AGP Executive Report

Disaster Response Drills: The U.S. and Sri Lanka kicked off “Atlas Angel II,” a five-day joint exercise training C-130 maintenance, urban search and rescue, incident command, construction engineering, landslide response, and CBRNE hazard readiness. Local Housing & Land Use: Chillicothe, Ohio moved to pause data center development with a 60-day moratorium after residents raised concerns—another reminder that big infrastructure plans can hit local resistance fast. Senior Housing Dealmaking: LTC Properties is pressing deeper into senior living, with investors chasing growth as new construction stays low and demand rises. Native Hawaiian Housing Access: Sen. Brian Schatz met local leaders to expand housing options for Native Hawaiians amid ongoing affordability barriers. Energy Resilience for Real Estate: The U.S. Army is advancing nuclear microreactors at five bases to stabilize power—an effort that could ripple into how communities plan for critical facilities. Market Risk Watch: South Korea’s government is preparing safeguards for a potential home-price drop, including bulk purchases for public housing. Defense-Industrial Push: Arkansas leaders are pitching the state as a defense production hub, citing major missile and rocket-motor investments. Data Center Power Pressure: Nvidia CEO Jensen Huang backed data center expansion as communities debate power, water, taxes, and grid strain.

Housing Starts Slip: U.S. housing starts fell 12.4% in July to a 1.24 million annual pace, with single-family down 9.9% and multifamily down 16.8%, as builders cite costs, labor shortages, and financing pressure. Affordability Pressure: A study on Los Angeles/Orange County finds homes stay “unaffordable” even with a hypothetical zero-percent mortgage, underscoring how prices and local incomes still don’t pencil out. Local Revitalization: Cleveland is using a “site-ready land” fund to turn unused property into jobs and housing, aiming to keep workers in the city by pairing development with income growth. Foreclosure Watch: Florida remains a foreclosure hotspot, ranking near the top nationally for new foreclosure starts, with especially high rates in places like Punta Gorda and pressure continuing in Miami-Dade auctions. Public Housing Credit: Santa Barbara’s Housing Authority earned an A+ issuer credit rating from S&P, citing strong management, demand, and liquidity. Construction & Land Use: South Dakota DOT is seeking public input on a Highway 385 project affecting the Strawberry Hill recreation area, including a federal Section 4(f) “de minimis” impact finding. AI Data Center Backlash: A new poll says most Americans strongly oppose data center construction nearby, fueling the broader fight over energy and water impacts.

Wildfire & Housing Crunch: A News21 report spotlights wildland firefighters living in vans because pay and housing don’t match the job’s demands, adding pressure to an already strained public-lands workforce. Immigration Enforcement Hits Homebuilding: Another report says ICE raids are scaring workers and slowing reconstruction in Altadena after the Eaton wildfires, with crews checking for agents before showing up. Legal Access Gap: Alabama’s “legal deserts” leave thousands without attorneys, with nearly two-thirds of counties falling below one lawyer per 1,000 people. Affordable Housing Moves: Indiana REALTORS’ groups secured $500,000 for storm-impacted homeowners and renters, offering grants up to $1,000. Construction & Infrastructure: Vermont published its weeklong highway work plan, including I-89 paving and bridge rehabilitation that will affect traffic. Market/Policy Watch: A separate housing affordability gauge worsened for the first time since 2023, while Massachusetts lawmakers moved toward housing goals. National Parks Development Fight: Advocates say the U.S. government is pursuing a secretive Yosemite land deal tied to a private developer, raising alarms for conservation.

Housing Affordability: A key U.S. affordability gauge worsened for the first time in nearly three years as higher borrowing costs took a bigger bite out of new-home buyers’ incomes. Home Sales & Buyer Behavior: More U.S. homebuyers are getting “cold feet,” with cancellations rising to the highest level in nearly three years, as buyers gain leverage in a more balanced market. Construction Costs: New Census-backed budgeting shows how wildly addition and build costs vary by region—Northeast pricing can run far above the South, making one national number misleading. Local Housing Supply: Massachusetts lawmakers push toward housing goals, while Montana’s Miles City starts a long-awaited 30-unit affordable project funded by state tax credits. Real Estate Finance: Massachusetts AG raises antitrust concerns in a real estate transaction, requiring divestitures—another sign regulators are tightening scrutiny. Infrastructure & Growth: Virginia and other areas keep rolling out road and safety projects, while Michigan weighs major solar to power AI and manufacturing growth. Coastal Resilience: San Diego’s Imperial Beach and Coronado face Super El Niño flood and sewage risks, even as local infrastructure upgrades aim to blunt impacts. Border Wall & Land Use: Arizona border wall construction begins over Native objections, adding another flashpoint for land and permitting battles.

