Northeast Multifamily Housing Hub News

New York, Philadelphia, Baltimore & Boston Hubs NORTHEAST MULTIFAMILY HOUSING HUB NEWS

Vol. 14 No. 8 Thomas Langston, Acting Phila. Hub Director, [email protected], May 2015 New Housing Leadership I am proud to have worked with Ben Metcalf to help transform the multifamily Biniam Gebre, program office and launch RAD, which is, stepped down by the way, nearing $1 billion of new in from his position vestment into public housing. ..We have as Acting FHA removed some of the barriers to home- Commissioner/ ownership, making it more affordable by www.hud.gov/local/shared/working/r3/mfhsg.cfm?state=pa Assistant Secre reducing premiums and encouraging ac tary for the Office cess by clarifying policy and procedures. Inside this Issue: of Housing on Much of the work on access, affordability April 6. He has and more financially sustainable programs New Acting FHA Commissioner…...... Pg. 1 join the Deputy Secretary’s team as was only possible because of a more Transfers of Project-Based Assistance..Pg. 2 a Senior Advisor to take Housing’s structured approach to risk management focus on operational effectiveness throughout the organization.” How Does a CFL Lamp Work?...... Pg. 2 Agency-wide. Ed Golding, the Secretary’s Senior Advi

Risk Sharing Program……………….....Pg. 2 In a message to the HUD staff, he sor on Housing Finance, has stepped into Lamp Recycling Resources...…….…….Pg. 2 stated, in part: the position of Principal Deputy Assistant Secretary for Housing. He is a strong ad Interest Rate Reductions……………...Pg. 3 “In one way or another, a key ele vocate of affordable housing and has ADA Accessibility……………..…...….Pg. 3 ment of almost every one of our helped to develop a proposal to expand successes is operational effective funding for the Housing Trust Fund and Low Income Housing Demand………..Pg. 3 ness. That’s not an accident. When worked with the Dept. of Justice to craft I arrived, I saw an organization with consumer relief as part of mortgage set Alzheimer’s Disease……………..…….Pg. 4 dedicated, hardworking people who tlements with the large lending institu Lithium Smoke Alarms………….....….Pg. 4 were making a tremendous differ tions. ence in housing. I wanted to refine Interior Décor Trend…………….…..Pg. 5 the processes we use to help Prior to his service at HUD, he was a Sen Be a Reporter……………………..….Pg. 5 things run more smoothly. And I ior Fellow at the Urban Institute where he am very happy that we have been played an instrumental role in launching HUD Portfolio Summary………...…...Pg. 5 able to accomplish so much in this the Housing Finance Policy Center, a area. leading research voice on housing finance Equal Access to Assisted Programs…...Pg. 5 matters. He began his career at the Fed Rents on the Rise………………....…...Pg. 5 Working on extremely challenging eral Home Loan Bank Board during the issues with such an elite team has savings and loan crisis and then joined U.S. Housing & Market Conditions.…..Pg. 6 been inspiring, heartwarming and Freddie Mac where he worked for 23 PHFA Housing Services Conference.... Pg. 6 truly memorable. In my roles as years. At Freddie Mac, he held a variety General Deputy Assistant Secre of senior positions from investor relations Health Benefits of Board Games..….....Pg. 5 tary and as Acting Commissioner, to strategy and research. Updated ASHRAE/ANSI/IES Standard...Pg. 5 I have had the opportunity to get to know many different aspects of this Prior to working in mortgage finance, he “Around the Hubs”……………...….PP. 7-9 organization. And as I did so, I be taught at the Univ. of Pennsylvania and came more and more impressed the Univ. of Florida. He has an AB in ap with you- your dedication, plied mathematics magna cum laude from knowledge, skills, and most im Harvard and a PhD in economics from portantly, commitment to making a Princeton. difference. VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 2

Transfers of Project-Based Assistance Risk Sharing Program

HUD published a notice in HUD’s Section 542(c) Risk the Federal Register, “HUD Sharing Program, adminis Approval of Requests for tered by 33 state and local Transfers of Multifamily Housing Finance Agencies Housing Project-Based Rent (HFAs), has been very suc al Assistance, HUD-Held or cessful, with the financing of Insured Debt, and Income- 1,000 loans totaling nearly $6 Based Use Restrictions,” billion in principal supporting effective April 30, 2015, that more than 110,000 affordable rental homes, since 1992. establishes the terms and conditions by which HUD will approve a request for the The program is an increasingly important part of meet transfer of project-based rental assistance, debt held or ing HUD’s strategic goal to support affordable housing insured by the Secretary, and statutorily required in preservation and development. Among the top 12 pro come-based use restrictions from one multifamily hous ducing HFAs are: MassHousing, Rhode Island, New ing project to another (or between several such pro Hampshire and Maryland. jects). Two new risk sharing initiatives are the Section 542(b) This preservation tool, for transferring project based Qualified Participating Entity (QPE) Green Risk Sharing rental housing assistance from one property to another, and Federal Finance Bank (FFB) Risk Sharing Pro will better meet the needs of tenants in the very-low and grams. The Green Risk Sharing Program is designed to low income categories. It will also allow HUD to author preserve older affordable properties and encourage in ize the transfer of existing project-based subsidies and stallation of energy-saving features. In return for using liabilities from obsolete or economically nonviable hous at least 5% of loan proceeds for energy retrofits identi ing to housing that better meets the needs of the assist fied in a Green Needs