Business Specialties
What Renters Want: The Amenity Race is On
Los Angeles—Gen Y likes rooftop pools, multimedia-equipped fitness suites, concierge package service and the ability to order housekeeping for their apartment. They have dogs, get lots of UPS deliveries but almost no mail, like walking places (but also need to charge their electric vehicles), and want the lobby of their apartment community to look like that of a four-star urban hotel. Does this sound high maintenance? It’s a fair assessment. Multifamily experts delivered an overview of “What Renters Want: Development + Design Trends that Drive Occupancy,” at an educational event in November that was organized and moderated by MHN Editorial…
TCU Opens New KSQ-Designed Student Housing Facility
A new KSQ-designed residence hall opens at Texas Christian University. The project is an example of institutions looking at ‘retro housing’, a community-focused push-back against on-campus projects that aim to replicate the off-campus experience.
Native American Connections Opens Affordable Asset in Phoenix
A new 70-unit, mixed-use affordable housing community has opened in downtown Phoenix.
New Boston Fund, Asian CDC Land Financing for Mixed-Income Development in Boston
New Boston Fund and Asian Community Development Corp. land $114.7 million via HFF for a mixed-income development in Boston’s Chinatown.
Wood Partners Moves Forward with Construction in Germantown, Md.
Wood Partners has broken ground on Alta Liberty Mill, a $60 million, 304-unit community in Germantown, Md.
Economy Watch: Extended Unemployment Benefits Lapse for 1.3 Million Recipients
Extended unemployment benefits expire for 1.3 million people, and Freddie Mac’s delinquency rate drops to 2.43 percent—its lowest level since March 2009.
Mike Radice: New Era of Information Technology
Mike Radice, CEO of NWP Services Inc., discusses the new era of IT, in which leasing documents can be digitized for more cost-efficient storage and transmission.
TODAY’S DEALS: Berkshire to Acquire Two Apartment Assets for $120M
Berkshire Income Realty to acquire 588 units; Hudson Capital Investments buys a community outside Houston; and Beech Street Capital provides $7.4 million for a Florida acquisition.
Crescent Developing 556-Acre Master-Planned Asset Outside Charlotte
Crescent Communities is developing a 556-acre, master-planned community in York County, S.C., that is the company’s first new residential project in the Charlotte area in five years.