Housing Affordability: Spokane renters saw the housing wage gap flip in their favor for the first time since 2005, as income rose faster than rents—though an economist warns purchasing power still isn’t improving for many low-income workers. Mortgage Distress: ATTOM reports foreclosure filings rose 10% year over year in July, with Texas and Florida leading foreclosure starts. Market Watch: Redfin says new home listings are up nationwide while pending sales fall, pointing to a stronger buyer’s market in many areas heading into post–Labor Day. Local Development: Eau Claire’s Plan Commission will review a major subdivision plan that could add 130 lots in the Jeffers Park area, with more phases including tiny homes and senior living. Public Housing Performance: Manhattan Housing Authority hit its highest PHAS score in more than a decade, regaining Standard Performer status after years of trouble. Disaster Recovery & Infrastructure: Guam’s “Fix in Six” recovery programs set Sept. 30 deadlines for housing and infrastructure help after Typhoon Mawar. Construction & Planning Tech: Mortenson/McCarthy finished a Chula Vista resort six weeks early using Bentley’s SYNCHRO 4D scheduling. Land Use Flashpoint: A reported Yosemite land swap proposal would trade land with a developer for a private road, drawing opposition over wildlife and public-land rules.

Data Center Tax Breaks: A Dayton Daily News investigation says Ohio and local governments handed out billions in long-term tax breaks to mega tech firms building data centers, locking in sales-tax exemptions tied to Amazon, Google and Meta deals from the 2010s. Multifamily Outlook: A Morgan Properties executive argues the 2026 multifamily phase is stabilizing but uneven, rewarding disciplined operators as supply stays elevated and rent growth stays muted. Housing Demand Shifts: Realtor.com reports three in five home views in the biggest metros are going to listings outside the local market, driven by affordability and job pull. Local Housing Deal: San Diego is set to vote on edits to the 101 Ash St. ground lease to convert an office tower into 252 affordable apartments, with a longer lease and lender-driven requirements. Fair Housing Funding: A federal judge blocked HUD’s plan to defund fair housing groups, restoring funding for FY2025. Construction & Infrastructure: Oakland’s Port and the Army Corps signed a $640M agreement to widen harbor turning basins for ultra-large container ships by 2030. Heat & Rent Pressure: Phoenix renters may need $69K income to afford a typical rental once summer cooling costs hit. Border Wall & Land Use: Trump’s Arizona border wall construction is underway despite objections from the Tohono O’odham Nation. Grid Stress: Reports warn heat waves strain power supply, not just raise AC bills.

Housing Finance: Freddie Mac says the 30-year fixed mortgage rate inched up to 6.66% (from 6.65%), keeping homebuying costs high. Affordable Housing & Development: MassDevelopment closed on land for Emerson Green Residences in Devens, MA—planned 46 mixed-income apartments in a 56,000 s/f building. Local Housing Preservation: Clarksville, TN expanded its Home Repair Program to cover rental property improvements, aiming to keep existing affordable units in good shape. Multifamily Pipeline: In Fitchburg, MA, GFI Partners bought 22 acres near the airport for a 200,000 s/f commercial/industrial building, alongside an Amazon distribution center nearby. CRE Operations: The Peabody Companies highlighted NAHMA professional designations for assistant property managers tied to HUD occupancy and housing credit compliance. Data Centers & Water: Indianapolis water officials discussed how data centers could affect local waterways as the city weighs zoning standards after approving several projects. Market Pressure: ATTOM reports a 1.3% national vacancy rate and a small but persistent “zombie” foreclosure share, tightening options for buyers. Housing Access for Youth: HUD Secretary Scott Turner met Montana leaders on speeding vouchers and housing placement for young adults leaving foster care.

Housing & Rent Relief: A proposed $359.9M settlement targets RealPage, alleging its rental pricing software helped landlords artificially raise multifamily rents; eligible renters can check coverage and file claims. Mortgage Rates: Freddie Mac puts the 30-year fixed at 6.66% (little change), with economists warning buyers waiting for lower rates may face a longer wait. Fair Housing Funding: A federal judge blocked HUD’s plan to overhaul fair housing grants, ordering HUD to revert to the prior grantmaking process. Local Infrastructure: Missouri DOT is replacing aging traffic signals in Dutchtown and Cape Girardeau, with staged closures expected to last about six months. Manufactured Housing: Kansas officials and researchers highlight manufactured/modular homes as a cost option, but note uneven storm-shelter access. Data Centers & Power: Opposition to AI data centers is fueling election pressure, while EPA advisory leadership is shifting toward local siting concerns. Construction & Planning: The U.S. Army Corps will restrict Lake Hartwell water levels during dam safety work. Big Projects: SpaceX unveiled a $100B Louisiana Gulf Coast spaceport plan, with construction expected to start by end of 2027.

