Regions
Construction Resumes at Brooklyn Condominium
Construction has resumed at Be@Schermerhorn, Jamestown Properties and SDS Procida’s 246-unit condominium. Sales are expected to re-launch in spring 2010.
HUD Secy. Donovan Addresses NYHC, NHC’s 36th Annual New York Housing Awards Luncheon
Shaun Donovan, secretary of The Department of Housing and Urban Development (HUD), was the keynote speaker at the New York Housing Conference (NYHC) and the National Housing Conference (NHC) Annual Awards Luncheon.
Apartment Finder Launches iPhone App
Apartment Finder has launched a new application that provides iPhone and iPod Touch users access to all its listings. Prospective residents can now use their cell phones to map apartment listings nearby or email or call properties directly for more information.
CBRE to Sell Chicago’s Largest Master-Planned Community
CB Richard Ellis has been retained to sell Grande Reserve, Yorkville. With a total of 1,877 residential units situated on 771 acres, this is the largest master-planned residential community in the Chicago area to come to market.
Aries Capital Launches Multifamily Division
Aries Capital recently announced the formation of Aries Multifamily, a new operating division of the firm that will provide loans under $5 million for apartment properties across the nation. The new division will be led by Ryan Welsh, a commercial real estate executive with more than 10 years of experience incorporating commercial and multifamily underwriting, loan origination, portfolio management and loan sales.
New Associations Formed for Student Housing, Research Specialists
Jack Kern, managing director at Washington, D.C.-based Kern Investment Research LLC, and Dr. Sam Chandan, president and chief economist of Real Estate Econometrics, recently announced the launch of The National Student Housing Council (NSHC) to focus exclusively on the student housing sector. John Buttarazzi, owner of Varsity Capital Advisors, is the organization’s founding advisory board president.
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.
Organization Launches $4B Green Initiative for Affordable Housing
The green movement in commercial real estate has caught on like wildfire and even with the recession having left most clutching their pocketbooks, it continues to spread. Now Columbia, Md.-based Enterprise Community Investment Inc. plans to take the trend to new heights with the kicking off its $4 billion Green Communities initiative, which is designed to propel the greening of affordable housing development across the country. Enterprise, a development capital and solutions provider for affordable housing, leverages low-income housing, new markets and historic rehabilitation tax credits, as well as short and long-term debt to finance development and retrofitting projects. The…
Renters Are Willing to Pay More Rent for Additional Security Amenities
Renters seek a safe haven when searching for an apartment. According to a national Apartments.com survey—conducted during national crime prevention month—96 percent of respondents said neighborhood crime rate influences where they choose to live.
CPC Closes $2.16M Permanent Loan to Refinance 3-Story Rental Building
New York–The Community Preservation Corporation (CPC) recently closed on a $2.16 million permanent loan to refinance a newly constructed three-story rental building in the Parkville section of Brooklyn.
The property, located at 315 Foster Ave. between Seton Place and East 5th St., features nine, 1,005-square-foot two-bedroom units each with two bathrooms, separate dining areas, radiant heat and modern kitchens with granite countertops, hardwood floors and stainless steel appliances. Market rents are affordable to families at 110 percent of Area Median Income.