Archive for July 2008
Indoor-Outdoor Lounger from Barcelona-based Grupo Kettal
The Kettal XXL indoor-outdoor furniture collection from Barcelona-based Grupo Kettal is designed to combine comfort with adaptability. The individual components of the series, which include a wide variety of armchairs, lounge chairs and tables, are made from aluminum tubes covered in colorfast artificial fiber to withstand the outdoors. The collection, comprised of individual modules, can…
Read MorePerspective: Ride the Green Wave
By Lynn Russell, CGP and Danielle Pruette FMI CorporationMother Nature and global economics are giving us strong hints that green is good. Water shortages, rising fuel costs and deficient infrastructures encourage us to examine the value of conservation and reduction in energy requirements. What would it take you to jump onto the green wave? What…
Read More$7.8M Investment to Help Big Six Towers Remain Affordable
By Anuradha Kher, Online News EditorNew York–The AFL-CIO Housing Investment Trust (HIT) has committed to invest $7.8 million in the Big Six Towers, a cooperative housing complex in Queens, New York with long ties to the labor movement. The investment will allow the complex to remain affordable for middle-class working families and retirees.Approximately one-third of…
Read MoreSafe-T-element: A Fire Prevention System
Pioneering Technology’s Safe-T-element is an affordable fire prevention system for the electric stove. It minimizes the risk of fire with round, cast iron plates that fit over each burner, plus individual controllers to regulate temperature. The cast iron plates over the burners and internal controllers keep heat from exceeding 662°F, below the point where the…
Read MoreFore Begins Construction on 300-Unit Upscale Project
Sparks, Nev.–Fore Property Co. (FORE) recently started construction on a 300-unit luxury apartment community in Sparks, Nevada.Located in the Spanish Springs area of Sparks, FORE’s newest luxury apartments will be built on a 20-acre parcel in the Pioneer Meadows master-planned community.“FORE has a longstanding history of developing and building apartment communities throughout Nevada,” says Jonathan…
Read MoreFirst Advantage SafeRent Releases MAR Index
By Anuradha Kher, Online News EditorRockville, Md.–First Advantage SafeRent Inc. released its second quarter 2008 multifamily applicant risk statistics. The Multifamily Applicant Risk Index (MAR Index) is based on traffic quality scores from First Advantage SafeRent’s statistical screening model and is updated quarterly to provide property owners and managers with a benchmark they can use…
Read MoreDEAL OF THE DAY: 270-Unit Apartment Building Acquired for $17M
Hartford, Conn.–MATP LLC recently acquired the 270-unit apartment building at 600 Asylum Ave. in Hartford, Conn. from Capitol Garden LLC for $17 million, or about $62,963 per unit.The 10-story, 227,500-sq.-ft. building, known as Morgan at the Park, is on 1.27 acres. It was built in 1955 and has about 82 parking spaces. The building also…
Read MoreMulti-Housing Executives on the Move
Pinnacle Appoints New PresidentSeattle–Pinnacle President and CEO Stan Harrelson has named Rick Graf as his successor. Graf is currently Pinnacle’s central region president, responsible for a management portfolio of over 60,000 multifamily units throughout the south central and midwestern regions of the United States.Harrelson will continue on in his role as CEO, guiding the company…
Read MoreCondo, Co-op Sales Rise 1.7 Percent in June
By Anuradha Kher, Online News EditorWashington, D.C.–Existing condominium and co-op sales rose 1.7 percent to a seasonally adjusted annual rate of 590,000 units in June from 580,000 in May, according to the National Association of Realtors’ (NAR) latest report. This figure is 19.7 percent below the 735,000-unit level a year ago. The median existing condo…
Read MoreAtlanta-Based Resort-Style Property Obtains FHA-Loan Approval Status
By Erika Schnitzer, Associate EditorAtlanta–Villa Sonoma, a 321-unit resort-style condominium, has obtained FHA-loan approval status. Since the property received approval, 50 percent of the loans have been FHA loans.”For buyers, FHA approval of the site essentially facilitates the home purchasing process by creating relaxed conditions to obtain a mortgage,” explains Collin Ellingson, senior vice president…
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