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Volume 2 - Number 12 | June 22, 2004
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TOP STORY: Women, Minorities Will Play Larger Role in Housing's Future
According to the 2004 State of the Nation’s Housing report released last week at the Ford Foundation by Harvard University’s Joint Center for Housing Studies, women and minorities will play a larger role in housing’s future over the next decade. At the same time, new projections in the annual report suggest that household growth between 2005 and 2015 will be at least 10% higher than previously projected.
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INSIDER: Phoenix Realty's J. Michael Fried and Keith Rosenthal
Phoenix Realty Group, a private real estate firm with offices in New York City and Los Angeles, is more than halfway through capitalizing Genesis Workforce Housing Fund, its $100-million smart-growth equity fund, having raised $57 million to date.
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Investcorp, Sunrise Form JV To Develop Seniors Housing
Investcorp of New York City is joining forces with MacLean, VA-based Sunrise Senior Living Inc. to develop two seniors housing communities along the Eastern Seaboard. The $35-million partnership will result in new housing developments in Yonkers, NY and Upper St. Clair, PA.
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Panel Addresses NYC Middle-Income Housing
New York City Mayor Michael Bloomberg’s administration has outlined a plan calling for 65,000 new units of affordable housing for the city over the next five years, with 46% dedicated to low-income, 38% for moderate-income and 16% for middle-income residents. Is the plan feasible? Yes, according to a panel of multifamily real estate experts at the Buildings New York conference held on June 9 and 10.
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