Sheryl E. Ponds BSME, MBA

Check out our series on key insights for project financing for affordable rental housing

11

Dearfield Fund For Black Wealth's Managing Director Aisha T. Weeks, MPA ​estimates that 95​%​​ ​of their ​​borrowers would not have been able to purchase a home without Dearfield's support, since banks would not have been able to offer a first mortgage without that initial equity. Notably, more than half (54%) of recipients are women and nearly three-quarters (70%) are considered low-to-moderate income.  “Families are starting to see their home as the true asset it is and how they can leverage it for even bigger opportunities in the future,” Aisha ​says​​. Read more: https://lnkd.in/gwFGMxSg   Economic Architecture and the Center for Community Uplift at The Brookings Institution will host the Valuing Homes in Black Communities challenge in Fall 2024. We invite innovators with market- and policy-based structural innovations to learn more now and apply later this month: https://lnkd.in/e7pA4pwW - with Stuart Yasgur, Andre M. Perry, Santhosh Ramdoss, Gary Community Ventures

7

1 Comment

Safe Harbor is proud to partner with Our Homes, Our Votes, a nonpartisan project to raise the nation’s dire need for affordable homes and to register, educate, and mobilize more low-income renters and affordable housing advocates to vote. Across the United States, millions of families are struggling to find safe, decent, accessible and affordable homes. There are far too many who cannot afford to keep roofs over their heads and who are spending most of their incomes on rent, leaving them few resources for other necessities such as food, medications, and childcare—and in the worst cases, leaving them homeless. The nation’s affordable housing crisis is one we as a nation choose to allow or overcome. We have the resources to solve and end homelessness and housing poverty in America. Renters, especially low-income renters, are underrepresented among voters. To ensure low-income housing interests are addressed by elected officials, these renters and other low-income people must become engaged in the electoral process. According to a poll commissioned by NLIHC, 82% of respondents believe that the United States should be doing more to prevent homelessness. 74% of people in the U.S. support housing development programs that will build more homes that are affordable for low-income people. Nearly 9 in 10 people in the U.S. say it is important to them personally that their elected officials work to make sure there is enough affordable housing available. Voters want to see action and they want candidates to share their plans to address the crisis: they are asking about housing affordability on the campaign trail all around the country. Safe Harbor of Chester County and other partners of the Our Homes, Our Votes project call on all candidates to address how they would preserve and build more affordable homes, increase rental assistance, prevent families from experiencing evictions, protect renters from discrimination and abuse, and end homelessness and housing poverty in America once and for all. We urge all voters to ask candidates: What would you do to make homes affordable for our nation’s lowest-income people? And we urge all eligible voters to show up at the polls—because housing is built with ballots! NLIHC Poll: https://lnkd.in/e5hbvCxd

12

Far too many communities have their planning and zoning policies established in a manner that drive needed new housing into the discretionary review process. “It is in this process in which affordability and access can be lost, and the production of needed new housing slowed. #housing #homebuilding #housingpolicy #planning

11

Accessory dwelling units (ADUs) are gaining traction as a solution to address housing affordability, but barriers like high construction costs and limited financing options still stand in the way. In 2023, the Bipartisan Policy Center brought together industry leaders and policy experts to explore how ADUs can help ease our nation’s housing supply shortage. We discussed innovative solutions to expand ADU development, empower homeowners, and overcome key challenges. Learn more from this discussion: https://lnkd.in/ezJvgpk7 

16

1 Comment

Capital Opportunities: Unlocking CRE Potential in Washington, DC & Baltimore  The Washington, DC, and Baltimore regions present dynamic opportunities for commercial real estate investors, driven by their strategic locations, robust economies, and diverse industries as reported in the below CommercialEdge.com article. The DC metro area benefits from its role as the nation's capital, with strong demand for office, retail, and multifamily properties, particularly near Metro-accessible areas. High-income demographics and steady job growth further bolster the region's appeal, making it a hub for institutional investors and developers seeking long-term stability. Meanwhile, suburban markets surrounding DC are flourishing, as companies prioritize flexible office spaces and proximity to a growing remote workforce. Baltimore complements DC with its focus on healthcare, education, and port-driven logistics. The city’s affordability relative to DC and its revitalization initiatives, including waterfront redevelopment projects, are attracting businesses and residents alike. Investors find value in Baltimore's opportunity zones and historic districts, which offer incentives for adaptive reuse and new developments. Together, the Washington DC and Baltimore markets provide a compelling mix of stability and growth potential for commercial real estate stakeholders. As a commercial real estate broker specializing in the DC and Baltimore areas, HannaCRE is here to help you navigate these thriving markets. Whether you’re looking to acquire, lease, or reposition a property, let’s discuss how we can provide tailored solutions to meet your investment goals. Reach out today to take the next step in capitalizing on these exceptional opportunities. https://lnkd.in/egPahP72

