Richmond’s Growth and the Affordable Housing Challenge: What’s Next?
Richmond has seen expansive growth over the last few years. Since 2020, more than 52,000 people have moved to the area, drawn by its charm, opportunities, and vibrant community. But with that growth comes a major challenge—housing affordability (WRIC).
Challenges in Public Housing’s Pursuit of IRA Funding
On August 16, 2022, President Biden enacted landmark legislation known as the Inflation Reduction Act of 2022 (IRA). The IRA earmarks a substantial $369 billion towards incentivizing the adoption of clean energy technologies, specifically targeting the affordable housing sector.
Unlocking Affordable Housing: A Dive into Tax Credits and LIHTC Program
The Department of Housing and Urban Development (HUD) offers various incentives and programs to address housing challenges. Tax Credit programs such as the Low-Income Housing Tax Credit (LIHTC) stand out as crucial mechanisms for developing affordable housing units in the US. While these options are promising, it is very important for owners and investors to seek out an experienced tax credit consultant.
RAD for PRAC Advisory Services
Dominion Due Diligence Group (D3G) is a full-service real estate due diligence company with an in-house team of experts helping to shape the affordable housing preservation industry by presenting housing solutions to Nonprofit Entities, Public Housing Agencies, Municipalities, Developers, Borrowers, Lenders, Equity Investors, General Contractors, and Design Professionals.
Office to Residential: A Solution for Adaptive Reuse of Corporate Spaces
In the fourth quarter of 2023, the Biden Administration stirred excitement in the multifamily industry by unveiling a White House Announcement. This release introduced additional resources and financing options, aiming to facilitate the conversion of office and commercial buildings into multifamily residences.
Rob’s Ramblings– Redefining RAD as Repositioning
The term “RAD Panel” has echoed through many housing discussions, but what concerns me is the sometimes-myopic nature of the program. Let’s re-phrase: RAD should realistically be called Repositioning.
Rob’s Ramblings– The Inflationary Reduction Act (IRA)
The Inflationary Reduction Act (IRA) has made headlines with a staggering $437 billion, but the question remains: Where is the love for housing programs?
Rob’s Ramblings– Office to Residential Initiative
The White House recently issued a FACT SHEET to create more affordable housing by converting commercial properties to residential use, accompanied by the Guidebook to Available Federal Resources.
Rob’s Ramblings– Asset Management Takes Center Stage
Q4 of 2023 has been a whirlwind. Having just concluded a string of six housing conferences over seven weeks, my mind is abuzz with a jumble of year-end housing reflections.Here’s a snapshot of the insights I gathered during my recent “tour” with fellow housing professionals:
Environmental Q&A
Amy Seim has been with D3G since 2001. She is responsible for managing her team of environmental project managers, overseeing day-to-day operations for the department, and finding opportunities to improve efficiencies in D3G processes.