New HUD Restrictions Limit Condo Construction
HUD has established new rules limiting the percentage of units in a building that can get FHA loans. Developers cry foul, calling it a bias against affordable housing and density.
"[Developer] Diana Chevalier, owner of Project Approval Services, said she was so upset when she learned of HUD's new restrictions that she hopped the first plane to Washington, D.C."
"'I took a $1,000 flight, and I met with Margaret Burns,' Chevalier said of the director of HUD's Office of Single Family Program Development. 'What the FHA is doing is trying to limit their exposure in existing condos and new condos and this is their way of monitoring their exposure.'"
Full Story:
Published on Monday, August 24, 2009 in
- Infographic: Space Allocation by Population in 15 U.S. Cities
- A Tipping Point in the Geography of the Creative Class?
- Denver Freeway Expansion Makes a Bad Situation Worse
- What Made It Possible for Oregon to End Single-Family Zoning?
- Master-Planned Cities in the Spotlight
- Op-Ed: Lakewood's Growth Cap Is 'Climate Arson'
- SUVs Kill Pedestrians—and They Have for a Long Time
- Study: Not All Gentrification Effects Are Equal
- Research: Transit Times Determine Social Networks
- No Quick Fixes for L.A.’s Transit Ridership Woes
- A Climate Change Preview Underway in Michigan
- The Great O'Hare Race (And its Discontents)
- Gentrification Enters Preservation Debate Surrounding NYC's Strand Bookstore
- Connect Transit in Bloomington-Normal, Illinois is Growing Ridership
- Toronto Could Give Buses and Streetcars Priority
- More EV Charging Coming to San Francisco Private and Public Parking Facilities
- Anti-Displacement Efforts and Green Infrastructure Signal Hope in Portland
- Report Makes Business Case for Vancouver-to-Portland High Speed Rail
- Bus System Redesign Boosts Ridership in Austin
- A 20-Year To-Do List for Cities
