Regional science

Affirmed Housing and Suffolk Win San Diego Housing Federation’s Ruby Award for Affordable Housing Project, Stella and Bluewater

Retrieved on:

Wednesday, August 12, 2020

Building Systems, Manufacturing, Other Manufacturing, Commercial Building & Real Estate, Construction & Property, Articles, Economic inequality, Supportive housing, Grantville, Academic disciplines, Regional science, Affordable housing, Suffolk, Affirmed Housing

Suffolk is being honored alongside affordable housing developer, Affirmed Housing, for Stella and Bluewater, two new supportive housing communities located in the Grantville neighborhood of San Diego.

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Suffolk is being honored alongside affordable housing developer, Affirmed Housing, for Stella and Bluewater, two new supportive housing communities located in the Grantville neighborhood of San Diego.
San Diego Housing Federations Ruby Awards recognize excellence in affordable housing and community development in San Diego.
Suffolk is honored to be recognized by the San Diego Housing Federation in partnership with Affirmed Housing for our most recent affordable housing project, said Zach Hammond, General Manager, Suffolk San Diego.
Headquartered in San Diego, Affirmed Housing is dedicated to improving and sustaining the viability of California through the development of affordable housing.

CareSource Commits $50 Million to Affordable Housing Investments

Retrieved on:

Tuesday, August 11, 2020

CareSource, Managed care, Articles, Public housing, Affordable housing, Regional science, Economic inequality

DAYTON, Ohio, Aug. 11, 2020 (GLOBE NEWSWIRE) -- CareSource, a nonprofit multi-state managed care plan, announced Tuesday it is committing $50 million in investments to affordable housing projects across the United States.

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DAYTON, Ohio, Aug. 11, 2020 (GLOBE NEWSWIRE) -- CareSource, a nonprofit multi-state managed care plan, announced Tuesday it is committing $50 million in investments to affordable housing projects across the United States.
In the U.S. on average, for every 100 extremely low-income people searching for affordable housing, there are only 36 affordable units available.
CareSources announcement follows years of affordable housing support through CareSource Foundation grants.
Earlier this year, the organization also announced its role as an investor in the $100 million housing action fund administered by the Affordable Housing Trust for Columbus and Franklin County, which provides below-market financing for affordable housing development.

Real Estate Innovation Supporting California's Housing Market Recovery in 2020

Retrieved on:

Friday, August 7, 2020

Regional science, Affordable housing, Economic inequality, Real estate in Puerto Rico, Real estate economics, Economic geography, Articles

"In the early months of 2020, California saw immediate setbacks on several fronts including homeownership and real estate-related employment," said Terrel.

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"In the early months of 2020, California saw immediate setbacks on several fronts including homeownership and real estate-related employment," said Terrel.
With the nation's largest housing market, much of that pain will be felt in the Golden State."
Positive growth and consumer-driven innovation represents a real opportunity for California's housing affordability issues and presents a healthy future for the state's real estate market.
Early in 2020, REX began development of a new virtual showings tool - the first of its kind in the real estate industry.

Leading Senior Groups Announce Opposition to Proposition 21

Retrieved on:

Wednesday, August 5, 2020

The groups say Proposition 21 would make it more difficult for seniors to find affordable housing by slowing the construction of new projects and reducing the number of properties on the market to rent.

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The groups say Proposition 21 would make it more difficult for seniors to find affordable housing by slowing the construction of new projects and reducing the number of properties on the market to rent.
They also pointed to findings of the nonpartisan Legislative Analysts Office analysis of the initiative, which noted Proposition 21 will diminish property values and result in less revenue for communities.
And for senior renters on fixed incomes, Prop 21 would result in less affordable rental housing options.
A similar measure, defeated overwhelmingly by California voters in 2018, also was strongly opposed by senior and veterans groups.

Vitus Announces Redevelopment of Two Properties in Boston

Retrieved on:

Monday, July 27, 2020

Construction & Property, Residential Building & Real Estate, Affordable housing, Regional science, Roxbury, Boston, Economic inequality, Section 8, Economic geography

The rehabilitation of these properties includes large-scale improvements that will benefit the current residents and ensure quality affordable housing for years to come.

Key Points:

The rehabilitation of these properties includes large-scale improvements that will benefit the current residents and ensure quality affordable housing for years to come.
As part of the acquisition of both Fort Hill Gardens and Esperanza, Vitus renewed Section 8 Housing Assistance Payments that guarantee the affordability of both properties for 20 years.
In doing so, Vitus is addressing the critical need for affordable housing in Roxbury while also enhancing two important and in the case of Esperanza, historic apartment communities.
At Vitus, we specialize in protecting existing affordable housing in communities with the greatest need Roxbury is a perfect example.

LAO: Proposition 21 Would Cost State, Localities “High Tens of Millions Per Year” in Lost Revenue, Result in Less Housing

Retrieved on:

Thursday, July 23, 2020

Public policy, Government, Construction & Property, State, Local, Public policy, REIT, Other Construction & Property, Elections, Campaigns, Residential Building & Real Estate, Affordable housing, Regional science, California Proposition 13, Inclusionary zoning

In addition, the LAO also concludes that some landlords would sell their rental housing to new owners who would live there, which results in less affordable housing available to the states renters.

