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Among the more than 16,200 condo units across 682 new buildings completed in New York City since 2013, one in four remain unsold, or roughly 4,100 apartments — most of them in luxury buildings, according to a new analysis by the listing website StreetEasy. [...]
Already the prices at several new towers have been reduced, either directly or through concessions like waived common charges and transfer taxes, and some may soon be forced to cut deeper.
— The New York Times
Despite record-breaking residential construction in New York City, sales of apartments have slowed steadily in recent years. NYT real estate reporter Stefanos Chen has analyzed the latest numbers of unsold units, especially in the higher price ranges, following a glut of inventory in newly... View full entry
The Columbia University Gradate School of Architecture, Planning, and Preservation has launched a new interdisciplinary research initiative called the Columbia GSAPP Housing Lab. The lab is to be led by GSAPP dean Amale Andraos. Architect and GSAPP associate professor Hilary Sample has also... View full entry
Sanders railed against Trump’s housing policies and explained his own, which calls for federal investment of $2.5 trillion over the next decade and a national rent control standard. He said he will pay for the policy by establishing a wealth tax on the top tenth of one percent — or, according to his estimate, the wealthiest 175,000 families. — The Washington Post
Major points of the $2.5 trillion plan include: Establishing a national rent control standard that would cap rent increases at no more than 1½ times the rate of inflation or 3 percent, whichever is higher.Promoting legal protections for fair housing and taking steps to eliminate racial... View full entry
The Trump administration officials who came to town to study homelessness spent Monday and Tuesday meeting with officials from Mayor Eric Garcetti’s office, checking out the Jordan Downs public housing in Watts and touring the long-entrenched epicenter of the crisis, skid row. There was even a trek to Pomona.
An administration official said the purpose was to gather information so that President Trump could begin to develop a plan to address the “tragedy.”
— The Los Angeles Times
The tour comes as the Trump Administration's controversial Opportunity Zones program designed to funnel investment to underserved areas gains steam and as the administration potentially looks to rewrite "regulatory barriers" for affordable housing projects nationwide. According to... View full entry
The city’s [Transit-Oriented Communities] program has been touted as one of City Hall’s most successful initiatives for producing affordable housing. Since it was launched in late 2017, developers have proposed nearly 20,000 new homes, nearly 3,900 of which would be kept affordable for lower-income households, according to the latest data from the planning department. — The Los Angeles Times
The notorious Los Angeles NIMBY group Fix The City has filed a lawsuit targeting the city's Transit Oriented Communities (TOC) program, arguing that the program, widely approved by a 2016 voter referendum, violates city and state laws and was not properly vetted by the public. Alex Comisar, a... View full entry
INFONAVIT, the federal institute for workers housing of Mexico, is the largest mortgage lender in Latin America. Founded in 1972, the Mexico City-based institute has played a critical role for families across Mexico attempting access decent housing. The institution, along with MOS architects, has... View full entry
We must continue to prepare for acute shocks—
events that could threaten our City’s ability to function, such as
natural disasters. We must also address chronic stresses—challenges that weaken our natural, built, or human resources, such
as income inequality and chronic homelessness. Stresses often
exacerbate the effects of shocks when they occur, particularly for
vulnerable populations.
— City of Seattle
The plan comes as Seattle, the fastest-growing city in the country, and the larger Puget Sound metropolitan region around it, prepare to nearly double in population by 2050. View full entry
The Basement Apartment Conversion Pilot Program provides eligible low- to middle-income homeowners living in East New York and Cypress Hills, Brooklyn with low or no-interest, or possible forgivable, loans to convert their basement or cellar into a safe, legal, and rentable apartment, based on altered building code legislation passed in February 2019. — NYC Housing Preservation & Development
There’s a visually striking addition to the ever-troubled Tenderloin — a nine-story structure clad in colorful brick that holds 113 apartments for low-income residents, plus a pair of community-oriented retail spaces.
Too bad it took 11 years to summon the newcomer into existence.
— The San Francisco Chronicle
John King, The San Francisco Chronicle's urban design critic, takes a look at the David Baker Architects-designed 222 Taylor project, the fruits of a long-running effort to build affordable housing in San Francisco. While lamenting the long and drawn-out design and approval process the... View full entry
Due to many factors, now more than ever, LA architects have a responsibility to offer solutions and creative resources to solve this crisis immediately — as if our currently 59,000+ unsheltered Angelenos were displaced by an earthquake or a wildfire. — AIA|LA
The Trump administration is vastly expanding the scope of condominium purchases eligible for lower-down-payment loans.
The move, announced Wednesday by the Federal Housing Administration, could help revive the entry-level condo market for first-time buyers because FHA-backed loans require only a 3.5% down payment and lower credit score than conventional loans.
— The Wall Street Journal
The move, in the works since 2016, could help provide a modest pathway for more Americans to afford real estate purchases, though tight supply and a pronounced focus on luxury housing on the part of developers could dampen the effects of the new measure. View full entry
San Diego approved new growth blueprints Thursday that allow for mid-rise housing and dense urban villages in neighborhoods near new trolley stops in Linda Vista and the northeast corner of Pacific Beach.
City Council members said the new zoning will simultaneously help solve San Diego’s housing crisis, reduce carbon emissions that cause climate change and revamp blighted areas where bicyclists and pedestrians face major challenges.
— The San Diego Union-Tribune
The YIMBY-inspired plan will more than quadruple the number of housing units allowed in areas surrounding a forthcoming $2 billion transit line slated to run through San Diego's northwest quadrant. Matt Adams, vice president of the local chapter of the Building Industry Association... View full entry
In the 2014 deal, Forest City Ratner vowed to expedite affordable housing for the 17-building development, under threat of a lawsuit from neighborhood groups that alleged the firm had broken faith with a community benefits pact signed nearly a decade earlier. — The City
After years of delays and false starts, construction on Brooklyn's Pacific Park development is finally moving along. But, the number of affordable housing units that the developer—Greenland Forest City Partners—agreed to construct through the project is falling short of... View full entry
Eric Strain, architect and associate professor at the University of Nevada, Las Vegas, shared his goals and perspectives for revitalizing Downtown Las Vegas at the AIA Conference this year. During his presentation, Strain emphasized the developmental momentum Las Vegas has been brewing. Much of... View full entry
Under the ambitious “Lantau Tomorrow” plan, Hong Kong will first build a roughly 2,500-acre island—roughly the size of 1,000 football fields—around the uninhabited Kau Yi Chau Island to the northeast of Lantau. This may be followed by an additional 1,700 additional acres of land reclamation around the island Hei Ling Chau, which is roughly two miles from Mui Wo and visible from its shoreline. — CityLab
CityLab reports that under a new aggressive urban growth plan, Hong Kong will create a pair of new islands totaling over 3,200 acres in area in order to create new high-density urban neighborhoods. Record-breaking affordability issues on the island have pushed wait times for public... View full entry