How missed rent payments could affect the affordable housing supply
According to the insurance company LeaseLock, by mid-July owners of Class C buildings had collected only 37% of rent, down from 54% as of mid-June. Those most affected by unemployment and layoffs are also residents of Class C apartments. And when those tenants can’t pay, their landlords may have to sell or face foreclosure, permanently reducing the stock of affordable housing.
Marketplace • August 12, 2020
The other people facing housing woes amid pandemic: Mom and pop landlords
Many landlords understand tenants’ needs during this time. But if they can’t meet their own financial obligations, it could have “a cascading effect ... the likes of which this country has never seen,” says one landlord advocate.
Christian Science Monitor • August 6, 2020
'Blueprint for the future:' How economic, public health crises could reshape New York City's rezoning process
As New York City looks toward its recovery, the future of the city's land use policies — standing at the intersection of a social, economic and public health crisis — is taking center stage.
Bisnow • August 10, 2020
‘We’re getting new homes built.’ Facebook fund backs nearly 600 affordable homes
Facebook's Catalyst Housing Fund provided an update on the program’s progress for the first time since its launch four years ago. The fund is helping developers build, rehabilitate or preserve nearly 600 units of affordable housing near its Menlo Park headquarters. The fund started with $18.5 million from Facebook, and the fund manager Local Initiatives Support Corp. (LISC) has used that to raise an additional $28 million in outside loans.
Mercury News • August 5, 2020
Booming ‘Zoom towns’ should ease city housing costs
With highly paid remote workers looking as if they’ll stay put in vacation spots, pricey urban areas might become more affordable.
Bloomberg • August 5, 2020
Nuveen raises $500M for multifamily, industrial funds
Nuveen Real Estate has raised an additional $500 million across its US Cities Multifamily Fund and US Cities Industrial Fund.
Globe Street • August 12, 2020