Midwest
Boston Capital Invests in Three Oklahoma Affordable Multifamily Developments
Boston Capital is investing in the construction of three affordable multifamily developments in Oklahoma totaling 105 units that will be built with tax credit equity from the Low Income Housing Tax Credit program.
MARKET SNAPSHOT: St. Louis Market Gradually Improves, With Employment Poised to Make a Comeback
As employment begins to rebound and new construction remains minimal, rents in St. Louis are expected to climb 2.3 percent before the end of the year.
Chicago Investor Buys South Side Property, Plans Rehab
Tricap Chicago, an apartment property specialist, has acquired a 31-unit apartment building on South Greenwood Ave. in Hyde Park’s Kenwood neighborhood.
Twin City Multifamily on a Roll
Apartment rents in the Twin Cities have reached record highs, according to the latest report on the market by investment specialist Marcus & Millichap.
MARKET SNAPSHOT: Rents at Record Highs Prior to New Wave of Construction in Minneapolis
As many continue to have reservations about entering the single-family market, apartment demand has boomed in the Minneapolis/St. Paul metro area, with the overall Q3 2012 vacancy rate coming in at 2.4 percent.
AFL-CIO Housing Investment Trust Gives $41 Million for New St. Paul Mixed-Use Development
The AFL-CIO Housing Investment Trust has committed $41 million of union pension capital to help finance the Penfield, a $62 million mixed-use development in downtown St. Paul.
Luxury Rental Community Breaks Ground in Chicago Suburb
The leafy Chicago commuter suburb of Wheaton is not one of the first places folks would associate with rental housing. Not by a long shot.
Historic Chicago Units Customizable for Residents
Metropolitan Properties of Chicago recently announced that Richelieu Flats, an adaptive reuse of a seven-story building, is part of the historic South Michigan Avenue “streetwall.”
Chicago Developer Breaks Ground on Local Apartment Properties
M&R Development has broken ground on two Chicago-area multifamily properties, one in the city, and the other in north suburban Evanston.
Suburban Twin Cities Apartments Sells for $22.7M
Newport on Seven, a 167-unit apartment property in suburban Minneapolis, has traded hands for about $22.7 million, or over $136,000 per unit.