News
Michigan Developers Unveil Affordable Housing Projects with Amenities and Design
By Anuradha Kher, Online News EditorKalkaska/Jackson, Mich.–Brookstone Capital and Hooker DeJong have completed construction of two affordable housing developments in Kalkaska and Jackson, Mich. Both the projects have architecture and amenities seldom offered in affordable housing projects in the U.S. The Village at Rivers Edge in Kalkaska has 48 walk-up apartments. The exterior features a bold color palette intended to offer residents an alternative to the dominant neutral gray and beige. It also features individual entries with full glass doors, multi-colored siding with eleven different colors, gabled roofs with outdoor patios and decks providing a view of the river and surrounding…
Plans for Mixed-Use ‘District of Metuchen’ Unveiled
By Anuradha Kher, Online News EditorMetuchen, N.J.–Renaissance Properties has unveiled its plans for the District at Metuchen, a mixed-use project containing 121 condominiums, as well as 77,000 sq. ft. of retail space, 20,000 sq. ft. of office space and parking area for 250 cars. The six-acre site, which was bought by the developer, contains an abandoned supermarket and is located at the intersection of Middlesex and Lake Avenues.Dave Minno of Minno & Wasko, an architecture and planning company based in Lambertville, N.J., has finished designing the project and construction is expected to begin at the end 2008.“This site is in…
Green Cleaning Strategies
By Stephen Ashkin, Executive Director, Green Cleaning NetworkProperty managers have their hands full with a wide variety of issues that affect success. From leasing requirements to property maintenance to simply dealing with residents, cleaning perhaps is low on the list of “things to do,” especially if no one is complaining. However today, “green” is everywhere and perhaps nothing is easier than implementing “green cleaning.” Green cleaning has become the proverbial “low-hanging fruit.” Green cleaning is important because these approaches can protect occupant health while minimizing negative impacts on the environment. It is relatively easy to implement, both in areas under…
BRE Properties Appoints SVP and Four VPs
San Francisco–BRE Properties Inc. has appointed a senior vice president and four vice presidents. Deborah Jones (pictured) has been promoted from vice president to senior vice president of associate relations and development. Marco M. Vakili has been chosen for the post of vice president of development in Southern California, Tami Busse has been made vice president of internal audit, and Jason Crichfield, who used to be assistant controller, will now be vice president of finance. Ex-director Debra Van Cleve is now the vice president of associate learning and development. Jones joined BRE in 2005 as vice president, associate relations and development,…
Atlanta Tornado Spares the City’s Multifamily Projects
By Anuradha Kher, Online News EditorAtlanta–A tornado hit downtown Atlanta last week, damaging the city’s convention center, the Georgia Dome (which was hosting the SEC basketball tournament) and Centennial Olympic Park. The storms left two people dead and caused about $150 million in damage to city buildings. It did however spare the multifamily market from any substantial damage.“Downtown Atlanta has a lot of office buildings and hotels, not multifamily projects” Jake Reid, multifamily investment specialist in the Atlanta office of Marcus & Millichap Real Estate Investment Services, tells MHN. “The hospitality industry has been greatly affected by the tornado, but…
7 Savvy Practices for More Efficient Resident Screening
level of incentives required and compliance with Fair Housing standards can be automated. 7. Pull It All Together Remember, the whole is greater than the sum of the parts and advanced screening practices can dramatically improve property performance. Today, better data and new technology tools deliver more sophisticated data analysis and help property managers and leasing officers make important business decisions with much greater confidence. This is a win-win for everyone–renters, leasing offices and property owners.For renters, even as data becomes more accessible, access itself is becoming more secure to protect confidentiality. Current regulations, for example, require resident screeners to…
Housing Decline Hurts the Small Business Sector
Washington, D.C.–Small businesses are the latest victims of the housing and credit crunch, according to The Washington Post.Business casualties are increasing quickly in Washington-region bankruptcy courts. The number of corporations filing for Chapter 11 has more than doubled in Maryland, Eastern Virginia and the District of Colombia from the same period last year. Twelve times as many smaller firms tried to liquidate under Chapter 7 during the same period.According to a 2007 report by the Board of Governors of the Federal Reserve System, small businesses are greatly affected by economic downturns. A third of all such businesses don’t make it…
Fed Announces Unprecedented Programs to Help Investment Firms
Washington–Fearing a chain reaction of financial market defaults, the Federal Reserve approved a $30 billion credit line to allow the takeover of Bear Stearns and revealed a new lending program for Wall Street’s biggest investment firms on Sunday.The Fed also reduced the rate borrowing rate tied to its discount window to 3.25 percent, a quarter of a percentage point decrease, the New York Times reports.The Fed agreed after weekend negotiations to a $30 billion credit line to help JPMorgan Chase acquire Bear Stearns–one of the biggest firms on Wall Street–which mortgage market losses had almost crippled. In addition, the Fed…
CBT Celebrates Green Day
By Anuradha Kher, Online News EditorBoston–CBT, a design firm providing services in architecture, urban design and interior design, recently turned its office into an educational platform for sustainable initiatives, at the firm’s third annual CBT Green Day. About 175 of CBT’s 250 employees attended the Vendor Fair and 65 attended the keynote lecture held as part of the celebration.“CBT employees share the belief that we need to take responsibility for sustainable design and inspire others to do the same,” says Ken Lewandowski, AIA, LEED AP, chairperson of CBT’s Sustainable Design Committee. “As designers, we strive to maximize the quality of…
Armstrong
The Grand Illusions Premium Laminate floors from Armstrong have an anti-bacterial surface providing resistance to mold, bacteria and fungus. Each plank in the series is 12mm thick, providing for greater sound reduction and improved ‘in-room sound.’The floors come in four hardwoods–Walnut, Tigerwood, Afzelia and Cherry. In addition, Grand Illusions also offers the looks of Brazilian Jatoba, Cabrueva, Cherry Bronze and Melbourne Acacia.The Grand Illusion Premium Laminate surface is nine times more resistant to dents and scratches than traditional hardwood, making it a useful product for families with kids and pets.Armstrong’s Hydra-Core Plus high-performance core with color-coordinated edges looks like solid…