Growth Capital Group’s Post

You’ve probably heard the buzzword “missing middle housing,” but what exactly does it mean? Essentially, it refers to the types of housing that fall between single-family homes and larger apartment buildings, typically including duplexes, triplexes, and up to three-story walk-ups. The term “missing middle” stems from the fact that, for a long time, it was much simpler and more economical to build single-family homes. Anything more complex, like a duplex, was almost as complicated and costly as constructing a six-story condo development. The economies of scale just weren’t there, making these types of housing less appealing for developers. However, things are changing. Governments are reducing red tape and promoting the development of missing middle housing, making it a more viable and attractive option. That’s why you’re seeing more of these projects pop up recently. Here in Victoria, we focus on missing middle housing because it’s now becoming economically viable and addresses a crucial need for diverse housing options. Let me know what questions you have about Missing Middle, and I would love to answer them! #MissingMiddleHousing #VictoriaBC #SustainableLiving #UrbanDevelopment #CommunityGrowth #HousingSolutions #EcoFriendlyLiving #VictoriaBCRealEstate #LandDevelopmentVictoria #InvestInVictoria #VictoriaBCInvestments #EcoFriendlyHousing #RealEstateOpportunities #SustainableDevelopment #GreenHousingProjects #PropertyInvestments #RealEstatePartners #DevelopWithDale #VictoriaPropertyDeals #InvestmentPartners #FutureOfHousing #VictoriaBCGrowth #HousingInnovations #EcoInvesting #VictoriaBCProjects #RealEstateInvestors #CollaborativeDevelopment

🏡 REAL ESTATE NEWS: White House Unveils $100M Housing Plan! 🏡💰 Exciting news for the housing market as the White House announces a groundbreaking $100M plan to boost housing across the nation. Here are the key highlights: 🏠 Affordable Housing: A significant portion of the funds will be allocated to increase the availability of affordable homes. 🏗️ New Construction: The plan aims to kickstart new construction projects, helping to address the housing shortage. 🔨 Renovation and Repair: Existing homes will receive much-needed renovations, ensuring safe and quality living conditions. 🌍 Sustainability: Emphasis on building energy-efficient homes to reduce the environmental impact and lower utility costs. 🤝 Community Focus: Collaborations with local governments and organizations to ensure the funds reach the areas that need it most. This ambitious plan is set to make a significant impact on the housing landscape, providing more opportunities for homeownership. Stay tuned for more updates! 📰 #HousingPlan #AffordableHomes #Homeownership - #miami #southflorida #southfloridaliving #homes #soflo #florida #realtor #realestate #realty #miamirealestate #realestateagent #luxury #luxuryrealestate #luxuryliving #homeowner #investment #waterfront #cocoplum #coralgables #pinecrest #coconutgrove #sheltonandstewart @anamattsonrealtor @therealfloridarealtors - https://lnkd.in/edPW_aky

"Labour's affordable housing plan 'needs to be more flexible'" - a bold headline for my debut in The Times but one that resonates with my opinion on the matter. We need to deliver more high quality sustainable housing (the high quality AND sustainable part is critical) and we clearly need to deliver more affordable housing, so that it can be easily accessed by everyone, no matter their position. Setting ambitious targets is a positive start and supporting this with innovative ideas like the Grey Belt is even better. However... deliverability is key. To expect that all grey belt sites will be able to deliver 50% affordable housing, is unrealistic. What ultimately determines the number and quality of homes that might be delivered is the viability of development sites. The majority of our homes are delivered by the private sector and no developer will be able to acquire land or gain funding if sites can't be made to stack up financially. The reality is that affordable housing costs developers nearly the same to build as private housing, but it only generates a fraction of the revenue (which in turn leads to much lower land values). An inflexible 50% affordable housing requirement could easily render a huge proportion of grey belt sites unviable therefore leading to the delivery of no homes at all, either private or affordable. I wanted to support my view with accurate data, so I let Viability loose on potential Grey Belt sites in the London Green Belt to quickly and accurately assess site viability. The conclusion - dropping the affordable housing requirement to 35% resulted in an overall increase in affordable housing delivery of 44%. Let me know your thoughts! #property #propertydevelopment #development #homebuilding #land #planning #affordablehousing #thetimes

