Remove Development Remove Housing Remove Local Government
article thumbnail

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?

article thumbnail

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

Community and Economic Development Program of UNC

Earlier this month, DFI examined how local governments in North Carolina have stepped in to make new affordable housing construction economically viable after a historic increase in construction costs and elevated interest rates. The median development cost per unit remained steady at $250,000, more than 50% higher than in 2020.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Why Local Governments Should Make Housing Part of Their Economic Development Plans

NLC (National League of Cities)

NLC’s Entrepreneurship and Economic Development team helps cities meet their economic security needs by building robust and inclusive economies. In the […] Source

article thumbnail

What Policymakers Need to Know About New and Evolving Publicly-Driven Housing Development Models in the U.S.

The Stoop (NYU Furman Center)

State and local governments are exploring ways to take a more direct role in financing, preserving, and developing housing to address the nation’s housing shortage with an array of public development models, according to a new policy brief by the NYU Furman Center and its Housing Solutions Lab.

Housing 96
article thumbnail

Thriving Communities TA: Helping Local Governments Coordinating Housing and Infrastructure

NLC (National League of Cities)

Article by Pam Blumenthal, social science analyst, Office of Policy Development and Research at the U.S. Department of Housing and Urban Development; and Sarah Schaefer, social science analyst, Office of Policy Development and Research at the U.S. Department of Housing and Urban Development.

Housing 96
article thumbnail

How local governments can respond to the housing crisis

GCN

A new book by Charles Marohn and Daniel Herriges of Strong Towns encourages local officials to promote small-scale developments, even if it means using city financial tools to get them off the ground.

article thumbnail

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.