1

It's time to make your property greener and more resilient. Sign up for tomorrow's webinar covering HUD's Green and Resilient Retrofit Program - a game-changer for multifamily housing owners. Learn about the three funding paths to reduce emissions, improve efficiency, and future-proof your properties against climate impacts. Sign up at https://bit.ly/4azsF7f #RealEstateManagement #MultifamilyHousing #GreenBuildings #SustainableHousing #PropertyManagement

2

🏡 Housing for All: A Critical Election Issue 🏡 As we head into the 2024 election, one issue is becoming increasingly central to our future: housing affordability. Housing reform needs to be about more than just supply. It’s about equity, fairness, and ensuring that homeownership is within reach for ALL communities. For Black Americans, increased housing opportunities must come with protections against displacement and targeted support for first-time buyers. Did you know that Black homeownership rates are lower today than they were in the 1960s, despite decades of fair housing laws? The promise of the Fair Housing Act remains unfulfilled for many Black Americans, with homeownership—and the generational wealth that comes with it—still out of reach. As housing prices soar and new developments reshape our cities, pro-housing movements like YIMBY (Yes In My Backyard) are gaining momentum, advocating for building millions of new homes, zoning reforms and smarter housing policies that could unlock millions of new homes across the U.S. Vice President Kamala Harris has made affordable housing a central issue in her campaign, but the question remains: Will these policies benefit the Black community? 💡 Why it matters: Generational wealth: Homeownership is one of the most powerful tools for building wealth across generations, but Black families face systemic barriers—ranging from redlining to predatory lending—that limit access to affordable housing. Gentrification risks: New developments often lead to gentrification, displacing long-term residents from historically Black neighborhoods. Without equity-focused policies, the YIMBY movement could further widen the wealth gap. Access to affordable housing: Harris’s plan to build 3 million new homes offers hope, but we need to ensure these homes are affordable and accessible to Black families, not just the wealthy few. https://lnkd.in/eNN6qc2s by Mike Green Joe Ventrone Joe Cardillo Gillian Marcelle, PhD Samantha Katz Elizabeth Leiba Shari Dunn Castleigh Johnson Nathaniel Crawford Alan Williams Niles Lichtenstein Marisa Calderon Jennifer Castenson Nadera Zawadi Keita Nikki Fisher-Quittmeyer, CLTC Nikki Merkerson #HousingCrisis #AffordableHousing #YIMBY #Election2024 #HomeownershipSustainability

24

3 Comments

Asking #rents on 2-bedroom #multifamily units in Miami-Dade County continued to trend downward from historic highs achieved during 2021-2023, improving #affordability conditions for renters. The median asking rent in October $2,999, down 6% from the prior month and 10% from one year ago, based on about 7,000 listings in this county on the #MIAMI #MLS and Rental Beast. This is the first time the asking rent hit below $3,000 since July 2021 ($ 2,850). Asking rents are 43% higher compared to October 2019. Asking rents are likely to continue to moderate over the next three years, with nearly 25,000 units under construction, or 19% of the current stock, according to Cushman & Wakefield analysis. However, Miami-Dade's rental demand outlook is positive. #Job growth is at about 2% vs 1% nationally. Most of the jobs are in construction, education & health, and retail, where workers are more likely to rent than to own. Asking rents are $600/month less compared to the monthly #mortgage plus insurance and taxes. Scroll the report below for more city-level market data and download report: https://lnkd.in/ef_QspYr MIAMI Commercial Miami Association of Realtors BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS®

