How municipalities are dealing with the affordable housing crisis varies from working aggressively to keep and attract residents to trying to get rid of what they see as problems. As of now, the situation rests at the city or county level rather than state or federal. Some developers, investors, and brokers look down on dealing with affordable housing, which is their right to do. Others see opportunities. Those range from tax incentives and advantages to having reasonable assurances of full occupancy to having civic endorsements enhance their reputation for future expansion.
Making these projects happen is not always easy. One example is the below linked assessment from Frederick County MD. It is current, and takes more than 200 pages to provide all of the information. It’s easy to think that there is no need to take the time to read that many pages when you are not involved in any way with anything in Frederick County.
I see it differently. From the assessments I have seen from around the country, this one for Frederick County is among the most comprehensive. Having this information can be very helpful. How?
Many cities have not yet dealt with specific policies for affordable housing requirements. If you, whether as a real estate professional, developer, or investor, have the opportunity for input at meetings which help to determine upcoming policy, you would have a major advantage. For example, if you are able to attend an official meeting and show “evidence on Page 173 of the Frederick County MD implementation that…..”, and no one else has information to dispute you, you could be pushing through something which gives your team a big advantage. Especially when no one in the meeting has information on hand to dispute your findings.
This is one of many examples of why having a research person or team working for you (while you are working on your current projects) can result in significant business gains. Let my team and me make you “first in” on significant opportunities!
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