Federal Housing Administration Raises Cap on Commercial Space
The Congress for the New Urbanism ("CNU") won a battle with the federal government to loosen a pernicious regulation restricting commercial space in mixed-use residential buildings. The new regulation, which increases the cap on commercial space from 25% to 35%, will enable U.S.-government chartered Fannie Mae and Freddy Mac to purchase mortgage debt on the secondary market for a larger variety of mixed-use buildings. The goal is to make primary lending for such development more attractive. Here is a LINK to the CNU write-up and related press coverage.