Archive for March 2009
NanaWall Single Track Slider
NanaWall Systems’ newest product, the NanaWall VSW65 Single Track Slider, is a wood-framed, individual-panel, single-sliding system that can be used in multifamily buildings to create more rooms in flexible units or in place of walls between the units and balconies.With its single track, the custom system provides a clean line for a seamless transition from…
Read MoreTrump-Backed Baja Resort Condos Cannot Refund $32.2M Investor Deposits Due to Lack of Construction Financing
By Anuradha Kher, Online News EditorBaja, MEXICO–Back in October 2006 when all was well with the economy, Trump Entertainment Resorts Inc., along with Los Angeles-based Irongate Capital Partners LLC, started selling Trump Ocean Resort Baja Condos in the pre-construction stage. S&P Destination Properties, which was handling sales for the property, sold 188 units for a…
Read MoreHalstead Launches Program to Help Investors in Current Buyers Market
By Anuradha Kher, Online News EditorNew York–In an economy in which an increasing number of buyers want to take advantage of falling property prices and invest in real estate, Halstead Property has created a new full-service program called Halstead360 that aims to be a resource for investors planning to buy, manage, lease and sell their…
Read MoreWebinar on Construction Financing that is Still Available for Multi-Housing Draws Huge Response
By Keat Foong, Executive Editor New York—A webinar sponsored by an architectural firm to help its clients “get your next multi-family project funded” received an overwhelming response. The one-hour webinar provided information about the type of construction/rehabilitation financing that is still available to developers of market-rate multi-housing. This is financing that is insured by the…
Read More“Gimme Shelter” with Daniel Gehman: There Goes the Neighborhood
If we all expect the development paradigm is actually going to shift, there are many cases in which we must actually be out there pushing it. I’m coming up to a situation in my own back yard. This means, I may actually have the opportunity to “put my money where my mouth is” and come…
Read MoreMULTI-HOUSING EXECUTIVES UPDATE: Hathaway Properties Inc. Hires Burt Wilkerson, and Other Moves
By Anuradha Kher, Online News EditorAtlanta–Hathaway Properties Inc. has hired Burt Wilkerson (pictured) as director of Hathaway’s Governmental Housing division. Wilkerson was appointed by Governor Purdue to serve as the public service representative on the Georgia Real Estate Commission where he served until his appointment as Region IV director of the Department of Housing and…
Read MoreWorldwide Green Rating Tool Providers Seek Common Language
By Erika Schnitzer, Associate EditorEarls Court, London—Green building officials in the U.S., the U.K. and Australia signed a Memorandum of Understanding (MOU) to seek a common language for green building around the world on Tuesday at EcoBuild ’09 in Earls Court, London.The MOU, whose key objective, as stated in the document, is “To map and…
Read MoreDEAL OF THE DAY: HFF Closes $7M FHA 223f Loan for 55-Unit Rental Community
By Anuradha Kher, Online News EditorPortland, Ore.–The Portland office of HFF (Holliday Fenoglio Fowler L.P.) has arranged a $7.05 million FHA 223f loan for The 2020 Building, a 55-unit multifamily community in Portland, Ore.HFF worked on behalf of the borrower, 2020 Building LLC, to secure the acquisition/rehab loan through an FHA lending source. The financing…
Read MoreHUD Secretary Accepts $1.3B for Long-Term Disaster Recovery in Texas
By Anuradha Kher, Online News EditorWashington, D.C.–U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan has accepted a $1.3 billion plan to support long-term disaster recovery in the State of Texas following Hurricanes Dolly and Ike last year. Funded through HUD’s Community Development Block Grant (CDBG) Program, the Texas recovery plan seeks to produce affordable…
Read MorePhase I Construction to Start on $30M Jersey City Redevelopment Project; LEED Certification Will be Sought
By Anuradha Kher, Online Jersey City, N.J.–Whiton Street Associates LLC, a designated developer within the Monticello Avenue Redevelopment Plan Area, has initiated the first phase of The Monticello, a $30 million mixed-use redevelopment project located on the north end of Monticello Avenue in Jersey City, N.J. Construction is slated to start this spring, with completion…
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