Archive for February 2009
Download ENTRY FORM: 2009 Design Excellence Awards
The Design Excellence Awards presented by Multi-Housing News recognize outstanding multi-housing and mixed-use projects. Entries are judged based on a combination of criteria including aesthetics and functionality of exterior and interior architecture, design solution, overall cohesiveness of composition, and (when applicable) landscaping and curb appeal. Entries are due July 31 and will be judged by…
Read MoreTODAY’S DEAL: Arbor Closes Two Fannie Mae DUS Loans Totaling $5,164,500
By Anuradha Kher, Online News EditorKnoxville, Tenn. and Odessa, Texas–Arbor Commercial Funding LLC recently funded two loans totaling $5,164,500 under the Fannie Mae DUS product line. These loans include: • $3,680,000 under the Fannie Mae DUS product line for a portfolio in Knoxville, Tenn. This is a refinance of non-contiguous properties, Morningside Hills Apartments (pictured)…
Read MoreMULTI-HOUSING EXECUTIVES UPDATE: CPC Appoints Andrew Padian as VP of Energy Initiatives, and Other Moves
By Anuradha Kher, Online News EditorNew York–The Community Preservation Corporation (CPC) has appointed F.L. Andrew Padian (pictured) as vice president for energy initiatives. In his new role, Padian will assist in the implementation of a range of new energy efficiency projects at CPC. He will also train mortgage officers in identifying appropriate efficiency measures and…
Read MoreNWP Services Launches Training/e-Learning Product for Multifamily Clients
Irvine, Calif.–NWP Services Corp. (NWP) has launched Multifamily Training Central, a new Web-based training/e-learning product that delivers advanced training technologies and services to its multifamily clients. “This is comprehensive web-based training for our clients who are interested in enhancing their NWP on-site training experience and gaining the ability to offer their internal training in a…
Read MoreWorld’s Greenest Building on Track for 2010 Completion
By Erika Schnitzer, Associate EditorIndependence, Ore.—Independence Station, a 57,000-sq.-ft. mixed-use development, is on track to become the world’s greenest building with the highest LEED (Leadership in Energy and Environmental Design) rating ever awarded for new construction.At its completion, which is slated for early 2010, Independence Station is expected to earn between 64 and 66 points,…
Read MoreObama Increases HUD Budget And Restores Funding for Key Housing Programs
Washington, D.C.–With a total allocation of $47.5 billion for the housing sector, the President’s fiscal year 2010 budget restores and increases funding for many key U.S. Department of Housing and Urban Development (HUD) programs. In addition, the economic stimulus law already provides an additional $13.6 billion. These sums compare to the projected 2009 HUD budget…
Read More“Foong on Finance”: Three Economic Plans in Eight Days
A whirlwind of actions under the new Obama Administration. In quick succession, in the space of a little more than seven days, we have seen the following developments: (1.) Feb. 10: The announcement by Treasury Secretary Timothy F. Geithner of the White House’s financial rescue effort, the Financial Stability Plan, that will involve using the…
Read MoreTODAY’S DEALS: KeyBank Real Estate Capital Closes $9.5M Loan for Multifamily Property near Baltimore, and Other Transactions
By Anuradha Kher, Online News Editor Odenton, Md.–KeyBank Real Estate Capital recently closed a $9.5 million Freddie Mac loan for Riverscape Apartments (pictured) in Odenton, Md. KeyBank provided a supplemental loan to Riverscape Limited Partnership for the 280-unit Class A multifamily property built in 1999. Since the initial funding in 2004, the property’s performance has improved,…
Read MoreImproving Building Energy Profiles: What It Will Take
By Doug Bibby, president, NMHCAs Multi-Housing News reports nearly every month, concern over global climate change and national energy security continues to grow. Moving beyond automobiles, policymakers are now looking to the built environment for a solution to ever-increasing greenhouse gas emissions. Their reasoning is that “buildings are responsible for 70 percent of electricity use”…
Read MoreQ&A with Pam Monroe: To Remain Relevant IREM Must Have International Presence
Pam Monroe (pictured) is the president of the Institute of Real Estate Management (IREM) as well as Community Realty Management Inc.’s senior vice president. She has overseen properties throughout the Southeast, in Texas, Oklahoma, New Jersey, Pennsylvania, Maryland, Virginia and the Virgin Islands. She has managed all types of multifamily housing—including conventional properties, Low Income…
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