Midwest
Illinois Launches Affordable Housing Preservation Initiative
The Illinois Housing Development Authority (IHDA) has launched a statewide initiative to preserve affordable rental homes in Illinois.
Washington University Pre-Med Student Wins Broadway Show Tickets Through ForRent.com Contest
Meghan Wright, a 22 year-old pre-med student at Washington University in St. Louis, Mo. recently entered a contest and won tickets to the RENT Broadway show.
DEAL OF THE DAY: Arbor Closes $4,000,000 Fannie Mae DUS Coop Loan
Topeka, Kansas- Arbor Commercial Funding LLC arranged the funding of a $4,000,000 loan under the Fannie Mae DUS MAH Coop Loan product line for the 200-unit complex known as Fox Ridge Townhouses in Topeka, Kansas.
MARKET SNAPSHOT: Southeast Michigan Shows Some Signs of Recovery
Although it is still struggling to some extent, downtown Detroit has shown some positive signs of slowly bottoming out, especially given the auto industry’s gradual rebound.
Dominium Management Services Hires Debbie Vail
Debbie Vail has been named regional manager of Dominium Management.
DEAL OF THE DAY: Berkadia Originates $24,095,200 in FHA Financing at 4.63% Interest
McHenry, Ill. –Berkadia Commercial Mortgage LLC (Berkadia) originated two permanent, fixed-rate loans totaling $24,095,200 for multifamily properties in McHenry, Ill.
MARKET SNAPSHOT: Windy City Relatively Stable Compared to Other Midwest Markets
Apartment operating fundamentals throughout Chicago are expected to remain soft this year, particularly in the suburbs, according to the Marcus & Millichap’s 2010 National Apartment Report.
Mixed-Use Community Achieves First LEED ND Certification
Excelsior & Grand, a 17-acre, mixed-use community in St. Louis Park, Minn., has received the nation’s first LEED (Leadership in Energy and Environmental Design) for Neighborhood Development certification for a “Stage 3, Completed Project” under its Pilot Program.
In Historic Federal Courthouse, Co. Builds 176 Workforce Housing Apartments
The Alexander Co. of Madison, Wisconsin, has acquired the historic U.S. Federal Courthouse in downtown Kansas City, Miss. The company will renovate the 72-year old Courthouse into 176 workforce-housing apartments as part of a $35 million public/private partnership.
National Trust for Historic Preservation Presents Awards to Multifamily Developments
The National Trust for Historic Preservation presented 23 awards during its 2009 National Preservation Conference in Nashville, Tenn. Of these awards, two were multifamily-oriented.