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January 20, 2017
The Pro-Apartment Playbook
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Some of the biggest hurdles to new apartment development—as well as onerous affordability mandates—are encountered at the local level. To help multifamily firms address these very challenges, NMHC and NAA recently developed a new tool to put in the arsenal.

Drawing from proprietary research on local government officials and political elites’ attitudes towards rental housing, this new report offers insight into how to more effectively talk about the apartment industry, better advocate for more apartment construction—including affordable apartments—and promote specific policy solutions that are palatable to decision-makers.

For example, you’ll learn that despite new calls for rent control, less than half of local policymakers support this or mandatory inclusionary zoning. However, six in ten elites and government officials support voluntary incentives like tax rebates for affordable housing. In addition, strong backing exists for rehabilitation of existing real estate, even among those who dislike apartments and renters. 

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Top News

NMHC 50

Starwood to Buy Milestone Apartments for $1.3 Billion

Starwood Capital Group will buy Milestone Apartments Real Estate Investment Trust for about $1.3 billion in cash, reshuffling the ranks of powerhouse players. In 2016, Starwood was the 30th largest apartment owner in the NMHC 50 rankings; Milestone ranked 48th on the top owners list and 40th on the top managers list.  

FINANCE

Foreign Money Looks Beyond Gateway Cities for Apartment Assets

Looking to keep investing in the U.S. real estate market, foreign investors are stretching beyond trophy assets in gateway cities. Appetite grows for apartment development deals and properties in secondary markets. 

POLICY

Carson Supports More Housing Public-Private Partnerships

While Dr. Ben Carson’s confirmation hearing went more smoothly than anticipated, it remains unclear what kind of mark he will leave on housing policy as the new head of HUD. Carson has remained tight-lipped about his vision for HUD, but his statement offers a little peek at the direction. 

AMENITIES

These New Apartments Come with a Shared Car

On-demand mobility changes the game for developers trying to meet outdated parking requirements on their new buildings.

OPERATIONS

New Guidance on Music Licensing Rules Now Available

NMHC/NAA, with assistance from Winstead PC, recently published new guidance providing clarity on music licensing rules for apartment community fitness centers and movie rooms. The big takeaway? It all comes down to volume. 

RESOURCES

Industry Website Offers New Apartment Data

NMHC/NAA recently updated the website Apartments. We Live Here to reflect newly released data on the growing renter population. The site provides key industry facts and figures, as well as online tools to better understand the industry’s economic contribution.

OPERATIONS

Is Pot the New Pets?

D2 Demand Solutions’ David Donaldoff remembers a time when the industry was decidedly less pet friendly and wonders whether legalized marijuana could offer a similar opportunity for innovative, early adopters to not only differentiate but get paid for it. 
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Multifamily Market Dashboard

Apartment Construction Is Taking Longer Than Ever

There has been a significant draw out of the apartment construction process, according to analysis from MPF Research. While a shift to denser developments and high-rise product is a contributing factor, projects are taking longer to build, irrespective of height.

Part of the problem is likely rooted in rising labor costs, primarily specialty-craft labor. And attrition of the aging skilled-craft labor force has burdened construction companies with finding and retaining young workers. With structural forces pushing out completion timelines, the lengthening, at least for this cycle, might be the new normal.


Upcoming Meetings
2017 NMHC Apartment Strategies Outlook Conference

January 24, 2017 at the Manchester Grand Hyatt in San Diego, CA
 
2017 NMHC Annual Meeting

January 24 - 26, 2017 at the Manchester Grand Hyatt 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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