Michael Hoban

Michael Hoban is a Boston-based commercial real estate and AEC writer and founder and principal of Hoban Communications. Contact him at [email protected].

With the trend toward urbanization increasingly pricing families out of housing in cities, one solution to the problem would be to simply construct more affordable multifamily housing stock in the suburbs.
Panelists at the recent ULI Housing Opportunity Conference discussed the impediments to low- to moderate-income wage earners achieving homeownership, saying that most large lenders and many regional and smaller lenders have lost their ability to originate layered mortgages, due to the increased complexity of the new regulatory environment.
Speaking at the recent ULI Housing Opportunity Conference, Rick Haughey, vice president of industry technology initiatives at the Washington, D.C.–based National Multifamily Housing Council, likened the wiring of the United States to the internet to the early development of the nation’s highways, but as a cautionary tale, creating unintended winners and losers in the process.
Despite a regional economy that is faring better than that in much of the United States, many of New England’s major cities are struggling to provide enough affordable housing for their middle-income workforce.
According to a report by Harvard’s Joint Center for Housing Studies, the United States has seen an unprecedented increase in those living in rental housing, with nearly 9 million rental households added since 2005. While private lending has increased in the sector, new construction is largely focused on the higher end of the market.
Despite the record harsh winter of 2014–2015 that dumped 111 inches (281 cm) of snow on the city of Boston and the not-so-distant (2012) memory of the near-hit of Hurricane Sandy, instituting measures to safeguard against the effects of climate change and rising seas will not be an easy sell with the region’s utilities, property owners, government agencies, or general public.
A development in Boston is the first of the five initial Choice Neighborhoods projects to be completed when HUD Secretary Julián Castro cut the ribbon on Quincy Heights, a 129-unit scattered-site housing redevelopment in Dorchester’s Quincy Corridor.
While the amount of public financing that would be required to stage the 2024 Summer Olympic Games in Boston remains an open question, ULI Boston/New England recently hosted a panel discussion focused on how such bids have paved the way for badly needed infrastructure and development projects in other cities.
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