Assessment, HUD and QPEs will ed tenants. This also provides a path forward for those share risk on loans that offer more favorable loan-to projects pending approvals. value and debt service coverage, but require higher MIP than conventional Section 542(b) loans. The Federal Register be read in its entirety at: Similarly, in order to facilitate the expansion of rental https://federalregister.gov/a/2015-06776 housing, an inter-agency partnership has been created between HUD and the U.S. Treasury/Federal Financing How Does a CFL Lamp Work? Bank (FFB). Under the initiative, financing costs are significantly reduced compared to the cost of tax- Compact florescent lamps exempt bonds under current market conditions. In Oc (CFLs) produce light different tober 2014, the initial transaction was closed with the ly than incandescent bulbs. In New York City Housing Development Commission. Par an incandescent, electric cur ticipants will assume a 50% risk on all loans. The plan rent runs through a is to offer the program to Level I risk share HFAs in the wire filament and heats the present 3rd quarter of 2015. filament until it starts to glow. In a CFL, an electric current is Lamp Recycling Resources driven through a tube contain ing argon and a small amount Used lamps containing mercury are a hazard to the en of mercury vapor. This gener vironment and must be disposed of properly. Three re ates invisible ultraviolet sources that provide information on laws, regulations light that excites a fluorescent coating (called phosphor) and lamp recyclers are as follows: on the inside of the tube, which then emits visible light. A CFL’s ballast helps "kick start" the CFL and then regu  Association of Lighting and Mercury Recyclers– lates the current once the electricity starts flowing. www.almr.org  Northeast Waste Management Official’s Assoc.– Although CFLs need a little more energy when they are www.newmoa.org first turned on, once the electricity starts moving, CFLs  EPA– www.epa.gov/osw/hazard/wastetypes/ use about 70% less energy than incandescent bulbs! universal/lamps VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 3

Interest Rate Reductions ADA Accessibility

On April 19, 2013, HUD pro The Americans with Disabilities Act (ADA) vided guidelines to its field is sometimes confused as a building code. offices regarding processing It is a civil rights law that operates in part Interest Rate Reduction (IRR) under a document called ADA Standards requests. Due to historically for Design. low interest rates, and as an alternative to a refinance un ADA accessibility applies to all publically der Section 223(f) or Section 223(a)(7), a mortgagor accessible buildings regardless of the year may request a reduction of the interest rate on their ex they were built in order to attain readily achievable barrier re isting multifamily mortgage loan, thereby significantly moval. Buildings built or renovated after 1990 or 2010 are improving the property's cash flow. An IRR, unlike a loan held to a more stringent standard of accessible design. modification, does not alter the loan documents or any terms of the loan other than the interest rate. Both the property owner and the tenant share the responsibil ity of complying with ADA, including removing barriers or Borrowers may realize significant savings in debt ser providing accessible devices such as written materials and vice resulting from an IRR. For Section 202 and Sec computer-aided services. tion 223(f) loans, debt service savings may be used for operation of the project or deposited in the pro ADA accessibility, however, is much broader than physical ject's reserve for replacement account. Any debt ser modifications. It also applies to owner policies, practices, or vice savings that is not used for operations or deposit procedures to allow disabled individuals with access to any ed in the project's reserve for replacement account goods or services offered to all residents. flows directly to residual receipts and is subject to a sweep. In order to deposit debt service savings into a The following groups are protected by the ADA: property's reserve for replacement account, the borrower must present a Capital Needs Assessment (CNA) that  Someone with a physical or mental impairment that sub confirms that additional deposits into the reserve for re stantially limits one or more major life activities (e.g., walk placement account are warranted. A new CNA is not ing, talking, hearing, etc.). required to fulfill this requirement. An existing CNA may  Individuals with a record of impairment that previously lim be used to substantiate additional deposits. ited life activities, such as a history of cancer now in remis sion. In order to obtain an IRR, certain processing fees must  Anyone who is regarded as having a disability even if their be paid to the Department. Non-profit organizations life activities are not substantially limited (e.g., controlled may borrow funds from the operating or reserve ac diabetes). count of the property to pay the fees associated with getting an IRR. The borrowed funds must then be re Owner and management agents should be thoroughly familiar paid with the savings realized as a result of the IRR. with their responsibilities under the ADA. More information For-profit mortgagors requesting an IRR may not bor can be found at: row funds from the operating or reserve account of the property to pay associated fees. For IRR-only transac www.ADA.gov tions, a modification to the Security Instrument is not nec essary in instances when this document does not refer ence the interest rate (e.g., the 2011 and 2014 versions), Low-Income Housing Demand unless there is a state-specific addendum that includes the interest rate, as in Illinois. In the U.S., in 2012 there were only 3.3 million rental units affordable This memo, along with a clarifying memo that was pub and available to the 11.5 million lished in April 2015, can be found at: extremely low-income households http://portal.hud.gov/hudportal/HUD?src=/ program_offices/housing/mfh. http://portal.hud.gov/hudportal/documents/huddoc? id=Interest_Rate_Reduction.pdf VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 4

