As NJ’s urban areas get all the attention around transit-oriented development, it’s easy to overlook the Garden State’s rural counties when it comes to multifamily construction and access to public transportation. Yet Hunterdon and Warren counties prove that developers will take notice given the right location and demand backdrop. Since 2019, rural multifamily inventory has grown 14%, most of it in Hunterdon County. Here, almost half of the new apartments built in the past five years are under two miles from a train station on the Raritan Valley Line. Strong renter demand momentum has helped as the area has seen positive absorption since 2020, a trend expected to continue through this year. #newjersey #hunterdoncounty #njtransit #multifamily #construction #costar
Mateusz Wnek’s Post
More Relevant Posts
-
How to house the “missing middle” and fill the gap in housing supply (by fixing why it’s broken, ie. doesn’t pencil, so doesn’t get built enough & fast enough to close the gap.)
Fantastic paper from Terner Center for Housing Innovation highlights the changes needed to make middle housing types such as duplexes, fourplexes and other low-rise multifamily home types feasible to build. As we've learned from ADU reform efforts, zoning changes are just the beginning. Key recommendations include: 🏡 Revise Building Codes: Aligning 3-10 unit middle housing projects with residential codes, as seen in Memphis and North Carolina, can cut costs. Allowing smaller lot sizes and single-stairway access improves design efficiency and also lowers costs 💸 Financial Relief: Reducing impact fees for middle housing or deferring fees until occupancy can make more projects feasible to build 🚗 Reduce Parking Requirements: encouraging transit-friendly housing developments can further lower expenses 🔄 Create Incentives: Simplified subdivision process, favorable construction loan terms, and predictable permitting are crucial for scaling up missing middle housing Read more: https://lnkd.in/eMU96DFH #ADUs #MiddleHousing #BuildTheMiddle
-
-
Retired - Executive Director at Redevelopment Authority of the City of Bethlehem Retired - Director of Community and Economic Development City of Bethlehem
Great paper on missing middle housing. Increasing supply in that sector is part of the affordable housing solution.
Fantastic paper from Terner Center for Housing Innovation highlights the changes needed to make middle housing types such as duplexes, fourplexes and other low-rise multifamily home types feasible to build. As we've learned from ADU reform efforts, zoning changes are just the beginning. Key recommendations include: 🏡 Revise Building Codes: Aligning 3-10 unit middle housing projects with residential codes, as seen in Memphis and North Carolina, can cut costs. Allowing smaller lot sizes and single-stairway access improves design efficiency and also lowers costs 💸 Financial Relief: Reducing impact fees for middle housing or deferring fees until occupancy can make more projects feasible to build 🚗 Reduce Parking Requirements: encouraging transit-friendly housing developments can further lower expenses 🔄 Create Incentives: Simplified subdivision process, favorable construction loan terms, and predictable permitting are crucial for scaling up missing middle housing Read more: https://lnkd.in/eMU96DFH #ADUs #MiddleHousing #BuildTheMiddle
-
-
How to house the “missing middle” and fill the gap in housing supply (by fixing why it’s broken, ie. doesn’t pencil, so doesn’t get built enough & fast enough to close the gap.)
Fantastic paper from Terner Center for Housing Innovation highlights the changes needed to make middle housing types such as duplexes, fourplexes and other low-rise multifamily home types feasible to build. As we've learned from ADU reform efforts, zoning changes are just the beginning. Key recommendations include: 🏡 Revise Building Codes: Aligning 3-10 unit middle housing projects with residential codes, as seen in Memphis and North Carolina, can cut costs. Allowing smaller lot sizes and single-stairway access improves design efficiency and also lowers costs 💸 Financial Relief: Reducing impact fees for middle housing or deferring fees until occupancy can make more projects feasible to build 🚗 Reduce Parking Requirements: encouraging transit-friendly housing developments can further lower expenses 🔄 Create Incentives: Simplified subdivision process, favorable construction loan terms, and predictable permitting are crucial for scaling up missing middle housing Read more: https://lnkd.in/eMU96DFH #ADUs #MiddleHousing #BuildTheMiddle
-
-
Development Potential: Ideal for investors or developers due to its location and site preparedness in a rapidly expanding area with growing commercial and residential demand. Zoning Flexibility: No zoning restrictions in Alvin, allowing for a variety of commercial or residential development opportunities. Site Readiness: The land is cleared and includes key infrastructure. A large retention pond (approx. 240' x 185') A dirt pad (approx. 4,820 cubic yard) Road Infrastructure: The property has access via a gravel road, with an unimproved public road easement confirmed by city engineering. Developers can dedicate an additional 30 feet for a 60-foot-wide right-of-way and build a road to city standards, which the City of Alvin would maintain upon completion. Location: 13.98 acres in a fast-growing area within the City of Alvin, bordering Manvel, Texas on Highway 6. Julie Nash Realtor® 713.299.2875 NashJ@AM-RealEstateGroup.com #development #developer #RealEstate #InvestmentOpportunity #investing #landforsale
-
Multi-family construction has sped up in the past few years to address the nationwide housing shortage. However, the areas with the most growth tended to be larger urban areas with significant multi-family developments. Still, construction is also speeding up in the Intermountain West region, where multi-family development rates are typically lower. For example, according to Construction Coverage, in our home base of Salt Lake City, Utah, 60.5% of new housing units authorized in 2022 were multi-family structures. This pace places the city among the top metro areas for multi-family development in the U.S. We’re excited to see more multi-family development in our region to help address housing shortages.
