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LDS Offers Market Updates
Greetings!
LDS Consulting Group, LLC is excited to offer quarterly market updates for multifamily projects. This service will complement the market research, planning and housing work LDS has been providing its clients over the last decade. Read more about this service below!
LDS continues to help clients both understand the changing market and pursue funding for projects of all sizes. The Newton-based firm, for example, has recently provided market research for everything from a 6-unit project in Ayer to a 300-unit development in Bridgewater. This ability to tailor services to meet clients' needs continues to be a point of pride for LDS.
In addition, as clients begin to rethink their projects in this economy, LDS is providing in-depth research and analysis to help them make informed decisions. The goal is to help clients, new and old, create viable developments across Massachusetts.
LDS would also like to welcome three new clients:
- Bonnet Realty LLC
- CSI Support and Development
- Claremont Companies
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Multifamily Market Updates Offered
With the market for market-rate, multifamily housing development picking up again, LDS would like to remind clients that it offers quarterly competitive market updates for multifamily projects. Four times a year, clients will receive updates on rents, occupancies and absorption rates for competitive developments identified in LDS's full market studies. This information will help clients ensure that their projects remain competitive as they progress through permitting and financing. |
LDS Completes Market Studies for HUD's 202 Funding Round
In response to the 2011 Notice of Available Funding for HUD's 202 program, LDS prepared three market studies for subsidized senior rental projects in Massachusetts. One of the studies was for a new client, CSI Support and Development, who is looking to develop 40 subsidized senior rental units in Brockton. The other two market studies completed by LDS were updates. One was for a 40-unit subsidized project in Mission Hill proposed by Mission Hill Neighborhood Housing Services, and the other was for the expansion of Plantation Apartments in Stow by the Stow Community Housing Corporation.
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Rental Market Examined for 300-unit Project in Bridgewater
LDS analyzed market-rate rental housing in the Bridgewater area to help new client Claremont Companies make decisions about its proposed 300-unit, mixed-income development. Specifically, LDS examined 11 market-rate apartment complexes in Bridgewater and seven neighboring communities. Everything from the complexes' rents to occupancies were studied as part of the work. Ultimately, LDS offered recommendations on several issues, including proposed rents, target customers and amenities. |
Market Research Provided for Six-Unit Project in Ayer
In May, LDS provided market research to new client Bonnet Realty, LLC, who is proposing to create six affordable one-bedroom units in Ayer. LDS examined rents at a wide range of properties, including mixed-income rental projects, affordable rental developments and one-bedroom rentals listed on the Multiple Listings Service. Demographics and housing demand were also studied to help Bonnet Realty in its planning efforts. The client's project is expected to include commercial space on the ground floor, with the residential units on the second floor. |
Update on 40B Sunderland Case
Superior Court Upholds HAC Decision in Developer's Favor in Sunderland
Massachusetts Superior Court has upheld a Housing Appeals Committee's (HAC) decision in favor of Sugarbush Meadow, LLC, developer of a Chapter 40B project in Sunderland, Massachusetts. Read the full decision here. LDS principal Lynne Sweet served as an expert witness on behalf of the developer when the case was heard before the HAC last year. Lynne spoke to the regional need for affordable housing and discussed other zoning matters.
The Superior Court's recent decision comes after years of meetings and litigation. The developer first applied for a comprehensive permit from the Sunderland Zoning Board of Appeals (ZBA) in 2006, seeking to build an 150-unit rental project. The ZBA denied the application in 2008, citing traffic, wetlands and other concerns. In its decision, the ZBA also said the Town of Sunderland does not need additional rental units. Sugarbush Meadow appealed the decision to the HAC, which ruled in its favor last year. The ZBA then appealed HAC's decision to Superior Court. |
LDS would like to remind everyone that the 2011 Funding Round for the Federal Home Loan Bank of Boston's Affordable Housing Program opens on August 15. Applications are due September 30. For more information, visit FHLBB's website here and contact LDS for application asssistance.
As always, LDS is looking to partner with clients and consultants on new projects. Please feel free to contact us at info@ldsconsultinggroup.com or 617-454-1144.
Enjoy summer in New England!
Sincerely,
Lynne D. Sweet
Managing Member
LDS Consulting Group, LLC
233 Needham Street, Newton, MA 02464 |
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