News
ULI Meeting, Expo Set to Be Carbon Neutral
By Anuradha Kher, Online News EditorColumbia, Md.–The ongoing 2008 Urban Land Institute (ULI) Fall Meeting and Urban Land Expo is all set to be completely carbon neutral as a result of funding from the Enterprise Green Communities Offset Fund.Enterprise will offset all the emissions of carbon dioxide generated by the meeting by providing funds to reduce an equivalent amount of emissions in environmentally sustainable affordable housing developments participating in Enterprise’s Green Communities initiative.“ULI’s commitment to offset its annual meeting means first and foremost that low-income families will experience the benefits of living in a green affordable home,” says Dana Bourland,…
Domus Names Del-Sano Contractor for HUD Senior Housing Project
By Erika Schnitzer, Associate EditorDumont, N.J.—Domus Housing Corp., the housing arm of the Catholic Charities of The Archdiocese of Newark, recently broke ground on a $10.4 million HUD 202 low-income senior housing project, St. Mary’s Senior Residence, in Dumont N.J. Del-Sano Contracting Corp., a U.S. Green Building Council member based in Union, N.J., was selected as the general contractor for the project, and Princeton-based Steven S. Cohen Architect P.C. designed the development, which is located on the grounds of St. Mary’s Parish at 280 Washington Avenue.The four-story, 45,000-sq.-ft. project will offer 49 one-bedroom units for residents ages 62 and older…
Property Management Leader Alex Jackiw Talks Current Events, Future Goals and More
Self-avowed political junkie Alexandra (Alex) Jackiw, CPM, CAPS, is executive vice president of Buckingham Companies, AMO, an Indianapolis-based full-service real estate management, development and construction company. She is also president of Buckingham Management LLC, Buckingham’s property management subsidiary, where she oversees a diverse portfolio of conventional, market-rate and tax credit multifamily assets in Indiana, Illinois, Ohio, Kentucky, Michigan and Tennessee. This portfolio totals more than 16,000 units as well as over 300,000 square feet of commercial space.In addition, Jackiw serves as president of the National Apartment Association (NAA) Education Institute as well as an NAA regional vice president for region…
While Single Family Prices Make Biggest Drop in S&P Index’s History, Apartment Prices Show Signs of Flattening
By Anuradha Kher, Online News EditorNew York–Even though the apartment sector had the highest returns over the past 12 months among all commercial real estate types at +0.4 percent, prices remained flat, according to Standard & Poor’s July results for the S&P/GRA Commercial Real Estate Indices. Nationally, commercial real estate prices for July 2008 too were level versus July 2007. The National composite reported an annual price change that was flat, compared to July of 2007. This is down from the +1.5 percent reported in June’s data. It is also well below this cycle’s peak of +14.7 percent, reported in…
Editor’s Note: Scary Times?
By Teresa O’Dea Hein, Managing EditorBeing scared is socially acceptable this week, with Halloween creeping up fast. But with job losses and fewer households being formed and tighter credit, even multi-housing executives are wise to be nervous.FDR’s famous phrase about “the only thing to fear is feat itself” has taken on new life, to the point where one of the New York daily newspapers printed it on its cover a few weeks ago after one of the stock market’s big declines.Plus, we should remember that many aspects of property management are controllable. For example, addressing maintenance/service needs promptly and with…
EDITOR’S NOTE: Getting the Banks to Lend
By Keat Foong, Executive EditorYou can bring a horse to water but you cannot make it drink. That appears to be the situation with regards to banks that are in the $700 billion program to receive capital injections from the federal government. There are discussions in the press about banks’ planning to hoard the cash, for acquisitions or other opportunities down the road, rather than make more loans. And there is the implication that the banks, shockingly, may even be continuing to reduce their volumes of lending irrespective of the cash injection. That is not welcome news. Banks need to…
TODAY’S DEALS: The Hoffman Co. Arranges Land Deal of $30M for Construction of Mixed-Use Project
By Anuradha Kher, Online News EditorOceanside, Calif.–The Hoffman Co. recently closed a $30 million real estate transaction in Oceanside, Calif. that will allow Piazza d’Oro, a residential mixed-use project, to move forward.The property, located north of Highway 78 at Rancho Del Oro Road and Vista Way, was acquired by ConAm Group of Cos., a San Diego-based real estate management and investment firm specializing in multifamily housing. The seller was K. Hovnanian Homes, a national homebuilder that partially developed the 14.4-acre property, which includes 221 multifamily residential units with commercial office space and retail elements.“This is a great property with substantial…
IREM Elects Officers for 2009
Chicago–The Institute of Real Estate Management (IREM) installed its officers for 2009 during the professional association’s fall business and governance meetings recently held in Chicago. Pamela W. Monroe, CPM, will serve as president; O. Randall (Randy) Woodbury, CPM, will serve as president-elect, and Ronald Goss, CPM, will serve as secretary/treasurer.With more than 25 years of professional industry experience, Monroe joined New Jersey-based Community Realty Management (CRM) in 2002 and serves as CRM’s senior vice president. Since beginning her career in Mobile, Ala., she has overseen properties throughout the Southeast, in Texas, Oklahoma, New Jersey, Pennsylvania, Maryland, Virginia and the Virgin…
Tarragon Corp., URSA Development Hold Tour of Newest Hoboken Rental
By Erika Schnitzer, Associate EditorHoboken. N.J.—Tarragon Corp., based in New York, and Hoboken-based URSA Development Group recently held a hard hat tour for prospective renters and leasing agents of their newest building in Hoboken, dubbed 800 Madison. Those on the tour could get a feel for the space, finishes and amenities, despite the project still being under construction.The project is Tarragon and URSA’s sixth residential development in a joint venture to build an all-new neighborhood in the Upper Grand area of Hoboken. When complete, the neighborhood will include 1,400 residences, including mid-rise and high-rise developments, and 14,000 sq. ft. of…
Premier Adds Range of Kitchen Products with PVD Technology to Bayview Collection
Premier Faucet has expanded its popular Bayview faucet collection to include a PVD (physical vapor deposition) brushed nickel finish, which provides a durable luster on each fixture. PVD technology is a plating process whereby a layer of a decorative metal is applied to a substrate, producing an armor-like finish that is molecularly bonded to the surface. PVD finishes are very durable and possess exceptional resistance to corrosion, tarnishing and scratching.Premier has added single-handle kitchen faucets, kitchen pull-out faucets, lavatory faucets, tub and shower faucets, towel bars, towel rings, toilet paper holders and robe hooks with the new PVD brushed nickel…