Archive for June 2008
Introducing the Judges for MHN’s First Green Initiative Awards
The judges for MHN’s first annual Green Initiative Awards have been chosen. They were selected based on their experience with and knowledge of sustainability within the multifamily industry.Tim Button, Partner, Stedila Design Inc.For the past 29 years, Tim has been a partner at Stedila Design Inc., a New York-based interior design firm founded in the…
Read MoreAnnual Los Angeles Architects Awards to be Presented June 19
By Erika Schnitzer, Associate EditorLos Angeles—The winners of the 38th Annual Los Angeles Architecture Awards will be announced on June 19 at the Beverly Hilton International Ballroom in Beverly Hills.The Los Angeles Business Council (LABC) will recognize 30 project teams in 16 architectural and building categories, including Green Building, Housing and Mixed-Use.The Green Building Award…
Read MoreBanks Face Tough Times if Residential Construction Loans Go Bad
Charlotte, N.C.–Wachovia is the second-largest construction loan provider, which may put the lender–and other banks–in a dangerous position as the housing market continues to falter, The Wall Street Journal reports.At the end of the first quarter, Charlotte, N.C.-based Wachovia had $23.9 billion of debt outstanding to single-family home, condominium, office building, store and other commercial…
Read MoreSecond Quarter Toll Brothers Sales Drop 31.8 Percent; Company Urges Government to Restart the Market
Horsham, Pa.–Even though luxury homebuilder Toll Brothers announced fiscal second quarter net losses that were lower than many analysts had expected, the company called for Congress to help invigorate the housing market, Forbes reported Wednesday.Toll Brothers chief executive Robert I. Toll said that in “this continuing severe down-cycle,” the builder would look for growth opportunities…
Read MoreHovnanian Posts Second Quarter Loss; Expects Solid Year
Red Bank, N.J.–U.S.-based homebuilder Hovnanian Enterprises said Tuesday that its fiscal second quarter loss was 10 times greater than a year earlier. However, Hovnanian, headquartered in Red Bank, N.J., said it had enough liquidity to handle the lower demand and plans to stay cash-flow positive for the entire fiscal year, CNBC reported Wednesday.Hovnanian announced a…
Read MoreNew York General Contractors, City Considering Ways to Increase Crane Safety
New York–Some of New York’s largest general contractors are contemplating hiring external inspectors to increase tower crane safety as a result of last Friday’s fatal construction site crane collapse, the New York Times reported Wednesday.The city uses about two dozen tower cranes, and the current Department of Buildings inspections–as well as separate inspections by crane…
Read MoreUsing Architectural Branding to Make Your Project Speak
By Gordon R. Carrier, Founding Member and Design Principal, Carrier Johnson + CULTUREJust because they’re inanimate doesn’t mean buildings can’t speak. In fact, their non-verbal voices evoke powerful human emotions about “home.” Where and how we live is an expression of our personality, hopes, fears, aspirations and sense of community. To be successful in this…
Read MoreDEAL OF THE DAY: Boston Capital Invests $11.44M in New 146-Unit Development
By Rachel Block, ReporterForth Worth, Texas–Boston Capital recently invested $11,440,000 in the Residences at Eastland in Forth Worth, Texas, a 146-unit community planned to be built about six miles southeast of Forth Worth’s major business district. The general partner on this deal is an affiliate of The NuRock Cos.The forthcoming development is targeted at low-income…
Read MoreRULES & REGS: Mass. Governor Signs Investment Bill for Affordable Housing
By Erika Schnitzer, Associate EditorBoston–Massachusetts Governor Deval Patrick has signed into law the state’s largest housing bond authorization, which will help fund the Commonwealth’s many housing and community development projects.“This is an investment in the future of the Commonwealth, both for the residents and for long-term economic prosperity,” says Phil Hailer, the spokesman for the…
Read MoreWachovia CEO’s Ouster is Sign of Changing Times on Wall Street
By Anuradha Kher, Online News EditorCharlotte, N.C.–The firing of Wachovia’s CEO indicates the changing times in the financial markets, according to Ernie DesRochers, senior vice president and managing director of NorthMarq Capital. “There is disciplined underwriting in the market today. Where once the glass was viewed as half full, today it is viewed as half…
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