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Starwood snaps up Florida affordable housing portfolio
by TRD Staff on September 25, 2022 at 7:00 pm
Barry Sternlicht’s latest affordable housing play in Florida stretches beyond Lake Worth. Starwood Capital Group spent $91.8 million for a 669-unit affordable housing portfolio in the state, Multi-Housing News reported. Comprising four different communities, the transaction breaks down to roughly $137,000 per unit. All four assets were completed between 1994 and 2007, developed under the Low Income Housing Tax Credit program. All four will remain affordable under Starwood. The 94-unit Villas at the Cove Crossing The post Starwood snaps up Florida affordable housing portfolio appeared first on The Real Deal New York.
On Martha’s Vineyard, even doctors priced out of homes
by TRD Staff on September 25, 2022 at 4:00 pm
More than 150,000 people visit Martha’s Vineyard every year — some courtesy of Florida taxpayers — but very few can afford to stay. Shortages of service workers are nothing new to resort areas where housing costs have spiraled upwards, Martha’s Vineyard Hospital is even having trouble recruiting doctors and nurses, and has been working at three-quarters for months, according to the Wall Street Journal. “How do you recruit when rents are doubling from $3,000 a The post On Martha’s Vineyard, even doctors priced out of homes appeared first on The Real Deal New York.
Controversial transfer tax bill advances in Boston
by TRD Staff on September 25, 2022 at 1:00 pm
Boston may soon be raising taxes on property sales. The city council this week advanced a bill that would impose a transfer charge of up to 2 percent on real estate sales over $2 million, and funnel the money to affordable housing programs, WBUR reported. The bill has garnered opposition from lawmakers who say that now is not the time to add taxes, and that the charge would be passed on to tenants. Boston mayor The post Controversial transfer tax bill advances in Boston appeared first on The Real Deal New York.
Unique Frank Lloyd Wright home available … for now
by TRD Staff on September 24, 2022 at 7:00 pm
If you’re reading this, you may already be behind the eight-ball when it comes to buying a rare Frank Lloyd Wright-designed home. The Mount Pleasant, Wisconsin house at 1425 Valley View Drive was listed for $725,000, Crain’s reported. It was the first time the home was put on the market since it was built in 1954. The house belongs to a trust in the name of Karen Johnson Boyd, great-granddaughter of Samuel Curtis Johnson, who The post Unique Frank Lloyd Wright home available … for now appeared first on The Real Deal New York.

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