Standard Communities acquires six 100% affordable housing communities

The line separating hospitality and residential living keeps getting thinner. Multifamily developers are attracting renters and owners to their properties with hotel-like amenities and services. Post-COVID, more business travelers are building in extra days to their trips for leisure. Buildings that mix hotel rooms with for-sale or rental apartments are increasingly common.

East of downtown Atlanta, a new residential building called Signal House will provide the city with 162 units ranging from one to three bedrooms. Located on the Atlanta BeltLine, a former railway corridor, the 21-story building is part of the latest phase of Ponce City Market, a onetime Sears building and now a mixed-use complex.

Brad Perkins, FAIA, a veteran of more than four decades in the planning and design of senior living communities, looks at where the market is heading in the immediate future. 

Eagle + West, composed of two sculptural residential towers with complementary shapes, have added 745 rental units to a post-industrial waterfront in Brooklyn, N.Y. Rising from a mixed-use podium on an expansive site, the towers include luxury penthouses on the top floors, numerous market rate rental units, and 30% of units designated for affordable housing.

Houston will soon have 50 new residential units for youth leaving the foster care system and entering adulthood. The Houston Alumni and Youth (HAY) Center has broken ground on its 59,000-sf campus, with completion expected by July 2024. The HAY Center is a nonprofit program of Harris County Resources for Children and Adults and for foster youth ages 14-25 transitioning to adulthood in the Houston community.

The number of adaptive reuse projects in the pipeline grew to a record 122,000 in 2023 from 77,000 registered last year, according to RentCafe’s annual Adaptive Reuse Report. Of the 122,000 apartments currently undergoing conversion, 45,000 are the result of office repurposing, representing 37% of the total, followed by hotels (23% of future projects).

The City of San Francisco released a Request For Interest to identify office building conversions that city officials could help expedite with zoning changes, regulatory measures, and financial incentives.