Photo: Rhode Island Row
is organized around a landscaped main street that leads to Metrorail’s Rhode Island Avenue-Brentwood station (courtesy of Rhode Island Row).
Award Winning Affordable Housing in Washington D.C.
PD&R Best Practices
April 15, 2014
Washington D.C.’s population has experienced rapid growth and with it a housing market severely lacking in affordable rental units. In an effort to provide a solution, Urban Atlantic and A&R Development Corporation collaborated with local stakeholders to build Rhode Island Row, a 70,000 square foot mixed-use affordable residential community. The building earned Urban Land Institute’s Jack Kemp Workforce Housing Models of Excellence Award. Rhode Island Row contains 274 apartments, of which 55 are for very low-income renters and 219 are for workforce households. A&R Development Corporation joined with the D.C.’s Department of Housing and Community Development to attain zoning for the building that will maintain a 20-year affordability restriction. More…
Survey Finds U.S. Population is Optimistic About Housing Market
FannieMae Press Release
April 14, 2014
The Fannie Mae National Monthly Housing Survey reports the nation’s current attitude about homeownership, renting, the economy and household finances. The March 2014 survey shows improved optimism including: 69 percent of people surveyed felt it was a good time to buy a home, 52 percent felt positive about securing a mortgage and almost half of all respondents felt that their household expenses were significantly lower now than one year ago. More…
||“Out of Reach 2014” –NLIHC Report |
National Low Income Housing Coalition (NLIHC)
April 9, 2014
The annual study published by National Low Income Housing Coalition (NLIHC) delves into the cost affordability of the rental market on full-time workers. Fair Market Rent (FMR) is defined by U.S. Department of Housing and Urban Development (HUD) as a person spending no more than 30 percent of their income on housing costs. “In the United States, the 2014 two-bedroom Housing Wage is $18.92. This national average is more than two-and-a-half times the federal minimum wage, and 52% higher than it was in 2000. In no state can a full-time minimum wage worker afford a one-bedroom or a two-bedroom rental unit at Fair Market Rent.” More...
Housing Scorecard Published for March 2014
U.S. Housing and Urban Development Press Release
April 8, 2014
The Obama Administration’s U.S. housing market findings for March 2014 were released by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury. Highlights include: home purchase prices have stayed stable, foreclosure filings decreased 27 percent in the last year bringing them to a nine year low, the Making Home Affordable Program and Federal Housing Administration (FHA) has assisted over eight million homeowners manage their mortgages during the past five years. More…
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