Development
American Land Ventures Unveils Latest on Fort Lauderdale Development
American Land Ventures, along with joint venture partner MetLife Real Estate Investors, has introduced its newest development project, VU | New River, which is ahead of schedule with construction after topping off in March in Fort Lauderdale, Fla.
From the Editor: On the Cutting Edge of ‘Green’
Before the final decision is made. One amenity that’s sure to get their attention is the on-site vegetable garden. Whether it’s on the roof or at ground level, offering residents the opportunity to grow their own produce is not only the cutting edge thing to do—it also immediately raises your organization’s green profile.
Development & Design: What’s ‘New’ in New Urbanism
While New Urbanist developments are not the only types of multi-housing projects that are being built today, the movement’s precepts have swept the industry over the past 20 years or more, and become common wisdom among multifamily developers, big and small alike.
Market Report: The Big Apple is Tasty
New York City multifamily assets saw aggressively higher prices throughout all submarkets and pricing metrics in 2013 as demand, driven by rising rents and low interest rates, continued to outpace supply. Average capitalization rates dropped while gross rent multiples, prices per square foot, and prices per unit rose.
TODAY’S DEALS: Miami Waterfront Development Site Trades Hands
ARA brokers a multifamily development site in Miami Beach, Fla.; Berkadia arranges $86 million for 15 seniors housing communities in North Carolina; and an Israeli insurance company acquires its first multifamily property in the United States for $48 million.
Wood Partners Community in Hopkinton, Mass., Nearly Complete
Wood Partners has announced that construction is nearly completed at its $45 million development, Alta Legacy Farms, in Hopkinton, Mass. The 240-unit luxury community, located in the master-planned Legacy Farms project, opened for lease in July 2013 and is 43 percent leased.
Construction Begins on The Picerne Group’s 198-Unit Multifamily Development in Cerritos, Calif.
The Picerne Group has announced that it has broken ground on its latest development, Aria. The Class A 198-unit residential community will be located at the cross streets of Bloomfield Avenue and Artesia Boulevard across the street from the Cerritos Towne Center.
Gilbane Breaks Ground on New Student Housing in Ames, Iowa
Gilbane Development has announced that it has officially entered the Ames, Iowa student housing market with the ground breaking of 23 Twenty Lincoln, a 320-bed student community that will serve the student population of Iowa State University’s campus in Ames.
Hunt Companies Selected to Develop Cadet Residence Hall at Texas A&M
Texas A&M University at Galveston has tapped Hunt Companies to develop a 612-bed, on-campus cadet residence hall.
Charting a Course Through a New Multifamily Lending Landscape
Investors need to plan ahead for the third-party due diligence requirements of lenders. Some of these requirements have changed.