, said they had "tightened somewhat" the standards for commercial real estate construction and land development loans, and close to a fifth had tightened standards on loans secured by multifamily properties.
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Communities also have a responsibility to actively ensure open housing markets, which exist today neither in public housing clusters on Chicago's segregated South Side nor in exclusive New York City suburbs that use zoning laws to outlaw multifamily housing.
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Museum of Chinese in America: 'Sub Urbanisms: Casino Urbanization, Chinatowns and the Contested American Landscape' (through Sunday) Stephen Fan, an architecture professor and curator, examines the trend of Chinese casino workers' converting suburban homes in Connecticut into multifamily communities.
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But "if you're going to go with a tub, it's go big or go home," said Jason Haber, 40, an associate broker at Warburg Realty, who, along with his family, owns 83 multifamily investment properties in Manhattan and Brooklyn.
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These include accessory dwelling units (converting garages or basements to apartments), legalizing small multifamily buildings (2, 3 or 4 units) where single-family homes are permitted and allowing larger apartment buildings along transit corridors and close to job centers.
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Unfortunately, much of the country bans lower-cost multifamily housing because Herbert Hoover and a committee of openly white supremacist capitalists created exclusionary zoning, encouraging cities and suburbs to segregate or outright ban buildings that can house many people affordably.
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Another $35.8 million will go to public housing pilot projects in New York State to repair damage from recent disasters like Hurricane Sandy and Tropical Storm Irene as well as to support new approaches to better protect low-income, multifamily properties.
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Museum of Chinese in America: 'Sub Urbanisms: Casino Urbanization, Chinatowns and the Contested American Landscape' (through March 27) Stephen Fan, an architecture professor and curator, examines the trend of Chinese casino workers in Connecticut converting suburban homes into multifamily communities.
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Museum of Chinese in America: 'Sub Urbanisms: Casino Urbanization, Chinatowns and the Contested American Landscape' (through March 308) Stephen Fan, an architecture professor and curator, examines the trend of Chinese casino workers in Connecticut converting suburban homes into multifamily communities.
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Museum of Chinese in America: 'Sub Urbanisms: Casino Urbanization, Chinatowns and the Contested American Landscape' (through March 2917) Stephen Fan, an architecture professor and curator, examines the trend of Chinese casino workers in Connecticut converting suburban homes into multifamily communities.
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"It looks like residential construction will move sideways in coming months, with a slight increase in multifamily construction edging out a decrease in single-family starts," said Andres Carbacho-Burgos, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
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Museum of Chinese in America: 'Sub Urbanisms: Casino Urbanization, Chinatowns and the Contested American Landscape' (through March 221986) Stephen Fan, an architecture professor and curator, examines the trend of Chinese casino workers in Connecticut converting suburban homes into multifamily communities.
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"While 2015 marked many new records, recent market and regulatory changes have the potential to impact the availability of commercial and multifamily mortgage debt during 3563," said Jamie Woodwell, MBA's vice president of commercial real estate research, in a statement.
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CNBC first reported he's been charging at least $200,000 for speaking engagements while accepting gigs at the National Multifamily Housing Council, a Miami conference for Context Capital Partners, and a corporate event at the World Economic Forum in Davos, Switzerland.
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The estimated result of the tariffs will be an average 22019 cent per watt increase in year one prices for modules, increasing the average price of small home system by $300-500, and an average multifamily one by $5,000-$10,000.
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Data on Wednesday showed that U.S. single-family starts surged in September, pointing to sustained housing market strength, even as a drop in the construction of multifamily dwellings pushed overall home building activity to a 1-1/2-year low.
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Multifamily Housing Bonds, the Low-Income Housing Tax Credit (Housing Credit), and the New Markets Tax Credit are three tools that towns, cities and states already use to provide stable homes to hardworking families, grow local businesses and promote stronger communities.
