Archive for September 2008
Create an Upbeat, Can-Do Workforce and Dazzle Residents
el good. You can’t be depressed when you are smiling, and smiles are contagious. So, smile. As a manager, as a leader, it’s your responsibility to help to create an experience for your customer – your valuable residents – that has the word “value” all over it. Customers respond better to a company that provides…
Read MoreTODAY’S DEALS: Connecticut Apartment Portfolio Fetches $75M, and Other Transactions
By Anuradha Kher, Online News Editor, MHN and Barbra Murray, Contributing Editor, CPNMiddletown, Conn.–Chestnut Hill and Northwoods Apartments, two multifamily communities accounting for an aggregate 650 residences in Middletown, Conn., have just come under new ownership. Entities operating as Northwoods Apartment Associates L.L.C. and Chestnut Apartment Associates L.L.C. took the two Class A properties, located…
Read MoreSales Begin for Phase Two of Williamsburg Development
By Erika Schnitzer, Associate EditorNew York–Sales have begun at Two Northside Piers, a new 30-story, 270-unit waterfront condominium community in Brooklyn’s Williamsburg neighborhood. The tower, which is being developed through a joint venture of Toll Brothers City Living, RD Management LLC and L&M Development Partners, and designed by FXFowle Architects, is the second phase of…
Read MoreMulti-Housing Groups Regret House Rejection of $700B Bailout Package; Possibility of ‘Housing Depression’ Cited
By Anuradha Kher, Online News Editor and Keat Foong, Executive EditorWashington, D.C.–Multi-housing groups regret the House’s rejection yesterday of the $700 billion package to provide the financial markets with much needed liquidity. While citizens across the nation appear so far to be opposed to what they see as the plan’s bailout of Wall Street, multi-housing…
Read MoreForeign Investment in US M-F Might Slow Down in Short Term Due to Wall St. Crisis
By Anuradha Kher, Online News EditorNew York–Some of the largest financial institutions in the United States have been merged, acquired or have filed for bankruptcy in the last couple of weeks. With yesterday’s rejection of the $700 billion bailout package, concern about availability of credit, which has already been scarce, has deepened further. While multifamily…
Read MoreDeveloper Expresses Concern Regarding Less Credit Availability in Industry; Says Apartment Market Already Softening
By Keat Foong, Executive Editor and Anu Kher, Online Editor Reno, Nev.—Like everyone else, multi-housing owners and developers are alarmed by yesterday’s plunge in the stock markets. “I am concerned,” said Bob Nielsen, president of multi-housing developer Shelter Properties Inc., and vice chairman and secretary of the board of the National Association of Home Builders.…
Read MoreEDITOR’S NOTE: Storm Surges
By Teresa O’Dea Hein, Managing EditorThe fallout from natural and man-made storms continues to swirl around us. Between the hurricanes and the continuing upheavals in the financial world, these truly are unsettled times. While I’d planned on writing about a different topic, yesterday’s historic plunge on Wall Street compelled me–and perhaps you, too?–to explore safe…
Read MoreHouse Rejects Bailout Package
By Keat Foong, Executive Editor We are going from crisis to crisis. The House voted down the $700 billion bailout plan, and the Dow Jones Industrials plunged by 777.68, or nearly 8 percent—its worst drop in two decades. In the immediate aftermath, it looks as though banks’ short term interest rates are spiking. That means…
Read MoreProperty Management: Retaining Residents by Building a Sense of Community
By Daniel Babka, president, Rental Marketing SuccessThe top amenity desired by residents (according to recent studies by the National Multi-Housing Council and the National Apartment Association) isn’t a granite counter-top, six-panel doors and crown molding. It’s a sense of community: a feeling of belonging that cuts across luxury, A, B and C-grade properties.Yet once they…
Read MoreAlbanese’s Visionaire Awarded Grand Prize in N.Y. Green Building Competition
By Erika Schnitzer, Associate EditorNew York–The Visionaire condominium and Battery Park Conservancy’s maintenance facility were selected as the grand prize winners of New York’s 2008 Green Building Competition, co-sponsored by the U.S. Environmental Protection Agency (EPA) and the New York City Mayor’s Office of Long-Term Planning and Sustainability.Developed by Garden City, N.Y.-based The Albanese Organization…
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