Housing Development Boom Hits Contra Costa County, But How Long Will It Last?
Despite Contra Costa County being a bit of an afterthought for investors and developers, a steady pipeline of new housing units has brought the county into a development boom. Ongoing demand for housing and accessibility to BART and other means of transportation has allowed people to live in a more affordable area while commuting to their jobs in urban cores.
For the first half of 2018, 904 units were completed in Contra Costa County, with over half of those units in San Ramon and Walnut Creek, according to CBRE's San Francisco Bay Area Multifamily Q2 2018 report. Outside of North Alameda, which boasted 1,738 completed units, Contra Costa County is the only other area in the East Bay to have delivered completions in the first half of 2018.
“Because the overall job market in the greater Bay Area is at an all-time high and there is an enormous shortage of new housing to meet this demand, renters and first-time buyers are seeking more affordable housing alternatives in the cities…
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WeWork Signs Oakland's Largest Office Lease In 12 Months At TMG Partners' Building
WeWork continues to grow its Bay Area presence. The coworking giant added a lease for 68K SF at 2201 Broadway in Oakland this week, marking the city's largest lease in 12 months.
TMG Partners, which purchased the building in 2016 and…
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JPMorgan Bets Big On Silicon Valley With Plans To Build New Fintech Campus
New York-based banking giant JPMorgan Chase & Co. is planning to enter the nation's tech mecca with a new financial tech hub.
The fintech campus, in Silicon Valley's East Palo Alto, will house more than 1,000 employees and will be to the north of Facebook's campus and to the south of Google's campus, CNBC reports.
JPMorgan's Silicon Valley campus will be in Stanford…
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As 2020 Approaches, Thousands Of Affordable Housing Units Through The Federal LIHTC Program Are Set To Expire
While the industry grapples with the new Qualified Opportunity Zone program that is expected to funnel hundreds of billions of dollars into blighted communities across the country, another federal program created to fuel low-income housing development is at risk.
Hundreds of thousands of affordable apartment units built under the federal Low-Income Housing Tax Credit program are slated to hit their 30-year mark between 2020 and 2029 — meaning these units will no longer have to be set aside for low-income…
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Changing Perceptions, Opportunity Zones Could Mean Big Things For Affordable Housing In Baltimore
There is an affordable housing crisis all over the country, and those involved in the market spent at least the time between President Donald Trump's election and the immediate aftermath of his tax cut bill wondering if it was about to get worse.
As the country approaches a year under the new tax law, the affordable housing development and financing community is cautiously optimistic about Baltimore's future. Part of that is driven by the preservation of the 4% and 9% Low Income Housing Tax Credits, part of it is due to the opportunity zones created by the new tax law, and part is due to the East Baltimore development plan made possible by the U.S. Department of Housing and Urban Development's Choice Neighborhoods Initiative Grant.
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