What @sog_ced is reading online: October 2023

Published for Community and Economic Development (CED) on October 31, 2023.

The following are articles and reports on the web that the Community and Economic Development Program at the UNC School of Government shared through social media over the past month. Follow us on twitter or facebook to receive regular updates.

Items of interest related to CED in North Carolina:

Property owners in Eastern NC face huge jumps in premiums or total loss of coverage as insurers update their models to better reflect the severity of hazards in recent years. How will this impact a region still in recovery? https://bit.ly/48ASi70

Nationwide Insurance drops over 10,000 homeowners’ insurance policies in storm-impacted areas of Eastern NC due to reassessment of risk. NC counties with most dropped policies: Pitt, Craven, and Wayne. News and Observer article: bit.ly/45rV6R4

The market’s answer to demand for affordable housing? Manufactured housing. NC Housing Finance Agency reports approximately “470,000 occupied manufactured houses [in NC], of which 91% are inhabited by low-income households.” bit.ly/40dRy44

DFI in the news:

UNC DFI provides the Watauga County Commissioners with an overview of their community’s affordable housing needs, finding the County needs 1,700 units today to meet demand: https://bit.ly/3rBxqfg

UNC DFI, in partnership with Buncombe County, will be holding a series of community meetings later this month to learn more about plans for Ferry Road, a mixed-use, mixed-income development alongside 70+ acres of conserved land and trails by the French Broad River. DFI helps Buncombe County leaders consider the tradeoffs and community benefits of a P3 (Public-Private Partnership), a $34M investment in $210M Ferry Road project, asking “Is the private sector bringing more to the table than you all are to achieve these critical public interests?” https://bit.ly/46kXbiW and https://bit.ly/3PGJDHz

Other CED Items:

Leading apartment developers surveyed in June reported that 62% of multifamily projects were no longer economically feasible, up from 38% last year: https://bit.ly/49gdkYO Check out UNC DFI’s post on the CED blog on recent estate trends in real estate: https://bit.ly/45XOjii

The White House announces several new programs that could mitigate the financial challenges of converting vacant office space into residential units: https://bit.ly/3QhV74u

FHA will now let homeowners count ADU rental income as part of their income to qualify for a mortgage, allowing new homes to be built with ADUs as well as rehab of existing structures into ADUs: https://bit.ly/3sdSxEO

Last month’s edition of “What @sog_ced is reading….” https://ced.sog.unc.edu/2023/09/what-sog_ced-is-reading-online-september-2023/ 
Topics - Local and State Government