Regions

By Anuradha Kher, Online  News Editor Irvine, Calif.–Guardian Management LLC, through a  newly formed corporation will acquire the southern  California and Arizona offices of Sperry Van Ness. With this acquisition,  Guardian will hold the development and franchise rights for Sperry Van Ness in  Southern California, Arizona and Oregon. Guardian’s president, Tom Brenneke,  will become a member of the Sperry Van Ness board of advisors.   “This move diversifies us geographically and with product types  and will improve our deal flow,” Tom Brenneke, president of Guardian  Management LLC, tells MHN. “While we do some brokerage as a company, this will  really formalize it.”…

is Lend LeaseArchitect/Interior Designer: WHA Architecture and Planning PCCategory: UnbuiltMirabella South WaterfrontPortland, OROwner/Investor: Pacific Retirement ServicesArchitect/Interior Designer: Ankrom Moisan Associated ArchitectsBuilder: Hoffman Construction CompanyFifteen Twenty-One Second AvenueSeattleDeveloper/Builder: Opus NWR LLCArchitect of Record: Opus Architects and EngineersDesign Architect: Weber ThompsonInterior Designer: Susan Marinello InteriorsBarn Lofts Los AngelesDeveloper: The Borman Group LLCArchitect/Interior Designer: Rockefeller Partners ArchitectsBuilder: Carr ConstructionCategory: Interior DesignMidtown Bethesda North Condominiums North Bethesda, MDDeveloper: KettlerInterior Designer: ForrestPerkinsArchitect (base building): Dorsky Hodgson Parish Yue ArchitectsBuilder: Bovis Lend LeaseChelsea Modern Sales + Design GalleryNew YorkDeveloper: Madison Equities LLCArchitect/Interior Designer: Audrey Matlock ArchitectBuilder: Diamond Construction

By Keat Foong, Executive EditorHalf Moon Bay, Calif. — Fannie Mae is working on a number of enhancements to its multifamily financing offerings, including a combined construction-permanent financing product. The agency says it is cooperating with several DUS lenders who have construction lending expertise to combine construction financing with permanent debt. “The construction-to-permanent product will offer a seamless, lower cost execution and more certainty for the construction of new multifamily properties,” Fannie Mae states.Currently, only HUD offers a multifamily construction-permanent loan, under its FHA mortgage insurance program. HUD’s combined financing requires one underwriting and approval for both loans, with the…

By Anuradha Kher, Online News EditorNew York–The Community Preservation Corp. (CPC) and the New York City Department of Housing Preservation and Development (HPD) recently provided a $4,700,764 construction loan for the top-to-bottom rehabilitation of one partially occupied, and two vacant residential buildings in the Flatbush section of Brooklyn, New York.After rehabilitation, the buildings located at 2516 Newkirk Ave., 561 Rogers Ave. and 2506 Albemarle Rd., will feature 25 new rental apartments for low- and moderate-income families.The three properties were sold to Nayelli Partners, the developer, for $50,000 under HPD’s Third Party Transfer Program, which forecloses on tax delinquent properties and…

The Austonian is seeking a four-star rating from Austin’s Green Builder designation.

By Anuradha Kher, Online News EditorWashington, D.C.–The Internal Revenue Service has published long-awaited regulations changing the way rents are adjusted on Low-Income Housing Tax Credit (LIHTC) properties where residents pay for their own utilities. This gives LIHTC property owners more flexibility in the way they calculate utility allowances for their low-income residents.”Considering the exponential increases in energy costs, the new utility allowance regulation will allow builders to more accurately calculate the energy usage for their buildings, therefore reducing long-term operating costs,” says Justin MacDonald, a Kerrville, Texas-based LIHTC developer and chairman of the National Association of Home Builders’ (NAHB) Housing…

By Anuradha Kher, Online News EditorNew York–The residences at Barclay Tower, located at 10 Barclay St., are now 100 percent leased. The 396-unit apartment project developed by New York-based Glenwood started leasing in May 2007. It is the developer’s newest building and one of three properties that Glenwood owns downtown.“We are delighted by how quickly Barclay Tower has become one of the leading residences in Downtown Manhattan,” says Gary Jacob, executive vice president, Glenwood. “Barclay Tower is an ideal choice for anyone who wants beautiful living spaces and exceptional amenities.”Barclay Tower offers high-end amenities including a lobby with a 24-hour…

By Anuradha Kher, Online News EditorTampa, Fla.–Sterling American Property Inc., in a joint venture with The Collier Cos., recently acquired St. Croix Apartments, a 540-unit resort-style apartment community located in Tampa, Fla. for $38,350,000. “We are cementing this property’s position as the ideal live/play environment for the 20- to 30-year-old age demographic that populates this area,” says Jeff Smith, senior vice president of acquisitions at Sterling.St. Croix Apartments boasts 700 sq. ft. of frontage on 14535 Bruce B. Downs Blvd., in northeast Hillsborough County. The property is located between Tampa Palms and the University of South Florida, the ninth largest…

By Erika Schnitzer, Associate EditorAgoura Hills, Calif.–AMCAL Multi-Housing Inc. has partnered with Watts Labor Community Action Committee (WLCAC)’s YouthBuild program to help local youth develop leadership skills by constructing Casa de Angeles, a 49-unit affordable housing development in south Los Angeles.“When YouthBuild participants see Casa de Angeles, whether it’s next year or 10 years from now, they will have the satisfaction of knowing their hard work helped transform their community and made a positive impact on families in need,” says Percy Vaz, president and CEO of AMCAL. “The participants should be commended for recognizing their own potential and for making…

By Anuradha Kher, Online News EditorNew York–The AFL-CIO Housing Investment Trust (HIT) has committed to invest $7.8 million in the Big Six Towers, a cooperative housing complex in Queens, New York with long ties to the labor movement. The investment will allow the complex to remain affordable for middle-class working families and retirees.Approximately one-third of the residents of The Big Six Towers, developed in 1961, are active or retired union members. Big Six Towers participates in New York’s Mitchell-Lama program, which provides affordable rental and co-op housing for middle-income families.”We are pleased to make an investment that will keep Big…