This is why Prairie Fire focuses mainly on affordable housing – demand continues to outpace supply, now and for the foreseeable future. Two different reports in the same day discuss robust occupancies in LIHTC (affordable)housing, while the report below speaks of rising vacancies in overall multifamily. Prairie Fire is in for the long haul.
From CohnReznick: One of the most striking observations the data permit us to make is to show the incredible strength in the demand of housing credit properties. We have a shortfall in the number of affordable housing apartments that is estimated to be 7.1 million in this country. When we look at occupancy and segment it by property type, property size, financing type, new construction versus rehab, and any other characteristic, we consistently see strong occupancy in every sector. We conclude from this data that the need for additional affordable housing exists in virtually every part of the country.
From REIS Reports: The national vacancy rate has now increased for two consecutive quarters. This marks the first time that has happened since the fourth quarter of 2009 and truly represents a turning point in the apartment market. With construction outpacing demand the national vacancy rate should slowly drift higher over the coming years.”
Joint Center for Housing Studies at Harvard University releases the 2018 State of the Nation's Housing Report
Prairie Fire to develop mixed-income workforce housing in Ottawa, Kansas using Housing Tax Credits, Housing Trust Fund and Moderate Income Housing Funds!
Prairie Fire Residences in Newton, Kansas is now leasing! Contact email@example.com for more information!
770 East 5th Street
Kansas City, MO 64106