Faulkner Design Group to Provide Interior Planning for Fort Worth Hotel Condos
By Erika Schnitzer, Associate EditorForth Worth, Texas–Faulkner Design Group, a Dallas-based interior and architectural design group, has been retained to provide interior design and planning for 1301 Throckmorton Omni Residences in Forth Worth, Texas.Developed by Omni Hotel/TRT Holdings, 1301 Throckmorton is an 89-unit, 18-story luxury condominium atop the 614-key Omni Fort Worth Hotel. “The condo tower is attracting people who have a more traditional home in Fort Worth and want something more dynamic downtown,” says Adrienne Faulkner, ASID, president and CEO of Faulkner Design Group.Residences range in size from 873 to 4,429 sq. ft. and are priced from $399,000 to…
Q&A with Nicole L. Norton-Gozdz: Green Design Starts When You Meet Client, Continues with Residents
Nicole L. Norton-Gozdz, R.A. is the founder of Crossroads Architecture Inc. (CAI). She is the sole owner of CAI. Gozdz has a national certification in architecture and has experience with site planning and commercial development/redevelopment processes in municipalities across Florida as well as Georgia, Tennessee and Nevada. She is a member of the U.S. Green Building Council: Treasure Coast Chapter (events chairman), Florida Green Building Coalition, Green Building Council, Energy Star, NCARB and Treasure Coast Builders Assoc.Her firm is currently implementing green design at a multifamily project in Martin County and has also begun work on the Stuart Lodge Assisted…
Calif. Air Resources Board to Enact Toughest Product Standard for Formaldehyde Emissions
By Erika Schnitzer, Associate EditorSacramento, Calif.–On January 1, 2009, California will begin observing the strictest formaldehyde emission standards for composite wood products. At that time, an independent testing company must certify all composite wood panel products made for sale or use in California.The California Air Resources Board (CARB) rule covers particleboard, medium-density fiberboard and hardwood plywood, as well as all products made from these materials. CARB has created a timeline for the implementation of the Air Toxic Control Measure (ATCM) for formaldehyde emissions. The initial phase, which will go into effect on January 1, 2009, establishes the first tier of…
TODAY’S DEALS: 300-Unit Rental Community Bought for $71M
By Anuradha Kher, Online News EditorSan Diego–In the largest multifamily sale in San Diego County year-to-date, Cushman & Wakefield has arranged the sale of Cardiff by The Sea Apartment Homes to Property West for $71 million. The 300-unit apartment community is located at 2170 Carol View Dr. in the north San Diego county coastal community of Cardiff by the Sea.“This sale demonstrates the strength of the San Diego County rental market and long-term positive outlook for core locations and quality assets,” says Ed Rosen, executive director with Cushman & Wakefield. “This is a well-positioned property in a market that enjoys…
Supportive Housing for Disabled Homeless Women Opens
By Anuradha Kher, Online News EditorDayton, Ohio–The Miami Valley Housing Opportunities (MVHO) and Miller-Valentine Group have recently opened a three-story, 27-unit apartment complex for homeless women veterans, located on the Dayton Medical Center campus, at 4100 W 3rd St. in Dayton, Ohio. Move-ins are expected to begin by end of October.The Ohio Avenue Commons is the nation’s first supportive housing initiative open to homeless, mentally disabled women veterans with services to ensure a successful re-entry into society. It features open area units with a bedroom, kitchen, and living room space as well as bathrooms. Preference is given to veterans but…
NMHC Does Not Expect Much Demand for Apartments as Gulf Coast Recovers from Storm
By Anuradha Kher, Online News EditorWashington, D.C.–In the wake of Hurricane Gustav, the National Multi Housing Council (NMHC) has been in several discussions with the Department of Homeland Security, the U.S. Department of Housing and Urban Development (HUD) and the Federal Emergency Management Agency (FEMA) to plan ahead. “Obviously, they are taking steps in advance after learning their lesson with Hurricane Katrina,” Jeanne McGlynn Delgado, vice president of business and risk management policy, NMHC, tells MHN.“We were fortunate that Hurricane Gustav wasn’t as bad as Katrina, but we have put the information out there and it is an ongoing process….
Norwood Builders Sponsors Seminar for First-Time Condo Buyers
By Anuradha Kher, Online News EditorRoselle, Mount Prospect, Ill.–Norwood Builders is sponsoring a “Good to Grow” free seminar, on September 13 at two of its new condominium communities, Park Street Crossing in Roselle, Ill. and The Emerson at Village Centre in Mount Prospect, Ill.For the first time, Norwood Builders has exclusively designed a 30-minute presentation for novice purchasers. Lender representatives from the area will present the seminar. A local certified public accountant will also be present at The Emerson at Village Centre sales office location to answer questions about personal financing issues.The event will conclude with model tours conducted at…
Philadelphia’s Two Liberty Place Breaks City Record with Highest-Priced Condo Per Sq. Ft.
By Erika Schnitzer, Associate EditorPhiladelphia–The Residences at Two Liberty Place, a 90-unit luxury condominium which is the second-tallest building in Philadelphia, the tallest residential building in the city and the first time residents can live higher than William Penn’s hat, the landmark on top of City Hall, has broken more city records. Now, The Residences at Two Liberty Place have garnered Philadelphia’s highest price per sq. ft. for multifamily real estate. Richie Sambora, lead guitarist for the rock group Bon Jovi, broke through this price ceiling when he purchased a condo for $3.58 million, at $1,377 per sq. ft. Additionally, sales…
Seven Keys to Improving Resident Retention Rates
By John Ely, Signature WorldwideToo often, I see multifamily housing managers put all their efforts behind fancy sales and advertising promotions to bring in new tenants. New business is great—don’t get me wrong—but what if you were able to fill your entire complex without having to go to great lengths to pull in new residents? What if you were able to re-sign the majority, if not all, of your tenants with a proactive resident retention plan? What if this plan involved little cost to you? Do I have your attention yet?It’s a lot easier, and a lot less expensive, to…
TODAY’S DEALS: Marcus & Millichap Sells Denver Area Property for $22.85M, and Other Transactions
By Anuradha Kher, Online News EditorBoulder, Colo.–Marcus & Millichap Real Estate Investment Services has arranged the sale of Uptown Broadway, a 116-unit apartment community in Boulder, Colo. for $22.85 million. This represents $226 per sq. ft. or $196,983 per unit, a record price for Boulder, and one of only five deals that have sold for more than $225 per sq. ft. in the Denver metro area during the last two years.Located at 4590 13th St., the 100,940-sq. ft. apartment community consists of 10 three-story buildings with 15 unique floor plans, including one- and two-bedroom units, townhomes and lofts, situated on…