Latest news with #HUD
Yahoo
a day ago
- Business
- Yahoo
Multifamily starts spike for 5-plus units in June
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Dive Brief: Starts for buildings with five or more units jumped 30.6% month over month in June and rose 25.8% year over year to a seasonally adjusted rate of 414,000, according to a monthly report from HUD and the U.S. Census Bureau. Overall housing starts came in at a seasonally adjusted annual rate of 1.3 million in June — a 0.5% decrease YOY and a 4.6% increase compared to the revised May estimate. Single-family home starts clocked in at a rate of 883,000 homes, a 10% YOY fall and a 4.6% month-over-month decline. Apartment developers pulled permits for a seasonally adjusted rate of 478,000 apartments in buildings with five units or more, an 8.1% YOY increase and a 2.1% increase compared to May. Dive Insight: While multifamily starts jumped in June, the feeling in the apartment development and finance community is that it is still extremely difficult to underwrite deals. Part of the issue is the still-high delivery levels in many areas of the country. However, the amount of new deliveries in buildings with five or more units is starting to decline, according to Census figures. At the end of June, 720,000 units were under construction, a 19.6% YOY drop and a 0.6% month-over-month decline. Multifamily developers finished an annualized 383,000 apartments in buildings with five or more units, a 39.8% YOY drop and a 21% month-over-month decline. With the new supply, acquiring existing properties has become more attractive for many equity investors. 'You're seeing that in some markets, you can buy a new product below replacement costs,' Berkadia Managing Director Brad Williamson told Multifamily Dive. However, Williamson said that his team is still working on construction loans, with about $2 billion closed as of this summer. 'We're doing a lot of multifamily construction and condo construction,' Williamson said. Williamson also pointed out that not all new construction is equal. 'The garden product on the multi side pencils a lot better,' he said. 'But once you get into the mid- and high-rise, those deals tend to be more expensive to build and tend not to pencil.' Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
a day ago
- Politics
- CBS News
HUD planning to take over Atlantic City Housing Authority, citing failures to carry out improvement plan
The Atlantic City Housing Authority may soon fall under federal control, according to a letter unveiled by New Jersey Rep. Jeff Van Drew this week. Van Drew — a Republican whose district covers most of South Jersey, including Atlantic City — said the Department of Housing and Urban Development had found ACHA to be "in substantial default," or in other words, had violated one or more tenets of the Housing Act of 1937. In the letter, HUD's Acting Public Housing Director in Newark, Monica Hawkins, said ACHA failed to complete goals outlined in a "recovery agreement" to get ACHA back on track. The authority had scored 45 out of 100 on a HUD assessment in 2023, a score that gave the authority a designation as "troubled." The score lowered to 40 out of 100 in another assessment issued in March 2025. Goals were set including increasing the assessment score to at least 60 and boosting occupancy of ACHA units to 96%. That goal was not met, with HUD measuring that only 71.4% of the units were occcupied, according to the letter. HUD said ACHA failed to meet other goals in the category of "improving physical conditions of dwelling units." Several forms detailing possible work that could improve those properties were still just drafts and not finalized, according to the letter. In 2024, Atlantic City officials outlined a plan to invest over $3 million in the struggling Stanley Holmes Village, a complex mentioned multiple times in the assessment. Here's a portion of Van Drew's statement issued Monday: "Families were freezing in their homes, living with mold, no heat, no hot water, and no help. It was unacceptable. I promised the people I would not stop until something changed, and today, accountability is here. I want to thank Secretary Turner for giving this situation the attention it deserved. The failed governance is being addressed, and now it is going to be rebuilt from the ground up. We fought hard, and we got the job done." Atlantic City has 10 workdays to respond or appeal. A spokesperson for the city did not respond to an email requesting comment Tuesday. CBS News Philadelphia previously reported on issues at one apartment complex operated by ACHA, the Stanley Holmes Village Apartments — the oldest public housing complex in the state. In December 2022, results of an inspection were released detailing issues with heat, infestations of rodents, bedbugs and roaches, nd mold, broken toilets and other issues. City inspectors reported finding problems in all 320 apartments they visited over several days. The inspection found all units had basic heat, but in some, the heat did not meet standards — with some bedrooms cooler than the required minimum temperature of 68 degrees. Others had temperatures over 80 degrees. Nearly 50 units had issues with hot water. Late last year, officials held a news conference and discussed an action plan to address the issues at Stanley Holmes Village, including $3.5 million in investments for higher efficiency boilers and sensors that can detect leaks and temperature issues. At that time, residents of 72 units had voluntarily transferred out of the apartments' Village Hughes contributed to this report.
