July 21, 2025 • 10 mins
In this episode, Sandy MacKay explores the recent surge in multifamily housing construction in Anchorage, driven by tax incentives and notable projects from local developers. Sandy delves into insights from developers and the Anchorage Assembly's initiatives, highlighting community responses and efforts to address the city's housing shortage. The episode also features an overview of Founders Development Company's RailRoad Lofts project, emphasizing its amenities, sustainability features, and investment potential. Additionally, Sandy discusses Ottawa's air conditioning initiative and how landlords are responding, alongside government funding efforts to enhance tenant safety.
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Episode Transcript
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(00:00):
Did you know that Anchorage, Alaska, isexperiencing a significant boost in multifamily
(00:04):
housing construction, thanks to new tax breaksand a pause on certain design rules?
It's an exciting development for the city!
Welcome to the Multifamily Real Estate InsightsPodcast.
I'm your host, Sandy Mackay.
Let's get right to it.
In Anchorage, developers and municipalofficials are crediting recent tax breaks and a
(00:27):
moratorium on specific design rules for largemultifamily projects with setting the stage for
a substantial increase in apartmentconstruction.
This effort, led by the mayor's office and theAnchorage Assembly, aims to address the city's
long-standing shortage in housing construction,which has contributed to rising rent and home
prices.
(00:47):
According to a recent update from municipalplanners, Anchorage permitted 146 residential
units in the first six months of this year forprojects with four or more units.
This marks a considerable rise from theprevious year, which saw only 79 units
permitted in the same category.
The growth in permits is helping boost overallresidential construction, including
(01:10):
single-family homes, triplexes, and duplexes.
Projects currently on the books include atownhome complex in the Sand Lake neighborhood
and a Cook Inlet Housing Authority project inMidtown.
Nolan Klouda, policy director for Mayor SuzanneLaFrance, highlighted that the city had been in
a housing production drought for several years.
(01:32):
Facing high costs and other challenges,developers have mostly focused on high-end
luxury homes or federally subsidized housing.
However, the new tax break and moratorium areenabling projects that fill the middle market
space that many residents can afford.
Developer Shaun Debenham is utilizing thesetools to advance the Raspberry Townhomes, a $19
(01:56):
million, 58-unit project in Sand Lake atNorthwood Street and Raspberry Road.
Debenham stated, "The way I look at it, thesetwo tools enabled a project that didn’t pencil,
to now pencil, and be able to move forward."
The Anchorage Assembly has taken several stepsover the past three years to loosen development
(02:17):
rules, promoting more housing construction.
LaFrance has set a citywide goal of building1,000 new and rehabilitated residential units
annually over the next decade.
As of July, 263 residential units had beenpermitted, compared to 300 for all of last
year.
In February, the Assembly approved a three-yearpause on many city design rules for large
(02:41):
multifamily housing, and in April, it passed anew ordinance providing a 20-year tax break for
projects with eight or more units, exemptingthe building but not the land.
Some community councils have expressed concernsthat these changes could alter neighborhood
character by increasing density.
(03:02):
However, the Rabbit Creek Community Council hascalled the tax break "a positive step in the
right direction."
Debenham estimates that only about 100market-rate apartments have been built in
Anchorage in the last 20 years, with half ofthose developed by him at The Residences at
Northwood.
The Raspberry Townhomes, designed to beattractive even without meeting all previous
(03:24):
design standards, will offer features likeheated garages and smart home technologies and
are expected to be available for rent in 2027.
The Anchorage Community Development Authority'sinvolvement in projects like the Block 96 Flats
apartments in downtown highlights thepublic-private efforts to increase housing
availability.
The design moratorium allows developers moreflexibility in aesthetics, helping projects
(03:47):
like the Cook Inlet Housing Authority's Baxterhousing project to break ground sooner and save
costs.
The efforts to boost multifamily housing inAnchorage are seen as a necessary step to
address the city's housing shortage.
While changes take time to manifest fully, thesigns are promising, and the collaboration
between builders, city leaders, and planningdepartments is a positive development.
(04:12):
In Cleburne, Texas, Founders DevelopmentCompany has revealed plans for an ambitious
multifamily project known as RailRoad Lofts.
This development is a key component of themaster plan for the Railhead Addition and is
now officially open for investment.
