It’s Ten Days of Buzz! This week, we’ve got next-gen amenities, new apartment construction, renter’s tax credits and multifamily investments…enjoy!
“Apartments have undergone a metamorphosis in just the past few years. Developers are using more exotic combinations of materials on their building exteriors than we’ve ever seen.”
Dupre + Scott. Apartment Advisor – the Development Issue, DupreScott.com, 8.2012. (Bonus: check back next week for a rundown on the latest Apartment Advisor!)
“Permits for the construction of new apartments are up 110 per cent relative to 2009 compared with a 26 per cent rise in overall construction permits. One-in-three construction permits issued this year is to build an apartment whereas a decade ago the figure was less than one-in-five.”
Robin Harding, Contributor. New apartments boost US building sector, The Financial Times, 8.11.12.
“Its value would lift 250,000 families out of poverty and lift four of five of the poorest families it assists out of deep poverty.”
The Center on Budget and Policy Priorities, in a new report. Policy Center Proposes Renters’ Tax Credit, HousingFinance.com, 8.12.12.
“When the construction dust settles sometime next year on a new generation of apartment communities going up in Franklin, there will be yoga rooms, java lounges, pet spas and outdoor TVs, in addition to the apartments themselves.”
Nancy Mueller, contributor. Newest apartment units overflow with amenities, The Tennessean, 8.14.12.
“According to new housing construction and housing starts data released today by the US Census Bureau, multifamily housing starts in the U.S. West region hit a six-year high and there were approximately 19,300 housing units of all types started in the West during July 2012.”
Ryan McMaken, Contributor. Multifamily starts hit 6-year high in West region of US, Examiner.com, 8.15.2012.
“As the property markets are stabilizing and occupancy rates are going up and the tenants are doing better, that gives more stability to these investments and that makes them more attractive.”
Jeffrey Ackerman, Managing Director at CBRE Group Inc. Commercial Rebounding With Less-Than-$5 Million Sales, Bloomberg News, 8.16.12.
“All of the factors that would cause us to do more deals are here. You have to take a little risk on apartments, but it will pay off…there are 80 million gen Y kids that want to live in apartments.”
Stephan Kachani, VP of sales at Lone Oak Fund. Good Time to Invest in Multifamily Development, GlobeSt.com, 8/17/12.
“Rents rose 0.2 percent to $1,278 nationwide during the month of July and were up 5.4 percent compared to July 2011, according to Zillow’s rent index.”
Jeanne Lang Jones, Contributor. Zillow: Seattle rental prices rising as housing stays flat, The Puget Sound Business Journal, 8.21.12.