Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.
This week by the numbers
RentCafé looked at the the distribution between fully-affordable and partially-affordable buildings, completed and under construction, both at national and metro level and checked the grading of their location. The study found that at a national level, only 42 percent of the existing U.S. stock of affordable apartments is located in high-opportunity locations (A and B-rated); the remaining 58 percent is located in low-opportunity neighborhoods (C and D-rated locations). In Philadelphia, unfortunately, the scales of the fully-affordable stock tip in favor of lower-opportunity neighborhoods: 45 percent of fully-affordable buildings are in A and B-rated locations, and 55 percent in C and D-rated areas. However, of all the partially-affordable units available and under construction, 39 percent can be found in “good” neighborhoods. As for what the future holds regarding partially-affordable housing, it looks like only 23 percent will be located in B-rated areas, while the remainder 77 percent will be developed in C-rated locations.
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