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Museum of Chinese in America: 'Sub Urbanisms: Casino Urbanization, Chinatowns and the Contested American Landscape' (through March 27) Stephen Fan, an architecture professor and curator, examines the trend of Chinese casino workers' converting suburban homes in Connecticut into multifamily communities.
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Robert Hughes, the building inspector, said that of the village's roughly 6003,060 housing units, more than 70 percent are single-family houses, fewer than 10 percent are multifamily houses and slightly more than 19 percent are condominiums and co-op apartments.
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"It's not their intention to announce that the apartment is vacant, but wait until you get home and reduce the risk of the wrong person finding out that you're away," said Steve Hein, senior vice president of multifamily housing at Assurant.
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WASHINGTON, Nov 17 (Reuters) - - U.S. housing starts surged to a more than nine-year high in October as builders ramped up construction of both single and multifamily homes, offering hope that housing will contribute to economic growth in the fourth quarter.
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Ms. Cumbicos is a movie-star-beautiful single mother from Ecuador who had sworn off men before she met Ramón Muñiz, a roofer and die-hard union man who lived on the first floor of the multifamily home in Meriden, Conn.
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The site was zoned as part of a nearby commercial district in which multifamily housing could be built, but opponents have argued that the classification was the result of a clerical error, and it was intended for single-family homes.
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There are also more than 600 units in six cooperative complexes and four condominium complexes, Ms. Casandra said, as well as a few hundred multifamily rental homes and about 200 rental units in 23 apartment buildings and mixed-use properties.
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There are 3913 multifamily houses, 546 condominiums in 21 complexes and 292 rental apartments in residential and mixed-use buildings, Mr. Friia said, plus four affordable-housing complexes with 217 units and one building with 36 age-restricted cooperative apartments.
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"The City's Building Code has proven to be effective at significantly preventing fires in high rise multifamily housing or limiting their impact to a single residential unit in a building," John H. Banks, the board's president, said in an emailed statement.
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Brad Hargreaves, the founder of one of these startups, Common, says that his company was able to find "a wholly vacant multifamily building" in rapidly gentrifying Crown Heights, Brooklyn, that enabled Common to move into the neighborhood without evicting longtime residents.
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And according to a 2015 study of housing preferences by the Long Island Index, which compiles housing and land-use data on the region, "nearly one-third of Long Island residents expect to live in multifamily housing" in five years.
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"Fifty of the last 64 hearings of these types of projects over the last four years have seen more support than opposition," Mr. Alexander said, indicating a shift from the days when multifamily projects were almost universally reviled by suburban homeowners.
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In addition to two condo units, four co-ops and two multifamily homes for sale, there were 30 available rental apartments, from a 600-square-foot studio for $1,400 a month, to a 2,000-square-foot four-bedroom for $4,500.
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Republican Donald Trump, a real estate mogul who has invested largely in hotel and multifamily housing development, has said even less about housing than Democrat Hillary Clinton, but the GOP platform is clearer when it comes to the financing side of the business.
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Photo: Alexander Kirch/Shutterstock Photo: Alexander Kirch/Shutterstock One of the first companies reaping the benefits of RET's deep ties to the real estate industry is SmartRent, the startup providing a property analytics and automation platform for multifamily property managers and renters.
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Department of housing, urban development * To purchase commercial mortgage servicing rights from oppenheimer multifamily housing & healthcare finance,unit of oppenheimer holdings * Walker & dunlop to acquire $3.8 billion hud servicing portfolio Source text for Eikon: Further company coverage: (Bengaluru Newsroom +1-646-646-8780)
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Federal Home Loan Mortgage Corp: * FREDDIE MAC PRICES $1.1 BILLION MULTIFAMILY K-DEAL, K-F39 * FREDDIE MAC - APPROXIMATELY $1.1 BILLION IN K CERTIFICATES (K-F39 CERTIFICATES) ARE EXPECTED TO SETTLE ON OR ABOUT DECEMBER 18, 2017 Source text for Eikon: Further company coverage:
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Federal Home Loan Mortgage Corp: * FREDDIE MAC PRICES $239 MILLION MULTIFAMILY K-DEAL, K-J19 * FREDDIE MAC - CO EXPECTS TO ISSUE ABOUT $239 MILLION IN K CERTIFICATES (K-J19 CERTIFICATES), WHICH SETTLED ON MARCH 27, 2018 Source text for Eikon: Further company coverage:
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"You'll still have the increase in population, but as more people opt for homeownership, obviously the amount of supply [of new multifamily housing] you would need to add would not be as much as what's been demanded in recent years," he says.
