By Erika Schnitzer, Associate EditorWashington, D.C.—Proposed Standard 189.1P: Standard for the Design of High-Performance Green Buildings, Except Low-Rise Residential Buildings (SPC 189.1P), which will apply to all buildings that are four stories and higher, is being created by ASHRAE (American Society of Heating, Refrigerating and Air-Conditioning Engineers), the Illuminating Engineering Society of North America (IESNA), [...]

By Erika Schnitzer, Associate EditorWashington, D.C.—David M. Johnson has been appointed executive vice president and chief financial officer of Fannie Mae by Herbert M. Allison, Jr., the company’s CEO.“With his broad and deep financial services and capital markets experience, David will help lead Fannie Mae as we assist the market during this unprecedented correction and [...]

By Teresa O’Dea Hein, Managing Editor San Jose, Calif.–Residents have begun moving into The 88, San Jose’s newest and tallest high-rise residential tower, which was just honored as “Design Project of the Year” in the Silicon Valley/San Jose Business Journal’s annual Structures Awards.Named for both its address, at 88 E. San Fernando St., and its height, [...]

By Keat Foong, Executive EditorThe apartment sector had been holding out relatively well compared to other industries, but it too will succumb to the massive loss of jobs that is expected to accelerate as we go into 2009. Through the third quarter, the national apartment vacancy rate according to the Census Bureau was 10.7 percent, [...]

By Erika Schnitzer, Associate EditorReno, Nev.—Sperry Van Ness recently completed a $56 million sale of Montebello at Summit Ridge, a 450-unit luxury apartment community.Michael Miyagishima, CCIM of Sperry Van Ness in San Francisco, and Dewey Struble, CCIM of Sperry Van Ness in Reno, Nev., represented the buyer, while Marcus & Millichap represented the seller, I [...]

By Keat Foong, Executive EditorWashington, D.C.—The severity of the financial crisis may have done its part in scaring off homebuyers in October. Sales of existing condominiums and cooperatives fell 1.8 percent in October, according to the National Association of Realtors (NAR). Total existing home sales, including single-family homes, fell 3.1 percent to a seasonally adjusted [...]

By Teresa O’Dea Hein, Managing EditorChicago—The wide array of career opportunities in real estate management are detailed in a new, 25-page brochure published by the Institute of Real Estate Management (IREM). Written in a fresh, upbeat style, this comprehensive brochure describes what the different jobs in real estate management entail, what the market opportunities are, [...]

By Keat Foong, Executive EditorWashington, D.C.— President-elect Barack Obama’s introduction this week of his economic team and his call for swift action to adopt an economic stimulus plan were welcomed by the National Leased Housing Association (NLHA).Denise Muha, executive director of NLHA, which represents affordable housing owners and managers, said that “bold action” is needed [...]

By Erika Schnitzer, Associate EditorNew York—Standard and Poor’s has launched a new index to track condominium prices in five major U.S. metropolitan areas—Boston, Chicago, New York, San Francisco and Los Angeles. The indices will include historical data beginning in January 1995.“Having access to a broader range of indices will allow property owners, investors and others [...]

By Erika Schnitzer, Associate EditorArlington, Va.—Ed Peete Company’s Zoso Flats, a 114-unit loft-style apartment community in Arlington, Va., has opened its resident lounge and fitness center. Leasing and move-ins are currently underway.Denver-based Simpson Housing LLLP is currently managing Zoso Flats and will be purchasing the development from Ed Peete Company.The project was originally intended to [...]