Paul Connolly • 11 min read
After a year living through the COVID-19 pandemic, we’ve heard all the platitudes. This is the new normal. We’re all in the same storm, but not necessarily in the same boat. We’ve developed new vocabulary words, like “quarantini” and “doomscrolling.” We’ve become at-home information technology specialists, setting up mesh wi-fi networks to support parents working from home and kids learning from home.
Scott Beyer • 5 min read
Affordable housing advocacy and policy often prioritizes people who are most in need of housing, and understandably so—nearly one-third of Americans are housing cost burdened. But, the aid for housing often cuts off those who aren’t low-income enough to qualify, yet aren’t wealthy enough to afford market-rate housing.
Scott Beyer • 7 min read
Overcoming Nimbyism is hard—maybe the most significant barrier—for developers looking to get projects approved. This is particularly the case for affordable housing projects, which must overcome additional biases. Propose one in a city neighborhood, and the developer could have residents, activists and politicians reject the rendering for any number of reasons.
Thom Amdur • 4 min read
Mark Twain famously recommended, “Buy land, they’re not making any more of it.” Forget that he lived contemporaneously with the filling of Back Bay in Boston (and not that far away in Hartford, CT) where they did in fact make more of it, the observation is generally true but not especially good investment advice. Not all land is built the same – to quote another old real estate proverb, “There are three things that matter in property: location, location, location.” Whether you are developing apartments or a shopping center – knowing your market area and where you sit in it is essential for success.
Mark Fogarty • 7 min read
The long arm of the COVID pandemic is not only disrupting 2020 performance in the tax credit industry, but it may have a further impact even after the virus is brought under control.
Mark Fogarty • 6 min read
It’s rare that a site for a housing development is perfect. Besides the constraints of working with existing lots that are often less than ideal, there are many other factors in play: zoning, soil conditions, solar orientation, ease of entry and access to transportation and amenities, just to name a few. In general, though, there are a few handy tips that can help developers and architects seek out a good site for affordable housing.
Paul Connolly • 3 min read
When the 117th Congress convenes January 3, bipartisan support will be required to pass any legislation as neither party will have a strong majority in the Senate, panelists at an NH&RA town hall said December 3.
Mark Olshaker • 10 min read
In response to the Covid-19 pandemic, both the CARES Act (Coronavirus Aid, Relief, and Economic Security) and a Centers for Disease Control and Prevention (CDC)order, imposed moratoriums on eviction from rental housing under most circumstances, at least until December 31, 2020. CDC’s guidance specifically states that preventing evictions “can be an effective public health measure utilized to prevent the spread of [Covid-19],” and that “housing stability helps protect public health because homelessness increases the likelihood of individuals moving into congregate settings, such as homeless shelters, which then puts individuals at higher risk [of] Covid-19.”
Kaitlyn Snyder • 7 min read
Originally authorized by Congress as a part of the Community Renewal Tax Relief Act of 2000, authorization for the New Markets Tax Credit (NMTC) once again runs out at the end of 2020. The program was initially authorized for five years and has been kept alive by several short-term renewals, which speaks more to Congress’s desire and ability to get anything done than it does to the effectiveness of the program. As we celebrate the program’s 20th anniversary and stare down the barrel of yet another nerve-wracking, year-end reauthorization, we thought it timely to examine the program through both retro- and prospective lenses.
Darryl Hicks • 12 min read
Gregory Minott is an awarding-winning architect and co-founder of DREAM Collaborative, a black-owned design firm in the Boston metro area.
Scott Beyer • 4 min read
The COVID-19 pandemic has brought challenges to the entire economy, particularly to real estate genres that were already in a tenuous situation. New Markets Tax Credits (NMTC) cover a broad array of these asset classes, so one might think the credits, which are issued by the Department of the Treasury and meant to revive distressed areas, will be impacted. Whether or not that happens was the topic at a recent NH&RA panel discussion.
Scott Beyer • 6 min read
New Markets Tax Credits (NMTC) can be used for a variety of real estate types. They benefit developers building everything from grocery stores to clinics to manufacturing facilities, in areas deemed underserved. They’re bought by financial institutions, who become eligible for a five to six percent tax credit across a seven-year span. They’re syndicated through community development entities (CDEs), which can be either for-profit, nonprofit, or government-run. However, housing developers have somewhat restricted access to this financing tool. While NMTC has been used to build many a mixed-use residential project, the program can be inflexible, particularly regarding the “80/20 rule.”