AGP Executive Report

U.S. Housing & Infrastructure: A Lee County, Florida board approved a $2.9M contract to build a 6-foot sidewalk along Hancock Bridge Parkway (U.S. 41 to Del Prado Blvd), with work starting in August and lasting about 14 months—another local push to improve walkability and safety. Public Safety & Streets: Smart Growth America reports pedestrian deaths are still worsening in America’s biggest cities, with 76 of 101 metro areas seeing higher fatality rates from 2020-2024 vs. 2015-2019, and warns safety funding is being deprioritized. Construction & Permitting: Kansas regulators approved part of Evergy’s 133-mile transmission line but blocked a planned crossing into the Flint Hills near U.S. Highway 77, forcing a rethink of that segment. Real Estate Fraud: Federal prosecutors charged a California man tied to Cantor Group V LLC with allegedly forging real estate loan documents to defraud a bank out of nearly $100M. Housing Demand & Affordability: University of Utah students say on-campus living is appealing, but affordability is the sticking point as the school expands dorms and meal plans. Immigration & Labor Pressure: A Massachusetts report warns the state needs at least 60,000 new immigrants annually through 2030 to prevent labor shortages—calling out health care, higher education, and construction. Disaster Readiness: A watchdog report says FEMA is “measurably less prepared” than in recent memory, citing leadership vacancies and weaker coordination.

Housing Market Momentum: Existing-home sales rose 3.2% in May, hitting the strongest pace since December as affordability improved and mortgage rates stayed below last year, according to NAR. Affordability Reality Check: A new analysis argues flat home prices don’t mean the shortage is over—expensive capital is suppressing demand even as inventory and transactions move. Insurance Pressure: A Senate report spotlights the home insurance crisis, saying premiums have surged and extreme weather is driving insurers to raise rates or pull back coverage. Policy for First Responders: Senators Baldwin and Cramer introduced the Volunteer First Responder Housing Act to help volunteer firefighters and first responders afford homes and qualify for federal assistance. Data Center Backlash: Erin Brockovich expanded a national map tracking community concerns about data centers, with worries focused on water, power demand, and local infrastructure. Industrial Growth: EQT Real Estate bought a 2.4M sq. ft. Southeast logistics portfolio across Savannah, Jacksonville, and Lakeland. Construction & Infrastructure: Kentucky’s U.S. 68 Exit 16 roundabout project will close ramps for months, and local businesses are bracing for traffic impacts. Local Planning & Grants: Burlington, NC scheduled public meetings on HUD CDBG and HOME funding priorities for 2026-27. PFAS Watch: Indiana advocates warn EPA proposals to roll back or delay PFAS drinking-water rules could weaken protections.

Infrastructure Funding: Greeley-Weld County Airport won $3.5M for new taxiways, with local and FAA grants supporting hangar work and ramp upgrades. Bridge & Mobility Disruptions: The Iowa 9/Wisconsin 82 Mississippi River bridge center-span install was pushed to Friday, June 12, triggering a one-day ferry closure and river traffic restrictions. Housing & Safety Policy: Iowa’s new electrical-safety code changes loosen requirements for some AFCIs/GFCIs, raising fire and electrocution concerns even as backers cite affordability. Local Housing Pressure: Danville-area agencies are rallying the public after evictions from Danville Suites, seeking shelter space and volunteer help. Data Center Backlash: Hill County, Texas lifted its data-center moratorium but added a developer checklist on water, traffic, noise, and public notice. Affordability & Market Signals: U.S. existing home sales rose 3.2% in May, while a new report found children’s well-being fell in 29 states. Politics Shaping Real Estate: California’s governor race advanced to a Hilton-Becerra general election, with real estate donors backing Hilton. Energy & Permitting: A House hearing focused on nuclear licensing reform to speed approvals and reduce schedule risk.

Housing Market Pulse: Existing home sales jumped 3.2% in May to a 4.17 million annual pace, the fastest since December, even as mortgage rates stay elevated; median prices hit an all-time-high May level of $429,300. Insurance & Risk: Florida’s community stress is tied to home insurance strain, while a new NestSTEPS survey says workers want employer help with homeownership—yet only 1% of employers offer it. Local Homelessness: New Yorkers entering shelters rose 27% under the Adams administration, with advocates pointing to evictions and unlivable housing. Energy & Grid: NYISO warns New York’s electricity supply has shrunk since 2019, raising winter reliability risks as demand grows. Infrastructure & Mobility: The Gordie Howe Bridge is set to open to traffic next week, and Kansas’ first express toll lanes on U.S. 69 show slow but steady use. Construction Jobs & Skills: Meta is funding a skilled trades training program for data center work, aiming to ease labor shortages.

