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In Conversation: Workforce Housing Proves Its Value
The pandemic underscored the strength and vitality of workforce housing, which all too often has been seen as a solid but unexceptional corner of the multifamily market. During the past year, suburban workforce housing assets outperformed Class A urban properties, with rents and occupancy maintaining pre-pandemic levels. Certainly, the sector’s resilience can partially be attributed to the economic stimulus programs Congress enacted, but it is equally true that many of its residents are essential workers, with jobs in fields like healthcare, transportation, and critical retail that insulates them from economic downturns.

Richard Martinez, Senior Vice President, Production & Sales at Freddie Mac Multifamily, and Thomas Carroll, Founder & CEO of Ballast Rock, a specialist in workforce housing, will share their perspectives on the lessons learned about this critical property sector over the past year and discuss its prospects going forward in a conversation moderated by Lument CEO James Flynn.

We will take a look at the workforce housing sector as a whole, examine opportunities moving forward, and discuss potential headwinds like inflation, staffing shortages, and the impact of the Delta variant. We will highlight Freddie Mac’s efforts to support this vital sector, the economic trends driving its growth, and the initiatives the administration is taking that could accelerate the development of new properties and revitalization of older ones. At the same time, we will highlight the expertise, discipline, and operational philosophy that can make these communities attractive to residents and therefore to investors.

Dec 8, 2021 02:00 PM in Eastern Time (US and Canada)

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James Flynn
CEO @Lument
As Lument’s CEO, Jim Flynn is carefully attuned to the needs of his CRE investors. This perspective is guiding him as he assembles a comprehensive CRE capital provider, one that offers customized solutions across the full range of multifamily, affordable, seniors, and healthcare property types.
Rich Martinez
SVP, Production & Sales @Freddie Mac
Rich Martinez leads the production and sales teams for all Freddie Mac Multifamily product lines: Conventional, Small Balance Loans, Targeted Affordable Housing, and Seniors Housing. This vantage point gives him an unusually comprehensive sense of the dynamics driving the market.
Thomas Carroll
Founder & CEO @Ballast Rock
Workforce housing is Tom Carroll’s sweet spot. As founder and CEO of Ballast Rock, he has assembled an organization with the skills, systems, and talent required to create safe, clean, and affordable places for working families to live while generating attractive returns for his investors.