How Other Cities are Fighting the Displacement so Many in NYC Fear

We often hear that New York City has a uniquely hot real estate-market, along with some of the best tools—from the nation’s largest stock of public housing to a robust inventory of rent-stabilized units—to ensure low-income renters can live here.

But when we’re looking globally, New York City is only the 64th least affordable city in the world—in much better stead than places like Hong Kong, Sydney and a bunch of California’s most lux communities. And both globally and nationally, we’re certainly among a number of cities experimenting with new anti-displacement strategies.

There are opportunities for learning from other cities, however. Take New York City’s new mandatory inclusionary housing, which the de Blasio administration has touted as the nation’s most aggressive. It’s worth noting that Los Angeles managed to pass a policy this November with some provisions that ours doesn’t have. Developers who receive density bonuses are not only required

... read more at: http://citylimits.org/2017/02/09/how-other-cities-are-fighting-the-displacement-so-many-in-nyc-fear/

Largest Apartment Transaction to Date in Portland’s Urban Core Changes Hands for $126.7 Million

PORTLAND, OR – Marcus Millichap announced its Institutional Property Advisors (IPA) division has closed the sale of the iconic 21-story, 284-unit Yard apartment tower in Portland, Oregon.

The development of this asset was completed in August 2016, sold pre-stabilization with 50 percent of the apartments leased, and is the largest multifamily sale to date in Portland’s urban core.

“This is a pivotal transaction in Portland, firmly establishing the emerging Central Eastside neighborhood as not only a desirable place live, but the next place for institutional and international buyers to invest,” said Elizabeth Davis, IPA executive director.

Davis, located in IPA’s Portland office, exclusively represented the seller, Block 67 LLC. Pete Shelton and Kim Grant, both located in IPA’s Seattle, Washington office, assisted Davis. Philip Saglimbeni, an IPA executive director, along with Davis, procured the buyer, Land and Houses, a subsidiary of a Bangkok-based investment firm and first-time investor in the Portland market.

Yard

... read more at: http://www.multifamilybiz.com/News/7463/Largest_Apartment_Transaction_to_Date_in_Portlands...

Report: Distressed sales at nine-year low

ATTOM Data Solutions’ 2016 U.S. Home Sales Report found that 16.2 percent of single family home and condo sales in 2016 were distressed sales — bank-owned sales, short sales or foreclosure auctions sold to third-party buyers — the lowest level for such sales since 2007.

Distressed sales decreased  from 18.8 percent of all sales a year earlier. Bank-owned (REO) sales accounted for 8percent of all sales in 2016, down from 10percent in 2015 and at its lowest level since 2006.

Short sales, homes that sold for less than the combined amount of loans secured by the property, accounted for 5.5 percent of all home sales in 2016, down from 6percent in 2015 and at the lowest level since 2008. Foreclosure auction sales (trustee’s sales or sheriff’s sales) selling to third-party investors (not including those going back to the foreclosing lender) comprised 2.8 percent of all home sales in 2016, down from 2.9

... read more at: http://www.thetitlereport.com/TTR/Articles/Report-Distressed-sales-at-nineyear-low-69190.aspx

IPA Closes $127M Sale of Portland’s Yard Tower – Multi

Yard apartment tower

Yard apartment tower

Portland, Ore.—Institutional Property Advisors, a division of Marcus Millichap, announced the sale of Yard apartment tower, located at 22 N.E. 2nd Ave. in Portland, Ore., to Land and Houses for $126.7 million.

The 21-story, 284-unit property offers studios and one- and two-bedroom apartments, 57 of which are affordable. In-unit features include city and river views, European style appliances, stainless steel quilted back splashes, condo-quality finishes, washers and dryers and private balconies and patios. Amenities include a fitness center, spa, covered parking spaces for 202 cars, electric charging stations, a rooftop terrace and 24,700 square feet of first floor retail space, according to Yardi Matrix.

“This is a pivotal transaction in Portland, firmly establishing the emerging Central Eastside neighborhood as not only a desirable place live, but the next place for institutional and international buyers to invest,” said Elizabeth Davis,

... read more at: https://www.multihousingnews.com/post/ipa-closes-sale-of-portlands-yard-tower-for-127m/

Report: Distressed sales at nine-year low | News | The Title Report

ATTOM Data Solutions’ 2016 U.S. Home Sales Report found that 16.2 percent of single family home and condo sales in 2016 were distressed sales — bank-owned sales, short sales or foreclosure auctions sold to third-party buyers — the lowest level for such sales since 2007.

Distressed sales decreased  from 18.8 percent of all sales a year earlier. Bank-owned (REO) sales accounted for 8percent of all sales in 2016, down from 10percent in 2015 and at its lowest level since 2006.