Skilled Trades + AI Infrastructure: Meta is rolling out a $115M America’s Workforce Academy with free training and job guarantees for skilled trades tied to AI data center construction, launching in Louisiana, Ohio, Indiana, and Texas. Housing + Homelessness: Seattle is opening 50 new temporary homeless shelter units next Tuesday—well below the 500 promised for the World Cup—while aiming for 4,000 units by the end of the term. Local Housing Supply: Eau Claire is considering “strategic use of public land” to spur new housing, with an open house set for June 16. Data Center Backlash: Lee County officials in Illinois say there’s no data center planned for a 387-acre property near Nelson, after protests and a listing sparked fears of farmland loss. Construction + Safety: OSHA expanded its heat enforcement program, with Dallas–Fort Worth among the most targeted heat-exposed industries. Infrastructure Funding: West Virginia approved about $3.3M for water projects meant to support public health and future housing and business growth. Public Safety at Big Events: Nebraska officials warned of possible human trafficking risks tied to Omaha’s College World Series crowds.

Housing & Local Policy: Northern Virginia zoning reform talks focused on speeding up approvals and easing bottlenecks to unlock more homes, with panelists arguing small rule changes can still move supply. Mortgage & Affordability: Americans’ average monthly mortgage payment topped $2,000 for the first time, while ICE data showed home equity withdrawals hitting the highest first-quarter level since 2021—signals affordability pressure and cash-out strain. Data Centers & Power: A Virginia-focused study warns data centers can reshape local electricity use and community impacts as the sector’s growth accelerates; meanwhile, Amazon and Corning announced a multi-billion-dollar fiber supply expansion in North Carolina to feed AI and data center demand. Smart Home for Rentals: SmartRent launched a “Climate Protection Mode” on its thermostats to reduce water- and moisture-related property damage risk for rental owners. Construction/Development Deals: SolaREIT donated land for a new San Diego County fire station tied to its Jacumba solar project—renewables plus public infrastructure. Markets & Materials: New market reports project continued growth in polyurethane foam and pyrethroids, both tied to construction and housing demand. National Politics Touching Real Estate: San Francisco’s housing views head to the November ballot after a primary that split pro-growth and anti-upzoning candidates.

Housing & Homelessness: A Navy veteran who slept in his car while earning a master’s at the University of Guam says homelessness and distance didn’t stop him—an up-close reminder that housing instability can derail education even when people keep pushing. Public Safety & Policy: A bipartisan bill would require the DOJ to study whether animal cruelty can predict future domestic violence, pairing a federal review with $2 million in early-intervention grants. Local Governance & Housing Costs: Redistricting fights are moving into statehouses, with knock-on effects for housing rules, road repairs, and social programs. Real Estate Finance: The VA reported 2,312 home loans in Wisconsin totaling $765.6M in Q1, highlighting continued veteran mortgage activity. Construction & Development: New York filings point to converting a large downtown office building into residential apartments, adding to the ongoing office-to-housing trend. Data Centers & Community Backlash: Public opposition to data centers is spiking fast, driven by water and displacement concerns. Labor & Affordability: A major push to expand skilled trades training targets a shortage blamed for delayed construction and higher costs. Mortgage/Intelligence Politics: Lawmakers are warning that a housing finance regulator’s intelligence role could complicate surveillance law renewals.

US Housing Finance: Lakota Funds, a Native CDFI, is expanding access to USDA Rural Development home loans on the Pine Ridge Reservation after receiving $764,000 to support working capital for Native borrowers. Immigration & Labor Impact: A report warns California’s economy can’t absorb major losses of undocumented workers, arguing deportation pressure would hit output and industries that rely on them. World Cup & Local Real Estate: Civil advocates say the 2026 World Cup’s massive footprint across 11 US cities could amplify rights risks for visitors and workers, while Bay Area early data shows short-term rental demand rising but not matching the Super Bowl frenzy. Renters’ Costs: San Francisco is pushing a “No Hidden Rent” approach to force clearer pricing and curb hidden fees that can undermine rent caps. Construction & Infrastructure: UC San Diego is unveiling its $453M Triton Center, a major campus redevelopment that adds new public-facing space after years of construction. Cross-Border Finance: FinCEN is urging banks to watch for payroll fraud schemes tied to illegal employment, including identity theft that can drain tax revenue.

