News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Donna Kimura / AFFORDABLE HOUSING FINANCE / May 6, 2013
The Department of Housing and Urban Development (HUD) needs to undergo a major restructuring of its multifamily division in the next two years, according to agency leaders.
This effort includes reducing field offices across the country and introducing a new risk-based processing system that aims to increase consistency and improve efficiency.
“These two elements really complement each other,” says Carol Galante, Federal Housing Administration (FHA) commissioner and assistant secretary for housing. “Theoretically, they could be done separately, but they areRead More
Jennifer Goodman / ECOSTRUCTURE / April 16, 2013
Affordable housing nonprofit saves 15 percent on energy bills after benchmarking turns up areas for improvement.
Multifamily building stock in the United States has great potential for significant energy efficiency gains, with energy savings estimated at $9 billion, according to a recent report from the Institute for Market Transformation (IMT). (Click here for related story.) The study found that while energy costs have risen 20 percent in the past decade, new energy benchmarking laws in major cities that require owners of multifamily buildings to measures or disclose their properties’Read More
Donna Kimura / AFFORDABLE HOUSING FINANCE / April 3, 2013
The NRP Group started construction on 16 new developments with an impressive 2,588 affordable units last year to capture the No. 1 spot on Affordable Housing Finance’s upcoming list of top developers in its April/May issue.
The big numbers push the Cleveland-based firm to the top of The AHF 50 list for the second consecutive year.
The for-profit and nonprofit companies on the Top 50 list broke ground on 20,435 affordable units in 270 new developments last year. That’s a sizable 17 percent jump from the 17,438 units in 213 projects started by the same developers in 2011.
A steady flow of low-incomeRead More
NAHB / April 1. 2013
During New Homes Month in April, the National Association of Home Builders (NAHB) is showing home buyers why they can afford a higher-priced home—if it’s new construction. Using data from the Census Bureau and Department of Housing and Urban Development’s 2011 American Housing Survey, NAHB found that buyers can purchase a more expensive newer home and achieve the same annual operating costs as an older, existing home.
“Home buyers need to look beyond the initial sales price when considering whether to buy new construction or an existing home,” said NAHB Chairman Rick Judson, aRead More
Bendix Anderson / AFFORDABLE HOUSING FINANCE / March 12, 2013
Low interest rates, stronger banks, and a flood of older affordable housing properties meant more lending in 2012
- In 2012, more lenders made more capital available for affordable housing. Nearly every lender contacted by Affordable Housing Finance reports that they closed a higher volume of loans to affordable housing properties in 2012 than the prior year—and 2011 had already been a much busier year than 2010.
“We have done business with a broader pool of lenders than we have in the past … in all parts of the country,” says Bob Simpson, vice president of the seniors and affordable