News
RentPayment Residents Can Now Pay Rents by Phone
San Francisco–RentPayment, a division of YapStone, Inc., has launched Pay by Phone for rental residents. Through Fonality and the RentPayment Integrated Payment Platform, RentPayment users can now easily and quickly pay rent with the touch of a few buttons. The Pay by Phone option is available 24/7, works with any touch-tone phone and requires no Internet access. Fully secure unique user IDs and PIN numbers are given to each resident, says the company. This system will help residents avoid late fees and enable property managers to reduce the time and expense associated with traditional means of payment.“This is just another…
Case Study: Brownfield Redevelopment Brings Mixed-Use, Mixed-income Residences to Denver
Jim Johnson, AIA, founder and principal of JG Johnson Architects in Denver and a past chair of the Denver Partnership Housing Council, discusses his firm’s work on a new mixed-use, mixed-income, transit-oriented development in Denver. When completed, Alexan Broadway Station will be comprised of 479 units and 14,000 sq. ft. of retail space and public amenities.Name of Project: Alexan Broadway Station/The Reserve at GatesType of project: This is a 479-unit, market-rate (419 units) and affordable (60 units) rental apartment project. Also included is approximately 14,000 sq. ft. of retail space and public amenities, including the leasing center, clubroom, fitness center,…
Perspective: A New Vision for Seniors Housing
By Bob Koch, Principal, Fugleberg Koch ArchitectsAs the emerging population of baby boomers enter their pre-retirement and retirement years, they are bringing to the market a new variety of housing objectives, activity interests and product responses to consider. They are not the generation that preceded them. Their interests, lifestyle, financial capacities, and tastes are the result of a body of life experiences that differ dramatically from seniors in the earlier era.The New Group of SeniorsAs a group they arrive at mature years with a higher education, a healthier awareness, a worldlier vision, more discretionary income, and an appetite to pursue…
Housing Trust Fund Not Expected to Help Low-Income Housing Until 2010
By Anuradha Kher, Online News EditorWashington, D.C.–The national Housing Trust Fund is the first new federal rental housing production to specifically assist the lowest income households in the U.S. since 1974. Included in the Housing and Economic Recovery Act of 2008 that was signed into law a few weeks earlier, the fund is not expected help in construction of new affordable housing units until 2010.“The US Department of Housing and Urban Development (HUD) has 12 months to promulgate and allocate the funds, after which they have 60 days to allocate the funds to states,” Linda Couch, deputy director of the…
Mr. Bamboo Introduces VOC- and Formaldehyde-Free Bamboo Flooring
Mr. Bamboo Inc. has introduced its BamLoc, a 100 percent strand-woven, “click” bamboo floor. Designed to lock together, BamLock is reportedly easy to install on any type of subfloor.BamLoc is free of VOCs, uses a formaldehyde-free adhesive that conforms to the European E1 standards–more rigid than U.S. standards–during the lamination process, and is finished with a water-based ceramic sealer.BamLoc is available in two-, four- and six-ft. sections that are 5 1/8-in. wide and 7/16-in. thick. Mr. Bamboo offers the flooring in a natural (shown) or coffee color, in addition to four finishes. It was created to be as strong as…
Labor Pains
By Teresa O’Dea Hein, MHN Managing EditorDoesn’t it always seem ironic that yesterday’s Labor Day is when most of us — happily — tend to do the least amount of actual labor? It’s a great tradition, originated in 1882 when the Central Labor Union of New York City sought to create “a day off for the working citizens.” Labor Day became a federal holiday in 1894 in one of Congress’ better moves. However, labor issues in the property management industry remain challenging, with double-digit turnover. For 2007, the average employee turnover rate for on-site leasing agents was 29.3 percent, 20.45…
The Industry Prefers Status Quo for Fannie, Freddie
By Keat Foong, Executive EditorIn the past week, press reports seem to be intensifying in regards to the need for a government bailout of Fannie Mae and Freddie Mac. Financial conditions at the Government Sponsored Enterprises (GSE), it is reported, are continuing to worsen; their stock prices have fallen by a chunk so far this year; investor confidence in the GSEs’ debt securities is falling and consequently, the agencies’ cost of capital is rising. In the midst of all these reports, there is speculation that Fannie Mae and Freddie Mac cannot continue in their present structures in the long term…
Multi-Housing Executives Update: MBA Appoints Jay Brinkmann as Chief Economist, and Other Moves
By Anuradha Kher, Online News EditorWashington, D.C.–The Mortgage Bankers Association (MBA) recently named Jay Brinkmann (picturedleft) as chief economist and senior vice president for research and economics. Brinkmann has been with the MBA since 2001 and has served as the organization’s vice president of research for most of that period.”When the position first became vacant last March, Jay suggested we conduct a national search to find an ideal candidate,” says John A. Courson, MBA’s chief operating officer. “After months of interviewing many well-qualified candidates, it became apparent that the best candidate already worked at MBA and we approached Jay to…
TODAY’S DEALS: HFF Arranges Debt, Equity Totaling $46.5M for Mixed-Use Development, and other Transactions
By Anuradha Kher, Online News EditorEncinitas, Calif.–HFF (Holliday Fenoglio Fowler LP) recently arranged a $36.5-million construction loan and $10 million in joint venture equity for the development of Pacific Station, a mixed-use project in Encinitas, Calif.HFF placed the 60-month construction permanent loan with La Jolla Bank and secured the joint venture equity with Fidelity Real Estate Group. Upon completion in the fourth quarter 2009, Pacific Station will have 38,500 sq. ft. of retail, including Whole Foods and a signature restaurant, 10,000 sq. ft. of office space, 47 residential units and a two-level underground parking garage. Ardizzone Enterprises Enters Apartment Market…
NWP Services Acquires ViaStar Energy
Irvine, Calif.–NWP Services Corp. (NWP) recently acquired ViaStar Energy Inc., an Indianapolis-based provider of utility billing and meter installation and maintenance services to multifamily communities, manufactured housing communities, condominiums and retail properties. This acquisition helps NWP add a strong presence in the Midwest. ViaStar’s management, including customer liaison and technical support, will continue to serve the company’s clients.“With its best-in-class billing system and ability to effectively implement significant new volumes of properties in a very short window of time we knew that NWP was just the right company to service our customers into the future at the high level of…