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Recent Trends in Real Estate Development: Fall 2023

Community and Economic Development Program of UNC

This blog post is the first in a regular series aimed at informing local government partners about current conditions facing private developers and development projects in their communities. In 2021, for example, a developer able to secure a $5 million loan with 3.5% With an interest rate of 8.5%

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How local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

The challenges facing real estate development today are well-known. A June 2024 survey of the nation’s largest developers found that two-thirds of multifamily projects in the pipeline are delayed because they are no longer economically feasible under current conditions. How have developers adapted to rising costs?

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2024 Update: Local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

In 2023, local governments contributed nearly $30 million in soft loans to new construction projects funded by 9% Low-Income Housing Tax Credits (LIHTC) — more than double the amount in any previous year. The data shows that affordable housing developers continue to struggle with closing financial gaps in their projects (Table 1).

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Recent Trends in Real Estate Development (Spring 2024)

Community and Economic Development Program of UNC

These posts are meant to inform local governments about current conditions facing private developers and real estate development projects in their communities. Figure 1) Source: Fannie Mae Developers continue to report challenges caused by high interest rates. 2] (Figure 4) Source: U.S. link] [2] St. Louis FRED Economic Data.

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Recent Trends in Real Estate Development: Winter 2024

Community and Economic Development Program of UNC

These posts are meant to inform local governments about current conditions facing private developers and development projects in their communities. In the months leading up to the Fed’s announcement, commercial real estate developers continued to report project delays caused by high interest rates. See Figure 1.

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2023 Roundup: Federal Policy Developments in Neighborhood Revitalization 

Center for Community Progress

This has been a big year for federal policy developments that can help communities address vacancy and stabilize neighborhoods. Read on to learn more about the 2023 federal programs and policies in community revitalization you might have missed.

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4 Environment and Development Stories to Watch in 2023

The City Fix

What will 2023 hold for the environment and development? The end of 2022 certainly left us in an interesting — and concerning — place. The world’s three-year-old pandemic proved it was far from over, sickening millions and affecting economies.