News
Red Hook Homes Brings Affordable Units to Brooklyn Neighborhood
Red Hook is rebounding, as evidenced by the grand opening of Red Hook Homes. The $18 million co-op brings the community 60 new housing units, 40 of them affordable, and another 20 market-rate and middle-income units.
Economy Watch: Economy Creates Jobs at Modest Pace in October
The Bureau of Economic Analysis reported on Friday that the U.S. economy added 80,000 jobs in October, with modest growth in various private employment sectors pushing the total up, but continued cuts among state and local governments dragging the total down.
Multi-Housing News: Inside the November Issue
Read the articles from the latest print issue of Multi-Housing News.
TODAY’S DEALS: HFF Secures $34M Refi for SoCal Asset
HFF secures a $34 million refinance for a 306-unit community; Beech Street Capital provides $40 million in financing for a Baltimore-area portfolio; and Essex brokers sale of mixed-use property for $1.6 million.
Should You Outsource?
While the use of call centers is pervasive across many industries, the apartment sector appears to be at least one industry that is resistant to this current-day corporate trend.
First Smoke-Free Residential Building on Manhattan’s West Side
Residents of Manhattan’s West Side can now breathe a little easier. Equity Residential recently announced that Ten23, Chelsea’s first smoke-free apartment, is open for leasing.
NMHC Reports Upswing in Multifamily Construction
The National Multi Housing Council’s latest Quarterly Survey of Apartment Market Conditions reports that increased demand for rental housing has led to a considerable uptick in multifamily construction.
Cutting Costs: What’s the Next Layer of Opportunity for Rent Increases?
Now is the time to leverage conditions to enact a paradigm shift in how the industry underwrites risk. Simply stated, having the “upper hand” in the market for the next cycle creates a perfect opportunity to put a mandatory renter’s insurance plan into effect.