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Banks should have a fair amount of flexibility as commercial mortgages for lodging currently make up about 15 percent of their total loans, well behind multifamily residential or office buildings totals, said Russell Hughes, a vice president of banking at data firm Trepp.
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The least expensive was a circa 1900 multifamily house with four bedrooms and two bathrooms at 10 Schneider Avenue, priced at $140,000; the most expensive was an 1875 house with five bedrooms and three bathrooms at 134 Mountain Avenue, priced at $399,000.
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Tenant: String Thing Studio Landlord: Teddy Pappas Broker: Lorraine Trotman, Ideal Properties Group $4.5 MILLION 296-300 St. Nicholas Avenue (at Linden Street) Bushwick, Brooklyn A developer plans to demolish this vacant two-story building and replace it with a new multifamily one.
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The National Multifamily Housing Council, a trade association of apartment owners, managers, developers and lenders, has come to the defense of the interest deduction and other provisions favorable to the real estate industry, describing them as "core principles" and promising a fight.
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After Sacramento Municipal Utility District in California launched a residential energy efficiency retrofit program in 2010, Sacramento's housing agency received utility financing of more than $1 million by committing to complete multifamily building rehabs, resulting in reduced energy consumption by 25 to 413 percent.
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According to SNL Financial, the share prices of diversified REITs are currently trading at a 1.5% discount to median consensus net asset value (NAV) compared to the retail and multifamily issuers, whose common share prices are trading at premiums of 6.4% and 0.1%, respectively.
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It wasn't that the suburbs were going away, the articles suggested (though the young and affluent keep clustering in cities where there are more jobs), it was that suburbs themselves were also shifting — toward walkability and denser, multifamily housing near public transit — becoming more citylike.
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WASHINGTON, Oct 19 (Reuters) - U.S. housing starts tumbled to a 1-1/2-year low in September amid a steep decline in the construction of multifamily homes, but a surge in the construction of single-family units pointed to sustained strength in the housing market.
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A report on Friday showed U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multifamily housing units, even as the data provided a positive sign for housing: a jump in permits to a seven-month high.
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Since the beginning of 2017, the increase in the cost of lumber has risen enough to drive up the average price of a new single-family home by more than $85033,000 and the average market value of new multifamily housing unit by about $2,400.
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The GSEs' multifamily model also works because Fannie and Freddie do business with a small group of licensed, well-capitalized lenders — unlike their single-family businesses, where thousands of loan originators with varying degrees of standards and capitalization sell their loans to the GSEs.
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California regulators announced Wednesday that, beginning in 2020, all new single family houses and multifamily buildings of three stories or less will be required to have solar panels, reports the LA Times — a move that reflects the state's push to aggressively fight climate change.
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Among the neighborhoods, Allwood is known for its district of Tudor-style homes; Albion, in the shadow of the Garret Mountain Reservation, has street after street of tidy Cape Cods; Clifton Center, which includes Main Avenue, abounds with older, multifamily colonials on narrow lots.
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To ensure that we are able to meet the growing rental demand, the National Multifamily Housing Council (NMHC) has developed core principles to guide our efforts as we work with Congress to craft a tax reform package that sparks job creation and encourages development.
