New Updates on PD&R Edge

IN PRACTICE

Modular Construction Brings Affordable Senior Housing to Yonkers, New York
The city of Yonkers, New York, faces a pronounced need for affordable housing, which is especially true for the city's seniors. La Mora Senior Apartments, which was codeveloped by the Municipal Housing Authority for the City of Yonkers and the nonprofit Mulford Corporation, opened its doors to residents in July 2024. La Mora was developed on a vacant city-owned lot and is notable for its use of cost-reducing modular construction techniques. La Mora consists of 60 units, is located near shopping, parks, and several bus lines, and offers services for seniors such as home-delivered meals and assistance with health services.

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SPOTLIGHT ON PD&R DATA

Slowing Job Growth and Balanced to Slightly Tight Market Conditions in the Warren HMA
The Warren Housing Market Area is composed of five counties in southeastern Michigan and is home to 2.59 million residents. While economic conditions in the Warren HMA are stable, job growth has slowed over the previous 12 months. Over the next 3 years, nonfarm payrolls are expected to increase, driven by growth in the health services sector and net growth in the manufacturing sector. The home sales market is slightly tight, with an estimated vacancy rate of 0.9 percent as of August 1, 2024. The rental market is balanced, and demand is anticipated for just over 4,000 new rental units over the next 3 years.

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