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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