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The town of Newton, Massachusetts is working to comply with a new state law that requires the construction of new multifamily housing units in areas served by public transit, according to reporting from the Boston Globe. However, the debate in Newton could be more contentious than in other parts of the state, according to the Globe.
Senate appropriations committee this week approved full funding for the fiscal year 2025 Transportation, Housing and Urban Development, and Related Agencies Appropriations Act (T-HUD), which provides $98.737 billion in total discretionary funding for agencies including Ginnie Mae. Patty Murray (D-Wash.), the chair of the committee.
As part of the broader community operating within the service area of the Massachusetts Bay Transportation Authority (MBTA), the affluent Boston suburb of Milton — with a population of roughly 29,000 people — was directed to comply with a new state law requiring the construction of new multifamily housing units in areas served by public transit.
“The continued increase in reports of housing discrimination means lawmakers are simply not doing enough to provide adequate resources for the organizations serving on the frontlines educating the public about fair housing laws and helping individuals and families when crucial civil rights laws are broken,” said Lisa Rice, NFHA’s President and CEO.
In-person hurdles An in-person counseling requirement remains law in Massachusetts, which contributed to the halting of reverse mortgage business throughout the state at the onset of the COVID-19 pandemic due to stay-at-home orders handed down by then-Gov. Not just those who support my bill but also those that oppose it.
In addition, mixed-use developments are bringing in new apartments, retail, and public spaces, while older buildings are being converted to residential spaces through adaptive reuse projects. Despite the 23% drop in favorited apartments in Washington, D.C., Tacoma, Washington Tacoma claimed the seventh spot in RentCafe’s ranking.
This proposed NYC "pied-a-terre" tax law has a name that infers it concerns " pied-a-terres " when in fact that property type is but one part of the property types that are impacted. The New York state political zeitgeist was recently and suddenly tilted against luxury development in New York City. The White Paper That Started It All.
banking, shopping, transportation). There are 39 states that have passed RON laws. They are willing to drive change across their operations and work with advisors, like Falcon, to develop a roadmap to integrate digitalization into policies, processes, and training.
First, as a prospective investor interested in the mixed-use real estate development concept, you must understand the requirements of these unique community environments and the people inhabiting these structures. Mixed-use commercial property is either a building or a land development that includes both residential and commercial space.
Washington established guidance called the Growth Management Act (GMA) that requires review and possible revision of land-development policies at least every 20 years. The GMA mandates that local policies also guide decisions on transportation, capital facilities and the natural environment. If not now, when?
The Growth Management Act was adopted in 1990 by the Legislature to address an uncoordinated and inconsistent set of rules for development that were threatening the environment. The result of the laws is a greater share of residential growth within cities. The answer lies within a major piece of legislation from Olympia.
The best way to find commercial properties is by hiring a licensed commercial real estate broker and commercial law attorney. Transportation and access. Opportunities for future development and zoning ordinances. Unlike residential real estate, commercial property listings aren’t found in a single database like the MLS.
Dale Schaechterle, the founding partner and CEO at Realty Executives Integrity , shares with Forbes that the services of a good real estate agent are essential for a first-time home buyer given the complicated network of mortgage rates and tax laws that they will have to navigate. Honesty Counts. How far will their budget truly go?
For transportation teams, every time an employee is out of cell phone or radio range, they too qualify as a lone worker. As we continue to develop new ways of minimizing the workers required on a site, we’ll only see a rise in lone workers. First and foremost, remove lone worker situations for all prohibited lone worker tasks.
Consider the proximity to essential amenities like schools, parks, shopping centers, and public transportation. Additionally, it’s wise to look into future development plans in the area as they could either boost or detract from your home’s value in the long run.
Shelton Weeks, professor and director of the Lucas Institute for Real Estate Development & Finance, Florida Gulf Coast University. “In points) Total law-enforcement employees per capita: double weight (~7.27 points) Total law-enforcement employees per capita: double weight (~7.27 points) Cost of living: quadruple weight (~8.89
Amenities: Local amenities such as public transportation, parks or recreation areas, and local dining can potentially have an impact on home values. Zoning and Development: Future zoning changes, commercial development, or infrastructure projects can either boost or hinder property values.
Additionally, the Washington Legislature budgeted $103M in public charging infrastructure in 2022 – all while the state passed a law last year that bans the sale of new gas-powered vehicles by 2030. All fuel-powered forms of transportation – yes, planes, trains and automobiles – contribute about 27% of the country’s greenhouse gas emissions.
Planes, Trains, Automobiles, and More: Transportation links are essential for any industrial space or commercial properties for lease. Lastly, perform a parking lot check and note the parking ratios of employees’ spots as well as their proximity to other forms of transportation. Thus, land, good land, will always be in high demand.
We have welcomed dozens of new residential high-rises and life-changing landmarks from our remodeled arena and expanded convention center to the exciting developments on the waterfront. The developer behind one of its most talked-about projects – Northline Village – has yet to break ground as it seeks more investors. What’s on tap?
Legislative or regulatory risk refers to any change in regulations or law that can impact real estate owners or tenants. Even if changes to laws and regulations do not directly impact real estate, they may indirectly impact property investment through financing or business cash flows. Legislative/Regulatory Risk. Location Risk.
As with distressed homeowners, you’ll need to be adept at showing genuine empathy while wielding your expert knowledge of probate laws. Features like walkability and easy access to public transportation are considerations for many clients these days. Related article 9 savvy strategies to get more real estate referrals 11.
