Business Specialties
DEAL OF THE DAY: Raintree Acquires Its Eighth Property in 2010 for $16.7M
Livermore, Calif.–Raintree Partners completed the acquisition of Meadowbrook Apartments, a 125-unit multifamily property in Livermore, Calif.
AFL-CIO Puts $90M into LES Multifamily Development
New York–The AFL-CIO Housing Investment Trust has invested $90 million in the Lands End II property on Manhattan’s Lower East Side, which will allow rental units to remain affordable for low- and moderate-income renters.
NAHB Names Michaels MF Development Firm of the Year
NAHB honors Michaels Development Co. for leadership in the multifamily housing industry and successful achievement of the company’s vision and goals.
Advanced Mixed-Use Project Wins New Jersey State Environmental Award
Jersey City, N.J.–Hoboken Brownstone Company has been honored with a Governor’s New Jersey Environmental Excellence Award for its conversion of a seven-acre brownfield site in Jersey City, N.J. into a progressive, energy-efficient mixed-use property.
New Partnership to Fund Affordable Housing Renovations
Chicago–The John D. and Catherine T. MacArthur Foundation, the National Affordable Housing Trust and Cornerstone Real Estate Advisers L.L.C. have partnered to preserve federally subsidized rental housing in a number of markets.
Aimco Energizes Three Philadelphia Properties with New Cogeneration Plants
Philadelphia–A grant from Pennsylvania’s Green Energy Works! Program helps Apartment Investment and Management Company install an energy-efficient system.
Aimco Energizes Three Philadelphia Properties with New Cogeneration Plants
Philadelphia–With the assistance of a $1 million competitive, matching grant from the State of Pennsylvania’s Green Energy Works! Program, Apartment Investment and Management Company has installed an energy-efficient system that will significantly decrease tenants’ utility bills.
Jamboree Breaks Ground on Intergenerational Affordable Housing Project
Claremont, Calif.–Jamboree has broken ground on Courier Place Apartment Homes, which will be a 75-unit, unified apartment community for low-income seniors and working families.
Suburban Seattle Student Housing Wins Top USGBC Award
Kenmore, Wash.–Bastyr University’s new student village has won “Outstanding Multifamily Project” in the 2010 LEED for Homes Awards from the USGBC.
NAHB Indexes Point to Stronger Multifamily Market Ahead
NAHB’s Multifamily Production Index shows that development is at its highest point since 2007.