Business Specialties
Yonkers IDA Completes Incentive Packages for Four Multifamily Properties
Yonkers, N.Y.–The Yonkers Industrial Development Agency (IDA) has closed on financial incentive deals for 10 residential and commercial projects in that city last year, including a number of affordable housing projects. All together, the residential projects are expected to create 282 new units of housing.
Designing for Dignity
The goal of every program that seeks to alleviate homelessness is to provide the individual with both stable housing and a support net of services, the convergence of which is best realized in permanent supportive housing.
SoCal Mortgage Banker Sees Burgeoning Opportunity in Multifamily Finance
Marina Del Rey, Calif.–Q10/Dwyer-Curlett has arranged $31.8 million in equity financing for the development of the Shores, a 544-unit apartment project to be built in Marina Del Rey. The deal is the first foray into multifamily finance by the company, which is a mortgage banking firm with three offices in southern California, and a member of Q10 Capital LLC, which specializes in commercial real estate finance.
Fifteen Years in the Making, Oakland’s MacArthur Transit Village Breaks Ground
Oakland, Calif.–It has been a very, very long time coming, but work has finally gotten underway on MacArthur Transit Village, a massive, mixed-use transit-oriented development that will ultimately deliver 624 multifamily residences centered on a Bay Area Rapid Transit station and additional future transportation outlets in Oakland, Calif.
Apartments to Rise on Site of Failed San Diego Condo Development
San Diego–Alliance Residential Co. has acquired a 1.3-acre development site in the Little Italy district of downtown San Diego and is planning 201 apartment units for it.
Suburban Boston Apartment Project to Take Its Cue from Rehabilitated 19th Century Building
Melrose, Mass.–In a $52.5 million endeavor, Wood Partners plans to mix some of the old with a bit of the new to create Alta Stone Place, a multi-structure apartment community in Melrose, Mass.
U.S. Will Not See 3% GDP Growth Until 2014
U.S. GDP growth is not expected to hit 3 percent until 2014. That analysis comes from the international real estate group Grosvenor.
Housing Cuts in the 2011 Federal Budget
Though housing cuts were significant in the 2011 budget, they weren’t as deep as initially feared.
Lending Starts to Open for Small Properties
Here is good news for owners of small multifamily properties who may be seeking financing: Lenders are becoming active in this sector again.
Fulfilling Maintenance Requests Is a Three-Part Process
As important as response time is, maintenance processing does not end when a property technician successfully fixes the problem in the apartment.