It Can Cost $750,000 to Build an Affordable Housing Unit in California. Here’s Why.

A single unit of housing for a low-income family can cost nearly $750,000 to build in California, according to a government report that provides new details on the cost to taxpayers of building affordable housing in states with high land prices and heavy land-use regulations. A new report from the Government Accountability Office highlights stark disparities in the cost to build affordable housing that qualifies for tax credits between states like California, which has more land-use regulations, and Texas, where it is much easier to get approval to build. A typical unit for a low-income family in San Francisco and Los Angeles costs around $400,000 to build. In Texas, where land-use regulations are much looser, the cost is about a third of that. Median costs in Chicago and New York City were also high, at $315,000 and $282,000 respectively, the GAO found. The investigation into the efficiency and effectiveness of Continue reading "It Can Cost $750,000 to Build an Affordable Housing Unit in California. Here’s Why."

Harvest Properties, Independencia Asset Management close buy of Constitution Square

Harvest Properties and joint-venture partner Independencia Asset Management LLC said Sept. 20 that they have completed their acquisition and recap of a mixed-use property located in downtown Berkeley, California. Financial terms weren’t announced. The property, known as Constitution Square, is a three-story, 36,000 square foot building located at 2168 Shattuck Avenue. PRESS RELEASE EMERYVILLE, Calif.–(BUSINESS WIRE)–Harvest Properties and joint-venture partner, Independencia Asset Management LLC (“IAM”), have completed the acquisition and recapitalization of a mixed-use property located in the heart of Downtown Berkeley, California, for an undisclosed amount. Known as Constitution Square, the property is a three-story, 36,000 square foot building located at 2168 Shattuck Avenue directly adjacent to the Downtown Berkeley BART Station and its newly renovated BART Plaza.
Since 2015, Harvest and previous partner, The Roxborough Group, completed over $1.5 million in capital improvements, including lobby and elevator cab renovations, a roof replacement and upgrades to the
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Greenparc Management: New Member of Interplay Crew

I’m very excited to announce the latest addition to our suite of B2B services at Interplay. Greenparc is a facilities management business providing high-end cleaning, facilities maintenance and supplies (managing and replenishing everything from coffee to snacks to toilet paper) solutions to a number of hotels, offices, social clubs and co-working spaces in the US. They have had a very promising start currently providing services to the likes of Mondrian Hotel, Vayner Media and Chelsea Piers to name a few. Greenparc is taking a bit of a different approach to this business. True to its name it’s focusing on using sustainable eco-friendly products and partnering with clients to get the most out of their workspace. The company is led by Eoin Heavey, a Berkeley undergrad/Columbia MBA , who was a former Irish Davis Cup tennis player before working at ESL Investments, Eddie Lampert’s hedge fund. He’s passionate about culture, improving the work
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The Housing Supply Puzzle

The Housing Supply Puzzle: Part 1, Divergent Markets by Evan Karson, Joseph McGillicuddy, and B. Ravikumar Over the past several months, the pace of U.S. home sales has shown few signs of growth, and as of February 2018, overall home sales were only slightly higher compared with year-ago levels. Analysts have pointed to a tight housing… Read More The post The Housing Supply Puzzle appeared first on The Big Picture.

Finnish real estate firm Kojamo valued at $2.5 billion in IPO: Reuters

Finnish real estate company Kojamo Oyj on Thursday was valued at 2.1 billion euros ($2.5 billion) in its initial public offering ahead of its market debut on Friday. Kojamo, which had properties worth 4.9 billion euros as of end-March, announced its IPO last month, aiming to boost growth and broaden its ownership base. The IPO was oversubscribed and the price was set at 8.50 euros per share, compared with an initial range of 8.50-10.00 euros, the company said in a statement. Kojamo expects gross proceeds from the IPO of about 150 million euros. Kojamo’s largest owners, including pension funds Ilmarinen and Varma and Finnish trade unions, also sold shares in the IPO but remained as shareholders.

Finnish real estate firm Kojamo valued at $2.5 billion in IPO: Reuters

Finnish real estate company Kojamo Oyj on Thursday was valued at 2.1 billion euros ($2.5 billion) in its initial public offering ahead of its market debut on Friday. Kojamo, which had properties worth 4.9 billion euros as of end-March, announced its IPO last month, aiming to boost growth and broaden its ownership base. The IPO was oversubscribed and the price was set at 8.50 euros per share, compared with an initial range of 8.50-10.00 euros, the company said in a statement. Kojamo expects gross proceeds from the IPO of about 150 million euros. Kojamo’s largest owners, including pension funds Ilmarinen and Varma and Finnish trade unions, also sold shares in the IPO but remained as shareholders.

Finnish real estate firm Kojamo valued at $2.5 billion in IPO: Reuters

Finnish real estate company Kojamo Oyj on Thursday was valued at 2.1 billion euros ($2.5 billion) in its initial public offering ahead of its market debut on Friday. Kojamo, which had properties worth 4.9 billion euros as of end-March, announced its IPO last month, aiming to boost growth and broaden its ownership base. The IPO was oversubscribed and the price was set at 8.50 euros per share, compared with an initial range of 8.50-10.00 euros, the company said in a statement. Kojamo expects gross proceeds from the IPO of about 150 million euros. Kojamo’s largest owners, including pension funds Ilmarinen and Varma and Finnish trade unions, also sold shares in the IPO but remained as shareholders.

Finnish real estate firm Kojamo valued at $2.5 billion in IPO: Reuters

Finnish real estate company Kojamo Oyj on Thursday was valued at 2.1 billion euros ($2.5 billion) in its initial public offering ahead of its market debut on Friday. Kojamo, which had properties worth 4.9 billion euros as of end-March, announced its IPO last month, aiming to boost growth and broaden its ownership base. The IPO was oversubscribed and the price was set at 8.50 euros per share, compared with an initial range of 8.50-10.00 euros, the company said in a statement. Kojamo expects gross proceeds from the IPO of about 150 million euros. Kojamo’s largest owners, including pension funds Ilmarinen and Varma and Finnish trade unions, also sold shares in the IPO but remained as shareholders.

Finnish real estate firm Kojamo valued at $2.5 billion in IPO: Reuters

Finnish real estate company Kojamo Oyj on Thursday was valued at 2.1 billion euros ($2.5 billion) in its initial public offering ahead of its market debut on Friday. Kojamo, which had properties worth 4.9 billion euros as of end-March, announced its IPO last month, aiming to boost growth and broaden its ownership base. The IPO was oversubscribed and the price was set at 8.50 euros per share, compared with an initial range of 8.50-10.00 euros, the company said in a statement. Kojamo expects gross proceeds from the IPO of about 150 million euros. Kojamo’s largest owners, including pension funds Ilmarinen and Varma and Finnish trade unions, also sold shares in the IPO but remained as shareholders.