Scott Brown’s Impact on the Apartment Industry

The Impact of Scott Brown on the Apartment Industry

Digested From "What Brown Will Do for the Apartment Industry" (taken from NAA’s Industry Insider)

Many apartment industry professionals are reacting to Scott Brown's recent stunning and decisive election victory in Massachusetts, which gives Republicans a 41st member in the U.S. Senate and basically allows the GOP to filibuster legislation through a party-line vote. Jim Arbury, Senior Vice President, Government Affairs, for the National Multi Housing Council (NMHC), remarks: "It is amazing how one Senate seat can change the entire political landscape. . . . The shift in legislative power will have a huge impact on many of the issues of concern to the multifamily industry." Peter Donovan, senior managing director at CB Richard Ellis' Boston office, comments, "Being a Massachusetts resident, the effect in our state is seismic. Brown was 30 points behind Coakley and carried little name recognition. But in 60 days he went from being the obligatory Republican opposition candidate to mobilizing the state." Outside of the state, Dallas-based Riverstone Residential CEO Terry Danner was similarly stunned. He stated, "From a property management perspective, in listening to Brown’s acceptance speech, he is a proponent of small business. Democratic initiatives surrounding Card Check and Carried Interest have suffered blows because they will now need major revisions that could go in our industry's favor or be dismissed altogether."

It seems like apartments in Massachusetts and all across the country will definitely be affected by the Senator Scott Brown.