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Philadelphia City Council to Hold Hearing on Preserving Affordable Housing Portfolio

Philadelphia City Council to Hold Hearing on Preserving Affordable Housing Portfolio

Philadelphia City Councilmember Jamie Gauthier is introducing legislation for a public hearing to examine the city's efforts to preserve 925 affordable rental units in her district. These properties, primarily single-family homes owned by Neighborhood Restorations, were built with federal tax credits that have kept them affordable for decades. While 225 of these units have already had their affordability restrictions expire, the remaining 700 units will lose theirs over the next decade. Mayor Cherelle Parker's administration has expressed commitment to saving these homes amid an affordable housing crisis, but a formal announcement regarding a specific dollar amount for investment has not yet been made. The resolution aims to secure city funding for a potential sale that would ensure the units remain permanently affordable.
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City of Cambridge Honored for Decades-Long Commitment to Homebuyer Education

City of Cambridge Honored for Decades-Long Commitment to Homebuyer Education

The City of Cambridge has received a Pioneer Award from the Citizens’ Housing and Planning Association (CHAPA) through its Massachusetts Homebuyer Collaborative. This award recognizes Cambridge's more than 20-year partnership with the Collaborative in providing high-quality first-time homebuyer education. For over 25 years, Cambridge has offered CHAPA-certified workshops six times annually, serving more than 400 participants each year. These workshops provide a comprehensive overview of the homebuying process, featuring presentations from local real estate agents, mortgage lenders, home inspectors, real estate attorneys, and insurance professionals. Participants who complete the program receive a certificate that can help them access affordable mortgage products, down payment assistance programs, and first-time homebuyer opportunities available through city and partner programs. The Massachusetts Homebuyer Collaborative sets standards for certified agencies offering homebuyer education and counseling servi...
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Vineyard City Council Scrutinizes Utah City Development Amid Concerns Over Density and Public Funding

Vineyard City Council Scrutinizes Utah City Development Amid Concerns Over Density and Public Funding

Vineyard City Council Scrutinizes Utah City Development Amid Concerns Over Density and Public Funding
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Honolulu Department of Housing and Land Management Offers $127 Million in Bond Financing for Affordable Housing

Honolulu Department of Housing and Land Management Offers $127 Million in Bond Financing for Affordable Housing

The City and County of Honolulu Department of Housing and Land Management (DHLM) has issued a Request for Proposals (RFP) to provide up to $127 million in Private Activity Bond (PAB) financing. This initiative aims to support the acquisition and rehabilitation of existing multifamily rental housing properties on Oʻahu. Qualified developers and property owners, including both nonprofit and for-profit entities, are invited to apply for tax-exempt bond financing. Eligible projects must contain at least four residential rental units and demonstrate a viable plan for acquisition, rehabilitation, financing, and long-term affordability. New construction projects are generally not eligible, with limited exceptions for specific improvements. Mayor Rick Blangiardi emphasized that affordable housing is a critical challenge for the island, and PABs are a powerful tool to leverage private-sector investment and create more affordable housing opportunities.
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Cleveland Real Estate Investors Explore Opportunities in Gentrification's Shadow

Cleveland Real Estate Investors Explore Opportunities in Gentrification's Shadow

Cleveland Real Estate Investors Explore Opportunities in Gentrification's Shadow
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How Theodore Richards Became the First American Chemistry Nobel Laureate

How Theodore Richards Became the First American Chemistry Nobel Laureate

Theodore William Richards, a distinguished American physical chemist and the first American Nobel laureate in Chemistry, led a life that uniquely b...
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Memphis Mayor Paul Young Outlines Housing as Core Strategy for City Growth and Community Development

Memphis Mayor Paul Young Outlines Housing as Core Strategy for City Growth and Community Development

Memphis Mayor Paul Young has highlighted housing as the foundational element of the city's growth strategy. During an episode of NAHB’s podcast, 'Housing Developments,' Mayor Young discussed key housing programs initiated to achieve the city's goal of creating 10,000 housing units in its core by 2030. He emphasized that quality housing is essential for strong schools, a growing economy, cultural vibrancy, and overall quality of life. The city is pursuing a 'Build Up, Not Out' strategy to efficiently deliver services by adding residents to established areas. This approach, however, faces challenges such as infrastructure issues in older parts of the city and an appraisal gap in historically underserved neighborhoods, where acquisition and construction costs can exceed appraised values.
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Congressional Democrats Question Brookfield's Acquisition of Largest U.S. Mobile Home Portfolio

