Archive for July 2008
Hansgrohe Introduces Low-Flow Versions of Croma 100 Series
Hansgrohe recently introduced low-flow versions of its Croma 100 showerheads and handshowers. The Croma C 100 3-Jet Handshower and Showerhead are more traditional, with decorative bell-shaped heads. The Croma E 100 3-Jet series is streamlined and transitional. The spray channels of both series utilize silicone, which is designed to repel the buildup of lime scale…
Read MoreNMHC Study Suggests Foreclosure Crisis Will Not Threaten Financial Health of Apartment Sector
By Anuradha Kher, Online News EditorWashington, D.C.–Homeowners of foreclosed properties have not been flocking to the apartment sector, according to new research by the National Multi Housing Council (NMHC). As a result, the credit quality of prospective renters is holding steady, suggesting that the foreclosure crisis is not spilling over to threaten the financial health…
Read MoreNew York City to Get Automatic Water Meters
By Anuradha Kher, Online News EditorNew York–The Department of Environmental Protection will install a wireless, automatic meter-reading system across New York City, costing $68 million. The effort to modernize the city’s water meters is expected to help save money and water by flagging leaks fast.The network will measure customers’ water use four times a day.…
Read MoreDranoff Properties Offers Free Smart Car to Buyers
By Erika Schnitzer, Associate EditorPhiladelphia–In a move to relieve some of the pressure increased gas prices has caused for commuters, Philadelphia-based Dranoff Properties is offering a free Smart Car for those who purchase the remaining residences at its luxury condominium Symphony House.”Many residents choose to have cars, so Dranoff Properties is challenging future residents to…
Read MoreQ&A with Dr. Catherine L. Ross: Shrinking Footprint of American Home Offers Greater Potential for Multifamily Developers
Dr. Catherine L. Ross is the first executive director of the Georgia Regional Transportation Authority. She has extensive experience in transportation and urban planning, and organizational management consulting for both the public and private sectors. She is an internationally known transportation planner with experience in conducting transportation planning, urban and regional planning, quality growth and…
Read MoreGreen Building Grows In California—And The Multifamily Market
Last week, California became the first U.S. state to issue a mandatory green building code that will require energy efficiency and less water consumption. Regulations for single-family, multifamily and commercial structures are also part of the new code. It was a big move for the golden state, and a popular one–the California Building Standards Commission…
Read MoreFinalists Selected for MHN’s First Annual Green Initiative Awards
By Erika Schnitzer, Associate EditorThe finalists have been chosen for MHN’s First Annual Green Initiative Awards. Products, services and corporate initiatives were chosen based on progress toward advancing green ideals.The panel was comprised of five judges who have demonstrated an understanding of sustainability in the multifamily industry. The panel included Tim Button, a partner at…
Read MoreBush Drops Resistance to Housing Bill; House Expected to Vote Today
By Erika Schnitzer, Associate EditorWashington, D.C.–Despite his objections over a $3.9 billion provision that would assist communities devastated by foreclosures, President George W. Bush today dropped his opposition to housing rescue legislation. He was previously threatening to veto the legislation.The housing rescue package, which the House of Representatives is expected to vote on today, outlines…
Read MoreHUD Modernizes FHA with LIHTC Program
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development (HUD) recently issued the Mortgagee Letter 2008-19, streamlining the processing of Federal Housing Administration (FHA) multifamily insurance applications with Low Income Housing Tax Credits (LIHTC).The Mortgagee Letter includes important changes to FHA processing, which will provide flexibility and cut costs, making…
Read MoreDEAL OF THE DAY: GPX Completes $3.6M Capital Improvement Plan for Stillwell Apartment Portfolio
By Anuradha Kher, Online News EditorHaverford, Pa.–GPX Realty Partners L.P. recently completed a $3.6 million capital improvement program across its Stillwell Apartment portfolio. The portfolio consists of five communities totaling 309 units across 20 buildings and is located in Montgomery and Delaware counties, Pa. GPX Realty Partners acquired the portfolio last June.The capital improvements made…
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