Multifamily development has come of age in Orange County, constructed with unique amenities, like roof top decks, specialty retail or onsite services. Rents have hit a record high. Homeownership rates are still declining so the fundamentals of apartments are soaring.
How are investors looking at this trend and the impact on their investment strategies? Are communities addressing the requirement to provide society’s need to have workforce and affordable housing? Is this development cycle/pattern sustainable?
The answer to these questions is in this statement: “While multifamily housing in the OC is increasing, the multifamily housing stock for lower- and middle-income renters is slowly disappearing.”
This an issue in ULI’s wheelhouse – the critical loss of an unappreciated real estate asset class that will impose ever-greater social and economic costs on our region in the future.
The Institute is providing leadership to address this issue.
A new report released by the ULI focuses on the finance vehicles for ensuring that exiting affordable properties remain available to many who need them. The report is called: Preserving Multifamily Workforce and Affordable Housing – New Approaches for Investing in a Vital National Asset.
In quintessential ULI fashion, the report profiles 16 efforts to preserve multifamily workforce housing and affordable housing, including below-market debt funds, private equity vehicles, and real estate investment trusts.
You may contact the author, Stockton Williams, Executive Director, ULI Terwilliger Center for Housing at firstname.lastname@example.org as well as ULI Trustee and ULI Terwilliger Center Board Member, Daryl Carter, CEO, Avanath Capital Management, who is located in Irvine, CA. Thank you.
To order a copy of this book, click here: https://uli.bookstore.ipgbook.com/preserving-multifamily-workforce-and-affordable-housing-products-9780874204001.php