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Stop the nonsense. There's a simple truth about market-rate housing development that almost nobody understands... Far too many people believe that building market-rate housing 𝙘𝙖𝙪𝙨𝙚𝙨 rents to increase. BUT that could not be farther from the truth. THE TRUTH: 𝗠𝗮𝗿𝗸𝗲𝘁-𝗿𝗮𝘁𝗲 𝗵𝗼𝘂𝘀𝗶𝗻𝗴 𝘄𝗶𝗹𝗹 𝗺𝗮𝗸𝗲 𝘆𝗼𝘂𝗿 𝗰𝗶𝘁𝘆 𝗰𝗵𝗲𝗮𝗽𝗲𝗿 𝗼𝘃𝗲𝗿𝗮𝗹𝗹. In an elegant takedown of anti-market-rate development policies, Noah Smith clearly shows the economic evidence for the dramatic - POSITIVE - impact of adding more supply by building more market-rate housing. 𝗧𝗛𝗘 𝗠𝗬𝗧𝗛 𝘖𝘱𝘱𝘰𝘯𝘦𝘯𝘵𝘴 𝘰𝘧 𝘮𝘢𝘳𝘬𝘦𝘵-𝘳𝘢𝘵𝘦 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘩𝘢𝘷𝘦 𝘢 𝘳𝘪𝘥𝘪𝘤𝘶𝘭𝘰𝘶𝘴 𝘧𝘢𝘯𝘵𝘢𝘴𝘺 𝘵𝘩𝘢𝘵 𝘪𝘧 𝘵𝘩𝘦𝘺 𝘤𝘢𝘯 𝘫𝘶𝘴𝘵 𝘳𝘦𝘴𝘵𝘳𝘪𝘤𝘵 𝘴𝘶𝘱𝘱𝘭𝘺 𝘦𝘯𝘰𝘶𝘨𝘩, 𝘳𝘪𝘤𝘩 𝘺𝘶𝘱𝘱𝘪𝘦𝘴 𝘸𝘪𝘭𝘭 𝘣𝘦 𝘧𝘰𝘳𝘤𝘦𝘥 𝘵𝘰 𝘮𝘰𝘷𝘦 𝘧𝘢𝘳 𝘢𝘸𝘢𝘺, 𝘸𝘩𝘪𝘭𝘦 𝘮𝘪𝘥𝘥𝘭𝘦-𝘤𝘭𝘢𝘴𝘴 𝘢𝘯𝘥 𝘸𝘰𝘳𝘬𝘪𝘯𝘨-𝘤𝘭𝘢𝘴𝘴 𝘱𝘦𝘰𝘱𝘭𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘵𝘰 𝘴𝘵𝘢𝘺 𝘸𝘩𝘦𝘳𝘦 𝘵𝘩𝘦𝘺 𝘢𝘳𝘦. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘴𝘪𝘮𝘱𝘭𝘺 𝘯𝘰𝘵 𝘸𝘩𝘢𝘵 𝘩𝘢𝘱𝘱𝘦𝘯𝘴. 𝗧𝗛𝗘 𝗙𝗔𝗖𝗧𝗦 New market-rate housing frees up older/more affordable apartments as higher-income earners more often choose to live in the newer housing product. This chain of moves is known as "filtering": 𝘊𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘯𝘨 𝘢 𝘯𝘦𝘸 𝘮𝘢𝘳𝘬𝘦𝘵-𝘳𝘢𝘵𝘦 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘩𝘰𝘶𝘴𝘦𝘴 100 𝘱𝘦𝘰𝘱𝘭𝘦 𝘶𝘭𝘵𝘪𝘮𝘢𝘵𝘦𝘭𝘺 𝘭𝘦𝘢𝘥𝘴 45 𝘵𝘰 70 𝘱𝘦𝘰𝘱𝘭𝘦 𝘵𝘰 𝘮𝘰𝘷𝘦 𝘰𝘶𝘵 𝘰𝘧 𝘣𝘦𝘭𝘰𝘸-𝘮𝘦𝘥𝘪𝘢𝘯 𝘪𝘯𝘤𝘰𝘮𝘦 𝘯𝘦𝘪𝘨𝘩𝘣𝘰𝘳𝘩𝘰𝘰𝘥𝘴, 𝘸𝘪𝘵𝘩 𝘮𝘰𝘴𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘦𝘧𝘧𝘦𝘤𝘵 𝘰𝘤𝘤𝘶𝘳𝘳𝘪𝘯𝘨 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘳𝘦𝘦 𝘺𝘦𝘢𝘳𝘴. 