Amanda Taylor

You cannot solve a supply-side problem by focusing solely on demand-side solutions. The housing affordability crisis is a function of supply and demand. The underbuilding of homes and apartments since the start of the Great Recession has constrained supply while a growing population has increased demand. Today, the Star Tribune examined why housing prices in the Twin Cities have stubbornly resisted attempts to fight housing inflation. “The macroeconomic forces that have influenced demand — and they have, interest rates have moved a segment of demand to the sidelines — that’s happening concurrently with a 15-plus-year undersupply of housing,” said Housing First CEO James Vagle. ”To understand the housing market and to understand how housing prices continue to outpace other market segments in an inflation environment, you have to look at the undersupply. We simply don’t have enough homes.” #housing #inflation #housingpolicy https://lnkd.in/gSPswbHg

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Love to see this kind of housing decarbonization at scale happening in my home City of Saint Paul. The Inflation Reduction Act, the creation of Minnesota’s green bank (MNCIFA) and state & local elected/nonprofit leaders committed to carbon-smart, climate-resilient housing abundance made this happen. Just one more example of how Minnesota is uniquely positioned and building a thriving, equitable, climate resilient future…and part of why I’ve focused Footprint Development’s build & hold climate-resilient housing developments right here in my back yard. Market rate housing developers have catching up to do on decarbonization. That’s why I created Footprint Development…which develops Phius certified, ultra low carbon footprint, healthy housing that delivers superior climate risk adjusted returns for investors and better quality of life for occupants. It’s not rocket science, it’s repeatable, it’s scalable, and Footprint Development is doing it without additional subsidy. Carbon-curious? Reach out!

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The Twin Cities is the 12th most undersupplied housing market in the United States and having one of the major multi-family markets in the MSA all but halt production was a serious blow to stabilizing housing supply thereby tackling housing inflation. At the same time, Minneapolis saw rental inflation fall to +1% (compared to +14% statewide) because the city chose to welcome more development. Minneapolis's approach demonstrates that supply-side solutions are far better for renters and a healthy housing market. #housingpolicy #housing #zoning https://lnkd.in/ge5YEa4X

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Illinois faces serious—and sometimes overlooked—risks from climate change. "The good news," writes Dir. of Transportation Alex Hanson for the American Planning Association - Illinois Chapter, "is that there are unprecedented resources for communities across the state to leverage to reduce emissions." #climate #ClimateAdaptation #ClimateMitigation #transportation #FederalFunding #infrastructure

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From Evan Ramstad at the Star Tribune: The City of Rochester has modernized much of their housing approval process in an effort to increase housing supply, quickly. Their approaches are common sense and effective: ✅ Modernize public engagement to eliminate redundant & unnecessary hearings ✅ Update code and process from the 1980s/90s to be responsive and save special approvals and 'negotiations' for truly variance-type applications (Note: vast majority of MSP Metro housing developments are done as special approvals w negotiations) ✅ Simplify parking and aesthetic mandates ✅ Allow ADUs by right Great progress for Rochester and a helpful guide for statewide discussions on housing that will continue as long this problem exists - we are currently in a 106,000 housing unit deficit. "The city has done much of what legislators focused on housing are thinking that all Minnesota communities should do with zoning and building regulations." #housing #homebuilding #homeownership https://lnkd.in/gEXKwJHg

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Check out this segment by NBC News's Brian Cheung highlighting Footprint Development's Solstice Northeast (www.SolsticeMpls.com) and Minneapolis's success enabling more housing production & abundance in existing transit & amenity-rich urban neighborhoods. https://lnkd.in/egm_NmHw Footprint Development's work building low carbon, climate resilient, less car dependent housing & neighborhoods is only possible because of the forward thinking land use, transportation, and climate-resilience policies Minneapolis has in place. The story behind the story...is that today real estate markets do not widely or accurately price climate risk, and real assets face both physical and transitional climate risk as markets/governments react to climate change. An immense amount of existing U.S. real estate is currently located in high climate risk, low-readiness markets, including most today’s highest growth regions. As the realities of climate change begin to set in, markets begin pricing climate risk, and regulators & residents demand higher performance...there will be a flight to quality, climate-resilient assets in low climate risk locations. Minneapolis’ location and policies position it as a climate haven among U.S. metros, and Footprint Development's passivehaus (Phius) certified multifamily buildings are the pinnacle of building quality, efficiency and resiliency. This combination is how Footprint delivers superior climate risk adjusted returns for investors & healthier, quieter more comfortable housing for residents. How, what & where we build matters. For investors For communities For quality of life For the planet https://lnkd.in/egm_NmHw

