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August 13, 2014

Passé Parking Policies Limit Downtown Housing for Families

Young, single Millennials are fueling today’s demand for studio and one-bedroom apartments in hyper urban locations. But what happens when they finally decide to head down the aisle? Cities will need to find ways to meet these changing needs—or face the possibility of their downtowns emptying out as fast as they filled up.

But building affordable, urban housing for families comes with its challenges. However, parking policies are one hurdle that could be mitigated with smarter planning. With below-grade parking costing up to $35,000 per stall to develop, the trick is to figure out how to efficiently unbundle parking requirements from living space needs.

Find some extra 9’x18’ inspiration with this group of architects’ design fix for New York’s retro parking requirements. Veritable taxonomy of parking solutions included.

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STUDENT HOUSING

New Student Housing Design Goes All Out

Get pumped for the 12th annual 2014 NMHC Student Housing Conference & Exposition this fall with a primer on the latest trends in student housing development and design. Bottom line: Go big or go home when it comes to student housing amenity packages.

POLICY

FHA Commissioner Galante to Leave HUD

Federal Housing Administration Commissioner Carol Galante announced she will leave the U.S. Department of Housing and Urban Development toward the end of the year. Galante had previously served as the administration’s deputy assistant secretary for multifamily housing. Many housing groups applauded her work. Check out what NMHC had to say here.

RESOURCES

Connect with Other HR and Research Professionals with NMHC’s Listservs

NMHC recently refreshed its email listserv platform, giving NMHC members a better place to join the conversation on emerging issues in both human resources management and multifamily research. Members are welcome to join one or both listservs. New to the listservs? Haven’t visited in a while? Here’s how to get started.

REVENUE MANAGEMENT

How Renting an Apartment Is Becoming Like Buying a Plane Ticket

A look at how the widespread use of revenue management software in one local market is pushing apartment seekers to change the way they look for apartments—and transforming the metrics providers and analysts use to benchmark performance. Also related: Tips on revenue management best practices from the hotel pros.

ON-SITE OPERATIONS

Summer’s a Great Time for Resident Appreciation

The last days of summer may be rapidly approaching, but there’s still time to organize a resident appreciation week or special event to say thanks for the continued business. Get armed with a few ideas from this Multifamily Insider’s blog.
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Rising Rental Costs in Midsize Cities Take Bigger Bite Out of Income

NMHC’s Fall Board Meeting Features All-Star Speakers, Including TIME Editor Mike Murphy and Steve Jobs Biographer Walter Isaacson

Sizzling Tech Economy Fuels Urban Renaissance

Trends Show Outlook for Multifamily Sector Is Bright

Home Properties Plans to Shift Focus Away from New Construction, Toward Rehab Opportunities

New York Start-Up Wants to Pay Residents for the Views from Their Apartment Windows

Brookfield in Contract for $1B Upper Manhattan Apartment Portfolio

Essex Steps Up Acquisition Efforts in Northern California

Multifamily FourSight: Is the Internet of Everything the Next Big Thing in Technology for Apartments?

The Case for Why Good Renters Deserve Better Credit Scores

Houston-based Real Estate Company Plans to Grow Student Housing Operations, Expand into Traditional Multifamily

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About Apartment Wire
A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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NEXT MONTH

2014 NMHC Fall Board of Directors and Advisory Meeting
September 16-18 , 2014
The Fairmont Hotel in Washington, DC

2014 NMHC Student Housing Conference & Exposition
September 30 - October 2, 2014
Palmer House Hilton in Chicago, IL

NOVEMBER

2014 NMHC Optech Conference & Exposition
November 17 - 19, 2014
Hilton Orlando Bonnet Creek in Orlando, FL

2014 NMHC Human Resources Forum
November 19, 2014
Hilton Orlando Bonnet Creek in Orlando, FL

2014 NMHC Risk Management Forum
November 19, 2014
Hilton Orlando Bonnet Creek in Orlando, FL
 

 

Multifamily Market Dashboard

Majority of Renters Rely Solely on Cell Phones for Communications

Residents’ expectations of cell service connectivity have evolved dramatically in recent years, as more people have forgone landline telephones for at-home communication needs.

In fact, roughly two in five American households have only wireless telephone service at home, according to recently released data from the National Center for Health Statistics. And the number is even higher for renters (see Fig. 1).

This fact underscores how critical cellular connectivity is in apartment communities, where residents’ decisions to sign or renew leases could be influenced by how many bars of service they get.

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