Archive for May 2008

By Erika Schnitzer, Associate EditorBoston–As the first major U.S. city to mandate green building guidelines for private developments, the city of Boston is looking toward the future with a number of additional eco-friendly initiatives, as well as setting a standard which other cities can follow.Boston is leading by example in terms of energy efficiency, renewable…

By Anuradha Kher, Online News EditorTroutdale, Ore./Walla Walla, Wash.–Hendricks & Partners recently arranged the sale of two properties located in the Northwest region of the U.S. Hampton Heights, a 64-unit apartment community located at 496-628 SW 257th Ave. in Troutdale, Ore., was sold for $4.8 million and Centennial West a 62-unit apartment community located at…

Washington, D.C.–Giving hope to the industry, new home construction rose 8.2 percent last month–due mostly to multifamily housing, the Commerce Department said Friday.Single-family home groundbreakings fell to a 17-year low–dropping from seasonally-adjusted annual rate of 704,000 to 692,000, the New York Times said.Housing starts increased to a seasonally adjusted annual rate of 1.032 million. Multifamily…

Washington, D.C.–U.S. homebuilder confidence registered at just one point above its lowest-ever level in May, according to the National Association of Home Builders.The NAHB’s housing market index was 19 in May–after registering at 20 from February through April, the San Jose Mercury News said Friday.The May reading was the second lowest on record for the…

Frankfurt–The Frankfurt, Germany-headquartered European Central Bank expressed concern on Thursday about banks taking advantage of its efforts to unfreeze funding markets by abusing its liquidity plan to offload more risky assets than it had planned, the Financial Times said.Because signs persist that some banks are fashioning low-rated assets in order to trade them for treasuries…

Washington, D.C.–Fannie Mae will eliminate a policy that requires homeowners to provide a higher down payment in areas where home values are falling, The Wall Street Journal reported Friday.The National Association of Realtors, National Association of Home Builders and organizations encouraging affordable housing for low-income residents have urged the Washington, D.C.-based agency to change its…

By Anuradha Kher, Online News EditorG. Reid Teaney Becomes SVP of ARA Chicago OfficeKansas City, Mo.–Atlanta-headquartered Apartment Realty Advisors (ARA) has hired G. Reid Teaney as senior vice president of ARA’s Kansas City office.In this new role, Teaney will work in the ARA central office, located in Kansas City, Mo., and will work together with…

By Anuradha Kher, Online News Editor    Irvine, Calif.–Shea Properties, based in Aliso Viejo, Calif., has started the leasing and move-in process at Calypso Apartments and Lofts, a 177-unit urban boutique rental community in Irvine, Calif.The four-story wrap configuration building is situated on 3.67 acres at the intersection of Jamboree Road and Alton Parkway. Designed with…

Pella Doors and WindowsPella’s new collection of windows and doors, called the designer series, features optional blinds, cellular shades, decorative panels and removable grilles between panes of glass, protected from dust and damage, thus reducing lifecycle costs associated with the maintenance and replacement of room side blinds and shades. Designer series windows and doors reduce…

Pleasanton, Calif.–Congressman Jerry McNerney, D-Pleasanton, has written legislation to change the current Freddie Mac, Fannie Mae and Federal Housing Administration loan limits permanently, the San Jose Mercury News reports.The single-family home loan limits were raised until the end of the year to $729,750 as part of the Economic Stimulus Package to help homeowners in high-cost…