Private capital opportunities are available forqualified partners, making this a promising
(04:33):
venture for those looking to invest inmultifamily real estate.
RailRoad Lofts is strategically locatedadjacent to the well-known La Moderna Field,
home of the Cleburne Railroaders minor leaguebaseball team.
The project's prime access to majortransportation routes, including U.S.
Highway 67, State Highway 171, and the ChisholmTrail Parkway, adds to its appeal.
(04:59):
This mixed-use development will ultimatelyfeature townhomes, build-to-rent homes, retail
spaces, restaurants, a hotel, and a medicalcenter, making it one of the most ambitious
developments in Cleburne's history.
Cary Clarke, the developer and founder ofFounders Development Company, expressed
enthusiasm about the project, stating, "Thisproject checks every box: growth corridor,
(05:24):
entitlement-ready land, high-demand multifamilyhousing, and a mixed-use vision that builds
real community." After evaluating numerousopportunities, Clarke found this project to be
exceptional, from land to demand price, rentgrowth potential, and location.
It's a remarkable opportunity for investorslooking for a substantial, sustainable, and
(05:47):
transformational project.
RailRoad Lofts will offer a thoughtfullycurated mix of one-, two-, and three-bedroom
floor plans, along with a suite of high-endamenities designed for modern urban living.
Residents will enjoy a luxury clubhouse with afull kitchen and coffee bar, a resident lounge
and business center with conference rooms, afull-service fitness facility, and a
(06:10):
resort-style swimming pool with outdoor cookingstations.
Additionally, the development will featurecrushed granite walking trails lit with festoon
lighting, leading to an adjacent entertainmentdistrict.
For those concerned about parking andsustainability, the project will provide
options for surface parking, covered carports,and enclosed garages, along with on-site
(06:33):
electric vehicle charging stations.
The development is being financed through a40-year fixed-rate loan from the Department of
Housing and Urban Development, a covetedfinancial tool in multifamily real estate.
Approximately $57 million will be fundedthrough HUD, with an additional $13 million
open to private investors as limited partners.
(06:55):
This development represents a significantopportunity for investors and a transformative
project for the community.
With its strategic location, comprehensiveamenities, and sustainable design, RailRoad
Lofts is set to be a standout addition toCleburne’s real estate landscape.
Now, let's move on to an important topicaffecting landlords and tenants in Ottawa,
(07:17):
Ontario.
As reported by the CBC, Ottawa Centre Member ofProvincial Parliament Catherine McKenney is
preparing to introduce a motion that wouldrequire landlords to ensure renters have access
to air conditioning.
This initiative aims to cap apartmenttemperatures at 26 degrees Celsius, addressing
concerns about tenant health during extremeheat events.
(07:39):
The Eastern Ontario Landlord Organization,represented by John Dickie, has expressed that
while landlords are prepared to do their part,they will need support for potentially
expensive and time-consuming upgrades.
Dickie emphasized that the responsibility fortenant safety should be shared by society at
large, not just building owners.
(08:01):
He highlighted the need for retrofittingprograms that could help landlords make
necessary adjustments while also promotingenergy efficiency.
Statistics Canada has pointed out the severeimpact of extreme heat events, which have
resulted in 670 more deaths than usual acrossCanada's largest cities between 2000 and 2020.
(08:23):
However, Ontario does not currently trackheat-related deaths, which adds complexity to
the issue.
Advocates argue that more robust tracking andsupport systems are needed to protect
vulnerable populations, particularly seniorsand low-income residents who are most at risk.
Jacqueline Wilson from the CanadianEnvironmental Law Association supports the
(08:46):
notion that all levels of government shouldprovide funding to assist landlords in meeting
these new requirements swiftly and sustainably.
She noted that while some programs exist, moretargeted efforts are necessary to support
buildings with low-income tenants.
Hassan Youssouf from the Association ofCommunity Organizations for Reform Now in
(09:06):
Ottawa believes that landlords shouldcollaborate with government efforts to ensure
costs are not unfairly transferred to renters.
While there's a perception that landlords areinherently wealthy, John Dickie cautions that
many face financial challenges, particularlywhen dealing with older buildings or properties
under rent control.
The proposal by MPP McKenney is part of abroader discussion on how to balance tenant
(09:30):
safety with the financial realities facinglandlords.
