Arizona’s multifamily industry has been one of the most robust the past few years, even during the pandemic. While there is still plenty of runway as 2023 nears, there are some headwinds that could slow down the momentum. They include a lack of housing supply and a lack of affordable housing. “You can’t go a day without hearing about the housing supply and the lack of … [More]
Homebuyers’ Down Payments Doubled during the Pandemic, Says Report
The typical U.S. homebuyer who took out a mortgage in July made a $62,500 down payment, up 13.6% from a year earlier and almost twice the median $32,917 down payment in July 2019, before the pandemic. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The combination of increased down payments and monthly mortgage payments near all-time … [More]
Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone
EJF Capital LLC and Toll Brothers Inc., through its Toll Brothers Apartment Living division, announced the formation of a joint venture to develop Henri, a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a “Qualified Opportunity Zone” under the Tax Cuts and Jobs Act of 2017 (“TCJA”), which offers investors potential tax benefits to invest into … [More]
