RT Bloomberg Live (@BloombergLive)ICYMI: Should people pay more rent for ‘greener’ housing? 👀Capital Land's Paul Tham on receiving pushback from people who refuse to pay a bit more rent for greener housing. #SustainableBizSummit⏯️ https://t.co/pybnzsnKOu https://t.co/9nCkAFMgER ...

Market Overview & Challenges - The affordable housing crisis is worsening in both for-sale and rental markets [1] - Real estate faces challenges from higher interest rates, construction costs, and building department requirements [2] - There's a shortage of approximately 10 million units of affordable housing in the United States [4] Low Income Housing Tax Credit (LIHTC) - The Low Income Housing Tax Credit (LIHTC) has been dramatically expanded, serving as a primary tool for building and renovating affordable housing [3] - The expansion of LIHTC has received bipartisan support for about a decade [3] Development & Investment Strategies - Developers are committed to building well-designed, green buildings to overcome community opposition to affordable housing [7] - Green building initiatives aim for a five-year payback or better, equating to a 20% return on investment [14][15] - Existing affordable housing investment funds offer a way for investors to participate, though the market is complex and highly regulated [17][18] Rental Market Dynamics - Rent affordability is defined as costing no more than 30% of someone's income for those earning less than 60% (or sometimes 80%) of an area median income [9] - Affordable rents can range from $800-$1200 per month for a studio, $1500-$1800 for a one-bedroom, and around $2200 for a two-bedroom, varying by location [10] - There's a growing interest in renting due to the difficulty of homeownership and the recognition that renting can be more cost-effective [25][26] New York City Market - New York City has a pipeline of about 300 affordable housing projects ready to go, needing subsidies and support [29] - There is a need to expand resources for affordable housing preservation in New York, focusing on renovating older projects [30][31] Investment Returns - Investment funds offer investors a 9-12% IRR net on their investments over a 10-year hold, potentially doubling their investment [32]

Core Insights - Quarterra Group, a subsidiary of Lennar Corporation, has launched leasing for Artemas, a mid-rise apartment community in Everett, Massachusetts, featuring 396 apartment homes and 1,500 square feet of retail space [1][2] Company Overview - Quarterra Group focuses on creating long-term value through the development of high-quality multifamily communities across the United States, leveraging institutional scale and local market expertise [8] - The company is expanding its Emblem portfolio, which includes affordably priced communities designed to meet the needs of modern renters while promoting sustainable housing solutions [9] Project Details - Artemas is designed to reflect the vibrant character of Everett, offering amenities such as a rooftop deck with views of Boston, fitness center, resort-style pool, and various communal spaces [3][6] - The community is strategically located near entertainment options, parks, and retail hubs, enhancing the living experience for residents [3][4] Apartment Features - Residents can choose from studio, one-, and two-bedroom floor plans ranging from 561 to 1,481 square feet, with select units offering additional living spaces and luxury finishes [5] - All apartments are equipped with modern amenities, including stainless steel appliances and quartz countertops, with some featuring balconies and walk-in closets [5] Accessibility and Connectivity - Artemas is conveniently located near public transportation options, including the MBTA Orange Line and bus routes, providing easy access to Downtown Boston and surrounding areas [4]