News

2017 Housing Outlook: In Uncertain Times, Advocacy is Key
2/10/2017

2017 Housing Outlook: In Uncertain Times, Advocacy is Key

Talk about uncertainty. Over the years, those in the affordable housing industry have dealt with their fair share of uncertainty—in the form of budget shortfalls, continuing resolutions, sequestration and more. As 2017 begins to unfold, however, the aura of uncertainty is perhaps stronger than ever as the prospect of tax reform, drastic budget cuts, infrastructure spending and a retired pediatric surgeon taking over the U.S. Department of Housing and Urban Development (HUD) all loom on the horizon. Fortunately, the affordable housing industry has a lot of friends and advocates in Washington and across the nation. In 2017, it’s going to need them all to step up in a big way.

Keeping It Affordable: Update on New LIHPRHA Rules
12/9/2016

Keeping It Affordable: Update on New LIHPRHA Rules

Preserving, improving and increasing the stock of affordable multifamily rental units across the nation is a perennial goal of both the U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) and the affordable housing industry in general. Unfortunately, sometimes a housing owner’s best option from a financial perspective is to convert their affordable units to market-rate. In response, HUD has issued new guidelines meant to incentivize owners to keep their units affordable.

Housing Stimulus: FHA Lowers Rates for Affordable and Energy Efficient Properties
6/10/2016

Housing Stimulus: FHA Lowers Rates for Affordable and Energy Efficient Properties

Reduce rates, spur activity. That seems to be the thinking in Washington these days regarding the development of affordable and energy efficient multifamily housing. And to those in the housing industry, that thinking is definitely welcome.

3/19/2016

Innovative Financing Structure for Affordable Housing Community

Affordable Housing Finance describes how Colony Park, an affordable housing community in Florida, used a creative financing structure that allowed them to take advantage of low interest rates and preserve the ability to resyndicate at year 15.

3/10/2016

Multifamily Pros Ready to Build in 2016

Lancaster Pollard's Housing Survey indicates that affordable and multifamily housing developers don't plan to slow their construction efforts in 2016, as reported by REJournals.com.

2/11/2016

Affordable Housing Industry Receives Good News from Washington

As 2015 came to a close, the affordable housing industry enjoyed two welcome developments from the federal government. The first is a fiscal year (FY) 2016 omnibus appropriations bill that was considerably kind to affordable housing, as many programs saw funding increases versus 2015. The second was the long-awaited permanent floor for the 9% low-income housing tax credit (LIHTC) interest rate, providing more equity and much-needed certainty for developers nationwide.

1/29/2016

FHA Lowering Mortgage Insurance Premiums for Affordable Multifamily Housing

The U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) announced proposed changes to the fiscal year (FY) 2016 mortgage insurance premiums (MIPs) for select FHA multifamily insurance programs. The proposed changes are a result of FHA’s healthy multifamily portfolio (which currently has a historically low default/delinquency rate of 0.15%), its effort to simplify rate structures, and its commitment to providing affordable housing and promoting energy efficiency.

A Buyer’s Market: Fannie Mae Acquisition Loans
4/13/2015

A Buyer’s Market: Fannie Mae Acquisition Loans

For those receiving an abundance of real estate brokerage packages lately, one aspect is likely to stand out—the high prices sellers are asking for in today’s frothy acquisition market. Due to those high prices, as well as factors such as fewer closing contingencies, quicker closings and all-cash offers, now can be an ideal time to consider selling well-performing affordable apartment buildings.

2/9/2015

HUD Issues Affordable Housing Clarifications

The U.S. Department of Housing and Urban Development (HUD) recently announced several updates to support its affordable housing programs. Included are both clarifications to existing policies and operational changes. All of the updates will be reflected in the revised Multifamily Accelerated Processing (MAP) Guide that is expected to be released in late February, 2015. Below is a summary of the initiatives:

Finding the Best Bond Execution: Taxable or Tax-Exempt?
12/5/2014

Finding the Best Bond Execution: Taxable or Tax-Exempt?

It is no secret to those familiar with the affordable multifamily rental housing industry—need dramatically outpaces supply. For the 11.5 million extremely low-income households in 2012 there were only 3.3 million rental units affordable and available to them.1