26

3 Comments

Your input is critical - help shape the future of affordable housing! Join the DC Department of Housing and Community Development (DHCD) at the public hearing on the FY 2024 Consolidated Annual Performance and Evaluation Report (CAPER) and the Section 108 Proposed Projects on Tuesday December 17, 2024 at 6:30 pm in DHCD's Multi-Purpose Room (1909 Martin Luther King Jr. Avenue SE, Washington, DC). For more information, visit ➡️ https://lnkd.in/dQhVVNnt Register Here ➡️ https://lnkd.in/dsS8jcGr ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ What is the CAPER? The Consolidated Annual Performance and Evaluation Report (CAPER) is an annual requirement submitted to U.S. Department of Housing and Urban Development (HUD) within 90 days after the fiscal year ends. The report includes performance data on how the District spent HUD funds including the Community Development Block Grant (CDBG), HOME Investment Partnership (HOME), National Housing Trust Fund (HTF), Emergency Solutions Grant (ESG), and Housing Opportunity for People with AIDS funds (HOPWA). ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ ▪️ What is Section 108? The Section 108 Loan Guarantee Program should not be confused with the Housing Choice Voucher - Section 8 program. Section 108 is a program offered by HUD for Community Development Block Grant (CDBG) recipients to access low-cost loans for economic development, housing, public facilities, and infrastructure projects. This will allow the District of Columbia to finance individual projects and create loan funds for multiple projects across several years. This program is a critical and valuable public investment tool used to help stimulate private investment and fill funding gaps for affordable housing projects.

6

📘 New Chapter Spotlight: "Multifamily Housing Preservation" in "Navigating HUD Programs: A Practitioners' Guide to the Labyrinth, Second Edition" In Chapter 2, edited by George Weidenfeller, dive deep into the intricacies of HUD's Multifamily Housing Preservation programs. Despite some programs no longer being active, understanding their historical context and enduring restrictions is crucial for any legal professional working to refinance, rehabilitate, and preserve affordable housing. This chapter provides essential insights into navigating past and present HUD programs under the National Housing Act, highlighting the complexities of dealing with legacy obligations in housing projects. A must-read for attorneys, developers, and anyone involved in the affordable housing sector looking to enhance their expertise and impact on housing preservation. 🔗 Grab your copy now and stay ahead in your practice: https://lnkd.in/enX8pu_M  #HUDPrograms #AffordableHousing #LegalGuide #HousingPreservation #ABAForum #HUDBook

6

1 Comment

A crisis is a terrible thing. At the same time, throughout history, crises can sometimes inspire solutions. I'm so glad I had a chance to catch up with Rafael E. Cestero and kirk goodrich on this and so much more. Indeed, we saw innovation emerge from the tragedies of Hurricane Katrina and Superstorm Sandy, in the wake of the mortgage crisis and the Covid pandemic. Programs like Neighborhood Stabilization, homelessness prevention and rapid rehousing, the Rental Assistance Demonstration program, and many others were cultivated as leaders took up the mandate to innovate amid major upheaval. Today, as millions of Americans struggle with still-too-high housing prices, we face another critical turning point. I was glad to also discuss my optimism that the Inflation Reduction Act and other critical legislation can be transformed into housing legislation to expand opportunity across the country.

42

2 Comments

From Vision to Reality: 3by30 Housing Initiatives The housing initiative, known as 3by30, marks its third anniversary with a renewed commitment: to elevate Black homeownership rates to unprecedented levels by 2030. Since its inception, the initiative has seen promising progress, catalyzed by collaborative efforts among housing organizations determined to reverse historical trends. Lisa Rice, president of the National Fair Housing Alliance, emphasized the deliberate strategies that have fueled this turnaround, including expanded credit access and targeted financial programs. Despite these gains, leaders acknowledge challenges remain in achieving the ambitious 3by30 goal of adding 3 million new Black homeowners by the end of the decade. At a recent conference hosted by the Black Homeownership Collaborative, stakeholders gathered to assess achievements and strategize future actions. The initiative's success hinges on bridging disparities rooted in redlining and other discriminatory practices, which have perpetuated wealth gaps across generations. Key initiatives highlighted include specialized credit programs and policies supporting first-generation homeowners, bolstered by reforms in mortgage underwriting and zoning regulations. These efforts aim not only to increase homeownership rates but also to stimulate economic growth and narrow wealth disparities, benefiting communities long marginalized in the housing market. Despite recent setbacks such as housing inventory shortages and economic fluctuations, optimism prevails that the 3by30 objective remains within reach. As Bryan Greene of the National Association of REALTORS® underscores, bold and decisive action is imperative to effect lasting change and ensure equitable access to homeownership. Looking ahead, stakeholders are committed to leveraging these strategies to propel the initiative forward, buoyed by a shared vision of a more inclusive housing landscape by 2030.

