Archive for December 2008
Affordable Housing Project Opens in Yonkers
By Anuradha Kher, Online News Editor Yonkers, N.Y.–Croton Heights Apartments, a $23 million, 60-unit affordable rental community in southwest Yonkers, N.Y. opened today.Developed by The Richman Group Development Corp., and built on the site of an old, unused parking lot formerly owned by the Yonkers Parking Authority at 193 Ashburton Ave., the building features one-, two-…
Read MoreMF Mortgage Debt Outstanding Grows 1.7 percent in One Quarter
By Anuradha Kher, Online News Editor Washington, D.C.–Multifamily mortgage debt outstanding in the third quarter grew to $890 billion, an increase of $15.2 billion or 1.7 percent from second quarter, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data.In dollar terms, commercial banks saw the largest increase in…
Read MoreCalifornia Architect Wins Gold Nugget Merit Award in Best Senior Housing Category
Thousand Oaks, Calif.–Van Tilburg, Banvard & Soderbergh, AIA (VTBS Architects,) has received a Gold Nugget Merit Award in the “Best Senior Housing Project” category for its design of University Village Thousand Oaks in California. The continuing care retirement community (CCRC) accommodates residents in a variety of living arrangements. Designed to embody an “age-in-place” philosophy, University…
Read MoreBenjamin Moore’s Zero-VOC Natura Available in Range of Hues and Sheens
Benjamin Moore’s zero-VOC (volatile organic compound) paint, Natura Interior Acrylic Latex, is now available in thousands of hues and a wide range of sheens. Because the paint is based on the company’s waterbourne colorant system, the VOC level is unaffected by the addition of colorant.Natura is available in all of Benjamin Moore’s colors and is…
Read MoreCase Study: Investing in Carbon-Neutral Luxury in the Philippines
The Cacao Pearl, located in Palawan, Philippines, is designed to become the world’s first non-profit and luxury eco-resort community to commit 100 percent of operating profits to environmental protection and social improvements. It is a low-density boutique resort being built in accordance with sustainable development principles, with 60 condominiums achieving zero carbon cost. Units range…
Read MoreTODAY’S DEALS: KeyBank Real Estate Capital Closes $52.6M in Loans for Four Texas Multifamily Properties
By Anuradha Kher, Online News EditorHouston, Dallas, Plano, Texas–KeyBank Real Estate Capital recently closed $52.6 million in loans for four multifamily properties in Texas through Freddie Mac and Fannie Mae. KeyBank provided $50 million in Freddie Mac ARM funding for three apartment complexes. In Houston, Key provided $22 million to Pearland Apartments for Cobblestone Park…
Read MoreTrammell Crow Residential, Equal Rights Center Implement New Program for FHA, ADA Compliance
By Erika Schnitzer, Associate EditorAtlanta–Trammell Crow Residential (TRC) and the Equal Rights Center (ERC) have come to an agreement after ending accessibility litigation initiated by ERC against the developer.“Our settlement provides that, for those projects we still own that were finished within 30 months of the date we were sued, we would have them inspected…
Read MoreMultifamily Is Bright Spot, Will Continue to Be in 2009
By Anuradha Kher, Online News EditorWashington, D.C.–With the exception of the apartment rental market, which continues to benefit from weak home sales, all commercial real estate property types are showing grim results for 2008, with an equally grim forecast for 2009, according to the Commercial Real Estate Outlook of the National Association of Realtors (NAR).…
Read MoreDominican Republic Readies for 25-Story Eco-Friendly Vacation Condo Tower
By Anuradha Kher, Online News EditorJuan Dolio Beach, Dominican Republic–Las Arenas, a 25-story residential tower located in Juan Dolio Beach in the Dominican Republic, has introduced a new eco-friendly architectural design. The project, which is being designed by Dominican architect, Jorge Mesa, and Spanish landscaper, Artur Bossy, is scheduled to break ground in the first…
Read MoreNAHB Urges Government to ‘Fix Housing First,’ Expand Homebuyer Tax Credit Program
By Keat Foong, Executive EditorWashington, D.C.–The National Association of Home Builders (NAHB) urgently called on the government to “fix housing first.” In a teleconference with the media, NAHB president and CEO Jerry Howard urged the incoming Administration and the next Congress to take steps to address the housing slump which, he said, was at the…
Read More