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Homeownership Tops Bush Housing Agenda
President Bush says that increasing homeownership will be a top priority during his second term, as he pushes for tax credits for affordable-housing developers and zero-down loans backed by the Federal Housing Administration. He believes his tax cuts helped boost the national homeownership rate to 69% currently from 67.5% in 2001, although Democrats insist that low interest rates were the key driver. The President also will work on reforming the Section 8 rental voucher program. Rather than giving local housing authorities a certain number of vouchers each year, Bush wants to give them money so they can design their programs to meet local needs. He also would offer incentives to promote efficient use of the money. (www.phillyburbs.com)
PhillyBurbs.com (11/19/04) Armas, Genaro C.
First-Time Home Buyers Kept Housing Boom Going This Year
A new study by the National Association of Realtors® finds that first-time buyers accounted for 40% of home purchases, or 3.23 million sale transactions, in this year's booming residential market. At the same time, money flowing into the market from these first-time buyers helped equip existing home owners with the capital needed to purchase new residences. "It's all due to entry-level buyers," confirms NAR spokesman Walter Molony. "Without the liquidity that first-time buyers are providing to the marketplace, we wouldn't be having record sales." The trend is expected to continue in the next 10 years or so as offspring from the baby boom generation age into their prime years for buying real estate and as more minorities and immigrants become better positioned to enter the purchase market. (online.wsj.com)
Wall Street Journal (11/18/04) P. D7; Flandez, Raymund
Landscaped Roofs Have Chicago Mayor Seeing Green
After a trip to Europe, during which he saw many garden-like commercial and residential rooftops, Chicago Mayor Richard Daley initiated a citywide green roof initiative. Roofs with park-like scenery and greenery have long provided European landlords and tenants with a number of environmental, economic and aesthetic benefits. Daley adds, "I thought, with all the flat roofs in Chicago, you could reclaim thousands of acres for the environment and also help buildings with heating and cooling and controlling rainwater going into the sewer system." Most green roofs are made up of low-maintenance, drought-resistant plants such as sedum. The covering is less than four inches thick and can either be planted by property managers or laid down as pre-vegetated mats. One of the main benefits of green roofs is better water management, as they can absorb as much as 60% of the rainwater that falls on them. Other benefits include energy savings and durability. One drawback, however, is that the cost of a green roof can be as much as double that of a conventional roof — although proponents say the investment is well worth it in the long term. (news.nationalgeographic.com)
National Geographic News (11/15/04) Handwerk, Brian
Apartment Developers Have Lofty Plans
Apartment developers and property owners are using loft-style features such as open-floor plans and kitchen islands to appeal to today's tight market for renters. The open-floor plans of new loft buildings give tenants the freedom to decide if they want separate rooms at all. Intrigued by the idea, some national developers are even hiring architects to deliver such designs in their new construction. Archstone-Smith, for example, recently opened a high-end apartment property in Northern Virginia in which all rental units feature kitchen islands that "blow open the space," in the words of chief development officer Al Neely. AvalonBay Communities Inc.'s new Avalon at Glen Cove in New York, meanwhile, is an upscale loft community with open-floor plans or so-called "great rooms." Morgan Stanley analyst Robert Stevenson says that as popular as lofts are, it is still a mostly niche market. He adds, "You're not going to market lofts to B-quality renters, the renters by necessity." (online.wsj.com)
Wall Street Journal (11/17/04) P. B4; Smith, Ray A.
