Business Specialties
N.J. Multifamily Investment Market: Slower but Holding its Own
Over the last few generations, a handful of local old-line families controlled New Jersey’s multifamily inventory. However, in the early 2000s, the popularization of Northern New Jersey’s Hudson Waterfront (Jersey City, Hoboken, Weehawken, West New York and Edgewater) and the entry of institutionally backed builders paved the way for a liquid investment market that took hold in 2004.
Portal Protocols
Resident portals are mini sites where tenants can pay their rent, check out activity calendars and request maintenance service. Owners and managers are finding that these portals are must-have amenities today, impacting both resident retention and leasing efforts.
Increase Resident Retention
With more and more renters moving back home or doubling up, vacancy rates throughout the nation are on the rise. Industry experts agree that, while the emphasis is usually placed on leasing and marketing, there needs to be a shift toward focusing on the current paying customer. In other words, resident retention in today’s difficult economy is even more important than ever before.
New Program Offers $1B for Green Retrofits
A new program could provide a sizable jolt to the already-popular practice of retrofitting existing commercial properties to increase environmental sustainability. The Community Preservation Corp., a non-profit affordable housing lender, has unveiled a new public-private partnership that aims to provide $1 billion in funding for energy efficient upgrades and green retrofits to multifamily properties.
Community Preservation and Development Corp. Celebrates Opening of Affordable Inter-Generational Housing in D.C.
Washington, D.C.—Community Preservation and Development Corp. (CPDC) and Crawford Edgewood Managers Inc. (CEMI) recently celebrated the grand opening of The Overlook at Oxon Run, a seven-acre, 316-unit inter-generational housing development for low-income seniors and moderate-income workers.
MULTI-HOUSING EXECUTIVES UPDATE: McShane Hires Andrea A. Bills as New VP, and Other Moves
Rosemont, Ill.–McShane Development Co. has hired Andrea A. Bills as vice president in the firm’s corporate headquarters in Rosemont, Ill.
New Program Offers $1B for Green Retrofits
A new program could provide a sizable jolt to the already-popular practice of retrofitting existing commercial properties to increase environmental sustainability. The Community Preservation Corp., a non-profit affordable housing lender, has unveiled a new public-private partnership that aims to provide $1 billion in funding for energy efficient upgrades and green retrofits to multifamily properties.
GUEST COLUMN: Green Collar Jobs on the Rise
For many, the environmental movement is about recycling, solar panels, and hybrid cars. Even we in the industry can get distracted by the technological whiz-bangery of the latest wind turbine, composite material, and waterless urinal. It’s easy to overlook what will be the most pervasive aspect of sustainability in the coming years: the green collar job market.
The “Ifs, Ands or Buts” of Rental Screening
With rental vacancy rates at their highest levels since at least 1996, it is only natural that some property owners may “loosen” their standards during the rental screening process to increase occupancy levels. However, before taking such actions, property managers need to best understand how to assess their prospective residents in today’s new economic environment. To ensure a renter is both reliable and profitable, a property manager must look at several attributes in their profile.
Low-Rise Condo Raises Brooklyn’s Green Profile
New York–What’s black and white and green all over…? The Silhouette. And, if all goes according to plan, this four-unit eco-friendly condominium in South Park Slope, Brooklyn will soon be the first low-rise LEED Platinum project in New York City.