Multi-Housing News - April 2009 - (Page 4)

Try…Then Try Again Combine persistence with creativity and you have reason for optimism When will we come out of the recession—and how do we fix our ailing economy in a sustainable way instead of repeating the same mistakes that led to the bubble? There are no easy answers or quick fixes, President Barack Obama reminded the nation in his recent prime time press conference. The President urged Americans to adopt a patient attitude as solutions are sought and implemented—and he noted that persistence has a way of paying off. The multifamily sector has its share of challenges, but leaders like Susan Ansel, COO of Gables Residential, are hardwired to seek success despite adversity. “It is leadership’s responsibility to look for new opportunities,” says Ansel. “During tumultuous times, opportunities are created. Companies that spot those situations earliest are those that not only survive, but create new success for the future.” In this month’s Executive Insight (page 6), Ansel shares her views with MHN Contributing Editor Jeffrey Steele about resident retention, the apartment consumer’s appetite for green living, NOI and more. At press time, the Treasury Secretary, Timothy F. Geithner, had just unveiled the programs that will help buy up to $2 trillion in toxic real estate assets. Apparently this was what Wall Street needed to hear. The major stock indexes soared as soon as the markets opened—and the Dow Jones industrial average ended the day up nearly 500 points. Let’s hope that the credit starts to flow again. Still, the realities of the recession can’t be denied. In New York City, an embattled Metropolitan Transportation Authority is adding insult to injury by implementing service cuts in addition to fare hikes. Elsewhere in the country, foreclosed Americans are moving to RV parks while other newly homeless head for tent cities because their local shelters are operating at full capacity. Looking beyond keeping “heads on beds,” the multifamily industry is devising new strategies to assist unemployed renters (and now condo owners as well) meet monthly rent obligations during the downturn so they can hold onto their homes. But even for working Americans, a host of trends such as urbanization, income disparity, and off-shoring of minimum- and lower-wage jobs are driving the need for affordable housing. “Facing the Affordable Housing Challenge” (page 16) features insights from executives at BRIDGE Housing Corp., Carlisle Development Group, Enterprise Homes, and MacFarlane Costa Housing Partners. Enterprise Homes’ Chickie Grayson suggests accessing financing as much as possible through the American Recovery and Reinvestment Act. “Land is very reasonable right now. I’m actually very optimistic. I think pricing is coming down and opportunities are much more available to us than they were three years ago,” she says. Matt Greer at Carlisle Development Group thinks many communities are missing out by not funding affordable housing now, at a time of low construction and land costs. “They could put some of their unemployed workforce back to work and fund affordable housing at a more attractive price than they could earlier,” notes Greer. “They would see that housing pay dividends for years to come.” Sounds like a reason for optimism. MULTI-HOUSING NEWS MHN GROUP PUBLISHER & SHOW DIRECTOR Daniel J. Corcoran daniel.corcoran@nielsen.com ASSOCIATE PUBLISHER Natasha Selhi natasha.selhi@nielsen.com ADVERTISING REPRESENTATIVES Associate Publisher: West, Mountain and Southern States Natasha Selhi natasha.selhi@nielsen.com Account Executive: Northeast and Midwest States Douglas Runner douglas.runner@nielsen.com 856-415-0301/fax: 856-415-0302 Director of Digital & Live Events: Jason J. Wafalosky Multi-Housing World/Multi-Housing News jason.wafalosky@nielsen.com 484-228-8481 CLASSIFIED & GALLERY ADS Account Executive: Fatima Ruiz fatima.ruiz@nielsen.com 646-654-5763/fax: 646-792-7108 MARKETING DIRECTOR Kevin Marty kevin.marty@nielsen.com 516-682-6149/fax: 516-682-6166 ONLINE PUBLICATIONS www.multi-housingnews.com MHN Daily Newsletter MHN Property Management MHN Green Building & Design MHN Finance & Investment EXHIBIT BOOTH SALES & SPONSORSHIPS Jason J. Wafalosky jason.wafalosky@nielsen.com 484-228-8481 Multi-Housing World Expo & Conference REPRINTS The YGS Group Angie VanGorder 717-399-1900 ext. 176 MHN@theYGSgroup.com EXECUTIVE EDITOR Keat Foong keat.foong@nielsen.com EDITOR-IN-CHIEF Diana Mosher diana.mosher@nielsen.com CREATIVE DIRECTOR Jonathan Marsland jonathan.marsland@nielsen.com ART DIRECTOR Michelle Matteson michelle.matteson@nielsen.com ASSOCIATE EDITOR Erika Schnitzer erika.schnitzer@nielsen.com CONTRIBUTING EDITORS Christopher Hosford Jeffrey Steele ONLINE NEWS EDITOR Anuradha Kher anuradha.kher@nielsen.com MHN BLOG Jack Kern Daniel Gehman PRODUCTION MANAGER Jean Loesch jean.loesch@nielsen.com CIRCULATION Omeda nmhn@omeda.com 800-697-8859/fax: 847-291-4816 LIST RENTALS Nikki Miller 646-654-7261 nikki.miller@nielsen.com Diana Mosher Editor-in-Chief MHN ONLINE View Letters to the Editor (“Need a $750 Loan? Don’t Panic”) and a list of mortgage bankers authorized by Fannie Mae at www.multi-housingnews.com/letters. To share your comments with our readers, email diana.mosher@nielsen.com President: Greg Farrar • Senior VP, Human Resources: Michael Alicea • Senior VP, Finance: Sloane Googin • Senior VP, Marketing: Mark Hosbein • Senior VP, Media & Entertainment: Gerry Byrne • Senior VP, Brand Media and Corporate Development: Sabrina Crow • Senior VP, Retail: David Loechner • Senior VP, Building & Design: Joe Randall • Senior VP, Central Services: Mary Kay Sustek • VP, Licensing: Howard Appelbaum • VP, Manufacturing & Distribution: Jennifer Grego • VP, Audience Marketing: Joanne Wheatley 4 April 2009 | Multi-Housing News | Official Publication of Multi-Housing World http://www.multi-housingnews.com http://www.multi-housingnews.com/letters

Table of Contents for the Digital Edition of Multi-Housing News - April 2009

Multi-Housing News - April 2009
Contents
From the Editor
Executive Insight: Sue Ansel
Finance: Fannie Mae & Freddie Mac
Quote of the Month
Market Forecast: Texas
Profile: Affordable Developers
Operations: Green Laundry Rooms
Technology: BIM
Kitchen & Bath: Tile Installation
Perspective: Doug Bibby, NMHC

Multi-Housing News - April 2009