How do you define if housing is ‘affordable’? If there isn’t enough market rate housing, how can you even start a discussion about affordable housing? At what point do we decide there have been enough conversations and it is time for action? There are some who are taking action. This week Justin talks with Chris Todd – Business & Development Director for Henderson County, NC – about The Apple Ridge Project.

The Apple Ridge Project is made up of 60 multi-family housing units and 20 single family units. Henderson County approved using some American Rescue Plan (ARP) funds to help with infrastructure costs. Specifically, the funds will be used toward the water & sewer extension requirements that are necessary to complete the project.

The Apple Ridge Project, which is being spearheaded by The Housing Assistance Corporation, is proof that real partnership can exist with the common goal of providing more affordable housing units in the community.

References 

Today's Real Talk: https://www.TodaysRealTalk.com/

Info@TodaysRealTalk.com 

Apple Ridge Project: https://www.hendersonvillenc.gov/sites/default/files/uploads/calendar-files/apple_ridge_-_overall_development_plan_1-20-22.pdf

Henderson County: https://www.hendersoncountync.gov/

Housing Assistance Corporation: https://www.housing-assistance.com/

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Chapters

00:00 - 06:17: Talking w/ Justin

06:17 - 08:29: Intro w/ Chris Todd

08:29 - 09:55: Apple Ridge Project Overview

09:55 - 11:35: The Apple Ridge Team

11:35 - 13:24: The Go-Forward Plan

13:24 - 14:07: Partnering With Others

14:07 - 15:59: Criteria for Approval

15:59 - 19:39: Population Shift During COVID

19:39 - 22:55: Defining Affordable

22:55 - 25:24: Size of the Apple Ridge Project

25:24 - 26:23: Relationships w/ Other Municipalities

26:23 - 31:20: Long Term Vision

31:20 - 34:48: Internet Access in Western NC

34:48 - 37:03: Public Feedback

37:03 - 38:50: Support At All Levels

38:50 - 40:17: Take Aways for Success 

40:17 - 41:11: Outro w/ Chris Todd

41:11 - 44:15: Managing Projects

44:15 - 48:19: Why isn't there more affordable housing options?

48:19 - 53:54: My neighbor isn't letting me use my driveway anymore. What are my options?

53:54 - 59:30: If you could pick one sector of real estate to invest in, what would it be?

59:30 - 01:01:24: Final Thoughts w/ Justin

Developing Properties is a process. Land acquisition, zoning entitlements, engineering, architecture, leasing; just a few of the many steps. Bigger than the process is the potential affect developing has on communities. How do you know if a project will be positive or negative?

This week Justin sits down with Vinny Giglio to talk about the development process. Vinny, a military veteran now developing some properties in the North Charlotte/Iredell County area, describes what goes into his team’s thought process when they find a potential development site. 

Not all the topics are easy. Affordable Housing, Water & Sewer Capacity, Parking Requirements, and much more. If you are interested in how developers think, this show is for you.

References 

Today's Real Talk: https://www.TodaysRealTalk.com/

Info@TodaysRealTalk.com 

MV2 Investments: https://www.mv2invest.com/ 

Chapters

00:00 - 04:05:Talking w/ Justin

04:05 - 06:30: Intro w/ Vinny 

06:30 - 14:00: Vinny's Why 

14:00 - 14:49: Justin Sharing his Why 

14:49 - 20:50: Getting Started in Real Estate 

20:50 - 23:33: Buying Commercial Real Estate 

23:33 - 27:48: Falling into Development 

27:48 - 31:22: Development Projects 

31:22 - 34:00: What is good for a community? 

34:00 - 37:00: Transportation 

37:00 - 40:47: Water & Sewer Capacity 

40:47 - 41:27: Local Drives Markets 

41:27 - 47:38: Affordable Housing 

47:38 - 49:26: Managing Development Sites 

49:26 - 50:35: The Multifamily Sector 

50:35 - 52:49: Material Costs Through COVID 

52:49 - 54:44: Risk in Development 

54:44 - 58:00: The Struggle is Real 

58:00 -  01:01:10: The Future of North Carolina 

01:01:10 - 01:02:53: How Do We Bring in More Jobs 

01:02:53 - 01:05:37: Outro w/ Vinny 

01:05:37 - 01:15:45: Q&A Session 

01:15:45 - 01:16:20 - Final Thoughts w/ Justin 

Energy Efficiency is not just about spending money. The Deficit Reduction Act and the Inflation Reduction act (along with many other pieces of legislation throughout the years) carve out specific tax benefits when you invest in green energy and updating to modern building standards. Have you heard of 179D and 45L tax incentives? 

This week Dawn Polin, the Real Estate Incentives CPA, joins Justin to discuss the current landscape for energy efficiency tax incentives. Whether it be ground up development or a value-add project, there are potential tax benefits you should consider when designing your project.

Mechanical SEER ratings. Energy Efficient windows. Thermal. Solar. So many different components to consider when you are developing a new property or improving an existing property. How do you know whether making such an investment has any financial benefit? Listening to Today's Real Talk will give you a leg up.

References
Dawn Polin: https://cretaxplanning.com/

Deficit Reduction Act: https://www.congress.gov/bill/109th-congress/senate-bill/1932

Inflation Reduction Act: https://www.congress.gov/bill/117th-congress/house-bill/5376/text

IRS 179D Publication: https://www.irs.gov/pub/irs-utl/irc-179d-energy-efficient.pdf

Incentifind Database for Incentive Reporting: https://incentifind.com/welcome?affiliate=6666bbe3-95c3-49d9-a28e-5969cd6ca85b

Chapters
00:00 - 03:55: Talking w/ Justin
03:55 - 08:23: Intro w/ Dawn Polin
08:23 - 13:20: Cost Segregation Overview
13:20 - 14:51: Introduction to 179D & 45L
14:51 - 19:24: What is 179D?
19:24 - 21:11: History of 179D
21:11 - 29:44: How to use 179D
29:44 - 34:48: Necessity of Planning
34:48 - 36:57: The Building Envelope
36:57 - 41:08: History & Use of 45L
41:08 - 43:24: Cautions of Seeking 45L 
43:24 - 48:17: Who is using 179D & 45L incentives?
48:17 - 50:38: Using Tax Credits & Incentives
50:38 - 55:18: Future of North Carolina Incentives
55:18 - 56:30: Wrap Up w/ Dawn
56:30 - 01:03:08: Q&A 1 - Are there any good courses you would recommend to help w/ learning real estate?
01:03:08 - 01:08:22: Q&A 2 - What do I do if my contractor won't finish the job?
01:08:22 - 01:12:41: Q&A 3 - What sector of real estate do you think will be most volatile in the short term?
01:12:41 - 01:13:59: Final Thoughts w/ Justin