Alzheimer's Disease  Memory loss that disrupts daily life.  Challenges in planning or solving problems. Alzheimer's is a type of  Difficulty completing familiar tasks at home, at work or at dementia that causes leisure. problems with memory,  Confusion with time or place. thinking and behavior.  Trouble understanding visual images and spatial relation Symptoms usually de ships. velop slowly and get  New problems with words in speaking or writing. worse over time, becoming severe enough to inter  Misplacing things and losing the ability to retrace steps. fere with daily tasks, It affects 1 in 9 (11%) of the  Decreased or poor judgment. population and becomes more prevalent as people  Withdrawal from work or social activities. age (<65 years old= 3%, 65-74= 15%, 75-84= 43%  Changes in mood and personality, including apathy and and 85+= 38%). The disease was first identified depression. more than 100 years ago, but 70 years passed be fore it was recognized as the most common cause of The pace at which symptoms advance from mild to moder dementia and a "major killer. ate to severe varies from person to person. As the disease progresses, cognitive and functional abilities decline. Peo Alzheimer's is not a normal part of aging, although the ple need help with basic activities of daily living, such as greatest known risk factor is increasing age, and the bathing, dressing, eating and using the bathroom; lose their majority of people with Alzheimer's are 65 and older. ability to communicate; fail to recognize loved ones; and But Alzheimer's is not just a disease of old age. Up to become bed-bound and reliant on around-the-clock care. 5% of people with the disease have early onset Alzhei When individuals have difficulty moving, they are more vul mer’s (also known as younger-onset), which often ap nerable to infections, including pneumonia (infection of the pears when someone is in their 40s or 50s. Alzhei lungs). Alzheimer's-related pneumonia is often a contrib mer's worsens over time. Alzheimer's is a progres uting factor to the death of people with Alzheimer's disease. sive disease, where dementia symptoms gradually worsen over a number of years. In its early stages, Help and support is available for affected elderly tenants from memory loss is mild, but with late-stage Alzheimer's, the local chapter of Alzheimer in their area. The telephone individuals lose the ability to carry on a conversation number and web site address are as follows: and respond to their environment. Alzheimer's is the sixth leading cause of death in the United States. Helpline telephone number: 800-272-3900 (24/7) Those with Alzheimer's live an average of eight Web address: www.alz.org years after their symptoms become noticeable to oth ers, but survival can range from four to 20 years, de Lithium Smoke Alarms pending on age and other health conditions. Alzhei mer's has no current cure, but treatments for symp A smart decision is to replace 9-volt alkaline battery-powered toms are available and research continues. Although smoke alarms with 10-year sealed battery alarms. These current Alzheimer's treatments cannot stop Alzhei alarms are powered by sealed, long-life lithium batteries for 10 mer's from progressing, they can temporarily slow years (the life of the alarm)- meaning they are always on. the worsening of dementia symptoms and improve While smoke alarms are installed in 96% of US homes, 20% of quality of life for those with Alzheimer's and their those alarms are not functioning, mainly due to dead or miss caregivers. ing batteries. Moreover, two-thirds of residential fire deaths occur in homes without smoke alarms or in homes with non- Today, there is a worldwide effort under way to find functioning smoke alarms (i.e., dead batteries or missing bat better ways to treat the disease, delay its onset, and teries). With a sealed, long-life lithium battery smoke alarm, prevent it from developing. The most common initial residents can enjoy peace of mind knowing that their homes’ symptom is a gradually worsening ability to remember smoke alarms are always on- operating 24 hours per day, sev new information. This memory decline occurs be en days per week for 10 years. That’s a decade of hassle-free cause the first neurons to malfunction and die are protection until they need replacement. usually neurons in brain regions involved in forming new memories. As neurons in other parts of the brain Although lithium battery smoke alarms are more expensive malfunction and die, individuals experience other diffi than 9-volt versions (around $25), they are actually cheaper in culties. The following are common symptoms of Alz the long run because there is no need to buy and replace bat heimer's: teries every six months. Overall, a savings of up to $40 can be realized over the life of the alarm. VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 5 Interior Décor Trend HUD Portfolio Summary Philadelphia. The remaining 1,000 units are to be con- Pineapples, which have been HUD’sstructed national outside insured the city, portfolio primarily has in Montgomery Coun- showing up in American inte anty. unpaid principal balance of $71.07 rior design for years now, are billion, representing 10,748 assets. now one of the hot trends in The mediumtop 23 multifamily rent in the servicers expanded ac Philadelphia area interior décor. countwas $823 for 85% in 2004. of this Rent portfolio. levels are considerably higher in Center City, which