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In one recent example from Rockland County, N.Y., our company combined the RAD program with a 2202(f) loan to provide long-term permanent FHA financing to two multifamily apartment communities and help them complete $2628 million in necessary repairs without displacing their 28500 households.
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Mr. Sharkey is one of the investors in Denton Cove, a proposed multifamily housing development that has divided the community and prompted a discussion about whether the city's housing problem should be solved with new homes or the historic ones that are its legacy.
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Housing starts rose 3.2% to a seasonally adjusted annual rate of 1.365 million units last month, with single-family construction racing to a 10-month high and activity in the volatile multifamily sector increasing for a second straight month, the Commerce Department said on Tuesday.
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In that region, said Ron Ladell, a senior vice president of AvalonBay Communities, "there is clearly a significant increase in multifamily development taking place," with new Avalon rental projects under construction in Maplewood and others expected to start in Teaneck in the next three months.
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Instead of designing a multifamily community that looks and feels urban, with a focus on streets with sidewalks and proximity to retail, Rechler Equity hopes to create a "new suburbanism" that fosters a sense of community through outdoor common spaces like gardens and bocce courts.
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Matthew Berger, vice president for tax at the National Multifamily Housing Council, an apartment industry group, warned that the tax outline being promoted by House Republicans could cause the tax burdens of real estate developers to spike, potentially dampening growth of new housing projects.
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With RET providing access to its leading multifamily owner LPs, SmartRent has been able to execute on a strong growth trajectory so far, with the company on pace to complete 15,000 installations by the end of the year and an additional 35,000 apartments committed for 2019.
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The number of renters who said they don't know when they expect to move rose to 37 percent in March compared with 30 percent in a survey conducted last September, according to a survey released this week by Freddie Mac, which helps finance the multifamily apartment market.
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" —Tamara Mellon, co-founder and chief creative officer of luxury footwear brand Tamara Mellon; co-founder of Jimmy Choo; equal pay and women's empowerment advocate "In 2011, I purchased a 125-unit multifamily real estate project that had been foreclosed on twice in the past 10 years.
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Lenders are now on a more level playing field when it comes to pricing, significant risk has been transferred away from the taxpayer, a new infrastructure for the secondary market has been built, and the GSEs have provided strong and sustained liquidity in the multifamily rental market.
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His decisions in the real-estate field are guided by two enduring real trends that apply to big portions of the US."Because more and more people are renting, and renting for longer, there is an undersupply of multifamily real estate around the country," he said.
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Developers Gregg and Mitchell D. Rechler, who bought the property last year, have been meeting with community groups, hoping to change the single-family zoning to build Greybarn, a multifamily rental community with 1,378 apartments "geared to keep millennials and downsizers close to home," Gregg Rechler said.
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Suburban counties are defined by exclusionary zoning rules that bar the construction of multifamily housing, and from Seattle to San Francisco to Washington and beyond, even in many central cities, vast tracts of land are set aside exclusively for the development of detached single-family homes.
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Buyer: Freo Group Seller: Ami Ariel of G-Way Brokers: Daniel Shirazi, Robert Khodadadian and Jacob Lewis of Skyline Properties $1.05 MILLION 3816 Barnes Avenue (between East 219th and East 220th Streets) The Bronx This 6,460-square-foot, four-story multifamily building is in the Williamsbridge neighborhood.
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Some members did express concern over commercial real estate lending by smaller banks, and said that "the pace of increase in real estate prices in the multifamily segment and the pattern of the lending and borrowing activities of certain government-sponsored enterprises" could pose stability risks.
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Most of the land available for residential development in California is zoned for single-family homes, according to researchers at U.C. Berkeley's Turner Center for Housing Innovation; the typical California city allows multifamily developments like apartments, townhouses and duplexes on less than a quarter of its land.
