Midwest
NWP Regulatory Update: Ohio & Connecticut
The Ohio Legislature has two more weeks of regular sessions before they close up shop for the year. It is possible that the legislature may reconvene for a Special Session in June, if necessary. Additionally, the Connecticut Public Utilities Regulatory Authority has requested comments to their Draft Electric Submetering Rules due on May 15, 2014.
Bellwether Enterprise Expands East Coast Presence with New Hire and New Office in Boston
Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, announced the hiring of Paul E. Donahue as senior vice president.
Edward R. James Companies Constructing 29-Unit Townhome in Chicago’s North Shore
Edward R. James Companies has received approval from the Park Ridge Planning and Zoning Commission to develop Brighton Mews, a 29-unit luxury townhome development in the heart of Park Ridge, Ill.
Shamrock Communities Announces Re-Opening of Indianapolis Community
Shamrock Communities kicked off the grand re-opening of Cottages of Fall Creek Apartments in Indianapolis with an on-site ribbon cutting ceremony to celebrate the repositioning of the community.
Annex Student Living Continues to Increase Collegiate Portfolio
With the addition of three Midwest assets over the past year, Indianapolis-based student housing developer Annex Student Living increased its portfolio by $35 million and has contracts in place to grow its total assets to nearly $100 million by 2016.
APARTMENT MARKET STATISTICS: May 2014
According to PPR/CoStar, average apartment sales price was $107,501 per unit in the fourth quarter of 2013, down slightly from the same period in 2012.
IREM and University of Alabama Collaborate to Advance Real Estate Management Education and Careers
The Institute of Real Estate Management (IREM®) and the University of Alabama (UA), founded in 1831 as Alabama’s first public college, have signed a Memorandum of Understanding.
Joint Venture Begins Work on Historic Apartment Rehab in Detroit
Ground has been broken on the redevelopment of Cass Plaza and the Davenport Building, two properties in the Cass Corridor in Midtown Detroit. The redevelopment of the buildings will provide affordable apartments for 47 families.
LaSalle Group to Break Ground on Chicago-Area Memory Care Community
The LaSalle Group will break ground on its ninth Chicago-area memory care community.
Greystar to Manage Student Apartments in Muncie, Ind.
Greystar Student Living will manage Windermere Place Apartments, a 672-bed student housing community in Muncie, Ind.