Archive for June 2008
Multi-Housing Executives on the Move
By Anuradha Kher, Online News EditorLee & Associates-Riverside Launches New Inland Southern California Apartment Group with Three New EmployeesRiverside, Calif.–Lee & Associates-Riverside recently opened its new Inland Southern California Apartment Group, which comprises John P. Kalmikov, CCIM, Dean P. Washle and Chris Riggs. Riggs, Kalmikov & Washle (pictured l-r) join the firm with a combined…
Read MoreDEAL OF THE DAY: Boston Capital Invests over $8M in To-Be-Built Seniors Housing Development
By Anuradha Kher, Online News EditorLawrence, N.J.–Boston Capital recently invested $8,229,843 in equity financing for Heritage Village at Lawrence Apartments, a to-be-built, 64-unit seniors housing development in Lawrence, N.J.The general partner is Community Investment Strategies Inc. “Heritage Village at Lawrence Apartments provides us with a great opportunity to serve a demand for multifamily housing for…
Read MoreEarth Advantage, Countrywide Partner on Discounted Rate Program for Green Homebuyers
By Lisa Iannucci, Green Building CorrespondentPortland, Ore.–Slowly, more mortgage companies are coming on board to offer discounted rate programs to homeowners who are interested in investing in green homebuilding. Earth Advantage Inc., a nonprofit corporation and homebuilding source for sustainable and climate solutions located in Portland, Ore., has partnered with Countrywide Home Loans, a division…
Read MoreDranoff Breaks Ground on Philly’s First LEED-Registered Residential, Mixed-Use Building
By Anuradha Kher, Online News EditorPhiladelphia–Dranoff Properties broke ground yesterday on 770 South Broad, Philadelphia’s first LEED-registered residential, mixed-use building.Philadelphia Mayor Michael Nutter, City Councilman Frank DiCicco and Delaware Valley Green Building Council Chairman of the Board Dan Garofalo were present at the groundbreaking along with the developer.The five-story project will feature 146 luxury loftstyle…
Read MorePerspective: Tomorrow’s M-F Kitchen Trends (Part I of II)
By Kevin Henry, NYLOFT KitchensUnlike any other kitchen show on the planet, Milan-based Eurocucina played host this April to over 300,000 visitors from over 140 countries. With over 140 exhibitors, all pushing the boundaries of modern kitchen design; Eurocucina has proved itself the “Mecca” for global kitchen design.Upon arriving at Eurocucina, along with 300,000 designers,…
Read MoreCross-Industry Campaign Aims to Provide $4B to Help Communities Affected by Foreclosures
By Anuradha Kher, Online News EditorColumbia, Md.–A group of cross-industry organizations, including Enterprise Community Partners, Low Income Investment Fund and National Association of Local Housing Finance Agencies, have come together to form the “Save America’s Neighborhoods” campaign. The campaign is urging Congress to include a provision for a minimum of $4 billion in emergency grants…
Read MoreNew York City’s Rent Rise Pits Owners Against Renters
New York City’s rental market is legendary: Because buying a home within city limits is so expensive, the city has long been a renter’s market. But now–thanks to new rent increases, which the board in charge of New York City’s rent-stabilized apartments passed yesterday–renters may find their cost of living is about to rise. New…
Read MoreNew Program Announced to Help New York Homeowners Prevent Foreclosure
New York–A new program unveiled Wednesday by New York’s chief judge could help save homes about to fall into foreclosure in the state, the New York Times reports. Under the plan, a new section of the court would be created to help lenders and borrowers reach a settlement more quickly. Foreclosure notification times would drastically…
Read MoreU.S. Unemployment Falls Slightly–But Remains High
Washington, D.C.–Although the number of workers submitting new unemployment benefit claims declined slightly last week, the previous week’s large increase suggests that the U.S. labor market is still struggling, according to The Wall Street Journal. Continuing claims lasting more than one week stayed above the three million mark for the eighth consecutive week–which indicates it’s…
Read MorePaulson Calls For Fed Regulation of U.S. Financial Markets
Washington, D.C.–Treasury Secretary Henry Paulson is pushing for the Federal Reserve to play a bigger role in monitoring the U.S. financial system, CNNMoney.com said Thursday.In remarks released before Paulson’s speech at a luncheon in Washington, D.C. Thursday, Paulson encourages the country to overhaul the regulation of its financial system as soon as possible.His plan–which would…
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