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As of June 3371908, 33719161, AAT's property types as a percentage of ABR included Office (33711%), Retail (3371212%) and Multifamily (33710003%) AAT's office and, until recently, retail segments have outperformed the company's public office and retail REIT peers due to sustained demand for AAT's properties, combined with limited supply.
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But the close to 2500 million American households that call some form of low-income housing home, usually renters in multifamily buildings, are less likely than others to be able to afford or be empowered to make changes that in the long run would save both energy and money.
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High Barrier-to-Entry West Coast Focus As of March 31, 2016, AAT's portfolio included 101 retail buildings totaling 3 million square feet (sf), 26 office buildings, totaling 2.7 million sf, as well as 1,579 multifamily units and Waikiki Beach Walk, a retail/hotel mixed-use property in Honolulu.
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"While nonprofit housing developers prioritize multifamily developments, we support ADUs as one of many tools that can help address our housing crisis, given the staggering deficit of units across California for people of all incomes," said Alan Greenlee, executive director of the Southern California Association of Nonprofit Housing.
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Mr. Bledsoe said that while multifamily investors could be wary of new models, he hoped that the Northern Boulevard project, which was able to secure a $150 million construction loan from the American International Group, would show institutional-grade developers that co-living is not a narrow niche.
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"Determining whether invidious discriminatory purpose was a motivating factor demands a sensitive inquiry into such circumstantial and direct evidence of intent as may be available," the court said in the Arlington opinion, which involved a village zoning decision that effectively barred a low-income housing nonprofit from building multifamily units.
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"Sometimes government regulation can be a positive — but if it's done too much, I'd be concerned," says Elie Rieder, founder and CEO of Castle Lanterra Properties, a firm in Suffern, New York, that invests in multifamily real estate around the country and is affected by regulations such as rent stabilization laws.
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Starting in January 2020, rentals of a whole home or apartment where the owner isn't present are capped at 60 days a year; renters are largely barred from listing their homes on platforms like Airbnb and HomeAway; and short-term rentals are banned in many multifamily buildings, among many other provisions.
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Top-line growth is competitive with multifamily and quite frankly, when you look at our fundamentals, it's a very attractive time for investors and that's why you see us come to the public market," said John Bartling, president and CEO of Invitation Homes, in an interview on CNBC's "Squawk on the Street.
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A recent report prepared by Andrew A. Beveridge, a sociologist at Queens College and prominent demographer, found that 19 of the 31 communities cited in the agreement continued to discriminate against minorities by virtue of restrictive zoning, namely ordinances that do not allow for adequate amounts of multifamily housing without a special permit.
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Start-ups that have benefited from the Airbnb ecosystem include Pillow, which helps manage rentals in multifamily buildings; Dharma Home Suites, which bills itself as "boutique corporate housing"; and Niido, which has received a $0003 million investment from real estate giant Brookfield to build Airbnb-branded apartments designed for short-term rentals.
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Seller: Ian Schrager Company Brokers: Christopher Owles, Elliott Mishan and Matt Girard, Sinvin Real Estate $22000 MILLION 2136 West 270nd Street (between Seventh and Eighth Avenues) Manhattan A local multifamily investor has bought this 9,625-square-foot 1901 five-story walk-up in Chelsea with 20 apartments — 19 one-bedrooms and one studio.
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With many baby boomers now in their 60s and 70s, the swell in senior housing "is happening everywhere in the region," as many older adults move from single-family houses into multifamily developments, said Christopher Jones, senior vice president and chief planner for the Regional Plan Association, a Manhattan-based think tank.
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High Growth/High Barrier-to-Entry Markets: At June 30, 2017, AAT's portfolio included 104 retail buildings (11 properties) totalling 3.1 million square feet (sf), 28 office buildings (seven properties) totaling 2.7 million sf, as well as 2,112 multifamily units (eight properties) and Waikiki Beach Walk, a retail/hotel mixed-use property in Honolulu.
