News
Downtown Chicago Apartment Fundamentals Strengthen
Chicago-Apartment fundamentals in downtown Chicago will probably strengthen in the near future.
Mixed-Use Tower, Containing 198 Luxury Apartments, Opens in Chicago
Chicago–Flair Tower is located at 222 W. Erie St. in the large arts district of River North in Chicago.
DEAL OF THE DAY: ARA Finds 1.01-Acre Site in Houston for Pelican Builders
Houston–Atlanta-headquartered Apartment Realty Advisors (ARA) brokered the sale of a 1.01 acre land site located in Houston.
Townhome Community Sees Increase in Prices, Sales in 2010
Barnegat, N.J.–Whispering Hills, an 85-acre multifamily community in Barnegat, N.J., is now 45 percent sold.
From the Blog: Does President Obama Want to Privatize Public Housing?
By Keat Foong, Executive Editor Whether you are for or against it, would anyone be really surprised if President Obama tries to privatize social security, or impose regressive VAT taxation, down the road? For now, President Obama wants to privatize public housing. That is one interpretation of his Preservation, Enhancement and Transformation of Rental Assistance Act (PETRA). PETRA proposes to convert public housing—on a voluntary basis, it is emphasized—to project-based Section 8. This may be a boon to private multifamily owners and developers. Bankers also stand to benefit under the Act. Think of the immense, publicly owned, housing stock that is…
MARKET SNAPSHOT: Rental and Occupancy Increases Expected for the Queen City
Charlotte, N.C.—While vacancies in Charlotte, N.C. apartments hit an all-time high of 13.6 percent in March 2010, communities have seen an increase in traffic over the last 60 to 90 days.
San Francisco’s Arterra Condos Sell Out Despite Hard Times
San Francisco–Arterra, the first LEED silver residential high-rise in the city, has completely sold out.
Pending Home Sales Increase May Signal Growing Confidence in Economy
Washington, D.C.–Pending home sales are at the highest level since last October.
Tax Expert, Capitol Hill Veteran Matthew Berger Joins NMHC Lobbying Team
Washington, D.C.–Matthew M. Berger has been named vice president of tax for the National Multi Housing Council (NMHC). Berger will have principal responsibility for federal tax legislation as part of the Joint Legislative Program of NMHC and the National Apartment Association (NAA). Berger brings extensive public and private sector experience to the position. Most recently, he served as economist and press secretary for the U.S. Senate Committee on small business and entrepreneurship, where he was Senator Olympia Snowe’s principal advisor on taxes, the economy and the federal budget. Prior to that he was National Tax Manager for Deloitte Tax LLP in Washington,…
Trim Expenses–Not Service
Familiar rules, with new twists, guide maintenance during the downturn.