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Volume 2 - Number 23 | December 14, 2004
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TOP STORY: Housing Programs Slashed 1% Across the Board
By Sule Aygoren Carranza
The US House of Representatives and Senate have approved the omnibus spending bill for fiscal 2005, cutting funding by nearly 1% across the board on a majority of HUD-sponsored housing programs. Of significant concern to low-income housing advocates, however, is certain language in the bill affecting how HUD administers Section 8 housing voucher funds.
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INSIDER: GMH Communities Trust’s Gary Holloway
By Stacey Corso
On Nov. 4, GMH Communities Trust went public, doing an IPO after providing student and military housing since 1985. Looking at the company’s capital backing and plans for future acquisitions in its emerging marketplace, MHF recently sat down with GMH founder, chairman and CEO Gary Holloway—who also controls about 30% of its stock.
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Senator Blasts Administration’s Affordable Housing Stance, Proposes Alternatives
By Stacey Corso
At least one heavy-hitting politician is throwing his support to affordable housing programs. During a Dec. 7 luncheon hosted by the New York Housing Conference and the National Housing Conference in New York City, US Senator Charles Schumer (D-NY)—newly elected to a second term—joined business leaders in criticizing the Bush Administration’s cuts to affordable housing programs.
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Apartments Will Improve in ’05, But Investors May Not See It
By Sule Aygoren Carranza
Demand is back for apartments and absorption levels are finally demonstrating enough strength to catch up with—and even overtake—the mounting pace of new supply. That’s the consensus of Chicago-based Real Estate Research Corp., Principal Real Estate Investors and Torto Wheaton Research, a Boston-based business unit of CB Richard Ellis, in their annual report, “Expectations and Market Realities in Real Estate: 2005.”
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