Archive for June 2009
‘Capital Insights’ with Jack Kern: New York City Rents Stable but Still Down Y-O-Y
Sometimes, the power curve shifts and the resident gets to call the shots. Reminiscent of the Godfather, 1972 when Michael Corleone talks about how his Father made an offer the band leader couldn’t refuse, residents are seeing the benefits of negotiating lower rents (without horses or large menacing guys like in the movie). Rents…
Read MoreTODAY’S DEALS: NorthMarq Arranges $41M Construction/Permanent Loan for 117-Unit Senior Living Community, and Other Transactions
By Anuradha Kher, Online News EditorDenver–The Denver regional office of NorthMarq Capital has arranged a $41 million construction/permanent loan for The Carillon at Boulder Creek, a 117-unit senior living community located at 2525 Taft Dr. in Boulder, Colo. It is a nine-story building currently being renovated to feature 54 senior residential units, as well as…
Read MoreHUD Launches ‘Recovery Act in Action’ Week in Chicago
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development, along with the city of Chicago, recently launched HUD’s “Recovery Act in Action” Week, along with $143 million in Recovery Act funds, in order to improve Chicago public housing, create jobs and jumpstart the local economy. The announcement marks the first…
Read MoreINSIDE THE DEAL: A ‘Grade A’ Helps Sell Louisiana Apartment Asset
By Keat Foong, Executive EditorLafayette, La.—The sale of Grand Pointe Apartments provides an example of the kinds of transactions that can take place in a down market—in which a strong market and high quality asset can help facilitate any deal. Apartment Realty Advisors (ARA) brokered the sale of the Class A luxury apartment community based…
Read MoreKTGY Designs Affordable Housing for Jamboree in Irvine
By Anuradha Kher, Online News EditorIrvine, Calif.–The Granite Court Apartment Homes in Irvine, Calif. are all set to open this July. Designed by KTGY GROUP, INC., Architecture and Planning and developed by Jamboree Housing Corp., Granite Court is an affordable housing community for families earning between 30 percent and 60 percent of the area median…
Read MoreFirst Joint-Use Housing/School Development in L.A. Completes Entitlement Process
By Erika Schnitzer, Associate EditorLos Angeles—Abode Communities, in collaboration with the Los Angeles Unified School District (LAUSD), has completed construction documents for Glassell Park, a new joint-use community that will co-locate housing and an LAUSD school on the same site, the first development of its kind in Los Angeles.“This program was thought of as an…
Read More‘Guest Column’ with Scott Yahraus: Using Facebook at Your Properties
It is not a question any more, rather a certainty. Facebook is here to stay. It has become a part of our everyday lives. Once thought to be used only by Generation “Y”, social media has transformed our lives. The largest growing demographic happens to be females 40 years old and above. If the first…
Read More‘Capital Insights’ with Jack Kern: Technology in Multifamily
“It has become appallingly obvious that our technology has exceeded our humanity.” Albert Einstein In the Electric Kool-Aid Acid Test there is a line that says, “…we are all doomed to spend our lives watching a movie of our lives – we are always acting on what has just finished happening. It happened at…
Read MoreThree Gables Residential Communities Receive EarthCraft Multifamily Certification
By Erika Schnitzer, Associate Editor Atlanta—Gables Residential has received EarthCraft Multifamily certification for three new apartment communities. The EarthCraft program is a residential green building program of the Greater Atlanta Home Builders Association in partnership with Southface. In addition to achieving the certification, the company received the 2009 EarthCraft Multifamily Developer of the Year.“The City…
Read MoreTODAY’S DEALS: Hendricks & Partners Arranges Sale of 210-Unit Affordable Housing Portfolio for Over $8M, and Other Transactions
By Anuradha Kher, Online News EditorMadison, Wis.–Hendricks & Partners’ National Affordable Housing Group has arranged the sale of the 210-unit Wisconsin Affordable Housing Portfolio (pictured) for $8,068,000.The seller was Dunn County Realty Group (DCRG), Housing Development Services (HDS), and Housing Management Services (HMS) of New Richmond, Wis. and the buyer was WHPC- Dunn County, LLC,…
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