The Philadelphia Housing Authority plans to invest $84 million to transform over two dozen vacant properties in Germantown into 121 affordable rental units, with work expected to start by spring 2027. The project aims to revitalize blighted properties, including historic sites, and provide deeply affordable housing for households earning at or below 30% of the area median income. The initiative follows a history of neglect and legal battles involving previous ownership, and is part of broader efforts to improve neighborhood housing.
Outgoing NYC Mayor Eric Adams vetoed 19 bills passed by the City Council, including measures on housing, street vending, and police oversight, citing concerns over bureaucracy and law enforcement. He also convened a new charter revision commission, sparking controversy and potential conflicts with the incoming administration and City Council, which may seek to override some vetoes.
A contentious dispute over the Venice Dell affordable housing project in Los Angeles involves city officials, developers, and state authorities, with the state threatening to cut funding and strip zoning powers if the city continues to block the project, which has faced nearly a decade of opposition and legal battles.
The San Francisco Community Land Trust purchased a five-unit building in the Mission District, securing long-term housing for its tenants and preventing displacement, with the city supporting the $1.55 million purchase through various programs, providing relief and stability to longtime residents.
The mayor of Barcelona warns that Europe's soaring housing costs are a 'new pandemic,' urging the EU to allocate billions for affordable housing to address a social emergency impacting millions and threatening democratic stability.
A billionaire investor group purchased and renovated the Riverview apartment complex in Steamboat Springs, offering below-market rents to local workers without income qualifications, aiming to address the housing shortage and preserve community culture. The initiative highlights a potential model for rapid affordable housing solutions in high-cost mountain towns, driven by private investment and swift execution.
Residents of the deteriorating Northmere SRO building in Uptown were forced to leave after a court-ordered vacate due to unsafe conditions, leaving many with nowhere to go and highlighting the ongoing loss of affordable housing in the area.
Massachusetts has implemented solutions like designating resort towns as 'seasonal communities' to ease housing construction for workers, exemplified by projects like The Forge in Lenox, but the effectiveness of these measures in alleviating housing shortages remains uncertain.
The article discusses the ongoing shortage of affordable starter homes across the U.S., driven by rising construction costs, zoning laws, and market dynamics, which make it difficult for first-time buyers to find suitable, affordable properties. It highlights regional examples, regulatory barriers, and potential solutions like deregulation and financial assistance programs, while advising prospective buyers to consider strategic compromises such as looking outside major cities to improve their chances of homeownership.
A former JPMorgan office building in Manhattan has been transformed into 1,320 apartments with extensive amenities, including recording studios, pools, and gyms, as part of NYC's leading office-to-residential conversion efforts supported by government incentives, addressing housing shortages and adapting to remote work trends.
A 56-year-old freelance travel writer, facing unaffordable rent, built her own tiny house on wheels during the COVID-19 pandemic, which became her first owned home, providing her with security, freedom, and a simplified lifestyle.
Governor Gavin Newsom signed legislation to accelerate housing development and improve affordability in California, including measures to streamline permitting, enforce housing laws, and promote transit-oriented and climate-smart housing, as part of a broader effort to address the state's housing shortage and homelessness crisis.
Governor Kathy Hochul announced a $50 million program to promote manufactured housing in New York, aiming to address the housing shortage by delivering 200 affordable modular and manufactured homes across the state, with a focus on changing perceptions and overcoming financing challenges associated with manufactured homes.
Utah aims to address its housing shortage and high prices by building 35,000 affordable starter homes over five years, with developers like Nilson Homes creating smaller, cost-effective houses to help first-time buyers, despite slow progress and zoning challenges.
A housing analyst predicts that mortgage rates will remain high through 2025, with only slight improvements, which will continue to suppress homebuyer demand and homeownership rates, especially among Millennials and Gen Z, due to high costs and limited affordable housing options.