Fox News
2 days ago
- Business
- Fox News
'It won't be long': HUD secretary shares video of dilapidated roof tiles at HQ amid bid to move it outside DC
Housing and Urban Development Secretary Scott Turner shared a video Monday afternoon on social media showing falling roof tiles at the HUD agency's D.C. headquarters amid the agency's efforts to relocate its headquarters under the Trump administration. The video of the damaged building comes after Turner announced last month that HUD would be relocating its headquarters down the road to Alexandria, Virginia. Turner previously cited the fact that the D.C. building is facing over $500 million in "deferred maintenance" costs, while only half of HUD's D.C. headquarters is currently being used. He has also argued the building is not safe, which he further illustrated in a Monday post on X. "The current HUD HQ is falling apart everywhere you turn. I witnessed this firsthand today," Turner captioned his video posted to X Monday afternoon. "It's not suitable for HUD staff or the people we serve. Moving day can't come soon enough." Turner showed "damaged roof tiles," which he described as water-logged and "leaking." The video showed a gaping hole in the roof of the HUD headquarters, with a trash heap beneath it full of what appeared to be broken roof tiles from the inside of the building that fell. "Did this fall on anyone?" Turner asked in the video, after which someone behind the camera confirms it did not. "Well," Turner replied. "It won't be long. It won't be long." The HUD building will relocate from the Robert C. Weaver Federal Building to 2415 Eisenhower Avenue in Alexandria, where the National Science Foundation (NSF) is housed, but no indication has been made about when that move will be finalized. The move marks the first major executive agency under Trump to relocate its headquarters. The relocation effort will be a staggered process that will ultimately relocate approximately 2,700 HUD employees currently based at the D.C. headquarters building, according to the General Services Administration (GSA). In addition to saving on deferred maintenance costs, the relocation will also save taxpayers roughly $56 million in annual rent and operations expenditures, according to HUD. "This is about the HUD employees to have a safe space, to have a nice place to work, to represent the people that we serve in America," Turner said during a press conference formally announcing the relocation last month. "This is not about the secretary. This is about the posterity and the future of HUD." NSF staff met this week to discuss how they will handle the HUD relocation, including a potential relocation themselves, local reporting out of Alexandria indicated.
NBC News
2 days ago
- Health
- NBC News
Domestic violence and sexual assault organizations sue Trump administration over funding restrictions
More than 20 nonprofit organizations that receive federal grants to serve victims of domestic violence and sexual assault, and those experiencing homelessness, filed a lawsuit Monday against the Trump administration over new funding requirements. The organizations — which are spread across more than a dozen states and include Rhode Island Coalition Against Domestic Violence, Colorado Coalition Against Sexual Assault, and Violence Free Minnesota — allege the changes at the Departments of Housing and Urban Development (HUD) and Health and Human Services (HHS) 'have thrown a wrench' in their 'life-saving work.' Some of the plaintiffs, according to the suit, stand to lose hundreds of thousands of dollars in federal funds. The complaint, filed in U.S. District Court for the District of Rhode Island, states that the new restrictions do not enable the plaintiffs to better serve vulnerable members of society and instead 'seek to advance the Administration's wholly unrelated ideological goals—including to end 'diversity, equity, inclusion, and accessibility,' deny transgender people's identities, and cut off access to abortion resources and referrals.' In March, for example, HUD Secretary Scott Turner announced in a post on social media that the department would impose new conditions on funds distributed through its Continuum of Care program, which is designed to end homelessness. The conditions cite several executive orders President Donald Trump issued during the first weeks of his presidency, including that the government will only legally recognize two, unchangeable sexes; deem diversity, equity and inclusion programs within the federal government 'illegal'; and end 'forced use of Federal taxpayer dollars to fund or promote elective abortion.' HHS and three of its divisions — the Administration for Children and Families, the Centers for Disease Control and Prevention and the Health Resources and Services Administration — were also named as defendants and have enacted similar conditions for grant recipients, affecting the CDC's Rape Prevention and Education program, funding for families who have experienced domestic violence and grants intended to reduce infant and maternal mortality, among other programs. In line with those executive orders, the conditions at HUD and HHSprohibit grant recipients from using funds to promote 'gender ideology,' which the administration defines as the concept that someone's gender identity can be different than their birth sex. They also require recipients to certify that they do 'not operate any programs that violate any applicable Federal antidiscrimination laws' and prohibit recipients from using funds to 'fund or promote elective abortions.' The complaint argues that the requirements have been written in a way 'expressly designed to expose grantees to civil and criminal liability' under the False Claims Act, which prohibits false claims to the federal government. The complaint says these new conditions put plaintiffs 'between a rock and a hard place.' 'They can accept the conditions—and fundamentally change their programming, abandon outreach methods and programs designed to best serve their communities, and risk exposing themselves to ruinous liability. Or they can decline the funding and halt their funded programs—displacing domestic and sexual violence survivors from safe housing, ending programs designed to reduce and prevent domestic and sexual violence, and putting previously homeless families and children back on the streets,' the complaint states. HHS, the Administration for Children and Families, the CDC, the Health Resources and Services Administration and HUD did not immediately respond to requests for comment on the complaint. Skye Perryman, the president and CEO of Democracy Forward, one of the organizations representing the plaintiffs, said the new policy is an example of the administration continuing to 'target people in vulnerable communities.' 'Organizations serving survivors of domestic violence and sexual assault, LGBTQ+ youth, and people experiencing homelessness should not be forced to abandon their work, erase the identities of those they serve, or compromise their values just to keep their doors open,' Perryman said in a statement. 'This unlawful and harmful policy puts extreme schemes ahead of people's dignity and safety by restricting essential federal support.' The suit, which asks the court to permanently block the funding conditions, argues that imposing the restrictions exceeds the government's authority by circumventing Congress, which generally approves any changes to federal funding. In addition, the suit argues that in some cases the conditions conflict with other federal policies. For example, recipients of Continuum of Care funds are required to comply with nondiscrimination regulations, the suit states, including HUD's equal access rule, which requires services, including sleep quarters and bathroom facilities, to be 'provided to an individual in accordance with the individual's gender identity,' and that individuals are 'not subjected to intrusive questioning' or asked to provide evidence of their gender identity.
Politico
3 days ago
- Business
- Politico
What's next for DOT appropriations?
Presented by The Association of American Railroads With help from Pavan Acharya QUICK FIX — The Senate Appropriations Committee is gearing up to consider its DOT and HUD spending bill after a House panel cleared its own version last week. Here's the schedule. — The FAA's finalized request for companies' ideas on revamping the U.S. air traffic control system still isn't out. And the timeline moving forward is unclear. — There's a looming trade war with the EU, and aircraft are in the crosshairs. IT'S MONDAY: You're reading Morning Transportation, your Washington policy guide to everything that moves. We're glad you're here. Send tips, feedback and song lyrics to Sam at sogozalek@ Chris at cmarquette@ Oriana at opawlyk@ and Pavan at pacharya@ and follow us at @SamOgozalek, @ChrisMarquette_, @Oriana0214 and @pavanmacharya. 'If you leave today, I'll just stare at the way/ The orange touches all things around/ The grass, trees, and dew, how I just hate you/ Please turn those headlights around/ Please turn those headlights around.' Want to receive this newsletter every weekday? Subscribe to POLITICO Pro. You'll also receive daily policy news and other intelligence you need to act on the day's biggest stories. Driving the Week MOVING QUICKLY: The Senate Appropriations Committee will consider its fiscal 2026 DOT and HUD spending bill Thursday morning, skipping a subcommittee markup. (House appropriators approved their version of the annual legislation last week.) The race is on as Congress faces a Sept. 30 funding deadline, with limited days in session over the coming two months due to the August recess. WHAT TO WATCH: Will the panel aim to keep DOT's funding relatively steady — or even increase it? How will the FAA fare? And will transit or Amtrak see cuts? — Where and when: The meeting starts at 9:30 a.m. in Dirksen 106. But as a heads up, the Interior Department and EPA spending bill will also be considered. IS IT FRUITLESS? It's unclear whether Democrats will play ball in the Senate as appropriators seek to avoid another continuing resolution. Keep an eye on the floor as early as Tuesday, with a test vote anticipated for the upper chamber's first tranche of Republican spending bills, including possibly one for the VA and military construction. That will provide some indication of how things are shaping up. Democrats may have little incentive to help the GOP out as a government shutdown looms: Office of Management and Budget Director Russell Vought says the White House may send another rescissions package to Congress soon. GET THE RUNDOWN: Your MT team had full coverage last week of the House Appropriations Committee's fiscal 2026 DOT and HUD spending bill, which the panel advanced. You can read more here: — Sam has a breakdown of the text, including amendments adopted at a markup. — He also has a deep dive into Republicans' attempt to repurpose more than $4 billion in 2021 infrastructure law funds to use for parts of their new legislation. — Sam and Chris reported on the GOP's effort to block any appropriations from flowing to New York's congestion pricing program. — And there's much, much more. Aviation STILL NOTHING: The FAA noted Friday that a finalized version of its request for companies' ideas on how to undertake the Trump administration's planned overhaul of the U.S. air traffic control system is not ready yet. The agency 'is continuing to review feedback, assess, and refine,' reads an update on the federal government's contracting website. 'A new publishing [date] will be determined.' OOP: As MT readers will know, the FAA on July 11 reported that the updated request was anticipated to be released early last week, with proposals for the project set to be due Aug. 4. Now, it's unclear what the time frame is. A TIGHT WINDOW: DOT Secretary Sean Duffy wants to complete the endeavor in three to four years, a highly ambitious schedule. Republicans in their recent reconciliation package gave the FAA a $12.5 billion 'down payment' for the effort, but Duffy told the House Transportation Committee last week that he wants $19 billion more on top of that to complete the entire project. FIRST IN MT: A group of 12 Democratic senators, led by Sen. Ed Markey (D-Mass.), in a letter to FAA Administrator Bryan Bedford is requesting a slew of details about the state of the agency's staffing, citing the firing of probationary workers in February (who a federal judge ordered be reinstated) and the Trump administration's so-called deferred resignation program. The lawmakers want to obtain, among other things, an 'analysis conducted by the Office of Airports related to the impact of workforce cuts on its safety mission.' — The group also wants information about the FAA's use of artificial intelligence to analyze air traffic risks. ICYMI: DOT threatened Saturday to disapprove flight requests from Mexico if the country doesn't take action