Each quarter the GSEs regulator, FHFA, meets with NMHC to discuss general market conditions and the demand for multifamily debt. In our last meeting FHFA asked to meet with NMHC members who are involved in workforce housing with the goal of defining this market and exploring ways to provide guidance and direction to the GSEs to more effectively serve workforce housing.
Over the last couple of weeks, we held two meetings with FHFA and focused on two key areas – market development and preservation. The discussions on included former NMHC Chair, Daryl Carter, from Avanath Capital Management, former Workforce Housing Committee Chair, Larry Curtis, from Winn Development, current Workforce Housing Committee Chair, Jeff Brodsky, from Related Companies, Dan Minahan and Ed Madell from Continental Properties, and Nathan Taft from Jonathan Rose Companies. NMHC’s members offered unique and valuable insight into the challenges of developing in the workforce housing space and suggested thoughts and ideas for FHFA to consider.
NMHC will continue to engage with FHFA as they continue to seek ways to more broadly serve the workforce housing market. NMHC and several members have been invited to participate in an FHFA Workforce Housing Workshop on June 27.