City's Granny Units a National Success
The city of Santa Cruz, CA, was one of five winners honored by the Environmental Protection Agency for smart development. About 100 communities from across the country submitted entries demonstrating how their initiatives are environmentally friendly while simultaneously creating economic opportunity. Santa Cruz won in the Polices and Regulations category for its Accessory Dwelling Unit program, which allows home owners to build a smaller residence — commonly called a granny flat — on their property, as long as it meshes with a city-approved design. "What we like about it are the principles of smart growth that it supports — additional housing choices, realm of affordability, increased housing in neighborhoods without dramatically changing the character," commented EPA policy analyst Tim Torma. The Santa Cruz program, which includes a how-to manual that covers everything from construction to the responsibilities of being a landlord, was launched two years ago. Since then, nearly 100 cities in California have requested copies of the handbook and unit plans, according to Santa Cruz housing and community development manager Carol Berg. "This kicks it up to a national level," she said of the EPA award. (www.santacruzsentinel.com)
Santa Cruz Sentinel Online (11/18/04) Bookwalter, Genevieve
Forget Florida — West Is New Retiree Hot Spot
Migrating retirees increasingly are flocking to small, Western cities to escape the cold and take advantage of rural surroundings and the opportunity for outdoor activities. Currently, Nevada has the fastest-growing senior population in the United States; the number of residents there aged 65 and older nearly doubled from 1990 to 2003. The top 10 states for senior population growth also include such Western designations as Arizona, New Mexico, Utah, Colorado and Idaho. In the next 20 years, the Census Bureau predicts that the senior populations of Western states like Utah, Washington, Idaho, Wyoming, Oregon, Alaska and Colorado will at least double. The influx of elderly residents is putting these markets on notice to examine their resources and draft plans for improving health care, affordable housing, employment opportunities and other services for retirees. For example, states are taking into consideration the trend toward home care rather than nursing homes for ailing seniors. Western state and local officials also are working to devise affordable housing plans, as the influx of wealthy newcomers drives up the cost of housing for existing residents in many areas. (deseretnews.com)
Deseret Morning News (UT) Online (11/14/04) Wagner, Angie
Design Goal: Spaces for Those of All Abilities
The concept of universal design is being pushed to the forefront, mainly because longer life expectancies will increase the number of people who are defined as disabled. Universal design aims to make buildings and communities accessible to everyone; build on the Americans with Disabilities Act; and eliminate the stigmas associated with disabilities. In Washington state, for example, the Northwest Housing Guild hopes to employ universal design in the two-story homes planned for construction near Rainier Beach. The moderately priced dwellings will boast elevators, wide hallways, door levels and countertops at staggered heights. Many home owners are undertaking universal design projects themselves, having roll-in showers, stair-less entryways and other accessible features included in their newly built dwellings. (seattletimes.nwsource.com)
Seattle Times (11/13/04) P. B1; King, Marsha
Floors With a Past
Builders and home owners increasingly are drawn to reclaimed woods because these materials are attractive, eliminate the need to cut down trees and give homes a sense of history. Reclaimed woods are taken from old factories, barns, mills, bridges, wineries, breweries, distilleries and the like. Longleaf Southern yellow pine, oak, chestnut, hemlock and cypress are the most popular recycled woods. Given that the restoration process takes a lot of time and manpower, home owners will spend more for reclaimed woods. They can expect to shell out anywhere from $4.50-$20 or more per square foot, depending on the type of reclaimed wood, compared to just $3-$5 per sq. ft. for new hardwood. Reclaimed-wood sellers are not regulated, so experts urge home owners to work with reputable companies that guarantee and verify their products. (www.pittsburghpostgazette.com)
Pittsburgh Post-Gazette (11/13/04) P. B1; McKay, Gretchen
Building Demolition Often a Recycling Effort
According to the Florida-based Deconstruction Institute, the demolition of buildings accounts for about 124 million tons of debris each year in the United States, but a movement is afoot to reuse building material even if it means slower demolition. "Rather than knocking it down and carting it off to a landfill, if you deconstruct a building and reuse its parts elsewhere, you're saving labor, materials," says U.S. Green Building Council founding member Alan Traugott. "You are trying to avoid going for new, virgin materials and all the embodied energy and associated environmental impact that reflects." PNC Financial Services, as an example, plans to recycle more than 70% of Pittsburgh's former Public Safety Building as it converts the site into a park. Officials estimate that demolition of the building will produce 11,000 tons of waste, 8,000 of which will be recyclable. (seattletimes.nwsource.com)
Seattle Times Online (11/02/04) Yates, Jennifer C.
Commerce: Leading the 'Bullish' Forecasts
The U.S. Commerce Department has issued what is one of the more optimistic outlooks for the 2005 construction market, based on its belief that the housing sector will stand up even under the pressure of slightly higher interest rates. The agency is calling for a 5.8% gain in total building activity on the heels of 2004's impressive jump of 9.2%. The residential market, which is cast to rally 14% this year, is expected to plug ahead another 7.5% in 2005, according to the outlook. Commerce economist Patrick MacAuley notes that other sectors — such as water and sewer construction — will feed off the strength of the housing market. He additionally predicts growth in other public works markets as well as in most non-residential areas, with healthcare weighing in as the fastest-growing category. The only market where Commerce predicts a decline is mass transportation, which it warns will slide by 3%. (www.construction.com)
ENR Online (11/15/04)
Construction Tops Trillion Dollar Annual Pace
U.S. construction activity in September totaled about $1.014 trillion, an 8.9% increase over the pace of construction in 2003, according to seasonally adjusted figures from the U.S. Department of Commerce. The September report marks the third consecutive month in which the pace of U.S. construction activity topped out above the trillion-dollar mark. The Commerce Department valued total construction for the year as of September at $741 million, 9.4% more than the first nine months of 2003. Kenneth Simonson, chief economist for the Associated General Contractors of America, notes that despite the increase in activity, contractors have been faced with continuing price hikes for materials such as steel, diesel fuel, asphalt and insulation. However, he says the "outlook remains moderately positive" for both public and private non-residential construction. (www.enr.com)
ENR (11/15/04) Vol. 253, No. 19, P. 23
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