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November 13, 2015
Debate Over EB-5 Financing Heats Up
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With the profile of many of the real estate projects tapping into the federal EB-5 program rising, the financing program is coming under increasing scrutiny in the weeks before a key provision expires on Dec. 11.

Developers have increasingly turned to the program as a source of low-cost liquidity, maxing out the program last year. The program allows foreigners to invest in job-producing real estate projects in exchange for green cards. However, as the program has come to play a role in high visibility development deals such as the $20 billion Hudson Yards project and the final World Trade Center tower, critics argue the program should be scaled back.

Lobbying efforts on both sides of the issue are picking up pace as the renewal date approaches. Get up to speed on the issue and on NMHC’s related lobbying efforts here.

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BIBBY BLOG

On Affordability

The apartment industry cannot afford to be a bystander in the debates over solutions to address growing affordability challenges. Government programs alone cannot meet the need and, without our input, ineffective, misguided or even ill-advised solutions could be put in place.

MEETINGS

Get the Most out of OPTECH 2015

The 2015 NMHC OPTECH kicks off next week in San Diego, offering attendees the opportunity to engage with thought-provoking content and speakers from organizations such as Airbnb, Google, San Diego Padres, MIT Media Lab, as well as numerous leading multifamily firms. Get primed on the agenda prior to touching down on the tarmac and be sure to check out the fun things to do during the downtime

STUDENT HOUSING

International Students Are Major Source of Demand

More than 800,000 foreign students are currently enrolled in U.S. colleges and universities. And their numbers are projected to grow, bolstering demand for private student housing. “We need to cater to other cultures… and have the folks on the ground make sure they are comfortable,” said Brian Veith, director of student housing with NMHC.

LEGAL

Why Playing Music in Your Building Could Be Risky

Under U.S. copyright law, songwriters own the exclusive right to the public performance of their songs. This law covers more than just live performances. Find out if you’re at risk and what you need to do about it. Check out NMHC resources and guidance on music licensing.

PACKAGES

Why Your Landlord May Not Hold Your Holiday Packages

‘Tis the season for free shipping and online shopping. And many apartment communities are bracing for the deluge of holiday packages. “We know that everyone is struggling with trying to find an answer,” said Rick Haughey, vice president of industry technology initiatives at NMHC. Plus, Camden’s Keith Oden unpacks the company’s new no-packages policy.

POLICY

HUD Proposes Smoking Ban in Public Housing

The government is seeking to ban smoking in all of the nation’s 1.2 million public housing units, the latest step in a decades-long crackdown on tobacco products that help kill hundreds of thousands of Americans each year.
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Hunt Companies Acquires Major Military Housing Portfolio

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Urban Multifamily Is Where It’s At

Inside the Pop-Up Apartment

Lessons from the Gentrification Wars

The Seven Most Outrageous Student Housing Amenities

Multifamily Market Dashboard

The Pace of Affordable Housing Production

CityLab’s Gillian White recently wrote about the issue of rising rents and the effect on low-income families. Low levels of affordable housing production are creating fierce competition for government-subsidized units that spills into the market for existing lower-priced units. “That’s especially troubling because it means that even relatively affordable apartments are quickly becoming too expensive for low-income families,” she writes.   

But just how much affordable housing is the industry producing? NAHB analysis of the most recent government apartment absorption data shows 5,300 Low-Income Housing Tax Credit (LIHTC) or other federally subsidized units were completed during 1Q 2015. That brings total affordable production to 27,300 units completed for the four-quarter period ending with the first quarter, accounting for roughly 10 percent of all apartment completions.


Upcoming Meetings

NEXT Week

2015 NMHC OPTECH Conference & Expo — San Diego, CA

November 17 - 19 Hilton San Diego Bayfront in San Diego, CA
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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