Weekly Roundup: April 24
From Multi-Housing News: April 19
The Rewards of Green Financing
Fannie Mae’s multifamily chief explains how dedicating capital to measures that save energy and water pay off, especially in the affordable sector.
Harvard University’s Joint Center for Housing Studies says utility costs represent some 15 percent of income for renters with incomes below $15,000, but just one percent for those with incomes of $75,000 or more.
Green financing allows owners to cut operating expenses and extend the life of the property. Over 80 percent of the units we finance are affordable for working families, and greening those buildings can mean lower utility bills for tenants.
From The Philadelphia Tribune: April 21
Renovated apartments lauded as affordable housing option
A renovated apartment building is being hailed as a way to preserve affordable housing in Philadelphia’s changing Mantua neighborhood.
Officials cut the ribbon this week on the renovated Mt. Vernon Manor II apartments, a 46-unit development located at 34th and Wallace streets in Mantua. The apartments had been vacant since 2013 and were formerly blighted and uninhabitable.
The $13 million redevelopment project is a continuation of the We Are Mantua neighborhood plan created by community stakeholders, including nonprofit partner Mt. Vernon Manor, Inc.
From Multi-Housing News: April 26
Economy Watch: Worker Shortage Puts Clamp on Construction Hiring
Only 17 states added construction jobs in March, according to a recent Associated General Contractors of America analysis. While contractors in most states remain busy, they worry about being able to find enough workers to complete projects in the future.