features several of the newest lux- The reason for this tropical Itsury non-insured developments. portfolio Center consists City rent of levels averaged fruit being a popular decorat 18,485$818 for assets. studios, $1,310 for 1-BR units, $2,109 for 2-BR ing choice has a lot to do units, and $3,138 for 3- BR units. As new units entered with history and goes back to Locally,the market the atNortheast higher-than Region’s-average insured prices, portfolio during has the an the time of Christopher Co UPBpast year,of $18.3 existing billion, apartments representing responded 2,285 assets. by offering Its non- lumbus. Pineapples originat insuredrental concessions. portfolio consists As a of result, 5,358 effective assets. rents declined ed in South America, but once they were “discovered” by between 1- 2% in both the city and the PA suburbs, Christopher Columbus in 1493, the fruit made its way to when comparing March 2005 with the previous year. Europe and became an instant hit. By the 17th century, Equal Access to HUD-Assisted Programs this sweet fruit made its way to America- and design en Senior Citizen Wins Contest thusiasts are grateful that it did. What started out as a HUD has published Notice H delicious piece of fruit eventually became a stylish symbol 2015-01,Congratulations on February to Marianne 6, 2015, Prins - one of four first for hospitality in people’s homes. Noticeplace winners of Program (65+ Eligibility age category) for in HUD’s National HUDNeighborhood Assisted and Networks Insured Essay Hous Contest. Ms. Prins is a In early America, colonists had to import pineapples from ingresident Programs at Parsippany for All People- Troy Re Hills NJ39H085092, and a the Caribbean and this made the fruit a rare commodity. gardlessparticipant of inSexual the Brookside Orientation, Computer Learning Neigh- Those who were lucky- or wealthy enough- to get a pine Genderborhood Identity Networks or Marital Center. status apple would show it off and use it to adorn their dining as Required by HUD’s Equal Access Rule.” table. Since this fruit was so hard to come by, people who Ms. Prins' essay, “How Has My Neighborhood Networks were visiting saw a pineapple centerpiece as a compli TheCenter purpose Help Enrichof the Notice My Life” is isto postedincrease on the the awareness Neighbor- of ment and a welcoming gesture. The popular fruit then programhood Networks participants website and at: stakeholders www.hud.gov/offices/hsg/ of the require became more than just a tasty treat. It became a sign of mentsmfh/nnw/essaycontest.cfm. of the HUD Equal Access Rule for actual or per neighborliness and was used to show friendliness toward ceived discrimination based on sexual orientation, gender guests. identityThe following or marital is a status. brief excerpt from her essay: “My life certainly has become more enriched through this pro- It didn’t take long before pineapples moved from the din Thegram...as notice a can senior be read citizen, in its I am entirety aware at: that it is important ing table and started showing up in interior design. People to keep our minds active...I am certainly grateful, in eve- would welcome guests into their home with pineapples http://portal.hud.gov/hudportal/documents/huddoc?id=15ry way, that I am in an age in which I can be part of this featured in light fixtures, doors, shutters, bedposts and 01hsgn.pdfwonderful and exciting computer age.” even wallpaper. RentsAlso recognized on the Rise in the 65+ category are is Florence Similarly, you can add a little pizzazz to sample apart Finkel of B’nai B’rith Apts., Allentown, NJ who finished in ments through the use of pineapple accessories for Rentersthird place, in the and U.S. Madeline paid about Frazier $441 of the Mahlon M. Lew- shelves or as table centerpieces. This decor idea is es billionis NNC, in Philadelphia,rent in 2014, compared PA who was awarded an honora- pecially great for the summer. Be creative. Vacant withble mention. an estimated $420 billion in apartments will rent much quicker if the sample is dis 2013. played in an attractive manner. Closings Also, the number of rental house Be a Reporter holdsInitial androse Final77,231 Closings in 2014, occurred while the on the following pro- averagejects during monthly September cost of 2005:renting Would you like to see your project rose nationally by $26 to almost $900 per month. The spotlighted in a future newsletter? largest cumulative rent paid out was in the New York/ Send a tenant interest story or a best Northern NJ area at $50 billion. practice (in Word format) to: (Source: MultiHousing Pro, March/April 2015) [email protected] VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 6 Board games also provide health benefits through an of U. S. Housing & Market Conditions Philadelphia.ten overlooked The side remaining effect of 1,000many games, units are laughing. to be con - structedLaughing outside has been the shown city, primarily to increase in Montgomery endorphins, Coun which- HUD’S U. S. Housing and Market ty.are chemicals that create a feeling of happiness. This re Conditions reports for the 4th Quar lease of endorphins help muscles to relax and blood to ter 2014 are available at: Thecirculate, medium which rent in in turn the can expanded lower blood Philadelphia pressure. area High wasblood $823 pressure in 2004. is associated Rent levels with are greater considerably risk of higherartery http://www.huduser.org/portal/ indamage, Center City,heart whichdisease features and stroke. several of the newest lux- ushmc/home.html ury developments. Center City rent levels averaged $818Along for with studios, reducing $1,310 blood for pressure, 1-BR units, board $2,109 games for 2may-BR units,also boost and $3,138 the immune for 3- BRsystem. units. Research As new unitshas shown entered that thenegativity market