Last night in chambers, the Albuquerque City Council voted unanimously to approve the newest YES Housing, Inc. affordable development Calle Cuarta at 4th St and Fitzgerald Rd NW. Reportedly, the development will have two phases, with the first phase to include a three-story mixed-use building and live/work units that will total 65 rent restricted LIHTC affordable…

The elusive $1,000-a-month apartment unit could be in the works in Santa Fe. Santa Monica, Calif.-based developer Lincoln Avenue Capital intends to build an affordable housing project with up to 240 apartments at a site off N.M. 14 and Interstate 25 just south of the city. Ben Taylor, vice president of Lincoln Avenue Capital and…

In the Albuquerque metro area, multifamily housing permitting is increasing rapidly. Building permits for 4,021 new housing units were issued in Albuquerque during 2021, and 35% of those were for apartment buildings with five units or more. In comparison, half a decade earlier, only 20.3% of all permits for new housing units were for apartment…

Every American city has a housing supply problem, but each city’s housing supply problem is unique. That’s one of the conclusions of research just published by my colleagues at Fannie Mae. While the United States does indeed have a national shortage of affordable housing, every state and city’s path to addressing it is relatively unique, and the…

The National Association of REALTORS® (NAR) recognizes the need in this nation to produce rental housing and preserve the current rental housing stock. NAR encourages states and municipalities to adopt zoning laws and building codes, or other legislation that encourage the construction of rental dwellings. NAR opposes moratoria on zoning or approvals for apartments and…

The initiative calls for 5,000 units to be created by 2025 by converting existing properties into housing and making other changes to zoning laws. Read the rest at Albuquerque Business First

Rent control proponents visited City Hall in big numbers Monday night. So did rent control critics. Together they spent two hours arguing their respective positions before a governmental body — the Albuquerque City Council — that has no authority to implement rent control and was merely considering whether to ask for that authority. The council…

Multifamily leaders weigh in on local legislation and ballot measures that have nationwide implications. Kingston, N.Y., a picturesque town on the Hudson River 90 miles north of New York City, could be a sign of challenges ahead for the multifamily industry. In August, Kingston became the first city in upstate New York to adopt rent…

For the 44 million households who rent a home or apartment in the U.S., inflation keeps pushing costs higher and higher. Anger is rising too. It could be a breaking point. Here’s a list of places you might imagine seeing an argument over housing policy. A city council meeting. A late-night zoning hearing. Maybe a…

Housing supply is the number one issue for millions of consumers who are locked out of the market. Middle-income, first-time, and first-generation homebuyers shoulder the greatest burden of the historic 5.5 million housing unit gap, as they face more obstacles in the current economic climate. NAR has been on the front lines for the past…