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The current multifamily CRE market continues to be an attractive investment option as supply side housing problems and increased borrowing cost for home buyers are placing upward pressure on demand. The enactment of the MBTA Communities Act in January 2021 which requires 177 Cities and Towns to establish “at least 1 district of reasonable size in which multi-family housing is permitted as of right.” Where possible, the district must be within a half mile from public transportation (commuter rail, bus station, ferry terminal or subway) seeks bring more dense housing options to these communities. Topics will focus on economic and real property implications of the MBTA Communities Act, as well as current status of the multifamily market in the region. Participants will learn about the challenges facing the communities, developers, and investors which all impact appraisal analysis and conclusions. The four speakers will give presentations and participate in a moderated panel discussion.

Four speakers will give presentations and participate in a moderated panel discussion.

• Jamie Helen, MPA; Town Administrator at Town of Franklin, MA
• Kendin Carr, Vice President Colliers
• Ellen Marya, Research Manager at Massachusetts Housing Partnership
• Geoff Lewis, The Michaels Organization

Schedule of Events

• 12:00 pm – Check-in, lunch & Q2 2024 Chapter Business Meeting*
• 12:30 pm – Two Hour CE program,Multifamily Market and the Impact of the MBTA Communities Act

*The Election of 2025 Officers, Directors, and Regional Representatives will take place at this meeting. Read the Report of the Nominating Committee here.

Date: Wednesday, September 11, 2024

Location: Hilton Garden Inn, 5 Park Street, Freeport, ME

Schedule of Events

• 2:30 pm – Check-in
• 3:00 pm – Two Hour CE program
• 5:00 pm – Q3 Chapter Business Meeting and Networking reception

As a result of the continued decline of affordable housing, accessory dwelling units have become attractive living options for a variety of persons, for numerous reasons. And the housing crunch is so severe that legislation (LD 2003) was enacted to allow for ADUs on most single-family lots, in some cases taking precedence over local ordinances. In this seminar find out more about the origin of the legislation from Ryan Fecteau, a former Legislator who was instrumental in the crafting and passage of the new law. Parlin Meyer of BrightBuilt Home will speak about the unique construction aspects of ADUs. Local zoning officials Milan Nevajda from South Portland and Erin Zwirko from Yarmouth will share their insight into the planning aspects, while Rob Lynch, SRA, AI-RRS will wrap-up the program with a summary of salient points for appraisers to consider including secondary market considerations.

Panelists:

Ryan Fecteau, Senior Officer of Policy and Planning, Avesta Housing, Portland, ME
Parlin Meyer, Managing Principal, Brightbuilt Home, Portland, ME
Milan Nevajda, Planning Director, City of South Portland, ME
Erin Zwirko, Planning and Development Director, Town of Yarmouth, ME
Robert B. Lynch, SRA, AI-RRS, Portland, ME