SAN DIEGO—With developers paying so much attention to high-end market-rate apartments and 60% AMI affordable housing, middle-income supply has dwindled and is now in great demand, Wakeland Housing's VP/COO Rebecca Louie tells attendees at RealShare San Diego here on Nov. 15. Speakers on the panel “Multifamily Market: Discussing Trends and Planning for the Future” discussed the affordable-housing issue at length, as well as other challenges this sector faces.
Jim Neil, EVP and partner with Kidder Mathews, said, “We do a good job of providing housing at the top end and at the bottom end, but we're not so good at the middle.” He asked the panelists what they see in the 80% AMI space.
Louie said there's a huge gap in this space, causing tenants in lower-end housing to stay longer and crowding out the 60% AMI cohort. “Middle development is seen as a need.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
