News
National Harbor Establishes Brisk Sales Pace in D.C. Area
Washington, D.C.–At The Peterson Cos.’ National Harbor development, more than 100 homes were sold between early 2010 and the first quarter of 2011.
Work Begins on New Apartments in Raleigh
Raleigh, NC–Ground has been broken for the Gallery at Cameron Village, a 282-unit apartment project with 16,000 square feet of retail space in Raleigh. According to the developer, Charlotte-based Crescent Resources LLC, the first apartments will be available in spring 2013.
Freddie Mac Releases U.S. Economic and Housing Market Outlook
Mclean, Va.–Freddie Mac has released its U.S. Economic and Housing Market Outlook for August, showing that despite the recent ups and downs in the capital markets the likelihood of an extended period of both relatively low short- and long-term interest rates is helpful news for the housing market’s recovery as it continues to struggle.
TODAY’S DEALS: Alcion Ventures, Golub & Company Acquire 579-Unit Community
Alcion Ventures and Golub & Company buy a 579-unit community north of Chicago; Holliday Fenoglio Fowler closes the sale of and arranges financing for a suburban Texas community; and NorthMarq arranges a $19.2 million Freddie Mac loan.
Questions to Ask Before Embarking on a Social Media Plan
Anyone who’s spent time on social media marketing knows the process can get very deep very quickly–and hours can slip by like minutes.
Adaptive Reuse Student Housing Finished in Philly
Philadelphia–The adaptive reuse redevelopment of part of the former Women’s Medical College of Pennsylvania into new student housing at Philadelphia University has been completed.
Yardi Acquires Multifamily Insurance Group
Santa Barbara, Calif.–Yardi has acquired Dallas-based Multifamily Insurance Group (MIG), allowing the company to provide ResidentShield renters insurance products to its clients. Yardi will now offer insurance coverage through ResidentShield for personal liability, personal property and living expenses for losses caused by fire, theft and other unexpected events. “Our goal is to provide our clients with a full-business solution—including dynamic rental pricing, online resident services, utility billing and resident screening—using a single platform. That integrated offering now includes the reduced insurance risk for property owners and the peace of mind for renters that ResidentShield makes possible,” says Gordon Morrell, executive…
July Consumer Indicators Show Shift Toward Renting
Washington, D.C.–Americans are increasingly downbeat about the state of the economy and their own finances, according to Fannie Mae’s July national consumer attitudinal survey. What’s more, they display little optimism about home prices and are demonstrating a greater inclination to consider renting as their next step.
USGBC Joins Global Reporting Initiative as an Organizational Stakeholder
Washington, D.C. –The U.S. Green Building Council (USGBC) has joined the Global Reporting Initiative (GRI) as an Organizational Stakeholder (OS), becoming a member of GRI’s global network of organizations and companies that are committed to transparency, accountability and sustainable development. GRI is a network-based organization that produces a consensus-based, globally used sustainability Reporting Framework, allowing users to produce transparent, fully disclosed reports on environmental, social and governance performance. Working with the United Nations, governments and many prominent companies, GRI is the world’s most widely used corporate social responsibility reporting mechanism. The GRI OS program broadens participation around transparency in sustainability,…
Share of Loans in Foreclosure Grows, as Does Number of Renters
Washington, D.C.–Serious mortgage delinquency rates are at near historically high levels, according to data released today by Foreclosure-Response.org. If there’s a silver lining in this bleak news, its greatest beneficiary will likely be the multifamily housing industry, which is certain to profit from growing ranks of renters.