At the 1RealEstateWorld | 2024 Global Real Estate Conference, Mark Grinis, EY’s Global Real Estate, Hospitality & Construction Leader, will present "Housing Policy: A Roadmap to Recovery", offering actionable insights on addressing today’s housing challenges. Grinis identifies the 2008 financial crisis and the COVID-19 pandemic as critical inflection points that have exacerbated the affordability and supply crisis. Housing affordability remains a major issue, with the median home price now five times the median income, making it increasingly difficult for many to access homeownership. Grinis emphasizes that affordability is not just a matter of increasing supply; it requires targeted policies, such as zoning reforms and financial incentives, to ensure that housing meets the needs of all income levels. Case studies from cities like New York and Minneapolis illustrate how public-private collaboration can address supply shortages through creative solutions like office-to-residential conversions and zoning changes that enable higher-density housing. Mark Grinis will advocate for public policy as a key lever for driving change, emphasizing zoning reform, incentives for affordable housing, and streamlined permitting processes as essential components of a recovery strategy. The session underscores the importance of collaborative action to create a sustainable, affordable housing future. https://buff.ly/4dJ7LnC Sydney Conway Kyle Madura

There is some interesting data here folks, that may well inform where you should be investing in 2024 and beyond. #buyersagent #buyersadvocate #propertyinvesting #infrastructure #propertyadvisor

Did you know❓ Multifamily housing has been a critical component of urban and suburban development while also offering several benefits vital in modern urban planning: 1. High-Density Living: Multifamily housing allows for higher population densities, which is essential for urban areas where space is limited. By accommodating more people in a smaller area, cities can maximize land use efficiency. 2. Affordable Housing Options: In growing cities, where housing demand can outstrip supply, multifamily units can help meet the need for affordable housing, particularly for young professionals and families. 3. Adaptability to Changing Needs: Multifamily developments can be more easily adapted or repurposed to meet changing demographic and economic needs. For example, older buildings can be converted into mixed-use spaces, combining residential, commercial, and office use. As cities continue to grow, the demand for multifamily housing is expected to remain strong. These developments are not just a response to the housing crisis but also a strategic approach to creating more livable, sustainable, and resilient urban environments. #multifamilyconstruction #multifamilyrealestate #multifamily #cbi #cbiconstructionservices

We need to reconsider the high-rise limit for residential buildings. The cost per sq. ft. is increasing due to added expenses at the current limit of 7 stories. The high-rise rules make sense, but it also makes sense to increase the limit. I agree with you, but I think we need all these forms of housing. One way to achieve that is by reworking building codes to align with the technological advances we've had in fire and life safety.

This quite an interesting analysis, with the caveat that urban settings will push the number of stories required to make a project work financially to the high end. (As one astute commenter says, to spread the cost of the land over more SF.) Perhaps in an urban setting the 7 story building, which with current building codes in DC would be required to be Type IB, concrete or steel, could instead be Mass Timber? The value of a 7 story building, with the ease of construction of wood, and the speed of factory production for the structure. When DC adopts the 2021 building codes it could really expand city housing.

🏗️ Unlocking Potential Through Rezoning and Entitlements 🏗️ At Stark Investments, we believe that strategic property enhancement goes beyond renovations and upgrades. One of the most impactful value-add strategies is leveraging rezoning and entitlements to unlock a property's full potential and maximize returns. 🌟 Key Value-Add Strategies through Rezoning and Entitlements: 1. Increased Density: Rezoning allows us to develop properties with higher density options, maximizing rental income potential while meeting the demand for more housing in urban settings. 2. Mixed-Use Developments: Obtaining entitlements for mixed-use developments can create vibrant communities that combine residential, retail, and commercial spaces. This fosters a sense of community while diversifying income streams. 3. Enhanced Property Use: Reevaluating the zoning of a property can permit diverse uses, such as converting obsolete buildings into multifamily residences, transforming underutilized spaces into thriving living environments. 4. Community Focus: Engaging with local stakeholders during the rezoning process can lead to community-supported developments that align with neighborhood needs, enhancing property value and tenant satisfaction. 5. Long-Term Gains: By investing in rezoning efforts, we not only enhance the immediate value of our properties but also secure long-term growth potential for future developments in line with market trends. By embracing rezoning and entitlements as a core strategy, we position our investments for greater profitability while contributing positively to the communities we serve. Together, let's continue to explore new horizons for growth and value creation! #ValueAddStrategies #Rezoning #Entitlements #MultifamilyInvestment #RealEstateDevelopment #CommunityEngagement #SustainableGrowth