In this week’s CxO newsletter, we look at the UN Water Conference, how beverage companies dealt with Monterrey’s historic drought and more. by dianebrady
in Henderson, Nevada, the asset manager is developing “attainable, sustainable and technology-enabled” multifamily housing in “climate-stressed” areas.
The reason, he says, is simple: The Southwestern United States is where most of the growth is happening today–from TSMC’s $40 billion chip plant in Arizona to Samsung’s potential $191 billion investment in Texas. That’s also where you already find the greatest imbalance in supply and demand for workforce rental housing that’s affordable to people whose incomes hover around the median in those regions.
The result will be intense demand for development in cities like Las Vegas, Phoenix and Albuquerque, which are experiencing profound impacts from climate change. MultiGreen’s hometown water companylast year after Lake Mead dropped to “failure elevation” in July. As Norton wrote in an email to me last night: “Here in the desert, water will become more expensive than power .”
Norton wants MultiGreen to be at the forefront in developing affordable rental properties that happen to be cutting edge when it comes to meeting sustainability metrics. That means literally building from the ground up. One example: a public-private partnership with the City of Henderson on a $10.1 million infrastructure project that is needed to make a 336-unit multifamily project viable.
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