Adolfo Carrion Jr. has joined the list of candidates coming to our ABO Mayoral Candidates Forum on Housing Development, kicking off the BuildingsNY Show at 8 a.m. on April 24th. Space will be limited, so sign up for the Show and Forum now by clicking here or on the logo below.
How important is a Mayor to real estate? The Lobbying Commission just issued its annual report for 2012 and the top ten lobbying clients were all pushing development projects. Major League Soccer topped the list, spending almost $1.7 million to push for its stadium plan. Atlantic Yards rounded out the top ten with about $450,000 in lobbying expenses.
If your projects depend on FHA insurance, you may need a sharper pencil. The FHA announced that due to congressional inaction on the budget they will run out of insurance authority on March 27th and anything in the pipeline without a firm commitment already is probably out of luck.
Even if Congress gets its act together, the hits keep coming for multifamily finance. The Federal Housing Finance Agency just issued a plan for Fannie and Freddie to reduce their new unpaid principal balance commitments in 2013 by ten percent. That translates to about $6.4 billion less in multifamily lending.
Glub. Department of Buildings Commissioner Robert LiMandri told a Schack Institute panel this week that the City is planning for a 27 inch rise in sea level by 2050. The Holland Tunnel mouth is currently 2 inches above sea level.
At least there is still time to take our Registered in Apartment Management class starting March 13th. Make sure your staff knows. Any one interested should contact olga@registeredmanager.com