CREtech Affordable Housing Briefs October 28, 2022 – Australia seeks to build 1M AH, MSquared raises AH funds, Housing Affordability Improved + more
October 28, 2022
In this week's issue, investments are led from down under. The Australian government will be allocating an initial A$350m to develop one million new homes over five years, beginning in 2024. On the North American investment front, @Alicia Glen, former NYC Deputy Mayor's real estate firm, launched a $20M fund to provide finance to affordable housing developers. Euclid Glenmore Apartments, an affordable housing development in NY, has secured an $11.5M investment from Barings .
In the news, a shift is being observed as real estate tech is beginning to set its sights on the multifamily sector. From a macro standpoint, housing affordability at the national level improved in August, according to National Association of REALTORS? 's (NAR) Housing Affordability Index. A beacon of hope for DE&I, a Newark-based affordable housing proposal is being undertaken by African American females.
CREtech is back in London on May 9-10, 2023 and will be returning to New York in September 2023. Stay updated and register your interest here.
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Australia woos super funds to social and affordable housing sector
Australia’s new Labor government has unveiled an agreement aimed at building a million new homes over five years from 2024.
Former NYC Deputy Mayor Raises Fund To Back Affordable Housing Developers
Former New York City Deputy Mayor for Housing and Economic Development Alicia Glen’s real estate firm has launched a new fund aimed at providing financing to affordable housing developers, kicking off with $20M in seed capital from Trinity Church Wall Street.
Barings Announces $11.5 Million Financing For Euclid Glenmore Apartments, An Affordable Housing Project in Brooklyn, NY
Barings, one of the world's leading investment managers, announced that it will provide $11.5 million in permanent financing for Euclid Glenmore Apartments, an affordable multifamily housing development in the East New York section of Brooklyn. The project is being developed by the Lantern Organization and Mega Contracting Group.
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领英推荐
Where Proptech Meets Affordable Housing
Initially geared primarily toward luxury homes, proptech now is breaking into multifamily across the board. Technological solutions are expanding into each phase of a building’s life cycle, from planning to management of the completed community. The impact of proptech can be vast, whether it be ease of living or sustainability.
Housing Affordability Improved in August 2022 as Monthly Mortgage Payments Declined
At the national level, housing affordability improved in August compared to the previous month, according to NAR’s Housing Affordability Index.
Proposed affordable housing project in Newark comes with distinction: It’s being developed by Black women
Entrepreneur extraordinaire Adenah Bayoh , who has forced many to rethink how they build community, is doing it again. This week, the restaurateur/developer announced she is partnering with community organizer Octavia Frazier-Porter on Southside View, a 40-unit multifamily housing complex for low-income residents, at 654-668 S. 11th St. in Newark’s South Ward.
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CREtech’s Michael Beckerman : “We’re in the Second Inning” of Proptech Adoption
“The thing that gives me great pride is that we’re expanding the conversation” around proptech, Beckerman says. In addition to hosting a Who’s Who of major owners and developers, “we’re talking about climate, we’re talking about affordable housing, we’re talking about construction.”
CREtech New York Draws Notable Names and Some Cool Tech
The annual two-day event drew investors, innovators and real estate executives looking for ways to get the edge in a rapidly evolving proptech industry, especially in lingering challenges of the pandemic era.
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