Regions

By Erika Schnitzer, Associate EditorAtlanta—The Mansion on Peachtree Hotel and Residences, a 42-story condo/hotel tower, has received GreenGuard Building Construction Certification, the first multifamily project in the state to achieve this award. The Certification is based on the requirements of the pending ANSI (American National Standards Institute) standard for newly constructed buildings to prevent mold and moisture.“It’s a voluntary program—a commitment made by the general contractor and owner to focus on quality and construction,” Taylor Gonsoulin, PE, CIAQP, LEED AP, general manager of Air Quality Sciences, a national building consulting organization and the third-party consultant for The Mansion on Peachtree,…

By Anuradha Kher, Online News EditorRancho Cucamonga, Calif.–HFF (Holliday Fenoglio Fowler L.P.) recently secured a $22.1 million refinancing with Freddie Mac for Fairway Palms Apartments (pictured), a 236-unit multifamily community in Rancho Cucamonga, Calif.Working on behalf of institutional investors advised by J. P. Morgan Asset Management – Global Real Assets, HFF senior managing director Whit Wilcox placed the seven-year, adjustable-rate loan with the Federal Home Loan Mortgage Corp. (Freddie Mac). Loan proceeds are paying off a maturing loan that the borrower had with a portfolio lender. HFF has closed more than $100 million in financing through Freddie Mac in 2009.Fairway…

By Anuradha Kher, Online News EditorColumbia, Md.–Enterprise Community Partners Inc. has appointed Alazne (Ali) Solis (pictured) as its new senior vice president. Solis was also recently named policy and corporate affairs executive, which expanded her focus to include the areas of communications, marketing, online services and resource development in addition to public policy. Solis’ complete title is now senior vice president and policy and corporate affairs executive and she will split her time between the organization’s Columbia, Md., and Washington, D.C., offices.  Solis joined Enterprise in February 2000. In the summer of 2008, she led the Save America’s Neighborhoods Campaign,…

By Anuradha Kher, Online News EditorWashington, D.C.–The apartment industry was buffeted by crosswinds in 2008, according to the National Multi Housing Council’s (NMHC) ranking of the 50 largest apartment owners and the 50 largest apartment managers. This is the 20th year since NMHC started the ranking.”The apartment sector is better positioned than most to produce a robust recovery, however,” says NMHC President Doug Bibby. “It is not overbuilt, like the single-family sector, and demographic trends, changing lifestyles and our desire to grow more sustainably all point to strong long-term demand for apartments.”  “All in all, there were fewer changes in…

By Erika Schnitzer, Associate Editor Salt Lake City—San Francisco-based architecture firm Group 41 is breaking new ground with a shipping container design for multifamily development. The proposal is for a 200-unit, market-rate transit-oriented community in Salt Lake City.“For years, we put out a formal offer of discounted design services for anyone who was serious about wanting me to design a single-family home [from shipping containers]. I talked to hundreds of people, but not a single one turned into a real project,” says Joel Karr, founder and principal, Group 41. “People are intrigued by the idea but are resistant to trying…

By Anuradha Kher, Online News EditorNew York–The average Manhattan apartment price (including condos, co-ops and cond-ops) of $1,502,339 was up slightly from last quarter, but down 11 percent from the previous year, according to the first quarter market report released today by Brown Harris Stevens. The total number of closings decreased by 58 percent compared to the same period a year ago.“This reflects what most people thought would happen, and it’s not a big surprise,” Greg Heym, chief economist for Terra Holdings, which is the parent company of Brown Harris Stevens, tells MHN. “The fourth quarter is always slow and…

By Anuradha Kher, Online News Reseda, Calif.–Meridian Capital Group has arranged permanent financing for Los Angeles-based Capital Foresight LP in the amount of $6.3 million for Terra Vista Apartments (pictured), a 66-unit multifamily building located on Saticoy Street in Reseda, Calif. Meridian successfully negotiated the non-recourse, 5.64 percent fixed interest rate for 10-years.  Love Funding Secures Over $4M Refi Loan for 172-Unit Rental CommunityLake Charles, La.–Mortgage-banking firm Love Funding recently secured a $4,531,900 refinance loan for Whispering Pines Apartments, a 172-unit rental community located in Lake Charles, La. Terms included a 6.25 percent interest rate and a 40-year amortization.  Love…

R. Scott Ziegler (pictured), AIA, is one of the founding principals of Ziegler Cooper Architects. Ziegler is involved in all phases of work on every project. With a strong belief in modern architecture Ziegler endeavors to explore a building’s limits. Ziegler’s management experience encompasses high-rise condominiums, high- and low-rise office buildings, retail facilities, educational institutions and corporate interiors. Ziegler talks to MHN Online News editor Anuradha Kher about the Austonian, which is set to be the tallest building West of the Mississipp,i and about urban development. MHN: What is special about the Austonian?Ziegler: Upon completion in 2010, The Austonian will…

By Anuradha Kher, Online News EditorWashington, D.C.–Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors (NAR).The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3. “There is a slight trend showing that people are beginning to realize that houses are a good buy right now,” Jed Smith, managing director of quantitative research at NAR, tells MHN. “The pending…

By Erika Schnitzer, Associate EditorReston, Va.—JBG Companies, a real estate investor, owner and developer in the Washington, D.C. metropolitan area, has achieved LEED-ND (Leadership in Energy and Environmental Design for Neighborhood Development) Silver certification for its Reston Heights, a 35-acre, mixed-use, transit-oriented development and the first in Virginia to achieve this designation.“The focus of the project is that it is a transit-oriented development, which we regard to be a model of Smart Growth,” notes John Schlichting, executive development officer, JBG Cos. Two new metro stations are being built in close proximity to the community, and the first station has recently…