NAHMA Leaders Talk Trends
Alicia Clark, Seldin Company's President & CEO participated in the NAHMA Leaders Talk, where affordable industry leaders provide their insight and expertise on emerging trends for the upcoming year. Topics included: sustainability, green management, managing a mixed-finance property and trends for 2018.
See Alicia’s responses to some of these hot topics below.
What are the secrets to success in managing a mixed-finance property?
The industry is leaning heavily to mixed financing with both new construction and renovation/rehab work of existing sites. The ability to successfully manage these properties rests on a few key items: communication, organization and recognition. The properties are under tremendous regulatory oversight immediately, so working with the ownership representative, syndicator/investor, and key management personnel early on is vital. Understanding the commitments made, timeline and impact in order to establish from the first day the appropriate procedures/policies and training.
The final piece is staying active and involved with all related financing and monitoring agencies. Regulatory changes come often and being on top of new requirements will allow more complete and accurate implementation and the opportunity to make timely adjustments and decisions.
into your crystal ball, what will be the biggest trend in the affordable housing industry for 2018?
Renters will continue to look for amenities especially in LIHTC developments; the tax credit housing units in many areas are competing with market-rate developments placing emphasis on competitive elements. HUD housing developments will be exploring renovation opportunities through financing options, adding regulatory complexities.