"Suburban Sprawl Engulfs Austin"
USA Today (09/09/98) P. 3A; El Nassar, Haya

Austin was once a smaller city located in the plains of Texas. But in recent years, the city has grown at a rapid pace and is now considered to be one of the most sprawl-threatened cities in the nation, according to the Sierra Club. Suburban sprawl is the biggest threat to the quality of life in America's communities, according to the Sierra Club environmental group, which lists Atlanta and Austin as the two cities most threatened by suburban sprawl. To ease the growth trend, several communities across the nation have implemented policies designed to limit growth, and Vice President Al Gore recently began a campaign against overdevelopment. But the Sierra Club list, as well as other growth restriction policies, have been criticized by such development groups as the National Association of Home Builders. These groups say that many residents want to live in areas away from the city and actually encourage suburban growth. The issue raises questions among city planners over how to limit growth while allowing families to experience the quality of life they desire. In some places, city planners have implemented smart growth policies, which don't limit growth but encourage it in areas with roads already built and existing infrastructure. Officials in Austin have tried this approach, but there is still skepticism among some residents that these policies actually help limit growth.

"Affordable Adobe"
Christian Science Monitor (09/09/98) P. B1; Holmstrom, David

Santa Fe is often viewed by other cities as a model for solving affordable housing problems. Real estate values in New Mexico's largest city increased greatly in the late 1980s as the city became a tourist attraction. But incomes remained below the national average, despite a median home price of $200,000. As a result of the rising prices, as many as 75 percent of Santa Fe's families could no longer afford to live there, according to a city study, and many families seeking affordable housing were forced to leave. To solve the problem, the city created a coalition of financial institutions and non-profit organizations. Rather than create new policies and housing entities, the coalition used existing agencies, such as Neighborhood Housing Services (NHS). The biggest policy created by NHS and the coalition forced new luxury developments to either provide affordable housing or contribute to an affordable housing fund. As a result, several affordable homes were built and sold to low-income families. Since 1992, 418 families have purchased $33 million in mortgages through NHS.

"A New Lease on Life for Rental Units"
Washington Post (09/05/98) P. E1; Lelen, Kenneth

The Washington, D.C. metropolitan area is currently witnessing an apartment development boom, adding almost 10,000 new and renovated rental units per year. Delta Associates reports that many of the new communities are being aimed at upscale consumers, whose changing lifestyles mean that homeownership is out of the question. In addition, a number of existing properties are in the process of being renovated to appeal to such affluent tenants. Delta officials project that property owners will renovate more than 4,300 older apartments at 12 communities in 1998, compared with a total of 3,017 apartments being rehabbed last year. Local apartment market analyst Austin Decker states, "We're starting to see apartment development in eastern Loudoun County [Va.] when a year ago it didn't happen out there. The same thing has been happening in Prince George's, Anne Arundel, and Howard counties [in Maryland], where development economics are beginning to make more sense." By and large, developers report that the availability of low-cost financing has allowed them to build new rental units and upgrade existing properties. Most renovations result from landlords recognizing a need to remain competitive in the intense D.C.-area marketplace.

"Family's Dream Home: Old Key West Hotel"
Miami Herald (09/06/98) P. 1H; Klingener, Nancy

Sometimes an unusual location can serve as the site of a dream home, as was the case for Jacksonville, Fla.-based developer Joe Worth, who turned a former hotel and car dealership in Key West, Fla., into a private home. The three-story building no longer includes a 46-room hotel on the top two floors and store fronts on the ground floor. Today it is a single-family home with a open-air courtyard, which features a brick-decked pool. Worth was able to purchase the site for only $26,000 in 1978 because it had been destroyed in a fire. He chose to buy the hotel and car dealership rather than spend $90,000 for a mansion that he was also considering buying at the time.

"Don't Get Stuck Owning 2 Homes"
Miami Herald (09/06/98) P. 2H; Hymer, Dian

According to California real estate agent and author Dian Hymer, "the best time to make an offer on a new home for sale is after you have found a buyer for your home, and after the buyer's inspection contingency has been satisfied." This way, prospective home buyers and sellers will be able to avoid owning two homes at the same time, particularly in markets where there are more buyers than sellers. Hymer adds that a long closing or a rent-back option are also ways in which home sellers can give themselves more time to find a new home.

