NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT MANAGERS
24
ECONOMIC TRENDS HAVE FORCED WORKERS TO SEEK
SUBURBAN HOUSING ALTERNATIVES PARTICULARLY IN
THE FIRST AND SECOND RINGS AROUND OUR MAJOR CITIES.
WORK-FORCE
HOUSING
By Andy Sands
Managing Director of
Multi-Family Investing
"WORK-FORCE HOUSING" is a term that is bandied around in the
multi-family investment business. Lenders, particularly the agencies,
define it as unsubsidized, affordable housing that serves the majority of
low to middle-income households. The guidelines are fairly specific and
relate to rent relative to median income levels, which varies by area,
and property characteristics such as vintage and the level of amenities.
Many institutional investors apply a definition that is broader and more
flexible, but the objectives are very similar.
Peter Finley
SVP of Marketing and
Capital Raising
