News
Landscape Architecture Students Design Terraces for Philly Developer
By Anuradha Kher, Online News EditorPhiladelphia–The DePaul Group, developer of The Residences at Dockside in Philadelphia recently commissioned two landscape architecture students from Temple University Ambler to design the property’s terraces.Seniors Jenny Stewart and Jennifer Johnson used a collection of annual plants chosen specifically for the waterfront climate based on the surroundings and the overall feel at the luxury property. The plant selections included Lantana ‘New Gold,’ oleanders, Dracaena ‘Dusky,’ salvia ‘Black and Blue,’ leymus ‘Blue Dune,’ alternanthera ‘Purple Knight’ and others. During the course of the project, the students researched the environment, took photos of the site, measured the…
South Florida Construction + Design Firm Sees Success in Just Three Months
By Erika Schnitzer, Associate EditorAventura, Fla.–In its first three months, LBC Design + Construction, an Aventura, Fla.-based decorating, creative consulting and construction planning firm, has been commissioned for $2.65 million worth of new business, modeling and decorating in South Florida.”We’re kind of an all-inclusive company,” says Louis Cohen, founder and principal of LBC Design, who formed LBC Design + Construction with Jason Shelley, vice president and general contractor at Shelby Homes. “We have really every service one might need within our company. We do everything from custom remodeling, home building and interiors. We do commercial work for lobbies, clubhouses, retail…
Today’s Deals: Manhattan Luxury Developments Get $613.6M Construction Loan, and Other Transactions
By Anuradha Kher, Online News EditorNew York–The New York office of HFF (Holliday Fenoglio Fowler L.P.) arranged a $613.6 million construction loan for the development of two ultra-luxury multifamily properties in Manhattan’s Upper West Side.The three-year construction loan is placed with a consortium of nine banks led by Deutsche Bank. The senior portion of the loan represents 60 percent loan-to-cost with an additional mezzanine portion achieving approximately 72 percent loan-to-cost.The development site is located along Riverside Drive between 62nd and 63rd Streets. It is part of the 52-acre Riverside South Development, which will have a mix of for-sale condominium units,…
FINANCE & INVESTMENT: How a Real Estate Workout Works
By Stuart M. Saft Dewey & LeBoeuf LLPReports on the softening residential real estate market continued unabated through the first half of the year, as thousands of homes in Florida, Arizona, Las Vegas and nearly every other market sit partially-built and unsold. In addition, most regions are now also experiencing a weakening in office leasing and investment sales activity. As a result, we are seeing more defaults in the market both in the residential and commercial real estate arenas. In the event the borrower defaults, the lender basically has five alternatives: take no action and hope the problem resolves itself;…
Lane’s First Development in Florida Starts Leasing
By Anuradha Kher, Online News EditorOsceola County, Fla.–Lane Florida’s first development, Verano Apartment Homes in Osceola County, Fla. near Walt Disney World, has now begun now leasing. The 384-unit apartment community, expected to be fully ready in February next year, is now 60 percent complete. It is located at 2200 Villa Verano Way just off exit 244 of the Florida Turnpike.Lane received financing for this project last year, much before the economy started slowing down.“We opened the Florida office in 2006 because the state is a vibrant and active market and a region in its own,” Mike Mulhall, Florida regional…
CPC Exceeds Loan Closing Goals for Fiscal Year in the Midst of Housing Downturn
By Anuradha Kher, Online News EditorNew York–Despite the turbulent economy and the housing and mortgage crisis plaguing our nation, the Community Preservation Corporation’s (CPC) Brooklyn office has closed $369 million this fiscal year, exceeding its $210 million goal for this year, as well as its $273 million closing amount for the previous fiscal year.“Part of the reason for this is that the New York market has been fairly stable in the midst of this crisis,” Mary Brennan, senior vice president and regional director of CPC, Brooklyn, tells MHN. “The other reason is that our mission is meet the capital needs…
Renters Will Spend Close to $1,500 on Moving Costs in Current Economy
By Anuradha Kher, Online News EditorChicago–More than 50 percent of renters said they have either already spent, or anticipate spending more on their move this year compared to years past, according to a national survey by Apartments.com. Soaring energy costs is a major reason, according to the survey. Fifty-four percent of renters cited professional movers and truck rentals as their two biggest expenses. Furniture followed with 17 percent and bedding, bath and home goods account for 9 percent. According to the American Moving and Storage Association (AMSA), overall price increases reflected in professional moving costs can be impacted by a variety…
Treeborn Mosaic Flooring Provides Cushioned Hardwood Floor
Made with end-grain African hardwood, Treeborn Mosaic Flooring is comprised of a collection of mosaic tiles sealed with a flexible polymer grouting, Flexi-Grout, over an optional cushion layer of varying thicknesses. Treeborn is made from exotic woods such as Sapele, Iroko, Danta, Dahoma and Ebony. Its standard underlayments are ¼-in. thick and have a low R-value, allowing it to be applied over radiant heat. Also available is a sound isolation version.Designed to allow the floor to expand and contract along with the wood, Flexi-Grout is pliable and reportedly unaffected by moisture. It is available in six colors colors: Black, Dijon,…
Case Study: The Need for Transit-Oriented Design in Long Beach, Calif.’s Redevelopment
Dan Withee, partner, and J. Roderick de la Rosa, senior associate, both of Torrance, Calif.-based Withee Malcolm Architects, discuss one of their latest projects, a mixed-use, transit-oriented development in downtown Long Beach, Calif. Name of Project: PacificaType of project: Pacifica is a mixed-use development with 62 condominium units and 5,300 sq. ft. of ground-floor retail. It offers one-, two- and three-bedroom plans configured as single-floor lofts and two-story townhouses that range in size from 664 to 2,139 sq. ft. Describe overall site size and square footage of primary building: It is an urban infill site with a 0.66-acre lot area….
American Valve’s Scald Prevention Bath Line
American Valve’s new product line, called HotStop Scald Prevention, features faucets, tub spouts, showerheads and hand showers, all of which contain a patent-pending temperature actuated flow control (TAFR) feature certified to ASSE Standard 1062. This feature is designed to reduce water flow to a trickle when water reaches unsafe temperatures, and automatically return to normal flow after the temperature is reduced. Once the water in the line cools, the flow re-starts automatically—usually in less than 30 seconds. It still allows users to set water heater temperatures at a safe level to avoid Legionellae contamination. Because it is an end-point device,…