In the current economic situation, condo developers are finding it increasingly difficult to secure financing.
"[T]ighter liquidity means financing is getting pricier and harder to come by for many [condo developers], at the same time the housing market is cooling.
Lenders now want to see 70 per cent of condo units presold before providing funding, for example, up from about 60 per cent when the credit markets were looser. The amount banks are willing to lend compared with a property's value has also dropped after the collapse of the market for commercial mortgage-backed securities, which was once a major source of funding.
Experienced developers who have strong relationships with their lenders can still get project financing [while] others may be forced to seek out new funding sources, scale back their projects or put them on hold."
FULL STORY: Developers struggle to secure financing
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
In Urban Planning, AI Prompting Could be the New Design Thinking
Creativity has long been key to great urban design. What if we see AI as our new creative partner?
King County Supportive Housing Program Offers Hope for Unhoused Residents
The county is taking a ‘Housing First’ approach that prioritizes getting people into housing, then offering wraparound supportive services.
Researchers Use AI to Get Clearer Picture of US Housing
Analysts are using artificial intelligence to supercharge their research by allowing them to comb through data faster. Though these AI tools can be error prone, they save time and housing researchers are optimistic about the future.
Making Shared Micromobility More Inclusive
Cities and shared mobility system operators can do more to include people with disabilities in planning and operations, per a new report.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
planning NEXT
Appalachian Highlands Housing Partners
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie