In recent years, sports stadium developers have been including affordable housing in their projects to win support from local governments and community activists.
Stadium projects in Brooklyn, N.Y., Las Vegas, Los Angeles, and St. Petersburg, Fla., have all been approved with community bargaining agreements (CBAs) that include a promise from the developer to add affordable housing to their developments. In return, the developer gets a fast-tracked approval process.
The track record of these agreements of actually yielding affordable housing is mixed.
The key for cities to realize the construction of affordable units is the inclusion of an enforcement mechanism in the agreement.
Without an enforceable agreement that includes milestones, the developer can choose to construct everything that is profitable first before creating affordable housing.
Related Stories
Giants 400 | Oct 23, 2023
Top 75 Multifamily Engineering Firms for 2023
Kimley-Horn, WSP, Tetra Tech, Olsson, and Langan head the ranking of the nation's largest multifamily housing sector engineering and engineering/architecture (EA) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking factors revenue for all multifamily buildings work, including apartments, condominiums, student housing facilities, and senior living facilities.
Giants 400 | Oct 23, 2023
Top 190 Multifamily Architecture Firms for 2023
Humphreys and Partners, Gensler, Solomon Cordwell Buenz, Niles Bolton Associates, and AO top the ranking of the nation's largest multifamily housing sector architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking factors revenue for all multifamily buildings work, including apartments, condominiums, student housing facilities, and senior living facilities.
Affordable Housing | Oct 20, 2023
Cracking the code of affordable housing
Perkins Eastman's affordable housing projects show how designers can help to advance the conversation of affordable housing.
Affordable Housing | Oct 10, 2023
Lendlease expands military housing nation-wide with Cadence Communities
Lendlease announced today it has closed ground leases at seven U.S. Army installations, which together establish the new Cadence Communities portfolio.
MFPRO+ News | Oct 6, 2023
Announcing MultifamilyPro+
BD+C has served the multifamily design and construction sector for more than 60 years, and now we're introducing a central hub within BDCnetwork.com for all things multifamily.
Affordable Housing | Oct 3, 2023
Standard Communities acquires six 100% affordable housing communities
These affordable housing communities total 407 units, and five of the communities are dedicated to senior living.
Multifamily Housing | Sep 26, 2023
Midwest metros see greatest rent increase in September 2023
While the median monthly price of rent has increased by 0.71% in August, the year-over-year estimates show a national change of -0.06 percent.
Affordable Housing | Sep 25, 2023
3 affordable housing projects that serve as social catalysts
Trish Donnally, Associate Principal, Perkins Eastman, shares insights from three transformative affordable housing projects.
MFPRO+ Blog | Sep 21, 2023
The benefits of strategic multifamily housing repositioning
With the rapid increase in new multifamily housing developments, owners of existing assets face increasing competition. As their assets age and the number of new developments increases seemingly day-by-day, developers will inevitably have to find a way to stay relevant.
Mixed-Use | Sep 20, 2023
Tampa Bay Rays, Hines finalize deal for a stadium-anchored multiuse district in St. Petersburg, Fla.
The Tampa Bay Rays Major League Baseball team announced that it has reached an agreement with St. Petersburg and Pinellas County on a $6.5 billion, 86-acre mixed-use development that will include a new 30,000-seat ballpark and an array of office, housing, hotel, retail, and restaurant space totaling 8 million sf.
