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August 11, 2017
Affordable Housing Efforts Target Private Employers
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Adding testament to the growing severity of the nation’s rental housing affordability problem, HUD released its biannual Worst Case Housing Needs report this week. The number of renter households with worst case needs grew to 8.30 million in 2015, nearing record highs.

“It’s time we take a more holistic look at how government at every level, working with the private market and others, can ease the pressure being felt by too many unassisted renters,” said HUD Secretary Ben Carson.

While many apartment and development firms participate in public-private partnerships, more efforts are underway to involve the greater business community, as many employers find the scarcity of affordably priced rental housing for their employees a hindrance to growth.  

In Denver this week, Mayor Michael Hancock revealed that Chipolte Mexican Grill could be the city’s first employer partner to participate in a pilot program that would buy down rents on up to 400 market-rate apartments.

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Top News

DEALS

Blackstone, Starwood to Merge Single-Family Rental Businesses

In a sign that investors are betting that a growing number of U.S. families will rent, two of the country’s largest single-family rental businesses have agreed to merge, creating a combined portfolio of roughly 82,000 homes in 17 metro areas.

POLICY

Three Key Considerations for Housing Finance Reform

As housing finance reform makes a possible comeback on Capitol Hill, one housing advocate encourages legislators to take into account changing demographics, the need for a government backstop to provide market stability and the complementary nature of the relationship between renting and owning.

BUSINESS

How the Apartment Boom Is Taking Laundromats to the Cleaners

In today’s sharing and gig economies, many urban dwellers are renters with extra cash who desire—no, expect—amenities like a washer and dryer to be included in their apartment. As a result, laundromats have been rapidly losing business.

LAND USE

Multifamily Developers Try to Solve the Parking Challenge

Multifamily developers are fighting for the right to build fewer parking spaces at new apartment properties in downtown areas. “There is a growing awareness among housing officials that the required parking ratios are out of whack with reality,” says NMHC’s Doug Bibby.

TECHNOLOGY

Chatbots, Multifamily & Millennials

For many multifamily companies, the furthest they’ve waded into anything close to artificial intelligence is voice-activated assistance on phone calls. But millennial demand and new tech innovation could soon make AI an integral part of apartment search. Enter the multifamily chatbot.

SUSTAINABILITY

Investments in Innovative Technology Improve Property Performance

In this video, Corporate Sustainability Strategies’ Brenna Walraven leads a discussion on investment in innovative sustainability initiatives, from clean and renewable energy to wellness design, with Equity Residential’s Louis Schotsky, Black Bear Energy’s Drew Torbin and National Real Estate Advisors’ Kevin Verdi.
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Commercial, Multifamily Borrowing in U.S. Up 20 Percent Year Over Year

Construction-Worker Shortage Worsens

Can a New Disruptive Construction System Solve the Urban Affordability Issue?

There's New Research Behind the Contention that Airbnb Raises Rents

A Bipartisan Fix to the Housing Crisis?

So You Want More Affordable Housing?

Can Renting an Apartment Be As Easy As Booking a Hotel? One Company Thinks So

HUD Will Fund $38 Million to Fight Housing Discrimination

More Americans Than Ever Say Now Is a Bad Time to Buy a Home

Why High-Net-Worth Investors Seek Increased Real Estate Allocations

Aging Construction, Maintenance Demographic Calls for Extra Care, Safety

WeWork Announces Third Location for Its Co-Living Concept
Multifamily Market Dashboard

New Data Offers Insight into Rental Ownership and Management

The U.S. Census Bureau and Department of Housing and Urban Development recently released results from the latest Rental Housing Finance Survey. The survey is unique in that it provides data at the property level, whereas most publicly available data provide data at the building level.

Available metrics include ownership type, whether or not the property has a third-party manager and when the property was acquired, among many others. Figure 1 shows the breakdown in ownership type for all rental housing, illustrating how dramatically different the ownership make up for each segment of the rental market is.

The survey data is available in Quick Facts, a go-to resource for apartment market data. 


Upcoming Meetings
2017 NMHC Leadership Forum: The Bottom Line Imperative of Diversity & Inclusion

September 12-14, 2017 at the Fairmont Hotel, Washington, DC

2017 NMHC Fall Board of Directors and Advisory Committee Meeting

September 12-14, 2017 at The Fairmont Hotel, Washington, DC

September 25 - 27, 2017 at the Tampa Marriott Waterside Hotel & Marina, Tampa, FL

2017 NMHC OPTECH Conference & Exposition

October 25-27, 2017 at the Mandalay Bay Resort and Casino, Las Vegas, NV

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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