Archive for July 2008

By Anuradha Kher, Online News EditorNew York–The Community Preservation Corp. (CPC) recently provided a $1.104 million loan for the full rehabilitation of two attached three-story buildings (pictured) in Harlem, New York. The loan was financed under CPC’s Small Building loan program, which provides borrowers with reduced costs, faster processing, comprehensive technical support and other incentives. The two…

By Anuradha Kher, Online News EditorCanton, Mass.–In an effort to sell its condos in a turbulent real estate market, Davenport Investments II LLC, recently launched a contest giving people the opportunity to win a two-bedroom condo at Canton Park Condominiums (pictured) in Canton, Mass. Davenport came up with the idea of the contest as a…

By Anuradha Kher, Online News EditorFlanders, N.J.–Mt. Olive Manor’s Phase II, a 50-unit federally subsidized affordable housing project in Flanders, N.J., opened recently. It is located adjacent to the 60-unit first phase of the project.Del-Sano served as the general contractor for the $8.9 million project, which was funded largely through the Section 202 HUD program.…

W. Dean Henry (pictured) is president of Legacy Partners Residential Inc., where he oversees the multifamily portfolio spanning across Northern and Southern California, Arizona, Colorado, Washington and Texas. During his career, Henry has been responsible for the development of more than 50,000 multifamily units.He joined Legacy Partners in 1973 after graduating from the University of…

By Erika Schnitzer, Associate EditorObzor, BULGARIA–The second phase of yooBulgaria, a 350-unit luxury condominium located along the beach on the Black Sea Coast in Obzor, Bulgaria, will launch this month. The first phase of the development, which consists of 257 units, is now 85 percent sold and will be complete before the end of the…

By Anuradha Kher, Online News EditorRockford, Springfield, Ill.–Sperry Van Ness recently arranged the sale of two apartment communities in Illinois totaling $10.5 million.An out of state investor, in conjunction with two Illinois limited liability companies, recently purchased the Briargate Apartments in Rockford, Ill. for $8.3 million. The property was built in 1991 and consists of…

By Erika Schnitzer, Associate EditorMiami–LAB Developers has received approval from the City Commission for their two-tower condominium complex, Kubik (pictured), as long as the firm reduces the project’s height. For over four years, the firm has been involved in a lawsuit against some neighbors who have taken issue with the height of the tower.On June…

By Rachel Block, ReporterPhiladelphia–The Residences at Dockside, a pet-friendly community located in Philadelphia, has joined the Philadelphia Animal Welfare Society (PAWS) for an event, in an effort to assist in helping homeless and abandoned animals find placement in decent homes.”The Residences at Dockside has been a pet-friendly community from thebeginning,” says Victoria Teschner, director of…

By Anuradha Kher, Online News EditorPalos Park, Ill.–The Catholic Charities Housing Development Corp. recently broke ground on St. Francis of Assisi Residence at the Holy Family Villa Campus in Palos Park, a suburb of Chicago. Designed by Harley Ellis Devereaux, the St. Francis of Assisi Residence will feature 81 independent living apartments.The project features one-bedroom…

By Anuradha Kher, Online News EditorIrvine, Calif.–Chicago-based Laramar Group has opened an office in Irvine, Calif. The office will be dedicated to pursuing value-add multifamily assets throughout the state, with an emphasis on the Bay Area and southern California, as part of the company’s strategy to acquire and manage such investments nationwide. Laramar’s first acquisition…