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Civic Federation President Joe Ferguson has offered some great wisdom on the current fiscal challenges facing the City of Chicago and the Chicago Public Schools. We must look clearly at the facts and create long-term sustainable revenues and reduce the cost structure to address the significant gaps both of these local governments face. The Civic Federation is here, as it as been for more than a century, to provide facts for a rational debate. From the Civic Federation's newsletter: It is long past time for everyone — interested parties and the public alike — to begin the hard conversations we have long deferred. We cannot revert to unsustainable fiscal practices CPS has engaged in the past — including using scoop and toss and draining reserves during the State budget impasse in Springfield in 2016-17, and shorting pension contributions — to name a few. But those conversations will not be successful without all the facts being on the table in the public-facing way needed to force the parties to account for the consequences (i.e., costs and program impacts) of their practices and demands. The Civic Federation staff is working to set that table in two ways. First, with an analytical report that will bring CPS’ holistic financial situation into full public light. Second, and simultaneously, with a City Budget Roadmap report to be released ahead of the fast-approaching City budget cycle. The broad objective of both is to inform and elevate understanding, recalibrate narratives, and prioritize the debate to better align with the sobering realities.    For those who wonder whether there is anything adversarial in the endeavor, know that while we do not always get all the information needed, there is a high degree of collaboration and mutual respect in the process. As evidence of that, the programming for the Civic Federation’s September Board meeting will be a conversation with the City’s Budget Director and Chief Financial Officer.    So, into the breach we go. Together.

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What Are Tim Walz's Housing Initiatives? A Closer Look at Kamala Harris' VP Pick As housing affordability continues to be a pressing issue nationwide, Kamala Harris's selection of Minnesota Governor Tim Walz as her running mate for the upcoming election highlights a critical focus on housing solutions. During his tenure, Walz signed a historic $1 billion housing omnibus bill, the largest single investment in Minnesota’s history. This landmark legislation includes significant initiatives like $200 million for down payment assistance and a $150 million program specifically designed to help first-generation homebuyers, offering up to $35,000 in forgivable loans. The bill also funds a $350 million investment to build and preserve over 4,700 housing units across the state, reflecting Walz’s commitment to addressing Minnesota's housing crisis. As Harris and Walz join forces, it's clear that housing policy will play a pivotal role in the upcoming election. While the debate over the effectiveness of such programs continues, Walz’s track record provides a concrete example of proactive governance aimed at solving one of our nation’s most pressing challenges. What are your thoughts on housing affordability? How do you see these initiatives impacting the broader national conversation? #timwalz #kamalaharris #housingmarket

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While southeast Wisconsin vacancy rates have crept up from the wave of spec project developments that have been recently completed, this Hunter Turpin BizTimes Media article does an excellent job outlining the underlying strength of the market. There is a short-term excess supply challenge that the market will work through. Investors, Developers, and Lenders should remain focused on the fundamentals - Vacancy rates are still in the range of historically low levels, there are currently ZERO spec projects under construction, and Wisconsin has had several significant large economic development projects announced including the substantial Microsoft campus buildout in the 94 south market. Wisconsin's Industrial Real Estate Team Cushman & Wakefield | Boerke https://lnkd.in/grzBpJ7J

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More housing near transit in Minneapolis-St Paul: between 2009 and 2022, more than 52,000 units were built near high-frequency transit corridors with more than half affordable to people making up to 60% of area median income and 83% affordable for people making up to 30% area median income. Census data shows that 18.7% of renters do not have a vehicle at home, making housing near transit even more critical. The new housing also generates property tax revenue for the cities and counties served. https://lnkd.in/gVz62cvD (P.S. Looking to learn more about this? Michael Krantz, PE, LEED AP-ND spoke about this at Mpact Transit + Community 2023 – catch the video on our YouTube channel: https://lnkd.in/gigz3Ge4)