in response to the Trump administration's concerns over slot cuts and the forced relocation of U.S. cargo carriers out of Mexico City's Benito Juarez International Airport. Details can be found here. Trade A STRESSFUL SUMMER: President Donald Trump is threatening to impose a blanket 30 percent tariff on EU goods starting Aug. 1 if there's no trade deal with the bloc, and Boeing and Airbus are facing a devastating blow if European countries follow through on a potential retaliatory strike against almost €11 billion in U.S. aircraft and parts, Tommaso Lecca reports from Brussels. — 'A tit-for-tat tariff situation would put more pressure on the already fragile aviation supply chain,' said Marina Efthymiou, professor of aviation management at Dublin City University. 'Higher costs and delays in moving parts could slow down aircraft production and deliveries.' On The Hill LOTS OF MODES: It won't be as hectic this week when it comes to transportation issues on Capitol Hill, but lawmakers still have a lot on their plate. Aside from the Senate appropriations markup, here's what's on the schedule: — Tuesday: The Senate Commerce Committee's surface transportation, freight, pipelines and safety panel will hold a hearing about the trucking and commercial bus industries to discuss possible ways to adjust the FMCSA in the successor to the 2021 infrastructure law. At 2 p.m., the House Transportation Committee's Coast Guard and maritime subcommittee will host a hearing about the Federal Maritime Commission's fiscal 2026 budget request. — Wednesday: Three nominees for high-ranking DOT roles will face a Senate Commerce Committee confirmation hearing at 10 a.m. They are Seval Oz for assistant secretary for research and technology; Michael Rutherford for assistant secretary for multimodal freight infrastructure and policy; and Gregory Zerzan for general counsel. At 3 p.m., the Senate Environment and Public Works Committee's transportation panel will host a hearing about improving U.S. infrastructure. The witnesses are: Chad Orn, deputy director of planning at the North Dakota DOT; Marisa Jones, managing director of policy and partnerships at the Safe Routes Partnership; and Samantha Biddle, the Maryland DOT's deputy secretary. drones NONCOMMITTAL: Pavan caught up with Senate Commerce Chair Ted Cruz (R-Texas) late last week after some House members recently suggested they were interested in muscling counterdrone authorities legislation through Congress sometime before next summer's FIFA World Cup, which spans North America. Cruz said it's 'certainly an issue we're looking at very closely,' appearing to refer to his committee, and when asked if it's realistic that such a bill could get done prior to the soccer tournament, he would only say: 'Possibly.' Highways THOUGHTS, ANYONE?: DOT in a Federal Register notice says it's seeking ideas and comments from the public about the next surface transportation bill. NEW FACES WHO THEY ARE: Three DOT administrator nominees breezed through their Senate Commerce Committee confirmation hearing last week, and their initial questionnaires submitted to the panel are now available to the public. — Jonathan Morrison, the pick to run NHTSA, indicated that he might take an industry-friendly approach to the oversight of emerging software and hardware like automated driving systems, saying the agency must work to 'establish robust performance requirements that meet the need for motor vehicle safety in a way that does not hamper innovation.' He's a former Apple attorney and was the agency's chief counsel during Trump's first term, during which he tangled with Elon Musk's Tesla. — Derek Barrs, the choice to head the FMCSA, suggested that he wants to upgrade the trucking regulator's internal computer systems to 'ensure they can effectively support new technologies and withstand cyber threats.' He previously served as chief of the Florida Highway Patrol and is a school board member in the Sunshine State. — Paul Roberti, the prospective leader of PHMSA, who was the pipeline safety agency's top lawyer during the first Trump administration, wrote that it must 'rise to the challenge of streamlining regulations.' Shifting Gears — Jonathon Freye will head the Association of Value Airlines as executive director. He previously led government affairs for an aerospace division of Hyundai Motor Group. The Autobahn — 'Delta regional pilot makes 'aggressive maneuver' to avoid B-52 collision.' ABC News. — 'US judge sets August hearing on bid to end Boeing criminal prosecution.' Reuters. — 'NTSB chair says media reports on Air India crash are speculative, premature.' Reuters. — 'After years of tough rules on liquids and footwear, US air travel may be on the cusp of a new era.' AP. — 'JFK Lifts Ground Stop Caused by Disabled Aircraft on Runway.' Bloomberg. — 'Carmakers Face Uncertainty as Tariffs and Earnings Collide.' Bloomberg.