and at higher stress-than can -reduceaverage ability prices, to duringfight disease. the PHFA Housing Services Conference pastPositive year, feelings, existing like apartments the laughter responded and enjoyment by offering that of rentalten comes concessions. with board As games, a result, counteracts effective rents these declined effects by betweenreleasing 1 neuropeptides- 2% in both the that city fight and stress the PA and suburbs, boost the Registration is NOW OPEN whenimmune comparing system. March 2005 with the previous year. for PHFA’s 2015 Housing Services conference, June SeniorMany board Citizen games Wins require Contest the use of fine motor skills to 10-12, in Pittsburgh. PA. pick up or move pieces, actions that take both coordina Congratulationstion and dexterity. to Regular Marianne practice Prins- oneand ofactivity four first improve This year’s conference in placethese winnersbasic skills, (65+ which age category) is important in HUD’s for children, National people cludes more than 38 Neighborhoodwith mental or Networksphysical disabilities, Essay Contest. the elderly Ms. Prins and those is a breakout sessions, three residentrecovering at Parsippanyfrom accidents.- Troy Board Hills NJ39H085092, games make a andhelpful a plenary sessions and a variety of networking events. HUD participantaddition to inoccupational the Brookside therapy Computer treatments, Learning as Neighwell as- Service Coordinators continuing education credits can be borhoodwork well Networks in areas Center.like special needs classrooms to help earned by attending the conference. improve muscle and nerve function over time. Ms. Prins' essay, “How Has My Neighborhood Networks The conference brochure and registration information can CenterThere are Help also Enrich quite My a few Life” board is posted games on that the Neighborseniors will- be found at: www.phfa.org/hsc. hoodenjoy. Networks Here are websitea few: Mahjong,at: www.hud.gov/offices/hsg/ What's That Saying?, mfh/nnw/essaycontest.cfm.Reminiscing, Senior Moments, Scrabble, Cranium, Rook, Please contact [email protected] with any ques Big Boogle, Chronology, Carcassone, Rack-O, Cheeky tions. TheMonkey, following Keltis, is aWinner’s brief excerpt Circle, from Ticket-to-Ride, her essay: “MyCan’t life certainlyStop, Coloretto, has become Rummikub, more enriched Qwirkle, throughSkip-Bo, this Take pro it- Easy and Bunco Party. Health Benefits of Board Games gram...as a senior citizen, I am aware that it is important to keep our minds active...I am certainly grateful, in eve- Playing board games provide much ryCard way, games that I always am in an seem age to in whichbe a hit I canwith beseniors. part of The this more than entertainment and social wonderfulfollowing games and exciting are fairly computer easy to age.” play, yet they still offer ization. They can actually have a enough of a challenge to keep them interesting: Pinochle, beneficial impact on the quality of AlsoCanasta, recognized Euchre, in Rummy, the 65+ Phase category 10, are Cribbage, is Florence Back life of elderly tenants. It is an excel Finkelgammon, of B’nai Haggis, B’rith and Apts., Five Allentown, Crowns. NJ who finished in lent way for helping the elderly to third place, and Madeline Frazier of the Mahlon M. Lew- think logically, improve their visual isIf NNC,you have Philadelphia, elderly tenants, PA who consider was awarded establishing an honora game-- perception and improve their health. bleplaying mention. activities at your project.

One of the primary benefits of playing board games is ClosingsUpdated ASHRAE Standards reducing the risk of cognitive decline, such as that associ ated with dementia and Alzheimer's. Board games help InitialThe ASHRAE/ANSI/IES and Final Closings Standard occurred on100 the have following been revised pro- the brain retain and build cognitive associations well into jectsfor 2015. during The September revised standard 2005: uses performance metrics old age. The hippocampus and prefrontal cortex especial and provides comprehensive and detailed descriptions of ly benefit from playing board games. These areas of the the processes and procedures for the retrofit of existing brain are responsible for complex thought and memory residential and commercial buildings in order to achieve formation, and their decline is one of the first stages of greater measured energy efficiency. dementia and Alzheimer's. While those who are elderly show the most benefit from activities like board games, For more information, see: never forget that (like any healthful activity) the earlier you www.ashrae.org/news/2015/ashrae-ies-publish-updated start, the greater the benefits received. standard-on-energy-efficiency-in-existing-buildings VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 7 takes root. “Around the Hubs” Philadelphia. The remaining 1,000 units are to be con- structedThe plan outside is expected the city, to create primarily an inexplosion Montgomery of housing Coun - Brownsfield Grants ty.demand when the elevated viaduct that curves through the neighborhood is converted. Hopefully, the end result The EPA has selected 20 communities in 16 states to Thewill be medium similar rent to what in the happened expanded on Philadelphia Manhattan’s area far west receive Brownfields Area-Wide Planning (AWP) grants to was“High $823 Line” in side, 2004. where Rent former levels arebleak considerably streets now higher boast catalyze the reuse of brownfield sites and strengthen local inbars, Center boutiques, City, which art galleries, features warehouse several of the loft newest conversions, lux- economies. As part of the Partnership for Sustainable uryhotels, developments. high rises and Center green City open rent space levels areas. averaged Communities, these grants help communities redevelop $818 for studios, $1,310 for 1-BR units, $2,109 for 2-BR these sites through a community-wide approach to revital units,If the andRail $3,138Park continues for 3- BR full units. steam As ahead, new units increased entered ization. In the northeast, the following 8 entities received thehousing market demand at higher for- thanhigh-density-average buildings prices, during will be the creat $200,000 grants: PA- Temple University (Philadelphia, pasted. Lastyear, year, existing the apartmentsGoldtex Apartments responded opened. by offering It will be PA); NJ– City of Camden Redevelopment Agency; WV- rentalsoon be concessions. joined by Mural As a Lofts, result, a effective56-unit converted rents declined City of Huntington, WV; NY– South Bronx Overall Eco betweenschool. 