"Taos Getting Pricey for Struggling Artists"
L.A. Times (09/06/98) P. B3; Rolwing, Rebecca

Once a home to D.H. Lawrence and Georgia O'Keeffe, Taos, N.M. has long served as an inspiration and a home to hundreds of struggling artists. The dramatic landscape of mountains and the Rio Grande gorge have drawn many here, and the beautiful weather and mild humidity have convinced some to permanently stay. However, these same surroundings are also increasingly attracting upscale residents and members of the Hollywood elite, whose vast financial resources have boosted residential home prices far beyond the reach of many long-time residents. In 1995, the per capita income of Taos County was under $15,000 and the average household income was less than $25,000. Yet, three years later the median price for a home is $162,000. In an effort to create more affordable housing alternatives, local authorities have set aside $2.5 million for the construction of 124 new homes, priced near $89,000. Eligible residents must prove an annual income of less than 39,000 in order to purchase a home in the new community.

"City Beats: New York City"
Builder (08/98) Vol. 21, No. 10; P. 36; Drueding, Meghan

In the next several years, the Wall Street area of lower Manhattan will be the site of an intense residential real estate market. As a result of a new tax benefit that the city is making available, developers will have much more of an incentive to convert Wall Street office buildings into space for residential use. The Alliance for Downtown New York expects that the tax benefit will increase the number of converted housing units downtown from 1,800 in 1995 to 7,000 by 2002.

"Factory-Built Housing: The Path to Ownership?"
Consumers' Research (08/98) Vol. 81, No. 8; P. 15; Hood, John

Homeownership has often been stressed as one of the most important issues in American society, both because virtually all industries are somehow linked to homeowners and because homeownership generally improves communities. To meet this need, the government has been increasingly involved in promoting programs designed to increase homeownership, such as providing financing and easing housing regulations. But unlike other industries, such as the automotive and food industries, the housing industry has been reluctant to use its technological and productive capabilities to increase housing availability. This is where the manufactured housing industry can step in to provide alternatives to today's homes that generally look the same and are built on-site. Aside from increasing the actual number of homes available, manufactured homes can compensate for the 5.8 percent annual increase in home prices since 1976. They can provide most of the same amenities as traditional homes, but the average price of a manufactured home in 1996 was $38,400, compared to $124,000 for site-built homes. Manufactured homes are built in a factory and shipped to a site, and they must comply to regulations. But they normally don't move from their site once they are placed on the foundation, although more than half of all manufactured homes are built on rented land. The trend toward manufactured housing has grown in recent years, and manufactured homes accounted for a third of all new homes sold in 1996, according to the Manufactured Housing Institute. They are especially popular in the South and the West, yet there are a number of barriers that must be overcome to increase the trend even further. Despite conflicting studies, many people have the perception that manufactured homes cause a decline in a neighborhood's property values. Government restrictions concerning size also limit their availability. But if manufactured homes grow in popularity, they will help to significantly increase homeownership opportunities while at the same time providing affordable housing.

"Up Your Alley"
Today's REALTOR (08/98) Vol. 21, No. 10; P. 91; Davidovich, Tad

Townhouse alleys don't necessarily have to be narrow and dark. And that is why CHK Architects and Planners of Silver Spring, Md. came up with a rear-load garage design for the townhouses in Hearthstone Mews in Old Town Alexandria, Va., and made decks standard for each unit, which gives families a place to gather outdoors. Hearthstone Mews has the old-fashioned appearance that is consistent with the historic neighborhood design of Old Town Alexandia, making it a big hit with empty-nesters and young professionals. CHK President John Torti states, "You not only have to work from the kitchen sink out, but you need to work from the curb in, so the architecture fits into the existing neighborhood. Within three months of the opening of the community, all 29 townhomes were sold."

Published: September 9, 1998

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