"It’s also important to understand the legal requirements of owning real estate—lead paint inspections, rental registration, accounting, receipts for payments, written leases, liability insurance, renter’s insurance, tenant screening including criminal and credit checks, fair housing laws, and much much more. Ernie Rafailides.
Such initiatives include changing certain zoning laws, financing more affordable and energy-efficient housing units and funding research on the topic of commercial-to-residential conversions. Department of Transportation , aimed more squarely at existing zoning law. In this week’s series of initial announcements, the U.S.
USFS is planning to lease strategically positioned sites for workforce housing developments in Steamboat Springs, Colorado and Ketchum, Idaho, to create new affordable housing. The Department of Transportation (DOT) published interim guidance to permit transit agencies to use their property to support transit-oriented development.
Tiny houses on wheels (THOW) operate like a trailer and allow easy transportation and setup almost anywhere with the right access points. THOWs also come with many additional financial considerations, like parking fees, water bills, electricity costs and transportation costs. Construction Loans.
With each stall in a commercial garage costing tens of thousands of dollars to build, parking requirements can impose significant costs on property developers, owners and renters. Rather than allocating parking that goes unused, developers could propose sharing available space in nearby buildings. wages rise at a hefty 6.8% CONDO NEWS.
Housing starts – the number of units builders would begin if development kept pace for the next 12 months – increased 19% nationally to a seasonally adjusted annual rate of 1.7 They range from restrictive zoning (NIMBY) laws, the high cost of building in an urban area and a depleted labor force. These laws take effect in July.
Is it a classic Victorian set far back from the road with stately elm trees shading the formal garden, or a brand-new split level in an up-and-coming housing development with a communal pool, tennis courts, and a playground for the kids? Keep in mind that any big changes to existing structures can often be prohibited by zoning laws.
Homeownership is out of reach for many Americans because of the lack of affordable homes, regulatory burdens to development, and high interest rates – not the cost of title insurance. By law it is not an insurer nor is it capitalized or regulated to do this.
Most zoning laws grant units up to 1000 sq. Also known as a mother-in-law or cottage, the dwellings can offer viable housing to younger buyers seeking to save for their first home or enable seniors to age within a familiar neighborhood. That’s 40% more homes than we have today. >> It’s now on hold.
The pending law is on the governor’s desk awaiting his signature. Legislation related to transit-oriented development did not pass. ———- We are watching developments at Escala , the elegant luxury condo in downtown Seattle. And, opening this year, Graystone.
State laws will usually dictate who is legally responsible for overseeing the closing. If you’re signing paper documents, they’ll need to be transported, and the courier fee will be what pays for that to be expedited. The party that handles the closing could be an attorney, the title company or an escrow company. Courier Fee.
Two recent laws in Washington reduce or eliminate the need for parking if the properties are in proximity to a transit hub. Interestingly, dozens of state Legislatures reviewed similar proposals this year to reduce parking requirements for residential projects but very few became law. is now at just under $3.6M, an 18% discount.
Streamlining permits, updating zoning laws for higher-density housing, and offering tax credits for affordable housing can help increase the supply of homes where they are needed most. When the government and private developers team up, they can create innovative and financially viable housing solutions that benefit everyone.
In 2024 alone, Colorado, Arizona, Massachusetts, and Hawaii passed major ADU legislation, and California added several laws to open the doors wider for ADU s. While state-level ADU policies take aim at local rules that hamper ADU development, there’s still work to be done. But first, the good news.
Urban planners have a name for it: the 15-minute neighborhood and it is already in development in parts of the country, including Seattle. Create options for multiple modes of transport – bikes, cars and transit should all be factored in. Where would you like to see this type of neighborhood development? Send me a message.
Laws added to the state books this year will certainly go a long way to boost density, particularly near transit hubs, as well as the removal of obstacles toward building accessory dwelling units on nearly any single-family-zoned home. could potentially generate thousands of homes in areas already served by public transportation.
The 3-month, 2023 session was deemed the Year of Housing, with 23 pieces of relevant legislation becoming law. for the development of second residences, such as cottages and other forms of affordable single-family homes. Lower parking requirements for developers of higher-density housing.
Department of Housing and Urban Development (HUD) is eliminating an Obama-era rule that became a lightning rod during the 2020 election. This action also returns decisions on zoning, home building, transportation, and more to local leaders. HUD provided a questionnaire and tools to develop a plan.
Department of Housing & Urban Development (HUD) Secretary Scott Turner has announced that the Department has terminated the Biden-era 2021 Affirmatively Furthering Fair Housing (AFFH) rule, cutting red tape imposed on localities and returning decision-making power to local and state governments.
Fresh inventory for eager buyers may take longer to develop as the market still faces those mortgage headwinds from the combination of high rates and homeowners locked in with low borrowing costs. This should broaden the number and type of homes, particularly within walking distance of public transportation hubs.
Biden is also calling on Congress to eliminate exclusionary zoning laws, which he says inflates housing and construction costs – an issue that has crippled homebuilders across the country for more than a year. It would be similar to the passing of the American Rescue Plan , which Democrats passed without a Republican vote.
I hereby order the heads of all executive departments and agencies to deliver emergency price relief, consistent with applicable law, to the American people and increase the prosperity of the American worker, stated Trump in his executive order.
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