Still the One
Multifamily developers are getting reacquainted with an old friend in 2008.
Caught in the Middle
Mezzanine financing is readily available for multifamily developers, but not nearly as affordable as it was this time last year.
A Flight Toward Certainty
While many lenders are experiencing declining volumes and tightening their underwriting standards in the first quarter of 2008, the Federal Housing Administration (FHA) is having a resurgence.
Developers Rescue State Public Housing
GREAT NECK, N.Y. - The people who live at Spinney Hill Homes here need some help. Their 50-year-old apartments are falling apart around them.
Volatile Investment Market Prompts Warning on Pricing
First came the chill left by the retreat of several leading low-income housing tax credit (LIHTC) investors.
Developers Choose Swaps for Security
Swaps have taken over from caps as the first choice of price-conscious borrowers using loans funded by tax-exempt bonds.
Fannie Mae and Freddie Mac lenders are used to rushing to close deals at the end of the year, but December 2007 was crazier than usual.
Putting the Squeeze On
Amid the ongoing credit crunch, the most entrepreneurial apartment developers—those who seek the maximum amount of construction debt available for their projects—are swallowing a dose of lowerleverage reality.
Getting In On the Ground Floor
Last fall, in the heart of Memphis, Tenn., workers swarmed over a gothic revival skyscraper that had stood vacant and crumbling for more than 10 years.
Affordable Housing Feels the Pain
While the housing crisis has focused on the mortgage meltdown, serious trouble has also settled over the affordable housing sector this year.