Alaska Senate Shake-Up: A challenger named Dan J. Sullivan advanced to Alaska’s Nov. ranked-choice U.S. Senate race after a judge cleared his ballot eligibility, setting up a high-profile matchup with incumbent Sen. Dan Sullivan. Housing & Local Politics: In Monterey, a mayoral race pits incumbent Tyller Williamson against Vince Malfitano amid budget and housing pressure, while Pacific Grove’s first-ever district election adds new council dynamics. Workplace & Public Housing: Monterey County Housing Authority workers staged a protest over low pay, training, and a “toxic” workplace, as officials disputed the numbers. Disaster Rebuild: Spokane is moving to speed debris removal, testing permits, and reconstruction after the Complex Fires, including fee relief to restart home rebuilding. Affordability Pressure: A new report highlights how homeownership is getting harder, with buyers turning to co-buying and multigenerational purchases. Data Centers vs. Communities: Ohio’s Senate race is being framed around data-center growth, while Austin weighs zoning changes that could limit large data centers. Construction & Development: Digital Realty broke ground on a new Switzerland data center, and Georgia’s Princeton NuEnergy is selected for DOE grant talks for a $50M battery recycling facility. Market Stress Signals: Foreclosures ticked up in July, with Nevada, South Carolina, and Florida leading.

U.S. Housing & Construction: Milwaukee’s East Side got a major multifamily deal: Cottonwood Communities bought Park Lafayette Towers (271 units) for $94.1M, closing late July after a long condo-to-rental conversion history. Affordable Housing & Courts: A Louisville-area jury awarded more than $36M to affordable housing developer LDG in a Fair Housing Act case against the City of Prospect over a proposed senior project. Senior Living Demand: SeniorCRE and NIC MAP warn the senior housing & care investment need tops $1T through 2050 as construction starts fall and the 80+ population surges. Permitting & Land Use: The U.S. Forest Service floated changes to how it designates motorized access, including an “access-oriented” framework and potential e-bike exemptions. Local Growth: Jackson County, Georgia is nearing 100,000 residents after rapid 2020–2025 growth. Big Projects: SpaceX plans a $100B Starship spaceport complex in Louisiana, with construction starting in 2027. Public Infrastructure: Oklahoma’s Westville school bond plan passed for a $2.1M science/STEM addition, while a larger facilities proposition failed.

Housing & Finance: Mortgage rates inched down again, with the 30-year conforming average at 6.681% (down 3 bps) and 15-year at 5.857% (flat). Affordability Pressure: A new SmartAsset analysis finds the “tradwife” stay-at-home setup typically needs about $80,000 in most states—often under $100K—highlighting how child-rearing costs collide with housing and household budgets. Trade & Construction Costs: The U.S.-Canada tariff fight is already hitting building materials; Spokane-area suppliers warn 50% Canadian wood and construction tariffs could raise renovation and new-build costs. Local Development & Permits: Howard County plans to appeal a ruling that reinstated permits for a proposed ICE field office in Elkridge, keeping the project tied up in court. Infrastructure After Storms: North Carolina’s U.S. 176 stretch damaged by Hurricane Helene will stay closed through late 2029 as crews rebuild multiple washed-out sites. Energy & Data Centers: TVA approved a new data-center rate structure meant to keep infrastructure costs from shifting to residential customers, effective Oct. 1. Construction Industry Signals: HanmiGlobal hit a record ENR ranking, placing sixth globally in construction management/project management (CM/PM).

Housing & Construction Policy: HUD is weighing a rule that could let local public housing authorities choose work requirements and/or time limits, with Reading, Pa. asking residents what to adopt as a way to potentially free up units. Multifamily Supply Outlook: Yardi Matrix says new apartment supply is set to bottom out in 2027 around 444,343 units, then rise only marginally by 2031, with higher rates continuing to constrain both multifamily and single-family activity. Affordable Housing Pipeline: Portland, Maine’s Avesta Housing is moving ahead with “The Bellwether,” a $88M, 201-unit affordable project. Local Development & CRE: Valley National Bancorp is buying Providence Financial for $247M to strengthen its Chicago-area footing, after trimming a heavy commercial real estate loan concentration. Legal & Land Use: A federal appeals court rejected environmental groups’ bid to block Louisiana’s CP2 LNG terminal and pipeline, clearing the way for the project. Infrastructure & Access: Senators Ossoff and Warnock announced $4M+ for Savannah/Hilton Head airport taxiway upgrades, while Idaho and the U.S. Forest Service expanded Good Neighbor Authority trail agreements. Trade War Pressure on Real Estate: U.S.-Canada tariffs escalated after talks collapsed, with Canada hitting 700+ U.S. goods and the U.S. considering broader actions—raising uncertainty for construction inputs and cross-border demand.

