Economy Watch: More Americans Traveling Further to Work Than 10 Years Ago
Many workers are taking on longer commutes in exchange for more affordable housing located on the periphery of major cities rather than in urban cores or inner suburbs, according to a recent Apartment List report.
Denver Affordable Housing Secures $50M
Koelbel and Co., Mile High Development and Longs Peak Advisors will develop Eaton Street Apartments, a 118-unit community in Westminster, Colo.
Radnor, Harrison Street Pick Up Pittsburgh Student Housing
The partners acquired the 314-unit high-rise at Duquesne University for $23 million and will modernize the half-century-old community over the course of four summers.
FirstService Residential to Manage NJ Properties for Alfred Sanzari
The portfolio includes 535 units in Bergen and Middlesex counties and is nearly 100 percent occupied. This is the first time Alfred Sanzari has partnered with a third-party manager.
Economy Watch: Tax Credit-Financed Multifamily Performing Well
Multifamily communities financed by the federal government’s LIHTC program are operating better than in any period during the program’s history, according to a recent CohnReznick report.
WinnCompanies Redevelops 2 DC Affordable Housing Properties
In a two-year and $69 million endeavor, the company combined the 105-unit Atlantic Gardens and the 195-unit Atlantic Terrace and renamed the asset Atlantic Apartment Homes.
Chicago Tower Slated to Become Tallest All-Residential Building in City
Lendlease is the contractor for One Bennett Park in Streeterville, which when completed in 2019 will include 70 stories and 69 units.
2 CA Properties Obtain $125M
KeyBank Real Estate Capital originated the loans for the 385-unit Paseos Apartment Homes in Montclair and the 225-unit Pier in Los Angeles.
Economy Watch: Apartment Development to Spike in Certain Markets
In 10 of the nation’s 50 largest markets, apartment supply in 2018 is expected to increase 40 percent or more from 2017 levels, according to a recent RealPage report.
Quadrum Global Kicks Off Leasing at FL Senior Housing
The company created Quadrum Senior Living Management to oversee operations at Amavida, a 460-unit community in Fort Myers.