With rising construction costs, a New York Build 2020 Expo panel shared their thoughts about an industry concern: How can affordable housing yield profits?

What’s topping the checklists of property management concerns? A New York Build 2020 Expo panel agreed that in the upcoming decade, multifamily property owners will need to focus on two areas: amenities and legal requirements. Renovations Needed to Stay Competitive Owners will need to invest in upgrading their properties to stay current with tenants’ changing lifestyles. “With almost every lobby renovation, one of the key challenges is where do all the packages go and how do you distribute them,” said William T. Payne, principal at O&S Engineers & Architects. “What if the mailroom is way too small for Amazon?” More residents are ordering deliveries of not just meals but now groceries. Payne stated this raises additional security issues with more people knocking on the door. He also noted the rising demand for bicycle parking and charging stations for electric vehicles. With these types of property upgrades, owners need to be honest in their requests for proposals (RFPs), said Carmen Rainieri, regional director at Skanska. This includes providing accurate information about pricing and logistics. In working with contractors and consultants, “collaboration Read the full article…

Operators need to prepare for skilled nursing facility surveys, which will help them obtain financing.

HUD has removed its three-year requirement for section 223(f) refinancing.

NIC data projects a growing need for baby boomers’ senior housing. This generation is expected to explore different healthcare and group living options.

Experts say the private and public sectors must work together to scale construction and provide more affordable housing options.