Archive for May 2009
Dornbacht Introduces Supernova Line of Bath Accessories
The flash of light from an exploding star—supernova—inspired the development and name of the newest faucet style from Dornbracht. Designed by Sieger Design, Supernova is a suite of fittings for tub, lavatory, bidet and shower as well as a series of matching accessories (pictured: collage of various products in the Supernova line). Supernova fits at…
Read MoreHUD Provides $1B for Improvements to Public Housing
By Anuradha Kher, Online News EditorWashington, D.C.–U.S. Department of Housing and Urban Development (HUD) is offering nearly $1 billion to make substantial improvements to thousands of public housing units nationwide. The Public Housing Capital Funds are being provided through the American Recovery and Reinvestment Act of 2009 and are designed to help selected public housing…
Read MoreFirst Southern Neighborhood in the U.S. Receives LEED ND Silver Certification
By Erika Schnitzer, Associate Editor Nashville, Tenn.—The Gulch, developed by MarketStreet Enterprises and planned by Looney Ricks Kiss Architects Inc., is the first neighborhood in the South to receive LEED (Leadership in Energy and Environmental Design) for Neighborhood Development Silver certification. The Gulch is one of the first fourteen neighborhoods internationally to become LEED ND-certified…
Read MoreDespite Downturn Brooklyn Condo Sells Over Half of Units in Five Months
By Anuradha Kher, Online NewsNew York–Despite the economic downturn, NV, a 40-unit condominium project in Brooklyn, N.Y. that opened in February 2009, is now 55 percent sold.Located at 101 North 5th St. at Berry Street, the six-story project features one- and two-bedroom apartments.“The economic downturn that has affected the New York condo market has moved…
Read More‘Gimme Shelter’ with Daniel Gehman: Conviction, Part 2
The state of mind to which I am referring when I mention “conviction” in this blog space is that “of being convinced,” according to my World Book dictionary. To take a position on something that may seem edgy, counter-cultural, annoying, or whatever the counter-intuitive flavor of the week happens to be, requires more than a…
Read MoreGuest Column: Resident Screening—Why Bother?
By Linda Richer, Director of Resident Screening, CBC Companies, Inc. With bankruptcies at an all time high, foreclosure activity at record numbers and occupancy rates the lowest in years, finding qualified residents to fill apartment units has become increasingly difficult. Coupled with having to balance the unending responsibilities at your properties, there just doesn’t seem…
Read MoreTODAY’S DEALS: HFF Secures $18.25M Refi Loan for 408-Unit Property, and Other Transactions
By Anuradha Kher, Online News EditorCasselberry, Fla.–HFF (Holliday Fenoglio Fowler L.P.) has secured an $18.25 million refinancing for Harbor at Lake Howell (pictured), a 408-unit multifamily community in Casselberry, Fla.Working on behalf of LaSalle Investment Management, HFF placed the seven-year adjustable-rate loan with Freddie Mac (Federal Home Loan Mortgage Corp.). Harbor at Lake Howell is…
Read MoreMULTI-HOUSING NEWS EXECUTIVES UPDATE: Christopher Hooke Joins CPC as Director of Fannie, Freddie Sales, and Other Moves
By Anuradha Kher, Online News EditorNew York–Christopher Hooke (pictured) has joined The Community Preservation Corp. as director of Freddie Mac and Fannie Mae sales. Hooke is an expert at Freddie Mac loan origination, having spent more than 10 years at Freddie Mac including five years as Northeast regional director. During his tenure, he was responsible…
Read MoreFormer HUD Secretary Jack Kemp Remembered as Man of Big Ideas
By Anuradha Kher, Online News EditorNew York–Jack Kemp (pictured), former Department of Housing and Urban Development (HUD) secretary, and congressman, one-time vice-presidential nominee, and self-described “bleeding-heart conservative,” who passed away recently at the age 73, will be remembered by his peers in the housing industry as a leader and man with big ideas no matter…
Read MoreGUEST COLUMN: The Long-Term Prospects of Multifamily Investments
By Mark Alfieri, chief operating officer of Behringer Harvard Multifamily REIT I, Inc. Most experts agree that 2009 will be challenging for all commercial property types, including the market’s perennial bright-spot, the multifamily market. Although apartments have suffered less than other commercial real estate sectors, apartment vacancy rates are expected to rise an average of…
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