2

Tackling the housing crisis requires innovative collaboration, and the Public-Nonprofit-Private Partnership model offers a promising solution. By empowering nonprofits with both CDC and CDFI designations, we can bridge the financing gap and bring more affordable starter homes to market. This approach leverages strategic partnerships and data-driven insights to ensure that every stakeholder—from builders to lenders—is aligned and accountable. As we look to scale these efforts, it's crucial for policymakers, the private sector, and local communities to come together and support initiatives like the Neighborhood Homes Investment Act. Let's work together to build a brighter, more affordable future. Website: mclennanindustrial.com  Bio: https://lnkd.in/gJihJmJ9  Google Business Page: https://lnkd.in/gHn-YT5m  YouTube: https://lnkd.in/gxz7UURi  Instagram: https://lnkd.in/g3gNBFkV  Facebook: https://lnkd.in/gNmDVBBE  X: https://lnkd.in/g4f-8_aJ  TikTok: https://lnkd.in/g8_RtaNV  LinkedIn: https://lnkd.in/gms5TXMP #PugetSound #TenantRepresentation #LandlordRepresentation #SIOR #CCIM #IAMC #NAIOP #CRE #CommercialRealEstate #IndustrialRealEstate #Industrial #Logistics #Manufacturing #Warehouse #Seattle #Tacoma #KidderMathews #Kidder #SupplyChain #CommercialLand #WarehouseSpace #Warehouse #KingCounty #PierceCounty #ThurstonCounty #Seattle #Tacoma #RealEstate #SupplyChainManagement

2

Miami — Asking rents are 43% higher compared to October 2019. Miami-Dade's rental demand outlook is positive. Job growth is at about 2% vs 1% nationally. Most of the jobs are in construction, education & health, and retail, where workers are more likely to rent than to own. Asking rents are $600/month less compared to the monthly mortgage plus insurance and taxes.

3

1 Comment

#LoanFundFriday HAC's Loan Fund supports Black-led and owned housing developers, such as Alexandria Development, which is improving housing conditions in Warrenton, GA, where almost 1/3 of homes are poor quality, overcrowded, or unaffordable. Learn more in our latest Loan Fund Impact Report: https://loom.ly/mSoXI-A

2

The nation's fair and affordable housing crisis is starting to receive the attention that it deserves, and the National Fair Housing Alliance calls on lenders and policymakers to implement sensible supply and demand strategies that will democratize opportunity and give everyday people the fair housing opportunities they deserve. ✅ $100 billion to fund upfront first-generation down payment assistance (DPA) for consumers who lack inherited wealth so they can overcome the primary obstacle to fairly accessing homeownership-a lack of down payment. ✅ Aligning the GSEs'-Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBanks)-first-generation DPA definitions with the Downpayment Toward Equity Act's definition to ensure a lack of complexity in the program's implementation for millions of prospective homebuyers. ✅ Fannie Mae and Freddie Mac should include eligibility for first-generation homebuyers in their affordable lending programs to add 1.2 million households of prime home-buying age (25-54) to the group of potential participants, of which the majority are Black or Latino households. ✅ The Federal Housing Finance Agency should require the Federal Home Loan Banks (FHLBanks) to create equity plans supporting first-generation homebuyers. ✅ Congress should pass legislation to substantially increase the amounts the FHLBanks devote to housing and community development in exchange for their tremendous taxpayer subsidies, and the funding must affirmatively further fair housing under the Fair Housing Act. ✅ Mortgage lenders with existing first-time homebuyer programs should add first-generation DPA to the programs to reduce racial homeownership gaps. ✅  Pass the Neighborhood Homes Investment Act, with fair housing principles to minimize displacement of current residents of distressed neighborhoods. The tax credit would cover the gap in construction and rehabilitation costs of homes for owner-occupancy and would add 500,000 new and/or rehabilitated affordable homes in urban, suburban and rural communities hardest hit by the Great Recession. ✅ Ensure our nation's robust fair housing and lending laws are fully enforced and fund private, nonprofit fair housing organizations that process over 75% of housing discrimination complaints with $125 million to provide critical assistance to the victims of housing discrimination. These innovative supply-side and demand solutions would create equitable opportunities for communities of color as well as consumers in underserved, rural neighborhoods, and ultimately grow the economy for everyone. https://lnkd.in/eEFsBkhm

39