WASHINGTON, D.C. — (RealEstateRama) — A new foundation dedicated to apartment industry research has raised over $2.25 million in cash commitments from NMHC members to kick start the next generation of industry insight and analysis. Created by the National Multifamily Housing Council (NMHC), the new NMHC Research Foundation will address critical voids in apartment data and raise the industry’s standard of performance.
“As the multifamily industry grows in sophistication, so must the quality and breadth of our analysis,” said NMHC President and CEO, Doug Bibby. “The NMHC Research Foundation ensures that we’re able to continue providing leading, actionable information for the apartment market and support our member businesses.”
The non-profit 501(c)3 foundation will pursue unique and original research to fill gaps in knowledge about the multifamily sector and support NMHC’s members. Research topics will span issues related to development and redevelopment activity, housing affordability, demographics, tax policy, zoning and land use, among others.
Significant funding from Founding Partners RealPage and Weidner Apartment Homes helped lift the NMHC Research Foundation off the ground. RealPage’s $1.0 million commitment will come half in a $500,000 cash donation to be made over three years and half in access to the company’s extensive databases and analytical capabilities. The Weidner commitment of $500,000 also will come over three years.
“Access to information in an environment where ideas are openly shared and exchanged not only allows for rapid response to hot-button topics, but also supports the overall health of the entire multifamily industry,” said Steve Winn, RealPage Chairman and CEO. “RealPage is excited to partner with NMHC to enhance the industry’s intelligence.”
“Weidner is proud to support NMHC’s effort to enhance the level of quality research in the apartment sector. Quality data and research increases the value proposition to all stakeholders in our industry,” said Dean Weidner, founder of Weidner Apartment Homes. “We are happy to partner with the newly created research foundation, allowing NMHC to stay on the forefront of sophistication in the multifamily arena.”
“We are grateful to RealPage, Weidner, and many other companies, including generous support from Marcus & Millichap and Clyde and Rena Holland, for helping us create an endowment to serve our remarkable industry for many years to come,” added Mark Obrinsky, NMHC’s SVP for Research and Chief Economist.
More information about the NMHC Research Foundation, including how to donate, is available at nmhc.org/research-foundation.