Midwest
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.
Minn. Affordable Rental Community Garners LEED Silver Certification
Cascade Creek Apartments, a mixed-use development offering 40 affordable housing units, has been awarded LEED Silver Certification by the U.S. Green Building Council.
Apartment Specialist McKinley Expands into Student Housing
McKinley, an owner and manager of about 33,000 apartment units, is expanding into student housing.
Historic Rehab Uses 1000-Plus Energy-Efficient Windows
In an example of a major green upgrade to an old multifamily structure, Community Housing Concepts and the Monroe Group, owners of the Castle Park Apartments complex in Normandy, Mo., have overseen the installation of about 1,100 new energy-efficient windows during the major rehabilitation of the structure.
Senior Affordable Housing Apartments in Canton Receive $10 Million from AFL-CIO Housing Investment Trust
The AFL-CIO Housing Investment Trust has agreed to invest $10 million in the rehabilitation of the 144-unit Mayfield Manor Apartments, a senior affordable housing community in Canton, Ohio.