Mixed-use developments get regulatory break
We reported in October on new Federal Housing Administration (FHA) rules that loosen restrictions on mixed-use. The New York Times now reports on how that rule change, which allows properties with a greater percentage of mixed-use to qualify for FHA-insured loans that can be resold on secondary markets, is actually affecting real projects. The Times interviews Katharine Kelley, active in the Congress for the New Urbanism, who works for Jamestown Properties, which is creating a mixed-use development in a massive old Sears warehouse in Atlanta. “We continue to assess the right mix of what those units should be,” said Kelley, director of Jamestown’s development and construction division. “But the new FHA ruling strengthens the attractiveness of condos as an option, because it increases the field of potential condo buyers.”
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