𝘛𝘩𝘦𝘴𝘦 𝘳𝘦𝘴𝘶𝘭𝘵𝘴 𝘴𝘶𝘨𝘨𝘦𝘴𝘵 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘮𝘪𝘨𝘳𝘢𝘵𝘪𝘰𝘯 𝘳𝘪𝘱𝘱𝘭𝘦 𝘦𝘧𝘧𝘦𝘤𝘵𝘴 𝘰𝘧 𝘯𝘦𝘸 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘸𝘪𝘭𝘭 𝘢𝘧𝘧𝘦𝘤𝘵 𝘢 𝘸𝘪𝘥𝘦 𝘴𝘱𝘦𝘤𝘵𝘳𝘶𝘮 𝘰𝘧 𝘯𝘦𝘪𝘨𝘩𝘣𝘰𝘳𝘩𝘰𝘰𝘥𝘴 𝘢𝘯𝘥 𝘭𝘰𝘰𝘴𝘦𝘯 𝘵𝘩𝘦 𝘭𝘰𝘸-𝘪𝘯𝘤𝘰𝘮𝘦 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘮𝘢𝘳𝘬𝘦𝘵. 𝘐𝘯𝘤𝘳𝘦𝘢𝘴𝘦𝘴 𝘪𝘯 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘴𝘶𝘱𝘱𝘭𝘺 𝘴𝘭𝘰𝘸 𝘵𝘩𝘦 𝘨𝘳𝘰𝘸𝘵𝘩 𝘪𝘯 𝘳𝘦𝘯𝘵𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘳𝘦𝘨𝘪𝘰𝘯…𝘐𝘯 𝘴𝘰𝘮𝘦 𝘤𝘪𝘳𝘤𝘶𝘮𝘴𝘵𝘢𝘯𝘤𝘦𝘴, 𝘯𝘦𝘸 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘢𝘭𝘴𝘰 𝘳𝘦𝘥𝘶𝘤𝘦𝘴 𝘳𝘦𝘯𝘵𝘴 𝘰𝘳 𝘳𝘦𝘯𝘵 𝘨𝘳𝘰𝘸𝘵𝘩 𝘪𝘯 𝘵𝘩𝘦 𝘴𝘶𝘳𝘳𝘰𝘶𝘯𝘥𝘪𝘯𝘨 𝘢𝘳𝘦𝘢…𝘛𝘩𝘦 𝘤𝘩𝘢𝘪𝘯𝘴 𝘰𝘧 𝘮𝘰𝘷𝘦𝘴 𝘴𝘱𝘢𝘳𝘬𝘦𝘥 𝘣𝘺 𝘯𝘦𝘸 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘧𝘳𝘦𝘦 𝘶𝘱 𝘢𝘱𝘢𝘳𝘵𝘮𝘦𝘯𝘵𝘴 𝘵𝘩𝘢𝘵 𝘢𝘳𝘦 𝘵𝘩𝘦𝘯 𝘳𝘦𝘯𝘵𝘦𝘥 (𝘰𝘳 𝘳𝘦𝘵𝘢𝘪𝘯𝘦𝘥) 𝘣𝘺 𝘩𝘰𝘶𝘴𝘦𝘩𝘰𝘭𝘥𝘴 𝘢𝘤𝘳𝘰𝘴𝘴 𝘵𝘩𝘦 𝘪𝘯𝘤𝘰𝘮𝘦 𝘴𝘱𝘦𝘤𝘵𝘳𝘶𝘮. And yes - we ALSO need to build (a lot) more capital "A" affordable housing. But more and better "public housing" may be a far more effective way to get affordable housing at scale than simply increasing inclusionary zoning mandates (without substantial density bonuses) or other types of price controls. The full article is well worth a read. 👇 #yimby #housingpolicy #affordablehousing #multifamily #realestatedevelopment #nimby #rentcontrol #zoning

