Today, when uncertainty surrounds us and the world outside seems lost to confusion and chaos, we seek, almost by instinct, sanctuary and communal comfort, much like our ancestors once did around an open fire.  Reaching into our collective past, to a time when all family, community and social activates took place deep within the heart of the castle, we find the “Hearth”, a place where life, feasting, entertainment and communal gatherings centered. Today’s hearth, the modern kitchen has evolved far from its original function of food preparation to that of “the social hub of the home”.  In the modern kitchen,…

According to McKinsey & Co.’s recent report, “Unlocking Energy Efficiency in the U.S. Economy,” investing in energy-efficient buildings now will lead to $1.2 trillion in savings, as well as reduce the nation’s energy consumption by 23 percent, by 2020. “Green building can stimulate the economy at a level one and a half times larger than the federal stimulus bill,” says Rick Fedrizzi, president, CEO and founding chairman of the USGBC, one of the 12 sponsors of the report.  “By leveraging existing green building approaches, like LEED, which is rooted in holistic and integrated design, we have the ability and capacity…

There will be a shortage of apartments in 2013. That is the prediction of Trammell Crow Residential’s (TCR) 2009 Outlook for the U.S. Multifamily Market. Many have been projecting that given the current constriction of apartment supply, apartment demand will outstrip supply shortly. This study puts a date on it. The study’s introduction was co-signed by Charles R. Brindell Jr., TCR President and CEO, and J. Ronald Terwilliger, TCR chairman. (Terwilliger was, incidentally, just honored in June with the Housing Person of the Year by the National Housing Conference.) The authors noted that we will see “strong rent growth beginning…

Wonderful change is afoot in one of LA’s most notorious neighborhoods. Jordan Downs, located in the heart of the community of Watts, in South Los Angeles, is targeted for redevelopment. The design team, led by the capable staff at the Housing Authority of the City of Los Angeles (HACLA) is in the midst of the community outreach for the project. Jordan Downs may be noted as one of the last public housing projects to be developed in the city of the angels back in the 1950s. Regrettably, it is probably better known for being in the middle of the neighborhood…

 Last week, I had the opportunity to meet with some of the industry’s most green-oriented executives, whom MHN had invited to judge our Second Annual Green Initiative Awards. Needless to say, it was quite an experience to get together with a group of four individuals who are so completely devoted to sustainability that, in at least one instance, they have actually spearheaded the movement. (And let me add that I learned quite a bit when some heated debates broke out.) In reviewing the submissions, the panel of judges—which included Anthony Morena, principal of The REDD (Real Estate Design & Development)…

Last month, I attended a press briefing given by Prudential Real Estate Investors (PREI), which invests in real estate on behalf of institutional clients. Here is what PREI CEO Allen Smith said. The company has sold more than $1 billion in commercial real estate this year, and Smith said that a lack of liquidity has not been a problem with its buyers. Buyers in these transactions were able to do get financing, if they were willing to pay a price for it. We are talking about commercial real estate in general, and not only about multifamily. One encouraging sign in…

Some time ago I wrote about a new senior housing community that was being proposed in my neighborhood. Since this is a product type that my company also designs, I was quite interested in who was proposing just what, so I followed the process. I can’t recall exactly how it happened, but I ended up on the mailing list of the association that represents my neighborhood, and is called upon to review proposed projects for design consistency. (As a curious aside, when I first moved here about fifteen years ago, I attended a couple of meetings in an attempt to…

Last month, I attended a press briefing given by Prudential Real Estate Investors (PREI), which invests in real estate on behalf of institutional clients.   Here is what PREI CEO Allen Smith said. The company has sold more than $1 billion in commercial real estate this year, and Smith said that a lack of liquidity has not been a problem with its buyers. Buyers in these transactions were able to do get financing, if they were willing to pay a price for it. We are talking about commercial real estate in general, and not only about multifamily. One encouraging sign…

“Should 5% appear too small, be thankful I don’t take it all.” Taxman (c) The Beatles, 1965 Property values are declining in virtually all sectors of commercial real estate and with local governments seeking relief any way they can get it, assessments are rising. In New York, starting in January the Department of Finance released their tentative assessment listings planned for 2010. Not surprisingly the assessed value was up for all major groups. Most notably, apartment buildings rose 7.8% and commercial buildings went up 9.9%. Single family residences didn’t escape the increases either, rising by 4.41%. All of this designed…