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The House tax reform bill eliminates private activity bonds, which include multifamily Housing Bonds – a type of financing that currently makes possible more than half of all affordable apartments in the U.S. It's not just that the financing is important for these homes – but for financing from Housing Bonds, these homes would not be built.
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High Barrier-to-Entry West Coast Focus: At March 31, 2017, AAT's portfolio included 104 retail buildings (11 properties) totalling 3.1 million square feet, 28 office buildings (seven properties) totaling 2.7 million square feet as well as 2123,579 multifamily units (seven properties) and Waikiki Beach Walk, a retail/hotel mixed-use property in Honolulu.
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According to the Boston Globe, Clinton told the National Multifamily Housing Council in 2013 that she gave an example of Lincoln getting the 13th Amendment passed when discussing a "public and a private position": ''It is unsavory, and it always has been that way, but we usually end up where we need to be.
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Seller: 103 East 69th Street Brokers: Ron Cohen, Michael Besen and Madison O'Brien, Besen & Associates $7.8 million 957-211 Kelly Street (between 22rd Street and Westchester Avenue) Foxhurst, Bronx An investor in Bronx multifamily buildings has bought this five-story walk-up with 2300 rent-stabilized apartments — 2319 one-bedrooms and 247 two-bedrooms.
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Read more: Ex-Morgan Stanley rainmaker Greg Fleming's new firm is putting in place 'the building blocks' to reach $100 billion in assets — and it's just made its biggest move yetLast year, the Wall Street veteran Greg Fleming joined the firm and said he wanted to expand the multifamily office's capabilities into investment banking and other areas.
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Clinton is reported to have said this in a 2013 speech to the National Multifamily Housing Council: "You just have to sort of figure out how to — getting back to that word, 'balance' — how to balance the public and the private efforts that are necessary to be successful, politically, and that's not just a comment about today," she said.
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Other resources include Waterfront Edge Design Guidelines, by the Waterfront Alliance; Ready to Respond: Strategies for Multifamily Building Resilience, by Enterprise Community Partners; Coastal Climate Resilience: Designing for Flood Risk and Coastal Climate Resilience: Retrofitting Buildings for Flood Risk, by the New York City Department of City Planning; and a glossary by the Federal Emergency Management Agency.
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In recent years, many of the new multifamily buildings that have joined the century-old rowhouses in this central Brooklyn neighborhood have been rentals — including 2803 Eastern Parkway (260 stories, 2680 units), the Dean (eight stories, 21 units) on Dean Street and the side-by-side Frederick and Olmstead buildings (eight stories, 703 units) on Saint John's Place.
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"In our portfolio, which represents 70,000 units mostly in the luxury space, we're seeing that our renters are spending a relatively low amount of their income on rent despite rents being perceptively high," said Toby Bozzuto, president and CEO of The Bozzuto Group, a multifamily management and development company operating in the Northeast and Mid-Atlantic.
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In recent years, many of the new multifamily buildings that have joined the century-old rowhouses in this central Brooklyn neighborhood have been rentals — including 2803 Eastern Parkway (260 stories, 2680 units), the Dean (eight stories, 21 units) on Dean Street and the side-by-side Frederick and Olmstead buildings (eight stories, 703 units) on Saint John's Place.
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"While the intent of rent control laws is to assist lower-income populations, history has shown that rent control exacerbates shortages, makes it harder for apartment owners to make upgrades and disproportionally benefits higher-income households," Doug Bibby, president of the National Multifamily Housing Council, which represents the apartment industry, said in a statement Tuesday about the Oregon bill.
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KEY ASSUMPTIONS Fitch's key assumptions within its rating case for the issuer include: --CLI's office platform GAAP SSNOI grows at a mid-single digit rate through 2019 based on a combination of occupancy gains and positive double digit GAAP rent spreads; --The company successfully stabilizes its multifamily developments on schedule and at yields in the mid-6% range; --CLI re-loads its multifamily development pipeline with a similar amount of new development starts as communities under construction are delivered and stabilized through the 2019 projection period; --The company continues to encumber properties to help fund its development and refinancing requirements; --Fitch has not assumed that CLI sells its flex office/industrial portfolio during 2018 and uses the proceeds to de-lever, a possibility that CLI management has publicly discussed.