Congressional Democrats Question Brookfield's Acquisition of Largest U.S. Mobile Home Portfolio

Three Democratic Representatives, Rashida Tlaib, Gabriel Vasquez, and Maxwell Frost, have sent a letter to Brookfield Asset Management inquiring about its recent acquisition of Yes Communities, the largest privately held manufactured housing portfolio in the United States. Brookfield quietly closed on this acquisition, which includes nearly 300 manufactured home developments across 23 states, from GIC, Singapore’s sovereign wealth fund, in the second quarter of this year. The exact purchase price for the portfolio remains undisclosed, though Brookfield Asset Management (BAM) reported spending $5.2 billion in its real estate business during the second quarter, which encompassed this acquisition. Yes Communities operates over 55,000 housing sites, primarily in the Southwest, Midwest, and Southeast U.S. The congressional letter, dated October 13, seeks assurances regarding tenant protections and addresses concerns about potential rent increases, excessive fees, and neglect of maintenance, issues previously as...
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San Francisco Approves First Housing Development Under Mayor Lurie's Family Zoning Plan on Anza Street

San Francisco Approves First Housing Development Under Mayor Lurie's Family Zoning Plan on Anza Street

The San Francisco Planning Commission has unanimously approved the first housing development under Mayor Daniel Lurie’s new Family Zoning Plan. This project, located on Anza Street near Collins Street in the Laurel Heights neighborhood, will replace a two-story, rent-controlled, two-unit residential building with an 85-foot-tall, eight-story condominium building containing eight units. The new building will include a one-bedroom and a two-bedroom unit designated as affordable replacement units at 80% Area Median Income (AMI), in exchange for the lost rent-controlled housing. The project is exempted from the California Environmental Quality Act (CEQA) under California State law AB130. This development is seen as a significant step in implementing the Family Zoning Plan, which aims to address San Francisco's housing shortage by allowing taller buildings along transit corridors.
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Rapid City Mayor Salamun Proposes Moratorium and Alternate Ordinance for Data Centers

Rapid City Mayor Salamun Proposes Moratorium and Alternate Ordinance for Data Centers

Rapid City Mayor Jason Salamun is set to introduce two new agenda items at the November 25 Planning Commission meeting concerning the proposed data centers ordinance. One proposal is a six-month moratorium on issuing permits for data center operations, pending further actions on Ordinance 6746. This ordinance aims to add provisions addressing location, power, water, sewer, noise, and vibration issues related to data centers. The second measure is an alternate ordinance designed to provide additional protections to existing city regulations for data center operations, should the City Council not approve a moratorium. These proposals follow the Planning Commission's decision on November 5 to delay a vote on the data center regulations until January 21, 2027. This delay was recommended by staff to incorporate feedback from over 900 public responses and comments regarding water, noise, and infrastructure concerns. Mayor Salamun will announce these items at a press conference on Thursday at city hall.
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Lincoln Institute Launches Community Revitalization Cohort to Address Gentrification and Displacement in U.S. Cities

Lincoln Institute Launches Community Revitalization Cohort to Address Gentrification and Displacement in U.S. Cities

The Lincoln Institute of Land Policy has initiated its first Community Revitalization Cohort (CRC), a peer learning community designed to foster community well-being strategies in historically disinvested neighborhoods across the U.S. This initiative, part of the Lincoln Institute’s Remaking Local Economies (RLE) program, brings together representatives from four community-based nonprofit intermediaries. These organizations include Invest Detroit, which is leading a decade-long investment in 10 Detroit neighborhoods; the Partnership for Southern Equity (PSE), working with the City of Atlanta on its Neighborhood Reinvestment Initiative (NRI) to revitalize seven neighborhoods; Neighborhood Allies, focusing on Pittsburgh’s East Liberty, Larimer, and Homewood neighborhoods to address gentrification and displacement; and Cleveland Neighborhood Progress (CNP), aiming to strengthen and reevaluate community roles beyond the city’s existing development ecosystem. The cohort's inaugural meeting in Cambridge, Massach...
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ABC Orders Pilot for 'Rabbit,' an American Adaptation of BritBox's 'Ludwig,' Raising Questions for 'Percy Jackson' Creators

ABC Orders Pilot for 'Rabbit,' an American Adaptation of BritBox's 'Ludwig,' Raising Questions for 'Percy Jackson' Creators

ABC Orders Pilot for 'Rabbit,' an American Adaptation of BritBox's 'Ludwig,' Raising Questions for 'Percy Jackson' Creators