U.S.-Canada Trade War Hits Housing Costs: New 50% federal tariffs on Canadian imports are expected to raise construction prices and home prices in the Miami Valley, targeting key building materials like lumber, plywood, windows, cabinets, steel and aluminum. Election & Voting Access: A U.S. Supreme Court ruling clears the way for the Trump administration to restrict mail-in voting, with Sen. Maria Cantwell warning it could force states to hand over voter data and undermine free elections. Local Housing & Property Taxes: Polk County, Florida officials warned a proposed property tax amendment could cost the county about $110,000, as growth pressures drive a record $39B budget. Real Estate Legal Watch: The Justice Department sued an Ohio landlord for sexual harassment and retaliation against female tenants, spotlighting tenant protections. Construction/Infrastructure: Nevada’s Hawk Fire burned 15,000+ acres with 0% containment, underscoring wildfire risk at the wildland-urban interface where housing growth has surged. Energy & Power Infrastructure: Imperial Irrigation District marked National Hydropower Day, highlighting how Colorado River water and the All-American Canal support renewable power and local reliability.

Housing & Construction Disruptions: MoDOT is rolling out major bridge work on U.S. 65 and I-44 in Missouri, with lane shifts starting Aug. 31 in Pettis County and a longer Springfield flyover rehab virtual meeting running Sept. 8–22, pushing construction into 2027. AI Data Centers vs. Communities: Backlash to AI data centers is now a midterm issue, with Texas tightening rules and pausing some approvals while opponents argue the buildout is straining power, water, and labor—plus a separate push to keep public participation in air permits for projects like data centers. Online Real Estate Market Shakeup: Zillow and Redfin agreed to restore competition after an FTC case tied to their multifamily rental listing deal, with Redfin required to rebuild its rental ads business. National Security & Real Estate-Adjacent Politics: Reporting says a secret White House bunker undercuts the argument for Trump’s $600M ballroom, even as courts keep the project moving “for now.” Local Property Moves: Mason County may sell its former Scottville office building after an appraisal pegged it at $255,000. Trade & Infrastructure: The U.S.-Canada trade war escalated with new tariffs and retaliation timelines, while DOT awarded nearly $665M for ferry projects across 14 states.

Housing & Affordability: A new report says renting a unit in every Australian capital city now costs more than half of average income, underscoring how housing supply gaps keep pushing costs up. Local Planning & Public Works: Louisville’s VA hospital opening is delayed about a year while a major I-264/U.S. 42 interchange rebuild continues, showing how overlapping projects can reshape commute patterns. Data Centers & Power Costs: Texas Gov. Greg Abbott warns data centers “dug their own grave” after community backlash, while other states move toward stricter rules—part of a broader fight over who pays for grid upgrades. Construction Safety: A Gachibowli building collapse in India killed two workers and led to scrutiny of unauthorized construction. Federal Real Estate: Maryland lawmakers hailed a court ruling restoring the FBI headquarters project to Greenbelt, a win for a long-running site dispute. Infrastructure Delivery: Fort McCoy’s East Barracks project hit 99% completion, nearing final inspections and turnover. Policy & Politics: AP reports Jared Kushner met with House leader Hakeem Jeffries as Democrats weigh a potential House comeback in November.

Housing & Courts: The U.S. Supreme Court let President Trump’s White House ballroom construction continue for now, after a temporary stay—keeping a fight over whether Congress must approve major changes to federally owned property in play. Data Centers & Local Impacts: Texas Gov. Greg Abbott says data center developers “dug their own grave” by failing to engage communities, and his pause/guardrails aim to curb water, power, and neighborhood fallout; backlash is already stalling thousands of projects. Commercial Real Estate: A Green Street look at July performance shows apartments lagging while other property types bounced, underscoring how higher costs and post-2022 overbuilding still weigh on multifamily. Affordable Housing & Policy: HUD guidance on emotional support animals adds new compliance pressure for housing providers. Infrastructure & Transit: TxDOT’s U.S. 75 technology-lane conversion is near completion, shifting former HOV lanes to time-based rules for solo drivers. Development Permits: The U.S. Army Corps cleared a key Line 5 pipeline update permit in Michigan, but tribal and state-level hurdles remain. Community Recovery: SBA disaster loan outreach centers are opening for Kane County storm damage, including help for homeowners, renters, and small businesses.