Regions
When Affordable Housing Isn't Really Affordable
Families living in affordable housing know their housing costs cannot exceed 30 percent of their incomes. But that affordability can be nullified if the housing is not located in areas with comparatively affordable transportation costs.
TODAY'S DEALS: American Campus Communities Begins Drexel University Project
American Campus Communities begins a $97.6 million mixed-use development at Drexel University; Marcus & Millichap lists a 137-unit asset in the Bay Area; and KeyBank provides $44 million in Freddie Mac funding for three communities.
Fat City Lofts Project in Danger as CCDC Votes in Favor of Solar Turbines
By Gabriel Circiog, Associate Editor The Center City Development Corp. board has cast its vote on the Fat City Lofts development. As previously reported, Solar Turbines has opposed the project arguing that coexistence with the planned 232-unit apartment development would be virtually impossible. The company stated that the development would attract an environmental review that […]
On Track: Construction of Charlotte Transit-Oriented Development
Construction is now underway on the Fountains at New Bern Station, a 208-unit luxury rental community in Charlotte, N.C.’s historic South End.
TODAY'S DEALS: Steadfast Income REIT Acquires 424-Unit Asset
Steadfast Income REIT acquires its second asset in Iowa; Pembrook arranges rehabilitation financing to the tune of $32 million; and Marcus & Millichap completes a $2.2 million sale at a 8.1 percent cap rate.
$3.4B in Multifamily Property Energy Savings for the Taking
According to a report released by CNT Energy and the American Council for an Energy-Efficient Economy, multifamily building owners could keep approximately $3.4 billion in their pockets annually through energy efficiency upgrades.
Students Given Opportunity to Pay Rent Through Facebook
Campus Apartments now allows residents to pay rent on its online account portal SmartClick via Facebook Connect.
TODAY'S DEALS: Charles Dunn Completes $17M L.A. Sale
Charles Dunn Company completes a $17 million sale in Los Angeles; SL Green closes a joint venture acquisition with Stonehenge Partners; and NorthMarq Capital arranges a $20.1 million mortgage/bridge loan for a seniors housing portfolio.
Florida Master Planned Communities Doing Well Despite Headwinds
Despite the difficult residential market in Florida, the top-selling U.S. master planned community in 2011 is in that state, according to a new study by John Burns Real Estate Consulting, as is the number-nine seller.
MARKET SNAPSHOT: Las Vegas Recovers Select Jobs, Increasing Multifamily Sales
Multifamily sales in the Las Vegas metro area increased by 59.6 percent between the third quarters of 2010 and 2011, this in concurrence with the overall unemployment rate dropping from 15.5 percent to 14.2 percent.