It's clear that any legislative changes willrequire careful consideration and collaboration
between landlords, tenants, and governmententities to ensure a fair and effective
solution.
Thank you for listening to the Multifamily RealEstate Insights Podcast.
(09:50):
I'm your host, Sandy McKay.
See you on the next one.
Did you know that Anchorage, Alaska, isexperiencing a significant boost in multifamily
(00:04):
housing construction, thanks to new tax breaksand a pause on certain design rules?
It's an exciting development for the city!
Welcome to the Multifamily Real Estate InsightsPodcast.
I'm your host, Sandy Mackay.
Let's get right to it.
In Anchorage, developers and municipalofficials are crediting recent tax breaks and a
(00:27):
moratorium on specific design rules for largemultifamily projects with setting the stage for
a substantial increase in apartmentconstruction.
This effort, led by the mayor's office and theAnchorage Assembly, aims to address the city's
long-standing shortage in housing construction,which has contributed to rising rent and home
prices.
(00:47):
According to a recent update from municipalplanners, Anchorage permitted 146 residential
units in the first six months of this year forprojects with four or more units.
This marks a considerable rise from theprevious year, which saw only 79 units
permitted in the same category.
The growth in permits is helping boost overallresidential construction, including
(01:10):
single-family homes, triplexes, and duplexes.
Projects currently on the books include atownhome complex in the Sand Lake neighborhood
and a Cook Inlet Housing Authority project inMidtown.
Nolan Klouda, policy director for Mayor SuzanneLaFrance, highlighted that the city had been in
a housing production drought for several years.
(01:32):
Facing high costs and other challenges,developers have mostly focused on high-end
luxury homes or federally subsidized housing.
However, the new tax break and moratorium areenabling projects that fill the middle market
space that many residents can afford.
Developer Shaun Debenham is utilizing thesetools to advance the Raspberry Townhomes, a $19
(01:56):
million, 58-unit project in Sand Lake atNorthwood Street and Raspberry Road.
Debenham stated, "The way I look at it, thesetwo tools enabled a project that didn’t pencil,
to now pencil, and be able to move forward."
The Anchorage Assembly has taken several stepsover the past three years to loosen development
(02:17):
rules, promoting more housing construction.
LaFrance has set a citywide goal of building1,000 new and rehabilitated residential units
annually over the next decade.
As of July, 263 residential units had beenpermitted, compared to 300 for all of last
year.
In February, the Assembly approved a three-yearpause on many city design rules for large
(02:41):
multifamily housing, and in April, it passed anew ordinance providing a 20-year tax break for
projects with eight or more units, exemptingthe building but not the land.
Some community councils have expressed concernsthat these changes could alter neighborhood
character by increasing density.
(03:02):
However, the Rabbit Creek Community Council hascalled the tax break "a positive step in the
right direction."
Debenham estimates that only about 100market-rate apartments have been built in
Anchorage in the last 20 years, with half ofthose developed by him at The Residences at
Northwood.
The Raspberry Townhomes, designed to beattractive even without meeting all previous
(03:24):
design standards, will offer features likeheated garages and smart home technologies and
are expected to be available for rent in 2027.
The Anchorage Community Development Authority'sinvolvement in projects like the Block 96 Flats
apartments in downtown highlights thepublic-private efforts to increase housing
availability.
The design moratorium allows developers moreflexibility in aesthetics, helping projects
(03:47):
like the Cook Inlet Housing Authority's Baxterhousing project to break ground sooner and save
costs.
The efforts to boost multifamily housing inAnchorage are seen as a necessary step to
address the city's housing shortage.
While changes take time to manifest fully, thesigns are promising, and the collaboration
between builders, city leaders, and planningdepartments is a positive development.
(04:12):
In Cleburne, Texas, Founders DevelopmentCompany has revealed plans for an ambitious
multifamily project known as RailRoad Lofts.
This development is a key component of themaster plan for the Railhead Addition and is
now officially open for investment.
Private capital opportunities are available forqualified partners, making this a promising
(04:33):
venture for those looking to invest inmultifamily real estate.
RailRoad Lofts is strategically locatedadjacent to the well-known La Moderna Field,
home of the Cleburne Railroaders minor leaguebaseball team.
The project's prime access to majortransportation routes, including U.S.