Housing Redevelopment: The University of Minnesota is set to sell its Les Bolstad Golf Course for $30.5 million to Rachel Development, with plans for a mixed-use residential project pending Board of Regents approval. Local Governance: San Diego Mayor Todd Gloria will lead the U.S. Conference of Mayors, putting affordable housing and cost-cutting at the top of the agenda. Construction & Infrastructure: A 120-day roundabout project will close Lex-Springmill/Home roads in Richland County, Ohio starting June 15, with grant funding covering most costs. Data Centers & Power Demand: LG U+ is pitching its Paju AI data center in South Korea as part of a broader “AI Factory Operator” push, underscoring how power and buildout timelines drive real estate and infrastructure decisions. Policy & Security: Senators warn the surveillance tool under FISA Section 702 could lapse, raising uncertainty for intelligence operations that can affect federal planning. Home Safety: A guide explains what to do if you spot a sinkhole in your driveway, including when to call professionals.

Labor & Housing Costs: SoFi Stadium workers (UNITE HERE Local 11) voted to authorize a strike days before the World Cup, raising pressure over pay and ICE’s role at the venue. Sports Real Estate Development: Phoenix’s historic radio building at 840 N. Central Ave is targeted for demolition to make way for the $125M Atari Hotel, with construction potentially starting late 2026. Local Politics & Governance: San Jose Mayor Matt Mahan’s run for governor is already sparking fallout over whether he’ll fully commit to city priorities. Urban Growth & Affordability: A new TD Bank survey says 74% of Americans would consider a proposed 50-year mortgage, even as experts warn it could cost borrowers far more. Green Building & Stadiums: FIFA World Cup venues are racking up LEED certifications, with solar, water savings, and waste-reduction upgrades already underway. Infrastructure & Safety: Wisconsin plans overnight I-41 closures for interchange work next week, with detours in place. Land Use & Preservation: Phoenix’s Atari project also faces historic preservation steps before permits are finalized. Wildlife Connectivity: California’s first wildlife overcrossing on SR-97 is seeing its first mule deer crossings as the structure nears completion. Property Taxes: LendingTree reports property taxes rose in every major U.S. metro between 2023 and 2024, with the biggest percentage jumps in Tampa, Denver, and Miami.

Housing Affordability: A new affordability ranking flags several U.S. cities—San Jose, Los Angeles and Honolulu—among the least affordable, with price-to-income ratios still far above historical norms. Local Elections: Utah County Republicans head to a June 23 primary with two commissioner seats at stake, as candidates pitch budget restraint and tax control amid fast growth and housing pressure. California Politics: Xavier Becerra advanced to California’s governor general election, centering his campaign on affordability, housing costs and energy. NYC Grocery Access: New York City is moving ahead with a municipal grocery-store pilot, using public sites and private operators to cut staple prices, with stores planned across all five boroughs. Real Estate Fraud: A Willingboro, N.J., council member and former mayor was sentenced to federal prison for mortgage fraud tied to a fraudulent short sale. Construction & Infrastructure: The Navy says Naval Base Kitsap could be upgraded to host up to eight Columbia-class ballistic missile submarines, with a public comment period closing June 25. Court Watch: The Justice Department argued courts can’t stop Trump’s White House ballroom project, pushing the fight to an appeals court. Veteran Housing: A Georgia nonprofit is seeking approval for an 84-home tiny community for veterans in Milledgeville to address homelessness. Market Basics: A guide breaks down how housing inventory is measured using “months of supply,” helping buyers and sellers read supply-demand shifts.

Housing & Finance: Freddie Mac says the average 30-year fixed mortgage rate slipped to 6.48% from 6.53%, easing pressure on homebuyers after months of higher borrowing costs. Jobs & Demand: The U.S. added 172,000 nonfarm jobs in May and kept unemployment at 4.3%, a sign hiring is stabilizing even as costs stay elevated—good news for household formation and move-up demand. Mortgage/Banking Compliance: Treasury and federal regulators warned banks to flag identity theft, payroll fraud, and other illicit activity tied to people not authorized to work, urging extra scrutiny of ITIN-linked accounts. Local Construction & Infrastructure: Iowa and Wisconsin will temporarily shut a Mississippi River ferry June 11-12 for bridge work, with the new crossing targeted to open in 2027. Multifamily Deals: Providence Real Estate bought The Preserve at Tampa Palms, a 378-unit community in Tampa, planning value-add upgrades. Hospitality Real Estate: Henderson Park and Pyramid Global Hospitality acquired the 579-key Hyatt Regency Grand Reserve in Puerto Rico for $190M, eyeing capital improvements. Policy/Enforcement: The Senate passed a roughly $70B immigration enforcement funding bill, raising uncertainty for labor-heavy industries that already struggle to hire.