You don't have a property problem. You have an operating model problem. One overloaded on-site manager. Marketing and leasing split across vendors. Reporting bolted on after the fact. That's the default setup, and it's exactly why performance stalls. CHARLESGATE runs marketing, leasing, and operations as one accountable team, on one P&L. No handoffs. No leads dying in the gap between your marketing vendor and your leasing desk. Request a free performance review and see what your current setup is costing you.

Lease-up gets the case study. Renewal gets ignored, and that's exactly where NOI gets defended or given back. At Bremen 282 in East Boston, our second-year renewal cycle grew net effective rent 8.2%, across 51 new and renewal leases, with concessions held to zero on renewals. Lift earned, not bought. Most property managers can't show you a year-two number. Request a free performance review and see where yours stands.

Smart developers push the limits on construction, financing, and design. Then they hand lease-up to whoever answers the phone first. Bremen 282 in East Boston pre-leased 70 units before opening, hit 50% leased before certificate of occupancy, and landed rents $1.30/SF above the competitive set. Concessions stayed minimal throughout. PRISM Gold, Best Rental Community. That's what an integrated marketing-to-leasing engine does before your ribbon-cutting. Request a free performance review of your next lease-up.

Last night I had the opportunity to attend the JVS Boston gala with our team, and it was a powerful reminder of the impact of their work on CHARLESGATE, the community, and countless people's lives for over 88 years. JVS’s mission is to empower individuals from diverse communities to find employment and build careers, while partnering with employers to hire, develop, and retain productive workforces. Learning, Partnership, Quality, Respect, and Social Justice are the pillars of our values. We were fortunate to be introduced to JVS through Jacob Grossman at a time when they were building out a property management maintenance technician program that aligned closely with our business. THANK YOU, Jake, for not only entrusting our team with managing your portfolio but also truly partnering with us when you saw an opportunity. This is how it should work in business. We lift each other up. Over the past year, we’ve partnered with JVS on job training and placement, bringing four maintenance technicians into CHARLESGATE through this program. What stood out last night was hearing directly from both our team and the JVS team about how well these individuals are doing. They were not just placed; they are thriving at CHARLESGATE. Programs like this matter so much. They create opportunity where it is needed, but they also enable us to think differently about how we hire, develop, and support our teams and the communities we serve. This is not charity, it is a smart, impactful partnership that drives real outcomes. The world is a complicated mess right now, but organizations like JVS are a bright spot. For 88 years now, they have been doing the work, hands-on, day in and day out, changing lives. Proud of our team for being part of it, and even more motivated to keep pushing this forward. Amanda (Mandy) Townsend, Andrea Cohen Bresnick, MPH, Abdeloiafi (wafi) Chouiakh, Michael DiMella, Sean Howe, Frank Jones.

Smart developers push the limits on construction, financing, and design. Then they hand lease-up to whoever answers the phone first. Bremen 282 in East Boston pre-leased 70 units before opening, hit 50% leased before certificate of occupancy, and landed rents $1.30/SF above the competitive set. Concessions stayed minimal throughout. PRISM Gold, Best Rental Community. That's what an integrated marketing-to-leasing engine does before your ribbon-cutting. Request a free performance review of your next lease-up.