Midwest
Report Sees Greater South Atlantic Development Opportunity
Construction activity slumped markedly during the recession, resulting in good near-term opportunity for increased building of multifamily housing in every state.
MARKET SNAPSHOT: Vacancy in Milwaukee Ticks Up Slightly with Expanding Development
The city of Milwaukee is set to see the largest increase in apartment inventory since 2000, with 700 units expected to come online by year’s end.
Opus Begins Construction on Village of Lisle Luxury Multifamily Development
Opus Development Corporation has begun construction on Arboretum Landmark, a four-story luxury apartment complex in Lisle, Ill.
Vacancies Down, Rents Up in Chicago Apartment Market
Recently employed residents are forming new rental households in Chicago, which generates positive net absorption of apartment units; however, there isn’t enough supply yet to meet that increasing demand.
Steadfast Income REIT Acquires Luxury OKC Property
Steadfast Income REIT has made its second Oklahoma City-area acquisition of the young year.
MARKET SNAPSHOT: Employer Growth Translates to Plummeting Vacancies and Higher Rents in Louisville, Ky.
An expansion in payrolls is likely to add an exclamation point to an already strengthening multifamily sector in Louisville, as employers such as UPS, General Electric and Ford plan to boost hiring in the metro throughout 2012.
Pullman Wheelworks Wins Financing for Rehab
Mercy Housing Lakefront and National Housing Trust/Enterprise Preservation Corp. have obtained financing for the rehabilitation of the Pullman Wheelworks, a 210-unit affordable housing apartment building on Chicago’s south side.
Latin United Community Housing Association Receives $4.7 for Affordable Housing
BMO Harris Bank has extended a $4.7 million construction loan to the Latin United Community Housing Association to provide renovations on the Borinquen Bella Apartments.
St. Louis-Area Senior Housing Gains Capital Infusion
Two low-income senior housing developments in the St. Louis suburb of Shrewsbury, Mo., will gain a much-needed capital infusion of $6.6 million from the AFL-CIO Housing Investment Trust.
Essex Realty Group Selling 740-Unit Chicago Rental Portfolio
Essex Realty Group has been named the exclusive broker for a 740-unit portfolio of five buildings in the Uptown and Rogers Park neighborhoods of Chicago.