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News Clips

The Roanoke Times , Thursday, August 27, 2015
(RECAP: A new cohousing community is being developed in Floyd County. But what is cohousing? On Saturday, the members of Jubilee Cohousing are hosting an information event at the CoLab in Roanoke about what they are doing. Cohousing is an intentional, collaborative community formed by people who have agreed to live in the same neighborhood together. Shadowlake Village in Blacksburg is a cohousing association that formed in 1997 and has 33 household units still going strong. Jubilee Cohousing is modeling its new development on their model and they are seeking more members to join.)
The Washington Post , Thursday, August 27, 2015
(RECAP: A leading group that represents housing authorities across the country is balking at the federal government’s new campaign to boot high-earning tenants from subsidized apartments. And it’s urging the Obama administration and Congress to let them stay. In a letter this week, the director of the Public Housing Authorities Directors Association told HUD Secretary Julian Castro that a report highlighting “over income” tenants that triggered the change in policy was deeply flawed.)
Inside NOVA, Thursday, August 27, 2015
(RECAP: September will bring a renewed push as an Arlington government advisory panel gets into the weeds on the proposal to redevelop Ballston Common Mall. The government’s Site Plan Review Committee has set a meeting date of Sept. 16 to consider issues related to transportation, landscaping and open space on the site, which is projected to include redevelopment of the mall plus construction of a 22-story, 405-unit residential tower with retail at its base.)
Reuters, Thursday, August 27, 2015
(RECAP: A Federal Reserve policymaker who has argued for a near-term U.S. interest rate hike said central bankers should take a "wait-and-see" approach to tightening policy due to a financial market sell-off and China's economic slowdown. The comments by Kansas City Fed Bank President Esther George, aired on Thursday in an interview, were a sign that concerns over financial market turmoil have penetrated deeply into the U.S. central bank, further reducing the likelihood of a Fed rate hike in September.)
Charlottesville Tomorrow, Wednesday, August 26, 2015
(RECAP: The preparations for next year’s Charlottesville budget began this week when the Planning Commission met to establish funding priorities for the capital improvement program. The capital budget for the current fiscal year includes about $8.2 million in funding for projects considered to be Planning Commission priorities. These range from $1 million to implement the McIntire Park master plan to $50,000 to conduct a new small-area plan.)
NCSHA, Wednesday, August 26, 2015
(RECAP: Yesterday afternoon, Fannie Mae introduced the HomeReady™ product, a new lending option for low- and moderate-income borrowers. This new initiative will replace Fannie Mae’s MyCommunityMortgage® products, which are currently the firm’s primary offering for low-income consumers. Fannie Mae’s new HomeReady product reflects several changes to its MyCommunityMortgage offering that are designed to help it better support affordable lending to lower income home buyers. These include more targeted income limits, increased eligibility, and more flexible underwriting standards.)
RealEstateRama, Wednesday, August 26, 2015
(RECAP: The Mortgage Bankers Association projects between 13.9 and 15.9 million additional households will be formed by 2024, making the next decade one of the strongest in housing in U.S. history, according to a new research paper released today. The report, titled Housing Demand: Demographics and the Numbers Behind the Coming Multi-Million Increase in Households, shows that the housing demand surge will be driven by Hispanics, Baby Boomers and Millennials.)
The Virginian-Pilot, Tuesday, August 25, 2015
(RECAP: The Portsmouth Redevelopment and Housing Authority will spend $25 million to $30 million using low-income tax credits, state and federal grants and some city dollars to rebuild the housing complex, increasing to 200 units from 178, in three phases over five years. The financing requires the authority to build low-income housing in return for receiving the tax credits, and the funding mechanism, Rental Assistance Demonstration, requires all apartments or substantially all apartments to be rebuilt. Apartments likely will hold from one to three bedrooms; some in Lincoln Park now have up to five. It is the first major investment at the site since Lincoln Park was built in 1960.)
The Virginia Gazette , Tuesday, August 25, 2015
(RECAP: Small town living versus dense suburban growth patterns took center stage Monday evening as a number of city residents opposed plans for a large-scale development that's been years in the making. Voicing concern for the community's current growth projectory, traffic and safety, residents dinged Poquoson City Council members and developers regarding the planning of the Legacy of Poquoson. Plans call for the project to include 238 single-family homes, 107 townhouses, 11 cottages and 200 apartments. Poquoson City Council unanimously approved rezoning and the master plan for the project.)
NCSHA, Monday, August 24, 2015
(RECAP: Last week, Moody's Investors Service released a report projecting the impact a surge in millennial homebuyers will have on state Housing Finance Agencies (HFAs). Moody's concludes that if home purchases by millennials were to increase by 20 percent, HFAs would originate an additional 12,800 loans for the sector and an average of 300 additional loans per year.)
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