Greystar’s Post

In the first couple months of 2024, San Francisco issued permits for only 7 housing units. In contrast, for just the month of February, Austin issued permits for over 2,000 housing units. Austin has been paving the way by a pretty big margin when it comes to constructing multifamily housing. It's even gotten to a point where some neighborhoods have experienced rents stabilizing or even decreasing due to supply catching up with demand. It's a shame that cities like San Francisco and New York, notorious for being expensive, have fallen so far behind in building housing. #urbanplanning #housing

“Home Without the Hassle.” Feeling so blessed to be a part of the incredible team at Cavan Companies. Cavan Companies has been a leading Arizona Real Estate Developer for 49+ years in the valley. Now we are expanding into Nebraska, New Mexico and Missouri. Being in the Arizona real estate industry for more than 30 years now, I have seen so many ups, downs and changes in the Phoenix metro. Arizona (and the rest of the U.S.) is facing a substantial shortage of affordable housing to purchase. Because of this crisis, rental housing is booming. But there are drawbacks to living in traditional multi-story apartment housing. The people that need housing are not just single people looking for homes. These are single parents, people with elderly family members to care for and families with children too. Cavan Companies recognized this need in the marketplace and we are meeting it with The Bungalows! Cavan Companies currently has 15+ projects in development like the Bungslows at Norterra. We build communities of homes that rent like apartments. These are 1, 2 and 3 bedroom homes with luxury amenities, back yards, 10 foot ceilings, high end fixtures/design, full size laundry rooms, garages and no shared walls. “Home without the hassle.” This is the FUTURE of housing. I’ll share more about some stats in my next post. Our Nebraska projects currently have a few open slots for investment. Reach out to me for info. #cavancompanies #buildforrentinvestments #thebungalows

Multifamily News: Lexington will revise its zoning to allow for more types of housing in more areas. This is the largest one-time change to the city’s zoning plan since 1983. "Rents for apartments and houses have also skyrocketed over the past decade in Lexington and most major cities across the country. Allowing different types of housing in more areas will alleviate the housing shortage, Lexington city planners have argued. One of the proposed changes would allow builders who build affordable or workforce housing — the so-called “missing middle housing” — a density bonus. If those builders can demonstrate that these units are affordable, they can move up one zone. For example, if the zone is an R3 zone, an affordable housing developer could move to an R4 zone, allowing for more units per acre." https://lnkd.in/er2aAT_E

Well the Thunder Bay parkette issue has made the news in Hamilton-a city with its own housing challenges. Last night’s Thunder Bay City council meeting mentioned that the five parkettes should generate 45 units of housing - which does seem a rather minor amount given the ambitious targets set (1691 units by 2027). However it also means each of those sites will get a four or six plex. What also came out is that there is a list of forty sites which will generate even more debate and these five are just the first. One imagines that some of these sites owned by the city are quite a bit larger. There are large underused green spaces in a number of residential subdivisions near the hospital for example that could probably generate several hundred density/apartment style homes. Why the piecemeal small potatoes approach? Why not go for more? You are not going to solve Thunder Bay’s affordable housing crisis by building four plexes that rent units for $2500 a month. You also do not build meaningful density with a fourplex in a residential crescent that requires driving everywhere. You build density with geared to income high rises in downtown core areas. Where is the urban vision? #housing #thunderbay #density

The City's aging housing stock, like Barrington Plaza, designed and constructed in the 1950s, faces more obstacles. Renter influenced City Council supported nation's longest Eviction Moratorium, uses Homeless bond construction monies for late payment of rent, overtly influences Los Angeles City Planning and votes in rent increases that don't keep pace with increased operating expenses. Latest Anti-Development Play: City Denies That Upgrades Are Needed Amidst LA’s Largest Rent-Controlled Housing Eviction in 40 Years. 65% renters in aging housing stock will have fewer, safe, affordable options as developers increasingly redline #LosAngels. https://lnkd.in/gmx5q9A7

Should Metro explore buying up existing apartments as a way to fix the region's low-income housing problem? Gary Fisher, Executive Director of Multifamily NW spoke with the Willamette Week's Sophie Peel, “Apartment sales are at record lows—and if Metro sees an opportunity to get more people into supportive housing faster, they should take it. With permitting times lagging around the Portland metro region and development costs soaring, it certainly seems like purchasing existing units is a more efficient use of taxpayer resources.” What are your thoughts? You can read the full article here - https://lnkd.in/gwFHys7G #orhousing #pdxhousing

🌟 Why Polk County, FL is Becoming the New Hotspot! 🌟 Curious about why Polk County is seeing such a surge in residents? It’s not just a coincidence! 🏡✨ Polk County is leading the nation in population growth, and it's easy to see why. Nestled in the heart of Central Florida, this area offers a unique blend of affordability, convenience, and charm that’s attracting homebuyers from all corners of the country. 📈 Affordable Living: While many areas in Central Florida are seeing skyrocketing home prices, Polk County stands out for its affordability. This makes it an ideal spot for those looking to enjoy the Florida lifestyle without breaking the bank. In fact, the median home price in Polk County is often lower than neighboring counties, offering incredible value. 🏘️ New Construction Boom: With 150+ new construction communities sprouting up, Polk County is a hotspot for brand-new homes. New constructions often come with attractive features like modern designs, energy-efficient appliances, and customizable options. Plus, builders are offering competitive interest rates and incentives to attract buyers, making it an even more appealing option. 🌳 Location Benefits: Polk County is strategically located between Tampa and Orlando, providing easy access to major cities and their amenities while maintaining a peaceful, suburban feel. The area also boasts beautiful natural landscapes, including numerous lakes and parks, which enhance the quality of life. 🎯 Growing Amenities: The county is expanding its infrastructure, including new schools, shopping centers, and recreational facilities. This growth ensures that residents have everything they need within reach, contributing to the overall desirability of the area. Don’t miss out on the chance to be part of this exciting growth! For more details about new construction homes in Polk County, click the link in my bio. Explore your options and discover why so many people are choosing to call Polk County home. #PolkCounty #NewConstruction #AffordableLiving #FloridaRealEstate

Are you involved in #Multifamily real estate? Whether you #own properties or new to #investing in them, I'd enjoy connecting and explore potential opportunities to collaborate. Let's #JoinForces and see how we can create value together

The insight about the nature of the existing housing stock impacting the appetite for new housing without parking from Henry Grabar, is so spot on! Now that NYC is going to have more housing without parking spots, the transportation community needs to step up with policies and infrastructure that make that work. Many great ideas were explored and proposed by the great students at Hunter Urban Policy and Planning. See more here: https://lnkd.in/gUYbsdYF

Can you guess which U.S. cities have the highest & lowest rents for a one-bedroom apartment in 2024? 🤔 (the list is more surprising than you'd think!) Cities with the highest rents in 2024 📈 New York, NY - $4,200 Jersey City, NJ - $3,330 San Francisco, CA - $2,950 Boston, MA - $2,830 Miami, FL - $2,770 San Jose, CA - $2,570 Arlington, VA - $2,380 San Diego, CA - $2,370 Washington, DC - $2,300 Los Angeles, CA - $2,300 Cities with the lowest rents in 2024 📉 Wichita, Kansas - $693 El Paso, Texas - $825 St. Louis, Missouri - $825 Oklahoma City, Oklahoma: $850 Tulsa, Oklahoma - $895 Memphis, Tennessee - $899 Milwaukee, Wisconsin - $900 Omaha, Nebraska - $920 Albuquerque, New Mexico - $950 Buffalo, New York - $1,080 #realestate #realestateinvesting