Ban on affordable housing mandates passes Louisiana Senate

A proposed law that could stop New Orleans from requiring real estate developers to include affordable housing in apartment and condo projects passed the Louisiana Senate on Monday (May 8).

The Senate voted 29-9 to approve Senate Bill 162 that bans local government from implementing affordable housing mandates under a policy known as inclusionary zoning. The bill was authored by Sen. Conrad Appel, R-Metairie, whose district includes part of Uptown. 

New Orleans Democrats Sens. Karen Carter Peterson, J.P. Morrell and Wesley Bishop voted against the bill. The legislation now heads to the Louisiana House for consideration.

Appel said the bill removes mandates and instead encourages voluntary negotiations between developers and cities to create affordable housing in exchange for incentives such as tax breaks or zoning variances. Requiring developers to rent or sell  apartments and condos for below market rates would result in developers walking away, he said. 

“They won’t do it that way,” Appel

... read more at: http://www.nola.com/politics/index.ssf/2017/05/affordable_housing_requirement.html

New Four Seasons Under Construction Lands $40M Condo Sale

Four Seasons Hotel and Private Residences One Dalton Street, Boston

Millennium Tower’s reign as Boston’s priciest condo development may be short-lived, as the developer of the new Four Seasons Hotel and Private Residences in Back Bay said he has scored the city’s most expensive sale.

Carpenter Co. CEO Richard Friedman announced Thursday he had a $40M deal for a unit in the new One Dalton tower, the Boston Globe reports. The previous record holder was John Grayken’s $35M grand penthouse at Downtown Crossing‘s Millennium Tower, purchased last year. The 61-story Four Seasons development will be the city’s tallest residential building when it opens next year. 

The average price of a condo in Boston has risen 68% in the

... read more at: https://www.bisnow.com/boston/news/multifamily/bostons-second-four-seasons-scores-record-breaking-condo-sale-73084

Pocket Deed Now Offering Leads to Go with Pocket Listings

Portland, OR, May 05, 2017 –(PR.com)– PocketDeed.com is proud to announce their new Leads section, where professionals all across Portland, Oregon can find it easier to gain construction leads across a thriving area. Having always been dedicated to improving customer satisfaction and offering as much help and assistance, PocketDeed now provides a leads service that can help cut out the middle man for realtors, contractors and financial experts alike.

This service is built around making sure that the time invested from idea to investment is quicker than ever before. Anyone looking to engage in the thriving real estate directory of Portland can find the help needed in making the most informed, intelligent choices possible.

Benefits of Leads

For Realtors

With the help of PocketDeed’s new leads program, realtors can make use of permits to hunt down new potential listings quicker than ever. If client is trying to make an investment on a

... read more at: http://www.pr.com/press-release/715211

Prosperous Oregon considers historic renter protection law

PORTLAND, Ore. (AP) — Yesica Sanchez recently found a notice attached to the front door of her two-bedroom apartment that said her rent was almost doubling. The divorced mother held the paper in her hand in a state of shock.

“We wanted to faint. After I pay all of my bills, I don’t have anything left to pay that extra amount,” Sanchez said while visiting the apartment of her cousin, who got a similar notice. So did every other resident of the Normandy Apartments in Portland.

Oregon has become one of America’s most popular moving destinations, with tens of thousands of newcomers each year drawn by its forests and mountains, its quirky city of Portland and its job opportunities. Oregon set a historical low jobless rate in March of 3.8 percent.

Eastie Condo Market Set To Grow

Nearly 2,300 residential units have been approved for 21 developments in East Boston since 2014, more than any other city neighborhood except for the South Boston waterfront.

Nearly 2,300 residential units have been approved for 21 developments in East Boston since 2014, more than any other city neighborhood except for the South Boston waterfront.

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A succession of luxury apartment projects has turned the East Boston waterfront into a popular transit-oriented development cluster that’s a 2-minute subway ride to downtown.

The next wave will test the market’s ability to command top dollar for condominiums, including developer Lendlease’s 492-unit Clippership Wharf, which will begin presales of 80 condos June 5 in advance of its projected

... read more at: http://www.bankerandtradesman.com/2017/04/eastie-condo-market-set-grow/