Archive for April 2009
452-Unit Trammell Crow Project Wins Best Garden Apartment Community at 2009 Pillars
By Anuradha Kher, Online News EditorDallas–Alexan Fitzhugh, a Trammell Crow Residential project, recently won the “Best Garden Apartment Community” (four stories and under) category in the 2009 Pillars of the Industry Awards from the National Association of Homebuilders (NAHB). The honored Alexan Fitzhugh “team” includes architecture firm Beeler Guest Owens, interior design by the Faulkner…
Read MoreCondo Sales Drop in March, But Number of First Time Homebuyers Is up, Says NAR
By Anuradha Kher, Online News EditorWashington, D.C.–Existing-home sales (including single-family, condos and townhomes) eased in March but first-time buyers are responding to low mortgage interest rates and tax credits, according to the National Association of Realtors. Existing condominium and co-op sales fell 4.1 percent to a seasonally adjusted annual rate of 470,000 units in March…
Read MoreQ&A with Jamie Gorski: We Are Examining Costs, Asking More Questions and Renegotiating Pricing with Vendors
The Bozzuto Group recently hired Jamie Gorski (pictured) as senior vice president of corporate marketing, where she will run the marketing department and provide strategic marketing direction for each of Bozzuto’s six integrated companies. Gorski previously worked as senior vice president and chief marketing officer for KETTLER and as vice president of marketing for Archstone-Smith…
Read More‘The Green Picture’ with Erika Schnitzer: Embracing the Earth—All Year Long
Earth Day is now Earth Week. News about climate change and the green movement—and what everyone is doing to advocate against one and promote the other—is everywhere this week. Last weekend, for example, The Tower Cos. held a “Recycling Day Festival@The Blairs,”—a 1,400-unit community in Silver Spring, Md.—collecting donations of clothing, electronics and furniture with…
Read MoreEditor’s Note: Embracing the Earth—All Year Long
By Erika Schnitzer, Associate EditorEarth Day is now Earth Week. News about climate change and the green movement—and what everyone is doing to advocate against one and promote the other—is everywhere this week. Last weekend, for example, The Tower Cos. held a “Recycling Day Festival@The Blairs,”—a 1,400-unit community in Silver Spring, Md.—collecting donations of clothing,…
Read MoreAll Xylem Products are Now CARB-Compliant
Xylem has announced that all of its products are now CARB (California Air Resources Board)-compliant.The regulation limits formaldehyde emissions from raw composite wood panels and products sold or used in California. By complying with the new CARB regulations, he company is positioning itself to sell its entire product line in all 50 states, including those…
Read MoreFreddie Mac Acting CFO Dead, Early Reports Claim It Was Suicide
McLean, Va.–David Kellermann (pictured), acting chief financial officer and senior vice president of Freddie Mac, was found dead in his home in Reston, Va. early this morning. He was 41 years old. The Fairfax County, Va. police department said it was about 4:48 a.m. local time when his death was discovered and that there were…
Read MoreTODAY’S DEALS: Arbor Closes $8,775,000 Fannie Mae DUS Loan, and Other Transactions
By Anuradha Kher, Online News EditorBellingham, Wash.–Arbor Commercial Funding LLC recently completed funding of a $8,775,000 loan under the Fannie Mae DUS product line for the 171-unit complex known as Brampton Court Apartments (pictured) in Bellingham, Wash.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.86 percent.Ginnie Mae Completes $756M…
Read MoreCities Lost 2 Million Movers in ’08 While Suburbs Gained Nearly the Same Number
By Anuradha Kher, Online News EditorWashington, D.C.–The national mover rate declined from 13.2 percent in 2007 to 11.9 percent in 2008, the lowest since the U.S. Census began tracking this data in 1948.During this period, renters were five times more likely to move than homeowners. More than one-in-four people (27.7 percent) living in renter-occupied housing…
Read MoreMARKET SNAPSHOT: Slow but Steady Wins in the Gateway City
By Erika Schnitzer, Associate EditorSt. Louis—Similar to other midwestern markets, St. Louis has experienced immense job loss and forced early retirement, which has resulted in a softening of the apartment market, according to Ken Aston, Jr., partner in Hendricks & Partners’ St. Louis office.According to the most recent Bureau of Labor Statistics report, St. Louis’…
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