-
-
Experienced City Manager, Public Administrator, Author, Former Elected Official, Government Technology Industry Advisor
How Zoning Policies Affect the Housing Supply: City of Denver Case Study AEI Study Just Released. I uploaded a PDF of their findings. Summary: “The City of Denver switched to a new zoning code in June 2010. Most areas were upzoned, but some were downzoned. Overall, the policy encouraged housing construction in Denver. Compared to the entire state or the nation, Denver experienced a massive building boom after 2010. Before then, Denver had always been a bit of a laggard in construction activity. We find the same trends for only larger Colorado cities (shown in the appendix). Most of the new units built were townhomes and multifamily units.” Too much? Too little? Right or wrong approach for your city? #UrbanLiving #HousingCrisis #Zoning #Planners
-
Townhouse construction has surged since 2009, recently reaching a record share of new housing starts. This trend highlights the challenges of affordability and rising construction costs. However, growth varies by region. Zonda's data reveals: - Atlanta leads in total townhouse projects but is down 20% since 2019. - Washington, DC and Seattle have similar project counts, though trends are moving in opposite directions. - Minneapolis, which abolished single-family zoning laws, has seen townhome construction soar nearly 150% since 2019. Follow NWM Risk Management to learn about more construction industry trends. #housingstarts #townhomes #multifamily
-
-
Fantastic paper from Terner Center for Housing Innovation highlights the changes needed to make middle housing types such as duplexes, fourplexes and other low-rise multifamily home types feasible to build. As we've learned from ADU reform efforts, zoning changes are just the beginning. Key recommendations include: 🏡 Revise Building Codes: Aligning 3-10 unit middle housing projects with residential codes, as seen in Memphis and North Carolina, can cut costs. Allowing smaller lot sizes and single-stairway access improves design efficiency and also lowers costs 💸 Financial Relief: Reducing impact fees for middle housing or deferring fees until occupancy can make more projects feasible to build 🚗 Reduce Parking Requirements: encouraging transit-friendly housing developments can further lower expenses 🔄 Create Incentives: Simplified subdivision process, favorable construction loan terms, and predictable permitting are crucial for scaling up missing middle housing Read more: https://lnkd.in/eMU96DFH #ADUs #MiddleHousing #BuildTheMiddle
-
-
Let's talk about the new construction boom in Philadelphia... If you’ve been to neighborhoods like Fishtown and Northern Liberties recently, you’ve probably noticed the surge of new construction projects popping up in places like Delaware Ave., Front St, etc. Over the past few years, these areas have become prime spots for developers looking to take advantage of the city’s favorable zoning laws and development incentives in transit-friendly neighborhoods. The result? A wave of new residential units flooding the market. In the short term, renters can benefit from better deals and more options. But for developers and property owners, it raises concerns around vacancy rates and ROI. Is the current pace of development sustainable? Could continued oversupply hinder the overall growth and appeal of these neighborhoods? How might this affect older properties in the area? Thoughts?
-
On a mission to help entrepreneurs | grow their business. Sharing content about marketing & AI | Posting about the journey as an Industry Speaker & Trainer
Caught up with the Acton zoning debacle? The AG’s suit against Acton isn't just notable news, it throws the spotlight on a crucial and often overlooked aspect of Boston real estate - zoning for transit-oriented developments. The situation begs the question - Is your real estate strategy in sync with the region's transit network? Do your plans align with the Baker administration’s ‘Housing Choice’ bill encouraging dense housing near public transit? Challenges in obtaining zoning approvals like in Acton could potentially impact your projects. But, fear not! Joe Turco from eXp Realty has navigated these complexities successfully for years. He’ll expertly guide your real estate journey, ensuring your ambitious project doesn't fall prey to zoning issues. Let’s make sure the only headlines you make are for your groundbreaking achievements! 🏗️ #BostonRealEstate #Boston #BostonRealtor #eXpRealty #BostonCondo #BostonHome #MovemetoBoston