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A look back on housing at the 2024 MN Legislature from Star Tribune's Josie Albertson-Grove. The 2024 legislative session will be remembered for the strong start and progress of generational zoning reform, and also for the emergence of a diverse, bi-partisan coalition that has reset the housing discussion in Minnesota. "The fundamental challenge that we have in Minnesota is this huge shortage of homes," Rep Michael Howard (DFL-Richfield) "We need to take some serious steps to decrease the cost and increase the supply," Sen. Eric Lucero, CISSP,GCIH,GSEC,CISM,CISA,MBA (R-St. Michael) Housing First Minnesota is focused on building upon these efforts as we move ahead, in partnership with Minnesota Housing Partnership, Minnesota Realtors®, Habitat for Humanity of Minnesota, and the growing host of community and business organizations who are committed to creating a housing market with affordable choices, protecting the legacy of homeownership, and keeping Minnesota competitive for future generations. #housing #homeownership https://lnkd.in/gXXtBUJr

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Learn how Indianapolis Metropolitan Planning Organization (IMPO) is integrating transportation and community resiliency. 🔑 Understanding current trends and practices in resiliency and sustainability is key to positioning your agency well for PROTECT grants or other funding opportunities. 💡 In this discussion, Sarah Windmiller shares how our partners at IMPO are conducting a resiliency snapshot and a vulnerability assessment of the region to understand its ability to recover from and mitigate major natural or economic shocks. Sarah will also discuss how this work can help your agency develop a Resilience Improvement Plan (RIP) to secure grant funding. Check out our blog on integrating resilience and developing an RIP: https://hubs.la/Q02tl6K90

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Signs of Stabilization The total office availability rate in the downtown Chicago market decreased for a second consecutive quarter signaling a positive turn for the market. Over the last two quarters, total availability dropped by 70 basis points to 28.9%. The driver is sublease available space as it has decreased by just over 1.1 million square feet since the beginning of this year. This sharp decrease in available sublease space is an indicator that major tenants have finally right-sized their usable space and are offering less large blocks of sublease space to compete in the market. The power is expected to shift to owner’s hands to reset the market with the available direct space pricing.

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This week we are celebrating 30 years of the Illinois Alliance for Clean Transportation! On May 13, 1994, the Chicago Area Clean Cities (CACC) was founded as the 5th Clean Cities coalition initiated under the U.S. Department of Energy’s Clean Cities program (rebranded Clean Cities and Communities this year), adding to the existing 75+ coalitions nationwide. With our official Clean Cities designation from the DOE, our partners and members in Illinois have united efforts to tackle transportation challenges and drive transformation across the state. In 2022, CACC expanded to include the entire state of Illinois, changing its name to the Illinois Alliance for Clean Transportation. With your support, we have displaced over 200 million gasoline-gallon equivalents of petroleum; reduced more than 159,000 tons of greenhouse gas emissions; assisted stakeholders in using +13,000 alternative fuel, electric, and hybrid vehicles; and helped facilitate approximately 1,700 new electric vehicle charging stations in the Chicago area. We appreciate anyone who has been a part of helping us accomplish these milestones and look forward to the next 30 years! #EVcharging #AlternativeFuel #EV #HybridVehicle #GreenhouseGas #CleanCitiesCoalition

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The shift to the suburbs started during COVID and continues. Big question is what is the next suburb(s) to see development? With the traditional names of Blaine, Lakeville, Maple Grove, Plymouth, Shakopee running low on development land the homebuilders are working to figure out where buyers want to be. Utility availability, schools districts, amenities, transportation access just some of the factors involved. #landforsale #homebuilding #suburbs

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Recently, I spoke with MPR News about a proposal that places the burden of housing-related climate change efforts squarely on new construction. Minnesota is already a leader in energy efficiency; this proposal seeks to make already efficient homes more efficient while doing nothing to address the actual source of the problem, our aging housing stock. --- “That is where we have the largest greenhouse gas emissions, less efficiency, and frankly, the low-hanging fruit,” Erickson said. “From a cost-benefit perspective on climate, that is where the attention really should be focused, because our new homes are performing much better than our existing homes." #housing #climatechange #homebuilding #housingpolicy https://lnkd.in/gkpr2V38

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This article highlights the growing demand for office spaces in the West End and North Loop submarkets of the Twin Cities, with high asking rental rates and strong leasing activity. Despite rising vacancies in some areas, rents continue to increase, driven by desirable locations with access to amenities and downtown Minneapolis, while corporate consolidations and suburban property sales shape the market dynamics. https://lnkd.in/ghteZfzy

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Please see the below .

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