Calculating The Cost Of NIMBY-Ism
Source: globest.com | Re-Post MNM Partners, LLC 7/12/2017 –
A new index has been developed that calculates the difficulty of building new apartments in 50 metro areas in the US. Called the Barriers to Apartment Construction Index, it takes into account a wide range of factors including local regulations, the amount of land to develop and the prevalence of “Not in My Backyard” activity, or NIMBY-ism.
The index is part of a larger body of research by Hoyt Advisory Services that was
commissioned by the National Apartment Association and National Multifamily Housing Council.
It is the product of two existing indexes — the Wharton Regulatory Index and the LaCroix Natural Supply Limits Index, Caitlin Walter, director of Research for the National Multifamily Housing Council tells GlobeSt.com.
The index reflects a range environments for apartment building, she says, with Honolulu the most difficult and New Orleans the easiest.