1- 2% in both the city and the PA suburbs, nomic Development Corp. and City of Rochester; MA– when comparing March 2005 with the previous year. City of New Bedford and City of Lawrence; and ME– Revised Management Fee Ranges Greater Portland Council of Governments. Senior Citizen Wins Contest The management fee ranges for eastern PA and DE have Top 25 Energy Star Cities Congratulationsbeen adjusted, effective to Marianne March Prins 1, -2015, one ofbased four firston the CPI placeannual winners changes (65+ published age category) for the in2012-2014 HUD’s National calendar Five cities in the northeast made the EPA’s 7th annual Neighborhoodyears. Networks Essay Contest. Ms. Prins is a list of the top 25 U.S. metropolitan areas with the most resident at Parsippany- Troy Hills NJ39H085092, and a Energy Star-certified buildings in 2014. The list shows participantThe lower fee in the yield Brookside is $43.00 Computer per unit/per Learning month, Neigh and -the how cities across America are embracing energy efficien borhoodupper fee Networks yield is $49,00 Center. per unit/per month. Contact your cy as a way to save money and reduce greenhouse gas Project Manager for the allowable add-on fees. emissions. The cities cited are: Washington, DC– 480 Ms. Prins' essay, “How Has My Neighborhood Networks buildings (#1); New York– 299 buildings (#4); Boston176 CenterHomeless Help Initiative Enrich My Life” is posted on the Neighbor- buildings (#10); Philadelphia– 158 buildings (#12); and hood Networks website at: www.hud.gov/offices/hsg/ Virginia Beach– 81 buildings (#20). mfh/nnw/essaycontest.cfm.Philadelphia, one of 10 pilot cities, has made outstanding progress in its initiative to house the homeless, as evi Thedence following by the following is a brief excerptstatistics: from her essay: “My life certainly has become more enriched through this pro- PHILADELPHIA gram...as 8 leases a senior executed citizen, with I amfamily aware preferences. that it is important to keep16 leases our minds executed active...I for amvets certainly with VASH grateful, (Veterans in eve ry way,Affairs that Supportive I am in an ageHousing) in which vouchers. I can be part of this wonderful 8 leases and executed exciting computerfor vets with age.” non-VASH vouchers.  28 leases executed in IRM projects. Also 23 recognized projects with in the preferences. 65+ category are is Florence Finkel 7 management of B’nai B’rith agents Apts., Allentown,adopted preferences. NJ who finished in third 6 place, management and Madeline agents Frazier developing of the preferences. Mahlon M. Lew - is NNC, Philadelphia, PA who was awarded an honora- Leadership Changes ble mention. Promise Zone Due to the retirement of Teresa Bainton, Thomas Lang Closings ston will serve as the Acting Director Philadelphia Hub for The City of Camden, NJ was named as one of 8 new 120 days. Randall Scheetz, Supervisory Project Manag InitialPromise and Zones. Final Closings The program, occurred launched on the followinglast year by pro - er, will serve as the Operations Officer during this period. jectsPresident during Obama, September helps 2005: selected high-poverty areas to compete for federal aid. It is intended to boost economic activity, reduce violent crime and upgrade standards of Philadelphia’s Next Hot Area living. In addition, the city will receive additional points The “Loft District,” aka Callowhill, may become the next when being scored for competitive grants. Five commu hot area of Philadelphia, where industrial skeletons are nities already in the program, including Philadelphia, have living second lives as airy condominiums. The reinven received more than $100 million in federal aid. tion of this area, north of the Chinatown section of center city, will reach a new level if the long-discussed Rail Park VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 8 make such a matching system work. Services are deliv Philadelphia.ered by the shelter The remaining providers. 1,000 The providers units are conduct to be con initial- structedeligibility outside screening, the city,refer primarily households in Montgomery to New Lease Coun and- ty.assist them in completing applications and assembling NEW YORK supporting documents. New Lease manages a referral list Theof families medium for rent each in participating the expanded development Philadelphia and area checks wasapplications $823 in 2004.for completeness, Rent levels arethus considerably ensuring a quick higher re insponse Center when City, a which vacant features unit becomes several available. of the newest New lux- uryLease developments. facilitates face-to-face Center City meetings rent levels between averaged property $818managers for studios, and families $1,310 if forit appears 1-BR units, that $2,109a New Lease for 2-BR Leadership Changes units,household and $3,138 is going for to 3 be- BR denied units. through As new the units tenant entered selec thetion market process. at higher-than-average prices, during the Due to the retirements of Teresa Bainton and Yvette Lu past year, existing