Key Points:

In addition, the LAO also concludes that some landlords would sell their rental housing to new owners who would live there, which results in less affordable housing available to the states renters.
The LAO also notes the value of rental housing would decline because potential landlords would not want to pay as much for these properties if Proposition 21 became law.
Meanwhile, homeowners would see the value of their properties drop and renters would have fewer housing options.
Ad paid for by No on Prop 21: Californians for Responsible Housing, a coalition of seniors, veterans, affordable housing advocates, labor & social justice organizations, sponsored by California Apartment Association.

Greystone Affordable Development Preserves 802 Affordable Housing Units in Texas During Pandemic

Retrieved on:

Monday, July 20, 2020

Regional science, Housing, Economic geography, Texas State Affordable Housing Corporation, Rural housing, Texas Department of Housing and Community Affairs, Affordable housing, Low-Income Housing Tax Credit, Affordable housing by country, Howard County Housing and Community Development

Utilizing the housing industrys critical 4 Percent Low Income Housing Tax Credit (Housing Credit), which is currently in crisis due to historically low rates, Greystone Affordable Development will redevelop, modernize and secure affordable rental homes for thousands of Texans.

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Utilizing the housing industrys critical 4 Percent Low Income Housing Tax Credit (Housing Credit), which is currently in crisis due to historically low rates, Greystone Affordable Development will redevelop, modernize and secure affordable rental homes for thousands of Texans.
Hamilton Valleys portfolio of affordable housing properties for this transaction includes 23 aged USDA Rural Development Section 515 properties, comprising 802 apartment homes serving low-income households in 14 counties across Texas.
Greystones affordable housing preservation group worked closely with USDAs Rural Housing Service (RHS) Texas State Offices, as well as the Texas State Affordable Housing Corporation and Texas Department of Housing & Community Affairs to coordinate and secure the financing needed to acquire and rehabilitate this at-risk and much-needed housing.
We thank the development team, investment partners, the Texas office of USDAs Rural Housing Service and the Texas housing agencies Texas State Affordable Housing Corporation and Texas Department of Housing & Community Affairs, as well as Texas Housing Foundation for their continued partnership.

New PAHRC Research Finds That Publicly Supported Housing Provides Housing Stability, Leads to Health Improvements in Older Adults

Retrieved on:

Tuesday, July 14, 2020

Regional science, Academic disciplines, Deinstitutionalisation, Public housing, Supportive housing, Articles, Affordable housing, Affordable housing in Canada, Affordable housing by country

CHESHIRE, Conn., July 14, 2020 /PRNewswire-PRWeb/ --Publicly supported housing provides stability to low-income older adults, which helps them age in place more easily than their low-income peers who do not live in publicly supported housing, according to new research from the Public and Affordable Housing Research Corporation .

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CHESHIRE, Conn., July 14, 2020 /PRNewswire-PRWeb/ --Publicly supported housing provides stability to low-income older adults, which helps them age in place more easily than their low-income peers who do not live in publicly supported housing, according to new research from the Public and Affordable Housing Research Corporation .
Homes made affordable through public programs benefit low-income older adults in other key ways as well, which can help them better age in place.
The report found that low-income older adults who live in publicly supported homes:
Report higher levels of social interaction33 percent report having 10 or more friends, compared to just 17 percent of low-income older adults who do not live in publicly supported homes; and
PAHRC's research also found that seniors who live in publicly supported housing have unique needs related to their care as they age.
The Public and Affordable Housing Research Corporation delivers research, data, and tools to housing providers, policymakers, affordable housing advocates, and others who are working to help families achieve the benefits of an affordable home or increase the supply of affordable housing.

Canadian housing starts increased in June

Retrieved on:

Thursday, July 9, 2020

Real estate economics, Real estate industry, Canada Mortgage and Housing Corporation, Real estate, Affordable housing in Canada, Affordable housing, Regional science, Articles, Economic inequality

This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

Key Points:

This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
"The national trend in housing starts increased in June," said Bob Dugan, CMHC's chief economist.
Preliminary Housing Starts data are also available in English and French through our website and through CMHC's Housing Market Information Portal .
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

Low Mortgage Rates Key to Housing Affordability This Summer, According to First American Real House Price Index

Retrieved on:

Tuesday, June 30, 2020

Professional services, Residential Building & Real Estate, Insurance, Commercial Building & Real Estate, Construction & Property, REIT, Banking, Economy, Real estate economics, Real estate industry, Mortgage loan, House prices, Economic inequality, Regional science, Real estate, Affordable housing in Canada, Affordable housing

However, we can examine some potential scenarios that can provide perspective on how the drivers of the Real House Price Index impact affordability.

Key Points:

However, we can examine some potential scenarios that can provide perspective on how the drivers of the Real House Price Index impact affordability.
Three driving forces mortgage rates, household income, and unadjusted house prices influence affordability in the housing market.
If household income growth slows and house prices continue to rise, even todays record low mortgage rates may not keep affordability from declining.
The next release of the First American Real House Price Index will take place the week of July 27, 2020 for April 2020 data.