As a flood
of new apartment developments opens and the percentage of vacant apartments has started to rise, banks are refusing to lend to weak deals and are lending less on the stronger deals.
Last week, the group Sustainable Saratoga introduced a zoning amendment that would
require new apartment developments to dedicate at least 20 percent of housing stock to «affordable» units.
A special legislative committee of the Buffalo Common Council will hold a public hearing at 5:30 p.m. Tuesday on a proposed law requiring that
new apartment developments set aside a certain percentage of their units as affordable.
It could be
a new apartment development or a commercial building.
Continued positive multifamily demand fundamentals and ready access to capital at attractive rates is fueling a surge in
new apartment development, according to industry executives.
Leading accommodation provider Oaks Hotels & Resorts, a division of Minor Hotel Group (MHG), is set to increase its Brisbane footprint in Q1 2016, having acquired the management and letting rights of Brisbane's
newest apartment development, Radius Apartments, in partnership with Brisbane - based developer Majella.
«In these markets,
new apartment development has slowed way down,» Easley says.
New apartment development is picking up rapidly, with about 8,000 units underway, according to Fannie Mae's Spring 2017 outlook.
Rezoning of
a new apartment development nearby will lower home values in the area by an estimated 15 %.
If an investor is looking to revitalize an existing building or break ground on
a new apartment development in close proximity to existing healthcare facilities, groceries, restaurants, gyms, or theaters, REALTORS ® have the ability to populate maps with visual data showing properties and existing businesses with demographic, economic and spending habits layered underneath to ensure site selection.