apartments responded by offering go, Rick Dougherty, the Director of the Hartford Program rentalAs of the concessions. beginning of As March, a result, New effective Lease rentsfor the declined Home Center, will serve as the Acting Director New York Hub for betweenless has 1made- 2% inreferrals both the resulting city and in the more PA than suburbs, 100 move 120 days. Bob Boden, Supervisory Project Manager San whenins of comparingformerly homeless March 2005 families with into the privately-owned previous year. Francisco Hub), will serve as the Operations Officer dur housing with project based rental assistance contracts ing this period. Seniorwith HUD. Citizen New WinsLease Contest staff estimate that one-third of these families would have been rejected were it not for the Congratulationsunique mediation to services Marianne offered Prins- by one the of program. four first place winners (65+ age category) in HUD’s National NeighborhoodAnnual NEAHMA Networks Networking Essay Contest.Meeting Ms. Prins is a BOSTON resident at Parsippany- Troy Hills NJ39H085092, and a participantThe New England in the Brookside Affordable Computer Housing LearningManagement Neigh Asso- borhoodciation (NEAHMA) Networks Center.held its annual Rhode Island Agency Networking Meeting on March 18, 2015 at Twelve Acres Ms.in Smithfield, Prins' essay, RI. “How Agency Has presentations My Neighborhood were given Networks by CenterHUD and Help Rhode Enrich Island My Life” Housing is posted staff. on Some the Neighbor of the topics- covered by HUD included: Multifamily Housing Transfor New Lease for Homeless Families hood Networks website at: www.hud.gov/offices/hsg/ mfh/nnw/essaycontest.cfm.mation (MFT,) the HUD/USDA Summer Food Service Pro gram, Performance-Based Contract Administration In Massachusetts a public/private partnership know as (PBCA) update, Rental Assistance Demonstration Pro New Lease For Homeless Families became the first or The following is a brief excerpt from her essay: “My life certainlygram (RAD), has becomeEPA’s Portfolio more enriched Manager, through Section this 8(b)(b); pro- ganization in the nation to establish a homeless family the Proposed Rule and Notice on Management and Occu preference in HUD multifamily housing. Ben Metcalf, Dep gram...as a senior citizen, I am aware that it is important topancy keep Reviews our minds (MORs); active...I Vacancy am certainly Payments grateful, and inthe eve Use- uty Assistant Secretary of Multifamily Housing, Mara of Marijuana in Multifamily Assisted Properties. Blitzer, Senior Policy Advisor in the Program Administra ry way, that I am in an age in which I can be part of this wonderful and exciting computer age.” tion Office and Joe Crisafulli, Boston Hub Director met Over 100 owners and management agents were in attend with New Lease leadership and the state’s leading home ance. lessness practitioners to discuss implementation under Also recognized in the 65+ category are is Florence Housing Notice H 2013-21. The conversation brought to Finkel of B’nai B’rith Apts., Allentown, NJ who finished in thirdPromise place, Zone and Madeline Frazier of the Mahlon M. Lew- light New Lease’s successes, challenges, and growth The City of Hartford, CT was named as one of 8 new strategies as ways are sought to expand owner-adopted is NNC, Philadelphia, PA who was awarded an honora- Promise Zones. admissions preferences in all states. ble mention.

New Lease was started in 2013 by affordable housing Closings development professionals, including Beacon Communi ties, Winn Companies, Schochet Companies, Planning InitialBALTIMORE and Final Closings occurred on the following pro- Office of Urban Affairs, Peabody Properties, The Commu jects during September 2005: nity Builders, Trinity Management and POAH.

The notice allows homeless families in the state support North Street Senior Residences ed shelter system placement into existing permanent af fordable housing units in the Commonwealth’s inventory The North Street Senior Residences officially opened with of affordable housing. New Lease leverages the good will a ribbon-cutting ceremony hosted by Home Partnership, of the owners and managers of affordable housing in the Inc. Elkton Housing Authority and The Community Commonwealth with the expertise of shelter providers to VOL. 14 ISSUE 8 NORTHEAST MULTIFAMILY HOUSING HUB NEW S Page 9 in a full calendar of lessons designed to build understand Builders, Inc. The Residences are the dream of local Philadelphia.ing of the new The business remaining model, 1,000 as well units as are refine to be and con de- stakeholders to retrofit a historic building that served as structedvelop technical, outside theteaching, city, primarily coaching in and Montgomery mentoring Coun skills.- the county jail, into an affordable housing complex for ty.The expectation levels were high since the Southwest Re senior citizens in downtown Elkton. The building has 53 gion’s Leadership training would begin only two weeks apartment units and includes a community room with a Thefollowing medium boot rent camp in the and expanded run for three Philadelphia consecutive area weeks kitchen and fireplace, and a separate activity room with a wasin September, $823 in 2004. followed Rent by levels five weeks are considerably of frontlinehigher training pool table and a computer lab. One of the residents, Mari inin CenterFort Worth City, and which Kansas features City, several from October of the newest to December lux- on Whitaker, spoke eloquently to the partners gathered. ury2015. developments. There was a Centertrue sense City of rent purpose levels averagedand camarade “I’m a new senior, and I appreciate that you put a lot of $818rie among for studios, the navigators $1,310 for as 1they-BR forged units, $2,109 through for new 2-BR terri thought into this center and