Archive for April 2008
YOO by Starck’s First Project in Uruguay to be Ready by Mid-2009
By Anuradha Kher, Online News EditorPunta del Este, URUGUAY–YOO Punta del Este, the $20 million project developed and designed jointly by YOO and K-Group Holdings, has sold 90 percent of all its units. YOO by Starck’s first project in Uruguay, Punta del Este is expected to be ready for occupancy by mid-2009.The 150-unit, 22-story luxury…
Read MoreFood and Wine Themed Rental Community Opens in Phoenix
By Erika Schnitzer, Associate EditorPhoenix– Tempe, Ariz.-based Trillium Residential LLC has opened its 292-unit Trillium Cave Creek in Phoenix. Move-ins begin May 3.The garden-style apartment community features a food and wine theme and includes a Chef’s Demonstration Kitchen that will host guest chefs, as well as a custom temperature-controlled wine storage room for residents.“What we’re…
Read MoreJig-A-World’s New Wall Repair Kit
Jig-A-World’s new wall repair kit in a can unites three key elements needed for wall repair and paint preparation: spackle, putty knife and sanding pad. Jig-A-Patch shortens preparation times and reduces mess as it fixes cracks and holes in walls.Jig-A-Patch can be used in three easy steps. Spray Jig-A-Patch spackle into damaged area and wait…
Read MoreHousing Slump Hasn’t Hurt the Gaming Market
Back in March, we reported that the prolonged housing decline hadn’t affected the popularity of home improvement shows–in fact, TLC was coming out with six new ones this season. And now, the Chicago Tribune says that while consumers may not want to buy homes, we still want to play with them. Take for example, "Build-a-lot,"…
Read MoreMulti-Housing Executives on the Move
By Anuradha Kher, Online News EditorCatherine Cabell Joins Altman Management CompanyBoca Raton, Fla.–Catherine Cabell has been appointed senior vice president of southeast operations with Altman Management Co. (AMC), where she will oversee the management for all the south division communities in Florida, North Carolina, Tennessee and Texas.Cabell formerly served as SVP with Trammell Crow Residential…
Read MoreDEAL OF THE DAY: 15-Story Oklahoma City High Rise Sold for $3.23M
By Anuradha Kher, Online News EditorOklahoma City, Okla.–Sperry Van Ness recently completed the sale of Lakeview Towers, a 15-story/192-unit apartment community located at 6001 North Brookline in Oklahoma City, Okla.Boston-based Lakeview Towers LLC purchased Lakeview Towers, the last of a 775-unit, three-property 501c3 tax-exempt bond portfolio, for $3.23 million.Lakeview Towers, one of only a few…
Read MoreEconomists at NAHB Conference Predict Housing Recovery Won’t Happen Until 2009
Washington, D.C.–Economists speaking at a National Association of Home Builders-sponsored conference in Washington, D.C. on Thursday said that the residential building and housing markets will be troubled throughout the end of 2008.The housing decline helped force the U.S. economy into a recession that will last through June, economists said. They also predicted that the credit…
Read MoreCountrywide CEO Made $10.8 Million, Cashed Out More Than $120 Million in Stock in 2007, According to SEC
Calabasas, Calif.–Angelo Mozilo, chief executive of Countrywide Financial Corp., was paid a $10.8 million salary and cashed out $121.5 million in stock gains last year as the company crumbled, according to a Securities and Exchange Commission filing made public Thursday.The CEO’s 2007 salary was an 80 percent reduction from 2006, when his salary, stock, pension…
Read MoreHouse Financial Services Committee Chairman Forecasts Longer Recession if Housing Issues Aren’t Resolved
Washington, D.C.–Barney Frank, the Democratic chairman of the House financial services committee, told reporters Thursday that the U.S. recession would be “longer and deeper” than anticipated if lawmakers and the Bush administration didn’t come to terms on new housing legislation.Along with Chairman of the Senate Banking Committee Chris Dodd, Frank is encouraging a proposal that…
Read MoreHousing Discrimination Lawsuit Filed Against Famed New York Real Estate Firm
New York–A class action suit was filed in federal court in Brooklyn on Thursday accusing Brown Harris Stevens–one of New York’s oldest real estate firms–of housing discrimination, the New York Times reports.The suit alleges that Brown Harris steered at least one couple away from apartments where children weren’t welcome and attempted to persuade an undercover…
Read More