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January 24, 2008

From the Editor


I salute Long Island. Yesterday, a colleague forwarded me a story from Newsday that I found fascinating. The article discussed a recent report showing that Long Islanders would gladly trade their single-family homes for multifamily residences in high-density, transit-oriented neighborhoods. According to the Long Island Index, a poll of more than 1,100 people conducted by the Stony Brook University Center for Survey Research, 38 percent of residents could imagine themselves living in a downtown multifamily unit; 56 percent would support state incentives to encourage higher housing density.

Isn’t that a turn of the tides! For decades, Long Island was the ultimate New York suburb, luring families to the “dark side” of sprawl with its picket fences and carpools. Now, residents are eager for a change—and the area has the capacity to deliver. The Index predicts that the region will need to create between 7,000 and 8,000 new housing units annually simply to accommodate population growth and replace aging homes. Thankfully, the report estimates that Long Island downtowns can accommodate 100,000 new units in the next 25 years.

Kudos to the researchers for asking relevant questions about the issues that so many municipalities in this country fail to consider. The reality is that housing, density, and fighting urban sprawl will be one of the greatest challenges the United States will face in the next century. More and more citizens want to live responsibly, and multifamily housing is often their first stop. It seems to me that Long Island is a microcosm reflecting the shifting sentiments of the nation. And I think that’s worthy of recognition.


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MULTIFAMILY INDUSTRY NEWS

Quick & Quirky

MULTIFAMILY EXECUTIVE Senior Editor Chris Wood rounds up interesting and intriguing news tidbits. This week: swinging clubs, slinging mud, and the delicate art of the sledgehammer.

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MFE Recaps News From the NMHC Annual Meeting

At the National Multi Housing Council’s 2008 Annual Meeting and Apartment Strategies Conference, all eyes were on the future. MFE reporters cover the announcements and strategies shared at the event.

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Post Properties Receives Buyout Bid

Shares of apartment owner Post Properties surged 18% after the company said it received a buyout bid from its former chairman and a Canadian pension fund.

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WEB EXCLUSIVE: MFE Executive Feedback

Multifamily Executives tackle the question on everyone's mind: Will the condo market turn around in 2008?

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WEB EXCLUSIVE: Gotham Organization

Q&A with David Pickett, President of the Gotham Organization based in New York City.

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MFE FEATURE ARTICLES

On The Map

MULTIFAMILY EXECUTIVE highlights 10 regional superstars and shows why these firms are among the best in their class.

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Chasing Destiny

Facing soft markets at home, a growing number of U.S. multifamily developers and investors find fresh opportunities on foreign shores.

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Sponsored Webinar: The Look for Less

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