The ULI Terwilliger Center for Housing is examining the housing characteristics and residential location choices of the America’s foreign-born population to better understand the impact that immigrants could have on local housing markets across the country, particularly in the suburbs. In some cases, the growing immigrant population may fuel continued population growth in central cities. But in many instances, immigrants will be a key source of demand for single-family housing in the suburbs.Read More
According to the latest forecast from the Joint Center for Housing Studies at Harvard University, spending on home improvements is projected to strengthen in the majority of America’s largest metro areas in 2017, with many markets in the East and Midwest expected to post double-digit annual growth. The residential remodeling market reached a record high of $340 billion in 2015—surpassing its previous peak in 2007—and is projected to increase 2 percent per year on average through 2025 after adjusting for inflation.
Los Angeles is now the top city in Marcus & Millichap’s National Multifamily Index, moving up 11 spots from a year earlier. The move was fueled by a forecast for further tightening in vacancy and minimal supply growth. Robust job growth pushed Seattle-Tacoma seven spots higher to place second on the list.
The low-income housing tax credit (LIHTC) has helped house millions, and it remains a vital driver of development. The 30-year track record of the LIHTC offers compelling evidence that affordable housing is good business, a stable asset class, and a strong driver of economic activity and neighborhood improvement.
As the Denver metropolitan area has topped 3 million residents, potentially accelerating toward 4 million, a sustainable land use template for future mobility and economic, social, and environmental health is emerging within the framework of the 122-mile (196 km) FasTracks rail and bus rapid transit network, which includes expansion with five new transit lines this year. A ULI Colorado event in early November attracted participants from Colorado and beyond to tour various transit-oriented development sites and hear about lessons learned and future trends.
A new report from the ULI Terwilliger Center says that U.S. suburban housing markets are well positioned to remain preferred places to live and work over the coming decades, even as urban cores and downtown neighborhoods continue to attract new residents.
With no end in sight to the boom in urban and close-in suburban multifamily housing construction, developers are eager for ways to save money on ever-increasing land and construction costs. Experts speaking at the 2016 ULI Fall Meeting said that reducing parking requirements and increasing use wood-frame construction for buildings up to five stories could help keep costs in check.
South Quarter IV, a housing development in Minneapolis, has been selected by the ULI Terwilliger Center for Housing as the winner of the 2016 Jack Kemp Excellence in Affordable and Workforce Housing Award.
The city of Chicago’s Troubled Building Initiative was selected by the ULI Terwilliger Center for Housing as the winner of the 2016 Robert C. Larson Housing Policy Leadership Award, an annual recognition of the innovative ways the public sector is addressing the country’s affordable housing crisis.
At least 5.5 million units of naturally occurring affordable rental housing exist in cities across the United States, according to newly released data from CoStar, a leading provider of data and analytics for the commercial real estate industry. In an age of dwindling public subsidies for affordable housing, the concept of preserving naturally occurring affordable housing (NOAH) is gaining currency.