now we have a decent place units,tory, tackled and $3,138 unique for challenges 3- BR units. and As celebrated new units enteredsuccesses to live. The love of my life got me a penthouse on the third thetogether. market In at the higher process-than they-average became, prices, in a during sense, the a floor,” Ms. Whitaker said as she pointed to her husband. past“family.” year, existing apartments responded by offering Funding included HUD Community Development Block rental concessions. As a result, effective rents declined Grant program funds, Low Income Housing Tax Credits betweenWhile there 1- 2% were in bothchanges the city to the and original the PA team suburbs, over time, (LIHTC) and State Mortgage Revenue Bond proceeds. whenthe same comparing level of March commitment 2005 with and the effort previous continued year. to be With the most ideal location in Cecil County, the Resi demonstrated as new members were added in prepara dences are located on a bus line for easy transportation Seniortion for CitizenWave 2. Wins Donning Contest heavy coats, hats, gloves, boots and the convenience of having a variety of shops and res and all other types of winter gear, 18 navigators set out in taurants within walking distance CongratulationsFebruary 2015 to to brave Marianne the frigid Prins temperatures- one of four firstin Chica placego, Minneapolis winners (65+ and age Detroit. category) The extreme in HUD’s cold National was rivaled Grand Opening– Bon Secours Benet House Neighborhoodonly by the record Networks snow and Essay ice Contest. storms in Ms. the PrinsNortheast is a residentthat caused at Parsippany widespread- Troy flight Hills delays NJ39H085092, and cancellations. and a In On April 23, the Baltimore Field Office Director and Multi participantspite of the in circumstances, the Brookside the Computer navigators Learning were Neighfully en- family Housing Director attended the Grand Reopening of borhoodgaged and Networks focused Center. on delivering quality training to the Bon Secours Benet House. Bon Secours Benet House is leaders and frontline staff in the Midwest Region. As with a 101-unit former Section 202 building, originally renovat Ms.Wave Prins' 1, the essay, feedback “How provided Has My Neighborhoodfrom the participants Networks was ed in 1991 as an adaptive reuse of a former Baltimore Centerthoroughly Help reviewed Enrich My and Life” used is postedas the basis on the for Neighbor continuous- City public school building. The current renovations were hoodimprovement Networks to website the training at: www.hud.gov/offices/hsg/content and delivery methods. accomplished with a FHA Section 223(f) loan, HOME mfh/nnw/essaycontest.cfm. funds from Baltimore City, Rental Housing Works and Serving as a navigator is a great commitment given the Energy funds from the State of Maryland and Federal Theextensive following travel is arequired, brief excerpt the time from away her essay:from home “My and life Home Loan Bank funds. Renovations include updated certainlythe level hasof responsibility- become more not enriched to mention through the long this prodays- apartment interiors (kitchens, baths, flooring), improved gram...asand frequent a senior changes. citizen, In Ifact, am awarethe only that thing it is consistent important building performance and enhanced common areas. tohas keep been our change. minds active...I Nevertheless, am certainly there have grateful, been in count eve- Green features include upgrades to the central heating ryless way, lessons that I learned am in an on age flexibility, in which patience I can be and part empathy. of this system, Energy Star appliances and light fixtures, low- wonderfulThe rewards, and however, exciting computer have definitely age.” outweighed the flow plumbing fixtures and low VOC paints. The sponsors challenges. Not only has the experience provided the are Bon Secours Hospital and Enterprise Homes. Enter Alsonavigators recognized with an in opportunity the 65+ category to think are holistically is Florence about prise has a long history both in Baltimore and nationally of Finkelrisk on of both B’nai sides B’rith of Apts.,Multifamily, Allentown, it has NJ also who provided finished a in creation and preservation of affordable housing. Bon thirdrare place,opportunity and Madeline to meet and Frazier build of relationships the Mahlon M.with Lew col- Secours continues to serve Southwest Baltimore commu isleagues NNC, Philadelphia,from different PA areas who of was the awardedcountry. an Much honora hospi- nity through health care and housing services and is lo bletality mention. has been shown to the navigators in each office cated less than a mile away. throughout the duration of their stay. And, while the ac Closingscents and dialects have varied, the personal stories and motivations have had much in common. Fundamentally, Navigating the Waves Initialour fellow and Finalcoworkers Closings have occurred a sincere on desire the following to do their pro -jobs well and help further the mission of the agency, despite In August of 2014, a team of 11 Asset Management and jects during September 2005: professional and personal difficulties resulting from a Production employees, from selected from offices across changing business environment. Collectively, these expe the nation, assembled together in Washington, D.C., as riences have provided inspiration for the navigators as they embarked upon an incredible journey as “navigators” they prepare to fly south for the summer, to the Southwest for Wave 1, the initial Wave, of the “Multifamily for Tomor Region, to continue navigating the Waves. row Transformation.” The journey began with two inten sive weeks of training appropriately called “navigator boot camp.” The team members were eager but uncertain of the full task at hand as they were submerged