Rental Data & Fees: The FTC is flagging how rental screening data should be disposed of safely, while renters report paying non-refundable application fees and getting screening reports that don’t travel with them—adding cost and risk to the already tight search for housing. Housing Security & Safety: Federal investigators are probing Atlanta’s MARTA after back-to-back stabbings, focusing on security spending and passenger safety protocols. Local Housing Policy: Kennewick, Wash. won House funding for road and community projects, while New York’s Assembly District 32 race is turning housing affordability into the top campaign theme. Homelessness Rules: Lafayette, La. is unlikely to criminalize homeless encampments as state law heads to the governor, shifting toward service-based approaches. Infrastructure & Construction: Road conditions remain a national concern as lawmakers weigh extending IIJA-era road funding, and NASA is awarding up to $300M for Johnson Space Center modernization. Tech, Power & Real Estate Pressure: Data center growth and AI demand are colliding with power and grid constraints, while investors and policymakers eye how to manage the buildout. Foreign Influence & Data Centers: House leaders are asking for details on foreign efforts to slow U.S. AI progress and block data center infrastructure.

Housing Market Signals: Redfin reports 5.8% of U.S. listings were delisted in April—matching the highest share since March 2020—showing more sellers pulling homes when offers don’t meet expectations, with California, Texas and Florida hit hardest. Local Real Estate & Infrastructure: IDOT says lane closures will start June 8 on Illinois 255 between Seminary Road and the I-255/U.S. 67 split for pavement resurfacing, expected to run through late October. Multifamily Investment: Tishman Speyer secured a first close of $300 million for its Korea Living Venture, backed by European pension investors, targeting Seoul-area rental housing and repositioning opportunities. Rural Housing Support: USDA Rural Development kicked off National Homeownership Month, highlighting programs aimed at helping first-time buyers in rural areas. Energy & Land Use Pressure: Trump is expected to announce nearly $700 million to support coal plants and a new export terminal—an update that could affect power, jobs, and local development planning. Construction Labor Tension: Hilton’s Embassy Suites Pioneer Square in Seattle faces a June 5 strike vote as union workers push for higher wages and protections.

U.S. Housing Market: Redfin says sellers are pulling listings at near-record rates—5.8% delisted in April, the highest since early 2020—pointing to higher mortgage rates, rising inventory, and price standoffs. Affordable Housing: Rutherfordton, N.C. opened a new workforce homeownership option at Creekwood Meadows (178 Upper Gateway Circle), with USDA Section 502 and down-payment help for qualifying buyers. Construction & Environment: A dredging project near Port Everglades is headed to court as environmental groups allege it could harm endangered corals by creating sediment plumes. Local Development: El Paso’s Housing Authority is building a new apartment complex at 406 Wallenberg Drive (HOME’s Chair Manor II). Policy & Housing Finance: Democrats and Republicans are questioning President Trump’s acting DNI pick, Bill Pulte, a housing regulator with no intelligence background. Public Health & Community: Colorado Springs reported a January drop in homelessness, while vaccine “Summer Health Hubs” are planned in Fort Wayne for June and July.

Housing Affordability: A new study says nearly 7 million German tenant households are overburdened by housing costs, with the pressure worst for low-income renters. Hotel Labor: Hotel workers in Seattle are voting on strike authorization after contract talks stall, with World Cup crowds raising the stakes for staffing and wages. U.S. Housing Policy Meets National Security: President Trump named FHFA head Bill Pulte as acting national intelligence director, triggering bipartisan backlash over his lack of national security experience and raising concerns about politicizing federal power. Construction & Local Growth: Nevada builders say sentiment is “cautiously constructive” in Carson City, but higher costs and longer timelines are slowing projects. Road Safety Before Expansion: An East Texas mother urged officials to fix dangerous Toll 49 segments before approving future expansion after her daughter’s fatal crash. Real Estate Dealmaking: A gated Lower Bel Air estate is set to sell online via Concierge Auctions for $16.5 million. Data Center Backlash: Erin Brockovich renewed pressure on data centers for full transparency about water and power use. Energy & Markets: Oil prices climbed as U.S.-Iran tensions tested a ceasefire, while stocks stayed near records.