Archive for July 2008
Are You at Risk for a Multi-Million Dollar ADA or FHA Lawsuit?
om its architect, developer, contractors and other responsible parties, but many large property owners have strong relationships, ongoing projects or future projects planned with such constituents and cannot risk upsetting those relationships. Capturing remediation-related costs can be complex and recovery difficult, requiring experienced legal and financial counsel.Monitoring and Compliance ProgramsFor large property owners seeking to…
Read MoreHistoric Hotel Converted to 17-Unit Community for Homeless, Recovering Mental Patients
By Anuradha Kher, Online News EditorLong Beach, Calif.–The city of Long Beach, along with Clifford Beers and Enterprise Investment Community, recently opened Elm Avenue Apartments at 530 Elm Ave.Elm Avenue Apartments, a former historic hotel, is now a 17-unit affordable housing project, with a portion of the units being set aside for individuals who have…
Read MoreDEAL OF THE DAY: Hendricks & Partners Arranges $16.9M Sale of Washington State Apartment Community
By Anuradha Kher, Online News EditorVancouver, Wash.–Hendricks & Partners recently completed the sale of Polo Club, a 200-unit apartment community located at 4820 NE Hazel Dell Avenue in Vancouver, Wash., for $16,900,000.Constructed in 1996, Polo Club features 193,404 rentable square feet with a mix of one-, two- and three-bedroom apartments averaging 967 sq. ft. Community…
Read MoreJersey City Condo Developer Reports Spike in International Buyers
By Anuradha Kher, Online News EditorJersey City, N.J.–77 Hudson, K. Hovnanian Homes’ 48-story luxury condominium building on Jersey City’s Gold Coast, is experiencing an increase in the number of international buyers which is driving their sales to date. Prices range from $500,000 to $2.75 million for one-, two – or three-bedroom residences and penthouses, and…
Read MoreOverall Decline in Sales Contract Signings Suggests We Are Not Out of Woods, Says NAR
By Anuradha Kher, Online News EditorWashington, D.C.–Modest near-term movement is expected in existing-home sales including multifamily, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors.The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in May, fell…
Read MoreCamden Property Trust to Celebrate Opening of New Luxury Apartments in Virginia Tech Corridor
By Erika Schnitzer, Associate EditorHerndon, Va.–Camden Property Trust, a Houston-based real estate company involved in the ownership, development, acquisition, management and disposition of multifamily apartment communities, will celebrate the official opening of Camden Dulles Station, a 366-unit luxury apartment community, this Friday with a ribbon-cutting ceremony.Located five minutes from Dulles International Airport and 20 minutes…
Read MoreRedwood Capital Acquires 300-Unit Rental Community for $33.2M
By Anuradha Kher, Online News EditorAtlanta–Redwood Capital Partners recently acquired the Collier Ridge Apartments, a 300-unit apartment complex located at 100 Noble Creek Drive in Atlanta. Redwood purchased the property in partnership with MetLife from Equity Residential for $33.2 million or $110,667 per unit. The investment, part of Redwood’s value-add portfolio, is the firm’s fifth…
Read MoreCase Study: Design Strategies to Create Curb Appeal in Multifamily Settings
New York designer Marianne Cusato’s new book, “The Value of Design,” discusses how to achieve curb appeal though simple design. Here, MHN Associate Editor Erika Schnitzer talks to Cusato about applying her principles and universal themes (less is more, use common sense, design matters and everything relates) to multifamily settings.MHN: How can you achieve curb…
Read MoreTrans Ceramica Introduces Mosaic Tiles
Designed to complement its existing GranitiFiandre and TCL products, Trans Ceramica’s new mosaic tiles offer metal, pebble, glass, stone and iridescent elements. The tiles are created to work with Nihon, NewMarmi and NewStone Collections from GranitiFiandre and Earth Naturals, Native Stone and Gallery Collections from TCL.Pottery, stone, glass and marble are the inspiration behind the…
Read MoreCopper-Clad Luxury Condominium in New York’s West Village Tops Out
By Erika Schnitzer, Associate EditorNew York–A copper-clad luxury condominium, 385 West 12th St., has topped off. The seven-story, 12-unit boutique hotel-style condominium developed by New York-based FLAnk is expected to be complete in early 2009.“One of the things we value is real estate’s ability to change over time,” says Tim Crowley, managing director of FLAnk.…
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