Archive for May 2009
Armstrong Grand Illusions Flooring Available in Additional Species
Armstrong has expanded its Grand Illusions laminate flooring line, adding domestic exotic visuals. The line is now available in some of the most popular hardwood species, including Canadian Maple, Southern Hickory, Eastern Oak, American Apple and Heartwood Walnut (pictured).The flooring is available in 5-in. board widths that mimic actual installed hardwood. The new collection offers…
Read MoreDeveloper Begins Work on Resort Neighborhoods Committed to ‘Humane Values’
By Erika Schnitzer, Associate EditorBretton Woods, N.H.—Celebration Associates has initiated the development of approximately 1,000 new homes—including both multifamily and single-family offerings—in four neighborhoods surrounding Mount Washington Resort, with the first offerings now available.Celebration Associates acquired Mount Washington Resort—which included the historic hotel and several other inns—in June 2006. In addition to the resort and…
Read MoreGreen Envy Founder Robert M. Roth Selected to Judge MHN’s Green Initiative Awards
New York—Robert M. Roth, Esq., president and founder of Green Envy Development, has been selected to judge MHN’s second annual Green Initiative Awards. Roth’s work at Green Envy includes the development of the Silhouette, a four-story, four-unit condominium project in Brooklyn designed to meet both LEED (Leadership in Energy and Environmental Design) Platinum and Energy…
Read MoreSlowing Construction Helps Steady Weakened Atlanta Apartment Market
By Erika Schnitzer, Associate EditorAtlanta—Reduced completions and decelerating job losses are anticipated to stabilize Atlanta’s apartment vacancy, according to Marcus & Millichap’s second quarter Apartment Research Market Update on the Atlanta metro area. While approximately 3,300 units are slated for delivery this year, 4,500 units were completed in 2008. And 4,500 permits for multifamily housing…
Read MoreA10 Capital Raises $100M in Capital to Launch Lending Group to Fund First Mortgage Loans
By Erika Schnitzer, Associate EditorBoise, Idaho—A10 Capital, a firm that finances commercial real estate and provides advisory and management services to resolve troubled assets, has announced the establishment of its Lending Group to originate first mortgage commercial real estate loans and provide financing to investors for distressed debt purchases secured by commercial real estate. “We…
Read MoreGUEST COLUMN: From Brown to Green. Understanding the Legal Implications of Brownfields
By Martin A. Shelton, Esq.Brownfield property purchasers and developers are wise to have a clear understanding of the legal and regulatory requirements associated with the process. It’s the difference between holding a brown parcel worth its weight in gold or waste. The Resource Conservation and Recovery Act (RCRA) Brownfields Prevention Initiative begun by the U.…
Read More‘Editor’s Notebook’ with Diana Mosher: Phoenix Light Rail Opens up New Possibilities
The next time you’re in Phoenix, I highly recommend taking a ride on the newly opened light rail. Whether your niche involves marketing apartment communities, financing them or building them (or, like me, reporting on them) I’d say checking out public transportation options from time to time is a no-brainer. It’s interesting to see the…
Read MoreTODAY’S DEALS: NorthMarq Capital Arranged $7.5M Loan for 312-Unit Apartment Community
By Anuradha Kher, Online News EditorMiddlesex County, N.J.–NorthMarq Capital through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender, has closed a $7.5 million multifamily loan on a 312-unit apartment complex in Middlesex County, N.J. NorthMarq closed the loan in 29 days from deal identification. The borrower secured a favorable 5.27 percent rate on…
Read MoreMULTI-HOUSING EXECUTIVES NEWS: South Florida Developer Joel Altman Selected as Finalist for Ernst & Young ’09 Florida Entrepreneur of the Year Award, and Others
By Anuradha Kher, Online News Editor Boca Raton, Fla.–Chairman and CEO of The Altman Cos., Joel Altman (pictured), is a finalist for the Ernst & Young 2009 Florida Entrepreneur Of The Year Award in the real estate and construction services category. Category winners for the award, which recognizes entrepreneurs who demonstrate extraordinary success in the areas…
Read MoreHUD Secretary Announces More Funds for Affordable Housing Under FY2010 Budget
By Keat Foong, Executive Editor Washington, D.C.— U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan has announced HUD’s budget for Fiscal Year 2010. The budget includes measures to “substantially” increase funding for Section 8 tenant-based rental vouchers; increase funding for, and fully fund, the Community Development Block Grant (CDBG) program; and contribute $1 billion…
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