Dedicated to supporting the construction and preservation of workforce and affordable housing, SP Investment Fund LLC prioritizes those projects that improve tenant quality of life. SP Investment Fund strives to support communities that offer appropriate and relevant amenities and services, so that all tenants can feel comfortable in and proud of their homes.According to a recent survey, more than 90 percent of apartment hunters choose units based on the availability of certain amenities. Data from 2017 rentals reveals that in-unit washers and dryers top the list. Renters seem to prioritize laundry so highly, in fact, that a washer-dryer connection ranks sixth among the year's most popular amenities, and laundry facilities occupy the same spot on the list of most popular community features.Ease of doing basic household chores may also explain the prominence of dishwashers as fifth on the list of desired amenities. Comfort appears important, as well, as air conditioning ranks second and balconies eighth, while swimming pools rank third as a community amenity.
Based in Southern California, SP Investment Fund LLC pursues opportunities nationwide that involve the rehabilitation of affordable housing and/or market-rate workforce housing. SP Investment Fund’s commitment to affordable housing focuses on ensuring that existing regulated apartment senor and family communities extend their affordability covenants and their useful lives through rehabilitation. As highlighted in Multi-Housing News, one area of potential growth is in larger rental units that meet the needs of families. While the majority of investors are focused on meeting the needs of highly paid millennial renters, who are perceived to provide the highest investment returns, senior and family housing should not be overlooked.Experts note that only 22 percent of households are headed by someone under the age of 30. On the other hand, 44 percent are headed by someone 45 and older. Yet, since 2000, less than 10 percent of apartment communities have been constructed with three-bedroom units designed to meet the needs of larger families. This has led to a major supply-and-demand imbalance, which makes larger-unit affordable assets a stable source of cash flow and long-term risk-adjusted returns. Not only are social impact mandates met and operating expenses decreased, but overall occupancy of family housing tends to be higher and more stable from year to year.