Highway 67, State Highway 171, and the ChisholmTrail Parkway, adds to its appeal.
(04:59):
This mixed-use development will ultimatelyfeature townhomes, build-to-rent homes, retail
spaces, restaurants, a hotel, and a medicalcenter, making it one of the most ambitious
developments in Cleburne's history.
Cary Clarke, the developer and founder ofFounders Development Company, expressed
enthusiasm about the project, stating, "Thisproject checks every box: growth corridor,
(05:24):
entitlement-ready land, high-demand multifamilyhousing, and a mixed-use vision that builds
real community." After evaluating numerousopportunities, Clarke found this project to be
exceptional, from land to demand price, rentgrowth potential, and location.
It's a remarkable opportunity for investorslooking for a substantial, sustainable, and
(05:47):
transformational project.
RailRoad Lofts will offer a thoughtfullycurated mix of one-, two-, and three-bedroom
floor plans, along with a suite of high-endamenities designed for modern urban living.
Residents will enjoy a luxury clubhouse with afull kitchen and coffee bar, a resident lounge
and business center with conference rooms, afull-service fitness facility, and a
(06:10):
resort-style swimming pool with outdoor cookingstations.
Additionally, the development will featurecrushed granite walking trails lit with festoon
lighting, leading to an adjacent entertainmentdistrict.
For those concerned about parking andsustainability, the project will provide
options for surface parking, covered carports,and enclosed garages, along with on-site
(06:33):
electric vehicle charging stations.
The development is being financed through a40-year fixed-rate loan from the Department of
Housing and Urban Development, a covetedfinancial tool in multifamily real estate.
Approximately $57 million will be fundedthrough HUD, with an additional $13 million
open to private investors as limited partners.
(06:55):
This development represents a significantopportunity for investors and a transformative
project for the community.
With its strategic location, comprehensiveamenities, and sustainable design, RailRoad
Lofts is set to be a standout addition toCleburne’s real estate landscape.
Now, let's move on to an important topicaffecting landlords and tenants in Ottawa,
(07:17):
Ontario.
As reported by the CBC, Ottawa Centre Member ofProvincial Parliament Catherine McKenney is
preparing to introduce a motion that wouldrequire landlords to ensure renters have access
to air conditioning.
This initiative aims to cap apartmenttemperatures at 26 degrees Celsius, addressing
concerns about tenant health during extremeheat events.
(07:39):
The Eastern Ontario Landlord Organization,represented by John Dickie, has expressed that
while landlords are prepared to do their part,they will need support for potentially
expensive and time-consuming upgrades.
Dickie emphasized that the responsibility fortenant safety should be shared by society at
large, not just building owners.
(08:01):
He highlighted the need for retrofittingprograms that could help landlords make
necessary adjustments while also promotingenergy efficiency.
Statistics Canada has pointed out the severeimpact of extreme heat events, which have
resulted in 670 more deaths than usual acrossCanada's largest cities between 2000 and 2020.
(08:23):
However, Ontario does not currently trackheat-related deaths, which adds complexity to
the issue.
Advocates argue that more robust tracking andsupport systems are needed to protect
vulnerable populations, particularly seniorsand low-income residents who are most at risk.
Jacqueline Wilson from the CanadianEnvironmental Law Association supports the
(08:46):
notion that all levels of government shouldprovide funding to assist landlords in meeting
these new requirements swiftly and sustainably.
She noted that while some programs exist, moretargeted efforts are necessary to support
buildings with low-income tenants.
Hassan Youssouf from the Association ofCommunity Organizations for Reform Now in
(09:06):
Ottawa believes that landlords shouldcollaborate with government efforts to ensure
costs are not unfairly transferred to renters.
While there's a perception that landlords areinherently wealthy, John Dickie cautions that
many face financial challenges, particularlywhen dealing with older buildings or properties
under rent control.
The proposal by MPP McKenney is part of abroader discussion on how to balance tenant
(09:30):
safety with the financial realities facinglandlords.
It's clear that any legislative changes willrequire careful consideration and collaboration
between landlords, tenants, and governmententities to ensure a fair and effective
solution.
Thank you for listening to the Multifamily RealEstate Insights Podcast.
(09:50):
I'm your host, Sandy McKay.
See you on the next one.
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