News
What Renters Want: The Amenity Race is On
Los Angeles—Gen Y likes rooftop pools, multimedia-equipped fitness suites, concierge package service and the ability to order housekeeping for their apartment. They have dogs, get lots of UPS deliveries but almost no mail, like walking places (but also need to charge their electric vehicles), and want the lobby of their apartment community to look like that of a four-star urban hotel. Does this sound high maintenance? It’s a fair assessment. Multifamily experts delivered an overview of “What Renters Want: Development + Design Trends that Drive Occupancy,” at an educational event in November that was organized and moderated by MHN Editorial…
Economy Watch: U.S. Auto Sales Up in 2013
Auto sales were up 7.5 percent in 2013, and soon to be ex-chairman Ben Bernanke remains optimistic about the U.S. economy in 2014.
TCU Opens New KSQ-Designed Student Housing Facility
A new KSQ-designed residence hall opens at Texas Christian University. The project is an example of institutions looking at ‘retro housing’, a community-focused push-back against on-campus projects that aim to replicate the off-campus experience.
TODAY’S DEALS: Lee & Associates Completes $7.2M Sale in Glendora, Calif.
Lee & Associates completes a 27-unit sale; Summit Healthcare REIT Inc. completes its first purchase since changing names; and Meridian Capital Group arranges mortgages in Brooklyn and Queens.
NYC Announces New, Expanded Carbon Challenge that Now Includes Multifamily
Spurred by big drops in greenhouse gas emissions, New York City has unveiled new and expanded programs aimed at building efficiency, including an expansion of its Carbon Challenge to include multifamily buildings.
Economy Watch: Construction Spending Edges Up
U.S. construction spending is at its highest level since March 2009, and unemployment claims decrease for the week ending December 28.
Native American Connections Opens Affordable Asset in Phoenix
A new 70-unit, mixed-use affordable housing community has opened in downtown Phoenix.
Financing in Place for $278M Brooklyn Mixed-Income Project
A 586-unit mixed-income asset is set to break ground in Downtown Brooklyn now that land, LIHTC and $177.5 million in financing are in place.
TODAY’S DEALS: PAC Completes $19.9M Apartment Acquisition in Atlanta
Preferred Apartment Communities completes a 140-unit purchase; Steadfast Apartment REIT commences its IPO; and Eastern Consolidated brokers the sale of a Queens development site to a private Chinese investor for $17 million.