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"The Death and Life of Great American Cities" was written during a time when Manhattan had begun to see its population decline, a slide that would culminate in the rest of New York City in the '70s, as it did in urban areas around the country, allowing Jacobs the luxury to equate "density" with rows of lovely townhouses and low-rise multifamily dwellings.
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Tenant: Shared Operating Services Tenant's Brokers: Maria Travlos and Michael Burgio, Cushman & Wakefield Landlord: 4 Bryant Park Associates Landlord's Broker: David Levy, Adams & Company $9.3 MILLION 1025 East 14th Street (between Avenues J and K) Midwood, Brooklyn A multifamily-building operator has bought this 1927 six-story elevator building with 35 rent-stabilized apartments — 17 one-bedrooms and 18 two-bedrooms.
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"It's definitely great news for renters, many of whom are still struggling with affordability," Chris Salviati, a housing economist at Apartment List and lead researcher on the report, tells CNBC Make It. To calculate rent growth rates, Apartment List looked at year-over-year changes using rent data collected from Census information through the American Community Survey that included properties ranging from large multifamily buildings to single-family homes.
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As my colleague Matt Yglesias wrote last week, housing inventory across the country is at a historic low, and exclusionary zoning laws in many cities and suburban areas prevent construction of multifamily units in favor of single-family homes: The good news ought to be that a low level of housing supply leads to a boom in house building, which puts people to work and eventually ameliorates the shortage.
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He is also right about principal elements of reform, as listed in the memorandum, notably reducing taxpayer risks, expanding the role of the private sector, establishing "appropriate" capital requirements for Fannie Mae and Freddie Mac, providing that the government is properly paid for its credit support of Fannie and Freddie, facilitating competition, addressing the systemic risk of Fannie and Freddie, defining what role they should have in multifamily mortgage finance, and terminating their conservatorships only when the other reforms are put in place.
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"It's about time we take a long, serious, look at all the regulations that have held back America's affordable housing supply — especially multifamily housing — from keeping pace with demand," HUD Secretary Ben CarsonBenjamin (Ben) Solomon CarsonCarson's affordable housing idea drawing undue flak Overnight Energy: Trump EPA looks to change air pollution permit process | GOP senators propose easing Obama water rule | Green group sues EPA over lead dust rules Green group sues EPA over lead dust rules it says are too lax MORE said in a recent speech in Indiana.
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SCHOOL DISTRICT NO. 144, WEEK OF 17,430 /AA/ COOK COUNTY, ILLINOIS 03/21 (PRAIRIE HILLS) CONSISTING OF: GENERAL OBLIGATION LIMITED SCHOOL BONDS, SERIES 6253 A&B GENERAL OBLIGATION REFUNDING SCHOOL BONDS, SERIES 2016 C&D MGR: Oppenheimer & Co., Stamford INSURANCE: BUILD AMERICA MUTUAL ASSURANCE REMARK: UNDERLYING RATING: BAA1 HEALTH & EDUCATIONAL FACILITIES WEEK OF 17,250 /AA+/ BOARD OF METROPOLITAN GOVERNMENT 03/21 OF NASHVILLE AND DAVIDSON COUNTIES, TENNESSEE COLLATERALIZED MULTIFAMILY HOUSING BONDS (RADNOR TOWERS APARTMENTS PROJECT) MGR: Raymond James & Associates, Chicago TERM: 2019 Day of Sale: 03/23 VIDALIA CITY SCHOOL DISTRICT, WEEK OF 033,205 Aa1// GEORGIA 03/21 GENERAL OBLIGATION BONDS MGR: Raymond James & Associates, Inc.
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