Short sales, homes that sold for less than the combined amount of loans secured by the property, accounted for 5.5 percent of all home sales in 2016, down from 6percent in 2015 and at the lowest level since 2008. Foreclosure auction sales (trustee’s sales or sheriff’s sales) selling to third-party investors (not including those going back to the foreclosing lender) comprised 2.8 percent of all home sales in 2016, down from 2.9

... read more at: http://www.thetitlereport.com/TTR/Articles/Report-Distressed-sales-at-nineyear-low-69190.aspx

Largest Apartment Transaction to Date in Portland’s Urban Core Closed by Marcus & Millichap’s IPA Division for $126 …

PORTLAND, Ore.–(BUSINESS WIRE)–Marcus Millichap (NYSE:MMI) today announced its Institutional Property
Advisors (IPA) division has closed the sale of the iconic 21-story,
284-unit Yard apartment tower in Portland, Oregon. The development of
this asset was completed in August 2016, sold pre-stabilization with 50
percent of the apartments leased, and is the largest multifamily sale to
date in Portland’s urban core.

“This is a pivotal transaction in Portland, firmly establishing the
emerging Central Eastside neighborhood as not only a desirable place
live, but the next place for institutional and international buyers to

... read more at: http://www.businesswire.com/news/home/20170207005571/en/Largest-Apartment-Transaction-Date-Portland%E2%80%99s-Urban-Core

Largest Apartment Transaction to Date in Portland’s Urban Core Closed by Marcus & Millichap’s IPA Division for $126 …

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PORTLAND, Ore.–()–Marcus Millichap (NYSE:MMI) today announced its Institutional Property Advisors (IPA) division has closed the sale of the iconic 21-story, 284-unit Yard apartment tower in Portland, Oregon. The development of this asset was completed in August 2016, sold pre-stabilization with 50 percent of the apartments leased, and is the largest multifamily sale to date in Portland’s urban core.

“This is a pivotal transaction in Portland, firmly establishing the emerging Central Eastside neighborhood as not only a desirable place live, but the next place for institutional and international buyers to invest,” said Elizabeth Davis, IPA executive director.

Davis, located in IPA’s Portland office, exclusively represented the seller, Block 67 LLC. Pete Shelton and Kim Grant, both located in IPA’s Seattle, Washington office, assisted Davis. Philip Saglimbeni, an IPA executive director, along with Davis, procured the buyer, Land and Houses, a subsidiary of a Bangkok-based investment firm and

... read more at: http://www.satprnews.com/2017/02/07/largest-apartment-transaction-to-date-in-portlands-urban-core-closed-by-marcus-millichaps-ipa-division-for-126-7-million/

Largest Apartment Transaction to Date in Portland’s Urban Core …

PORTLAND, Ore.–(BUSINESS WIRE)–Marcus Millichap (NYSE:MMI) today announced its Institutional Property
Advisors (IPA) division has closed the sale of the iconic 21-story,
284-unit Yard apartment tower in Portland, Oregon. The development of
this asset was completed in August 2016, sold pre-stabilization with 50
percent of the apartments leased, and is the largest multifamily sale to
date in Portland’s urban core.

“This is a pivotal transaction in Portland, firmly establishing the
emerging Central Eastside neighborhood as not only a desirable place
live, but the next place for institutional and international buyers to

... read more at: http://www.businesswire.com/news/home/20170207005571/en/Largest-Apartment-Transaction-Date-Portland%E2%80%99s-Urban-Core

Seattle chugs along as America’s hottest home market despite …

Seattle’s home-price increases keep surging ahead of the rest of the nation even as the local housing market is showing a clear trend of slowing a bit.

Across Greater Seattle, the typical single-family house cost 10.4 percent more in November than a year ago, the biggest increase of any metro area in the country, according to the Case-Shiller home-price index released Tuesday.

It’s the third straight month that the Seattle area led the nation as the hottest housing market after a nine-year stretch without being on top.

Fastest-rising home prices compared with a year ago

1. Seattle +10.4%

2. Portland +10.1%

3. Denver +8.7%

4. Tampa +8.1%

5. Dallas +8.1%

Source: Case-Shiller home price index

The winter is normally the slowest time of year for the local real-estate market. The growth in home values was

... read more at: http://www.seattletimes.com/business/real-estate/seattle-chugs-along-as-americas-hottest-home-market-despite-slowing-a-bit/

For sale: 6 charming homes in Portland, Maine

West End. Known as the West Mansion, this 1912 Georgian Revival home spans four stories, 17 rooms, and 13,674 square feet. Designed by Frederick Tompson, the nine-bedroom house boasts nine fireplaces and original details like hand-painted wallpaper, custom built-ins and wainscoting, Tiffany lamps, and a central staircase made of tiger maple.

The 0.6-acre property includes mountain views, a terrace, and a three-car garage. $2,650,000. Ed Gardner, Ocean Gate Realty, (207) 415-4493.

East End. This 2015 condo has views of downtown and Back Cove. The three-bedroom apartment features an open layout, polished concrete floors, built-in shelving, soapstone kitchen counters, a mudroom, a gym, and an office.

Outdoor areas include

... read more at: http://theweek.com/articles/677490/sale-6-charming-homes-portland-maine