Cities
Midtown Detroit Gets New Mixed-Income Community
Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.
Shorenstein Nabs Manhattan Luxury Community for $57M
HFF brokered the sale and arranged $31 million in financing for the 54-unit, recently renovated apartment building located in Manhattan’s East Village neighborhood.
JV Brings Luxury Living to Jersey City
Hartz Mountain Industries and Panepinto Properties developed the LEED Silver-certified TOD, which includes 13 stories and 240 units. The community is already 40 percent leased.
Batson-Cook Breaks Ground on 180-Unit FL Student Housing Development
The $54 million project, developed by a joint venture including Kayne Anderson Real Estate Advisors, is expected to come online in the summer of 2018.
Overbuilding in Richmond?
Following several years of strong supply, the area’s multifamily market is shifting down a gear. With almost 20,000 units in the pipeline, the metro is at risk of overbuilding.
RADCO Acquires 6th Tampa Community
Newly renamed Sunstone Palms, the 536-unit community will be the beneficiary of nearly $8 million worth of capital improvements.
Design Trend Update with Home Depot’s Sarah Fishburne
The home improvement supply retailer’s design and trend director spoke with MHN at the National Apartment Association’s Education Conference & Exposition in Atlanta to explain how design choices reflect changing lifestyle patterns.
New Solutions Spark Alternative Energy Advances
Renewable energy is alive and well in California, according to industry panelists at Realcomm 2017 and management at the solar powered Solterra EcoLuxury Apartments.
Berkadia Secures $23M Loan for Chicago-Area Assets
Ridge Garden Apartments and Indian Trails Apartments, two affordable multifamily properties in the greater Chicago area, will undergo capital improvements.
CBRE Lines Up $14M Financing for New Idaho Community
The company worked on behalf of the borrower, 5th and Idaho Apartments LLC. The five-story building will be located in the historic district of Old Boise, Idaho.