Tandem

HUD has proposed relaxed loan sizing standards to enhance access to FHA-insured financing for multifamily housing, addressing current market conditions. Draft mortgagee letters suggest changes that would raise LTV/LTC ratios and reduce DSCRs for both affordable and market-rate properties. The updates include more favorable terms for properties meeting affordability criteria and a new category for Middle Income Housing. These revisions, pending review, are set to be implemented by the end of 2024, promoting housing stability and production. https://lnkd.in/d5zjr-vp

Tampa Bay Lightning owner Jeff Vinik announced that every full-time employee of Vinik Sports Group will receive a bonus from a $20 million pool following the sale of his majority stake in the team. Each worker will get at least $50,000, demonstrating Vinik’s ongoing commitment to supporting his team. Known for his philanthropy, Vinik has donated over $60 million to local nonprofits and invested in revitalizing Tampa’s downtown. His reputation as an owner is built on generosity and community focus, highlighted by acts like paying employees during the 2012-13 NHL stoppage. Vinik will remain a minority partner for three more years. https://lnkd.in/dR5XEUJZ

Investment in Opportunity Zones has taken a sharp downturn amid uncertainty surrounding the program's future. With its potential expiration looming in 2026, investors are increasingly hesitant to commit, despite the program’s attractive tax incentives. While discussions continue around possible reforms or extensions, many are reassessing their strategies.?https://lnkd.in/g3YJ-cnD

Mayor Brandon Johnson proposed a $300 million property tax hike, the largest since 2016, to address Chicago's significant budget gap and avoid service cuts and layoffs. This decision breaks a key campaign promise but aims to secure city services and prevent 3,500 job losses, including police and firefighter positions. The proposed budget supports an additional pension payment to avoid deeper financial issues, securing savings of $3.9 billion by 2030. Johnson's plan includes reallocating $570 million from tax-increment financing and other operational efficiencies. Critics argue it could impact residents and call for audits and alternative funding, while supporters prioritize stability. https://lnkd.in/dyJFKjPV

Congratulations to President-elect Donald Trump. After a hard-fought contest, this moment gives us an important opportunity to come together, listen, and move toward a more united future. With openness and mutual respect, we can tackle the challenges ahead and make positive changes that benefit all Americans. Here’s hoping this new chapter brings growth, peace, and a fresh new chapter to our nation.

The southeastern U.S. faces a long recovery following hurricanes Helene and Milton, which caused an estimated $300 billion in combined damages and significant disruptions to research, wildlife, and communities. Helene brought unprecedented flooding, destroying years of scientific work at UNC Asheville and impacting major data centers like the National Centers for Environmental Information. Milton compounded the devastation with deadly tornadoes and further destruction. Florida’s Archbold Biological Station and Mote Marine Laboratory were particularly hard-hit, with wildlife and research programs heavily affected. Despite tireless restoration efforts, experts stress that full recovery will take time, emphasizing the need for ongoing preparedness and resilience. https://lnkd.in/dwwqBX-P

The latest residential building awards highlight six key wellness design trends that are shaping the future of development. These include biophilic design, smart home technologies for health, and adaptable spaces that cater to physical and mental well-being.? https://lnkd.in/e7kS4K-N

Interstate migration trends show high earners and retirees are leaving high-tax, highly regulated states to more tax-friendly states like Florida and Texas. These trends are driven by factors such as lower tax burdens, more affordable living costs, and better economic environments in the destination states. These migration shifts are reshaping the economic landscapes of both the states losing and gaining residents. https://lnkd.in/e3SkevJX

Vanderbilt University is planning a $520 million campus in West Palm Beach, marking a significant investment in Florida's educational landscape. This new project highlights the growing appeal of the area for academic institutions and provides a prime opportunity for real estate growth in the region.?https://lnkd.in/eRzkKtJG

New IRS migration data reveals that big blue states are losing people and wealth, while big red states are the biggest beneficiaries of both. This shift highlights significant trends in population movement, with states like Florida and Texas seeing gains in both residents and income. https://lnkd.in/esnmT_Xz