NEWS & RESOURCES
Study: Multifamily housing projects barely increase student enrollment
Fact: Revenue generated by multifamily housing communities has exceeded the cost of additional students coming to the districts, making these developments CASH-POSITIVE additions for local schools. This and more from a recent report commissioned by the Long Island...
What Do Millennial Renters Really Want?
Millennials expect more when they rent. Generally speaking, millennials are also better educated and have higher income levels than previous generations of renters. Many have careers that are associated with technology, in part because they’re the first generation to...
Millennials are making 3 key decisions that are wiping out the starter home — and it’s changing what homeownership in America looks like.
As a result of limited starter-home inventory, millennials are renting longer. And fewer 25- to 34-year-olds are living with a spouse or partner, which suggests that milestones such as marriage that often precipitate buying a home are happening later in life. For more...
Village of Patchogue Revitalization, Economic Impact Fiscal Impact: public school children
Analysis of the seven multifamily residential projects that created 716 units indicates an estimated 142 public school-age children (K-12) are linked to these residential projects, based on the total number units and associated bedroom counts (e.g, 1BR, 2BR and 3BRs)....
Expand suburban transit options with affordable, on-demand service
Recent research shows that residents on Long Island are looking to drive less. However, the limited effectiveness of the public transit system proves trying for many travelers, with reasons ranging from limited access to inflated prices. For these and other reasons,...
State losing high-earning millennials, study shows
In recent years, an increasing number of high-earning millennials have vacated the Empire State for opportunities in other corners of the nation. The loss of residents under the age of 35, with a salary upwards of $100,000 per year, seems to be common for our region...
Forget owning, renting is becoming the end game for many millennials and baby boomers.
An increasing number of residents are choosing rental housing specifically because it offers a more-flexible lifestyle than homeownership. In today’s economy, you can rent almost anything you need, including music, movies, clothes and cars. Having all of these options...
The Biggest Game Changers in Renting Are Older, Highly-Educated Renters, and 2.5 Million Stronger.
Lowering living expenses, looking for a different lifestyle, less house-related work and overall less responsibility can be achieved by downsizing, so a lot of retirees opt to rent. Baby boomers also account for the highest increase in renters in urban areas, but the...
Housing Choices Good for Home Values.
Towns with housing units of assorted sizes tend to have, and maintain, higher home values than towns that lack residential housing choices. Home values also tend to be higher in towns that offered a wider assortment of home sizes and growing diversity seemed to...
Real Estate Institute at Stony Brook University College of Business: Impact of Market Rate Apartments on School District Enrollment May 2019.
The Real Estate Institute at Stony Brook University’s College of Business conducted a study where they followed 14 multifamily developments in 10 different school districts across Nassau and Suffolk counties. The study found that, over the last decade, new...
Survey: The Next Generation of Long Islanders.
A study comprising 1,805 online surveys of adults between the ages of 18 and 34 was recently conducted. Among other things, the study found that More than 2 in 3 Long Islanders either rent or live in the home of a relative, most in single-family homes. 67% plan to...