Treeborn Mosaic Flooring Provides Cushioned Hardwood Floor
Made with end-grain African hardwood, Treeborn Mosaic Flooring is comprised of a collection of mosaic tiles sealed with a flexible polymer grouting, Flexi-Grout, over an optional cushion layer of varying thicknesses. Treeborn is made from exotic woods such as Sapele, Iroko, Danta, Dahoma and Ebony. Its standard underlayments are ¼-in. thick and have a low R-value, allowing it to be applied over radiant heat. Also available is a sound isolation version.Designed to allow the floor to expand and contract along with the wood, Flexi-Grout is pliable and reportedly unaffected by moisture. It is available in six colors colors: Black, Dijon,…
Case Study: The Need for Transit-Oriented Design in Long Beach, Calif.’s Redevelopment
Dan Withee, partner, and J. Roderick de la Rosa, senior associate, both of Torrance, Calif.-based Withee Malcolm Architects, discuss one of their latest projects, a mixed-use, transit-oriented development in downtown Long Beach, Calif. Name of Project: PacificaType of project: Pacifica is a mixed-use development with 62 condominium units and 5,300 sq. ft. of ground-floor retail. It offers one-, two- and three-bedroom plans configured as single-floor lofts and two-story townhouses that range in size from 664 to 2,139 sq. ft. Describe overall site size and square footage of primary building: It is an urban infill site with a 0.66-acre lot area….
American Valve’s Scald Prevention Bath Line
American Valve’s new product line, called HotStop Scald Prevention, features faucets, tub spouts, showerheads and hand showers, all of which contain a patent-pending temperature actuated flow control (TAFR) feature certified to ASSE Standard 1062. This feature is designed to reduce water flow to a trickle when water reaches unsafe temperatures, and automatically return to normal flow after the temperature is reduced. Once the water in the line cools, the flow re-starts automatically—usually in less than 30 seconds. It still allows users to set water heater temperatures at a safe level to avoid Legionellae contamination. Because it is an end-point device,…
Today’s Deals: Nevins Adams Lewbel Schell Buys 300-Unit Apartment Community for $32.5M, and Other Transactions
By Anuradha Kher, Online News EditorTucson, Ariz.–Hendricks & Partners recently arranged the sale of Finisterra (pictured), located at 6795 East Calle La Paz in Tucson, Ariz., for $32,500,000.The 300-unit gated apartment community was built in 2005 and 2006. It is spread across approximately 15.59 acres and features 21 two-story, garden-style buildings. The property features one-, two- and three-bedroom units in five individual floor plans. Community amenities include a clubhouse with kitchen, computer room, heated swimming pool, spa, fitness center and barbeque areas.Finisterra Community I L.L.C. of Tucson sold the property to Nevins Adams Lewbel Schell (NALS) of Santa Barbara, Calif.Meridian…
Price Incentives Help Chicago Suburb Development Achieve Sales
By Erika Schnitzer, Associate EditorRoselle, Ill.–Park Street Crossing, a 62-unit transit-oriented luxury condominium community developed by Park Ridge, Ill.-based Norwood Builders, is now 50 percent sold.For a limited time, buyers can take advantage of price incentives, with condos selling for less than $200,000. “We tried to create an incentive to provide people with the opportunity to buy now,” says Bruce Adreani, president of Norwood Builders. “We are trying to cater this to first-time homebuyers.”The development offers one- and two-bedroom residences, ranging in size from 896 to 2,171 sq. ft. Base prices range from $219,900 to $475,000. Each residence includes a…
AvalonBay Communities to Participate in Annual, Nationwide Volunteer Service Day
By Anuradha Kher, Online News EditorWashington, D.C.–AvalonBay Communities Inc. will participate as a partner in USA WEEKEND’s “Make A Difference Day” to be held on Saturday, Oct. 25 this year. This is the 18th year of the event, which is celebrated as a national day of volunteer service. This annual event celebrates neighbors helping neighbors to improve communities through coordinated volunteer projects.“We have always had ‘spirit of caring’ as one of the company’s values and want to extend it to the residents of our communities as well,” Kevin Thompson, vice president of marketing at AvalonBay Communities, tells MHN. “We believe…
PNC Multifamily Capital Becomes Third Fully Delegated Freddie Mac Lender
By Anuradha Kher, Online News EditorMcLean, Va.–PNC MultiFamily Capital has become the third lender approved to enter into a fully delegated relationship with Freddie Mac under the Freddie Mac Delegated Underwriting for Targeted Affordable Housing model.Centerline and Wachovia are the two other fully delegated lenders under this model.Delegated Underwriting gives certain qualified correspondent lenders more expedited processing and flexibility in exchange for sharing a portion of the risk when underwriting mortgages secured by properties benefiting from Low Income Housing Tax Credits.”PNC is very pleased to move into full delegation and expand our relationship with Freddie Mac in this way,” says…
EDITOR’S NOTE: The Point of the Housing Act
By Keat Foong Executive Editor The big news in recent weeks is the passage of the Housing and Economic Recovery Act of 2008, described to be the most significant housing legislation in a generation. The government effort to calm the financial markets with regards to Fannie Mae and Freddie Mac is surely a welcomed development for the multifamily industry, which is relying now more than ever on these two agencies to supply it with debt capital. The last thing we want is for this twin engine of multifamily financing to vanish into thin air, or for bond investors to lose…
Meeks + Partners Designs Resort Condominium off Coast of Southern Texas
By Erika Schnitzer, Associate EditorMustang Island, Texas–Meeks + Partners, based in Houston, has designed a flagship development for San Antonio-based Koontz McCombs LLC. The Palmilla at Port Aransas, a 94-unit luxury condominium, is expected to break ground in the spring of 2009.“Bart Koontz (president and CEO of Koontz McCombs) had a vision to build a resort development unlike anything that had been built in Port Aransas,” says Thomas Wells, vice president of multifamily development at Koontz McCombs LLC. Many developments in this location tend to be single-family homes, beach homes and hotels, he adds.Located off the south coast of Texas…
Today’s Deals: Meridian Capital Group Arranges $6.205M in Financing for Three Multifamily Projects, and Other Transactions
By Anuradha Kher, Online News EditorChicago–Meridian Capital Group recently arranged $3,280,000 in financing for a multifamily building located at 1441 W. Howard St. in Chicago as well as $2,925,000 for two multifamily buildings located at 6810 N. Lakewood Ave. and 3915 N. Fremont Ave.The 62-unit property on W. Howard street is one block from Lake Michigan in the East Rogers Park neighborhood.The two buildings at 6810 N. Lakewood Ave. and 3915 N. Fremont Ave. consist of a total of 51 apartments.Raintree Villas Rental Community Sells for $2.2MTempe, Ariz.–Sperry Van Ness has completed the sale of Raintree Villas (pictured), a 24-unit…