New Project, Market Update, On-Site Video
May 22, 2020In this post:
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Triplexes in AZ for 500k
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Expiring FIG Owner Tax Benefits
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Top 10: Cities Most/Least Likely to Recover from Covid-19
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Investment Options in UT, TX, and ID.
Multifamily Market in the Phoenix Valley
We love the Arizona market. It continues to be full of positive economic news as the job market continues to diversify across multiple sectors. Last week it was announced that Taiwan Manufacturing Semiconductor Co will start construction on a 1.6 billion dollar facility in Phoenix. Construction is expected to start in 2021.
This is just one of the reasons we're bullish on our upcoming project, The Village on Greenway in El Mirage, AZ. The job creation in Maricopa County has been robust and will likely continue to create a demand for affordable housing. We're taking non-binding reservations in this project now and you can view the reservation map, proforma, etc here.
Construction on the first phase will begin in September of 2020. We have stacked flat style triplexes available in the first and second phases at $499,900!
And to make it easy to learn about, you can watch the project breakdown we just recorded about the Village on Greenway. (23 minutes long). It will give you a solid perspective on the area, process, and numbers.
Sherida Zenger also visited the site this last week and filmed a quick video so you can see our location (see video above).
Expiring Tax Benefits
Recent tax legislation extended the Energy Efficient Home Federal Tax Credit of $2,000 per unit available to FIG owners of units constructed between 2015-2020. If you weren't able to catch our recent webinar with Mark Barbour of Specialty Tax Advisors, you need to watch it! If you have FIG units completed during this period and haven't talked with Mark yet, we recommend you reach out! He can be contacted at [email protected] or at 310-383-1302.
Cities Recovering From the Pandemic
Been thinking about how your current or future investments will fare coming out of the COVID-19 pandemic? Advisory.com recently ranked the 10 best and worst cities to recover from the current pandemic.
In the study that was done, the top 100 metro areas were analyzed to compare population density data (for 2018 and 2019) against workforce quality and opportunity for educational attainment.
Good news for Utah and Idaho!
Top 10 Cities
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Boise, Idaho;
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Denver;
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Durham, North Carolina;
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Madison, Wisconsin;
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Provo, Utah;
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Raleigh, North Carolina;
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Salt Lake City;
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San Jose, California;
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Tucson, Arizona; and
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Washington, D.C.
Worst 10 Cities
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Detroit;
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Honolulu, Hawaii;
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Los Angeles;
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McAllen, Texas;
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Miami;
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New Haven, Connecticut;
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New York City;
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Philadelphia;
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Stockton, California; and
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Tampa, Florida.
Fourplexes for Sale in Utah, Texas, Idaho?
We have narrowed down on fourplex availability over the last few weeks. But we have options in UT, TX, and ID that start construction in the next 30-180 days. We're happy to discuss the timing, financing, property management, or any other questions you may have. And you can always get a snapshot of what's available by heading to our now selling page.
Finally, if you've been waiting for that "better" deal to surface because of economic volatility... we may be able to help there too!
Sincerely,
The FIG Team
Steve Olson, Chase Leavitt, and Jon Metcalf
