San Francisco has the reputation as the most bulletproof apartment market in the country, but a torrent of new construction promises to test its armor, as does reinvigorated condominium building....More
Amidst its turmoil, the City of Seattle has drafted a proposal for establishing citywide micro-apartment (aka “micro-unit” and “micro-housing”) regulations. The good news is that “DPD [Dept. of Planning and Development] has found that micro-housing provides an important lower-cost housing option that is appealing to many renters, and we recommend that it continue to be allowed to meet this demand.”...More
Young people shunning the suburbs in favor of the hustle and bustle of city life are leading the charge in the “reurbanization of America,” real estate mogul Sam Zell told CNBC on Tuesday....More
As more people across the country are living alone, the costs of rent and real estate are soaring in many urban areas. Cities like New York and Vancouver are trying to get the most out of available apartment space by creating “micro” apartments. Many of these apartments are smaller than what was previously allowed under the law....More
For developers in San Francisco, “it’s the best of times, and it’s the worst of times,” says Panoramic Interests CEO Patrick Kennedy.
If you’ve just put a building on the currently under-supplied market, it’s a really good time. But if you’re in the earlier stages of a project, everything is getting expensive....More