What redevelopment opportunities exist now worth pursuing? In eight U.S. regions, redevelopment in urban neighborhoods accounts for between one fourth and one half of all new construction this year, according to the U.S. Environmental Protection Agency. However, the lack of ready sources of capital is forcing developers to partner with city and state governments in creative ways to get projects built.
The Washington, D.C., metro area has emerged from the country’s latest recession relatively unscathed. More important, it has established patterns of development that will help the region achieve further success in the next decade, providing a model for other growth areas around the country. Learn about the varied projects that can serve as models for success in other cities.
Whenever Frank Navarro of Navarro Lowrey, Inc. discusses his experiences in green building with fellow developers, two questions inevitably arise: “How much does it cost?” and “are you getting higher rents?” These two issues—cost and return—are critical for real estate investment and development decision making, yet in the realm of green building, the available data is often mixed or unhelpful. So what can a developer do to ensure his or her investment in sustainable design is a successful one?
In 2009, the median price of an existing single-family home in the United States declined by 12.5 percent, the largest single-year drop since the National Association of Realtors began tracking the number in the late 1960s. But there were pockets of stable values and even rising home prices in every major metropolitan area across the country. The location of these stronger neighborhoods tended to depend on the traditional strengths of the metropolitan area as a whole.
“Resilient” seems to be the best word to describe the U.S. Gulf Coast real estate industry. No matter what Texas, Louisiana, Mississippi, or Alabama experience— natural disasters, economic downturns, or other unforeseen problems—the region seems to bounce back stronger than ever.
The principal of Citadel Realty Advisors and author of the Ross Rant newsletter discusses the private equity markets, including current challenges and what lies ahead.
It seems that everyone in the commercial real estate (CRE) industry is attempting to retool their operations to launch a fund in anticipation of the much-anticipated CRE bust and resulting flood of distressed supply supposedly just over the horizon. But it often is those individuals pitching their new fund—created to capitalize on distressed deals—who in the next sentence say “there are just no deals out there.” Should this raise a red flag?
For the past two years, 96 percent of all financing for housing in the United States has been provided by the federal government. Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) have become the mainstays of financing for both homeownership and rental housing. Since the federal government’s takeover of Fannie Mae and Freddie Mac and the collapse of Lehman Brothers, the private mortgage market has become little more than a memory.
U.S. architects are experimenting with designing net-zero-energy buildings—those that produce as much energy as they consume. Developers around the world are building modular housing to speed construction, reduce on-site labor expenses, and lower development costs. Now, an off-site systems building manufacturer has developed the first modular net-zero-energy townhouses as a demonstration project in Oakland, California.
One of the primary challenges facing U.S. urban and suburban governments is the growing need for high-quality affordable housing. Manufactured-home land-lease communities have played a tremendous role in housing Americans and remain the housing choice of many people, whether because of their affordability or the lifestyle they offer. Over 9 million households with 18 million people live in manufactured homes, and 45 percent of manufactured-home buyers earn less than 80 percent of the area median income. In 2009, manufactured housing accounted for 43 percent of all new homes sold for under $150,000 and 23 percent of all those sold for under $200,000. Since 1989, manufactured housing has accounted for 21 percent of all new family homes sold.