Massachusetts real estate trade groups launch a campaign against Governor Healey’s proposal to tax high-dollar home and commercial real estate sales to fund affordable housing, citing concerns over increased housing costs and unreliable funding.
Results for: Affordable Housing
The Bergen Circle affordable housing complex in Springfield, Massachusetts, has undergone a $22 million renovation, bringing significant improvements to the once-troubled complex. Residents now have new kitchens and bathrooms, replaced windows, and upgraded mechanical systems. The project was funded by MassHousing and spearheaded by the Michaels Organization, which took ownership of the property in 2021. Despite ongoing issues with pests and maintenance, tenants have expressed appreciation for the transformation, noting improvements in living conditions and responsiveness from management. The renovation included a complete rehab of the main seven-story building and seven two-story townhomes, encompassing 201 apartments. The complex now features security cameras, a fenced-in playground, and a mix of units subsidized by federal housing vouchers and rented at market rates.
Education experts advise considering high-quality state schools over Ivy League institutions for financial reasons and to avoid potential ideological polarization. Elite campuses such as Columbia have been criticized for fostering antisemitism and indoctrinating students. The Biden administration’s Equal Employment Opportunity Commission has sued Sheetz gas stations for alleged racial discrimination in hiring practices. Legal experts question the basis of the Manhattan District Attorney’s case against former President Trump, claiming it may violate prosecutorial ethics. Affordable housing programs in the US face criticism for their complex regulations and unintended consequences, such as excluding veterans from eligibility and hindering development.
Hamilton City Council has approved a one percent vacant unit tax (VUT), which will take effect in January 2024. The tax aims to discourage vacant properties and free up an estimated 1,000 empty units for rentals. The city will reach out to other municipalities that have implemented VUT programs, such as Toronto, Vancouver, and Ottawa, to learn from their experiences and avoid any implementation issues. While the tax is not intended to generate revenue for the city, annual updates will allow for rate changes.
The Saint John Tool Library has launched an initiative called “Vacant to Vibrant” to purchase and renovate vacant properties into transitional housing units. The project aims to address the city’s housing affordability crisis by creating up to 300 new units in vacant buildings. The initiative faces challenges in securing financing and identifying property owners, but it has secured some financial pledges and is working towards its first potential residence on Bay Street. The project highlights the potential of repurposing abandoned buildings as affordable housing solutions.
Hamilton Mayor Andrea Horwath invoked her ‘strong mayor’ powers Wednesday to advance a housing development on two municipally owned parking lots in downtown Stoney Creek. Despite an 8-8 deadlocked vote on the matter, Horwath only needed six councillors to support the project under provincial powers granted by the More Homes Built Faster Act. The new development will include a three-storey building with 24 affordable units and a five-storey building with 43 units.
Amidst heated debate and opposition from Stoney Creek councillors, Hamilton Mayor Andrea Horwath has utilized her strong mayor powers to override the council’s initial rejection of developing affordable housing on a city-owned parking lot. The project, which includes the construction of two buildings with 67 affordable units, has been approved by the majority of the council, as required under provincial law. The land, located at 5 and 13 Lake Ave. S., is considered ideal for the project due to its zoning and proximity to transit and services.
Two bills are advancing in the Hawaii legislature that would give counties the authority to regulate and potentially phase out short-term rentals. Proponents argue that this would alleviate the state’s severe housing crisis, where local residents face skyrocketing costs and homelessness. However, opponents, including homeowners who rent out units and rental platforms, express concerns about financial losses. The bills come amid growing urgency following the Maui wildfires, which displaced thousands of families. If passed, the final decision on phasing out short-term rentals would be up to county officials within a reasonable timeframe.
A new four-story building is under construction in the Vine Neighborhood of Kalamazoo, Michigan. The building, located at 530 S. Rose St., will be called Rose Place and will offer 64 apartment units for seniors aged 55 and older.
Rose Place will be the first seniors-only apartment building managed by KMG Prestige in Kalamazoo. Monthly rental rates have not yet been set, but a mix of affordable and market-rate units will be available.
The project received approval for a Payment in Lieu of Taxes (PILOT) resolution from the Kalamazoo City Commission, which will provide tax breaks for up to 50 years for 51 eligible units in the Low Income Housing Tax Credit (LIHTC) project.
The building is expected to be completed in late December 2024 or early January 2025. It will offer accessibility features such as roll-in showers, wheelchair-accessible hallways and doorways, and elevators on all floors. Resident-only parking, community rooms, and balconies will also be available.
A newly signed housing bill in Arizona aims to tackle both housing shortages and vacant commercial buildings in the Phoenix metropolitan area. The bill allows developers to convert or demolish a portion of commercial buildings for residential use without going through the rezoning process, saving time in the construction process. Starting in 2025, cities with over 150,000 residents must allow for up to 10% of economically obsolete commercial real estate to be repurposed for housing, with a designated percentage set aside for affordable housing.