Welcome to today’s real estate news roundup! We have some exciting updates from around the country that highlight the latest developments and trends in the housing market. In Pleasanton, California, the Planning Commission has approved a new gated senior housing project near Foothill High School, set to provide a blend of single-family and affordable homes for seniors. Indiana is addressing the housing supply shortage by allocating $51 million in state funding to support the construction of 2,400 homes across various communities. The American Community Survey reveals fascinating insights into home ownership rates, emphasizing the impact of residential building density on ownership preferences. The Cherokee Nation celebrates the opening of its newest housing subdivision in Muskogee, Oklahoma, providing affordable homes and improving living conditions for its citizens. Lastly, Oklahoma City is experiencing a rise in the popularity of “horizontal apartments,” offering the benefits of apartment living with the appeal of private outdoor spaces. Explore these stories and more to stay informed about the latest happenings in the real estate world!
Planning Commission OK’s new gated senior housing project on Foothill Road – Pleasanton Weekly
The Pleasanton Planning Commission recently greenlit a transformative project that will see a 46-acre plot near Foothill High School become a gated community for seniors. This ambitious development aims to construct up to 110 residential homes, pending City Council’s final nod. The project, praised for its appropriateness and low impact on the neighborhood density, still has several hurdles to clear, including applications to third-party agencies and annexation procedures with the Alameda County Local Agency Formation Commission. Despite these challenges, the developers are optimistic, targeting groundbreaking in 2026. The planned community promises a blend of single-family and affordable senior homes, extensive site improvements, and amenities tailored to senior living, all while maintaining privacy and aesthetic harmony with the surrounding areas.
Read more about this exciting development here!
Indiana awards communities $51 million in housing infrastructure boost | News | wthitv.com
In a significant move to address the housing supply shortage, Indiana has allocated $51 million in state funding through the Residential Housing Infrastructure Assistance Program. This initiative, aimed at supporting the construction of 2,400 homes across various Hoosier communities, marks the program’s first round of awards since its establishment by lawmakers last year. The funding is set to enhance public infrastructure, including sidewalks, sewers, and water systems, facilitating residential development projects. Among the beneficiaries is the small town of Jamestown, which plans to expand its sewer system to accommodate a new 199-house development. This strategic investment underscores Indiana’s commitment to fostering community growth, improving local infrastructure, and enabling residents to live closer to their workplaces. With a focus on rural communities, this program represents a pivotal step towards revitalizing Indiana’s housing market and ensuring the availability of affordable homes.
Learn more about Indiana’s housing infrastructure boost
Home Ownership by Type of Residential Building | Newgeography.com
The latest findings from the American Community Survey for 2022 reveal a fascinating landscape of home ownership in the United States, particularly highlighting the impact of residential building density on ownership rates. Detached houses lead with an 86.1% ownership rate, showcasing the strong preference for single-family homes. Attached housing and multi-family units show significantly lower ownership rates, with the latter’s ownership dipping as low as 12.6% in denser buildings. This data not only sheds light on the current state of home ownership but also underscores the ongoing challenges and preferences that shape the American Dream of owning a home. Major metropolitan areas exhibit varied ownership rates, with Midwest cities like Grand Rapids and Detroit showing surprisingly high figures, while coastal cities like Los Angeles and New York lag behind. The report suggests that despite the push for densification as a solution to housing affordability, higher density living arrangements like condos and apartments may not be the preferred or most accessible option for many Americans. This comprehensive analysis offers a deep dive into how where we live affects our ability to own our homes, reflecting broader trends in urban planning, economic mobility, and the quest for the American Dream.
Learn more about Home Ownership Trends
Cherokee Nation celebrates opening of new housing subdivision in Muskogee | News | fox23.com
The Cherokee Nation has marked a significant milestone with the opening of the Warrior Addition, its newest housing subdivision in Muskogee, Oklahoma. This development is the first to be completed under the Tribe’s historic Housing, Jobs and Sustainable Communities Act. On a day filled with joy and new beginnings, families moved into their new homes, expressing immense gratitude for the opportunity to improve their living conditions. Among them, Cecilia Barnett highlighted the substantial difference in her quality of life, moving from a $1,200 rental in Tulsa to a more affordable $600 home, utilities included, in Muskogee. Cherokee Nation Principal Chief Chuck Hoskin Jr. emphasized the project’s role in addressing the housing crisis in northeast Oklahoma, funded by the American Rescue Plan Act at a cost of $120 million. The initiative not only provides immediate relief to Cherokee citizens but also lays a foundation for future generations.
Read more about this heartwarming story here.
Move over: Oklahoma City is attracting more ‘horizontal apartments’. Here’s where
Oklahoma City is witnessing a surge in the popularity of ‘horizontal apartments’—a trend that’s reshaping the rental market. These single-family homes, built as rentals, offer the perks of apartment living, including on-site management and maintenance, but with the added benefits of private outdoor spaces and minimal shared walls. Originating from the housing crisis of the late 2000s, this concept has found fertile ground in OKC, following its success in cities like Phoenix and Dallas-Fort Worth. Developments such as Magnolia Row and Crimson Lake Estates are leading the charge, offering residents high-end amenities, walkable neighborhoods, and the appeal of home ownership without the associated costs. With Oklahoma City’s strong job market and educational institutions driving demand, these ‘horizontal apartments’ represent a significant shift towards innovative living solutions in the region.