Regions

By Anuradha Kher, Online News EditorFlanders, N.J.–Mt. Olive Manor’s Phase II, a 50-unit federally subsidized affordable housing project in Flanders, N.J., opened recently. It is located adjacent to the 60-unit first phase of the project.Del-Sano served as the general contractor for the $8.9 million project, which was funded largely through the Section 202 HUD program. Mt. Olive Manor II is professionally managed by Lutheran Social Ministries of New Jersey.“Since the project is adjacent to Mt. Olive Manor I and they share several common areas, it was important to create a smooth transition during construction and minimize disruption to current residents…

W. Dean Henry (pictured) is president of Legacy Partners Residential Inc., where he oversees the multifamily portfolio spanning across Northern and Southern California, Arizona, Colorado, Washington and Texas. During his career, Henry has been responsible for the development of more than 50,000 multifamily units.He joined Legacy Partners in 1973 after graduating from the University of Puget Sound in 1969 with a bachelor’s degree in Political Science. During his college years, he entered the multifamily housing industry working with United Homes in Seattle and later with the L.B. Nelson Corp. developing apartment communities. Legacy completed its 40th anniversary last month. Henry…

By Erika Schnitzer, Associate EditorObzor, BULGARIA–The second phase of yooBulgaria, a 350-unit luxury condominium located along the beach on the Black Sea Coast in Obzor, Bulgaria, will launch this month. The first phase of the development, which consists of 257 units, is now 85 percent sold and will be complete before the end of the year.The project team for yooBulgaria is comprised of London-based yoo, Unique Developments, a London-based property investment specialist, and Canadian-based Diamone + Schmitt Architects.The property offers studios, one-, two- and three-bedroom units. Phase two will include two-story penthouses. Units will range in price from $277,943 to…

By Anuradha Kher, Online News EditorRockford, Springfield, Ill.–Sperry Van Ness recently arranged the sale of two apartment communities in Illinois totaling $10.5 million.An out of state investor, in conjunction with two Illinois limited liability companies, recently purchased the Briargate Apartments in Rockford, Ill. for $8.3 million. The property was built in 1991 and consists of 144 two-bedroom apartments, all of which include washer/dryer and dishwasher units as well as private garage parking.A local downstate investor purchased the St. Nicholas Apartments in Springfield, Ill., for $2.5 million. The property was once a hotel where guests including former presidents Harry Truman, Dwight…

By Erika Schnitzer, Associate EditorMiami–LAB Developers has received approval from the City Commission for their two-tower condominium complex, Kubik (pictured), as long as the firm reduces the project’s height. For over four years, the firm has been involved in a lawsuit against some neighbors who have taken issue with the height of the tower.On June 26, LAB Developers went before the Miami City Commission for the third time to get the project approved. No additional testimony was heard at the meeting. Of the five neighbors who have filed the suit against LAB Developers, only one of them lives across the…

By Rachel Block, ReporterPhiladelphia–The Residences at Dockside, a pet-friendly community located in Philadelphia, has joined the Philadelphia Animal Welfare Society (PAWS) for an event, in an effort to assist in helping homeless and abandoned animals find placement in decent homes.”The Residences at Dockside has been a pet-friendly community from thebeginning,” says Victoria Teschner, director of marketing and sales for the project. “We decided we wanted to do something meaningful, but fun, which is why we chose the doggie fashion show. We were able to raise awareness, raise funds to help support PAWS in its efforts, and even help a few…

By Anuradha Kher, Online News EditorPalos Park, Ill.–The Catholic Charities Housing Development Corp. recently broke ground on St. Francis of Assisi Residence at the Holy Family Villa Campus in Palos Park, a suburb of Chicago. Designed by Harley Ellis Devereaux, the St. Francis of Assisi Residence will feature 81 independent living apartments.The project features one-bedroom senior-friendly layouts and features. Residents-shared amenities include a large multipurpose room, flexible activity spaces for fitness and wellness programs and a library.The primary design goals for the Harley Ellis Devereaux design team were two-fold. It was important to maintain the open prairie character of the…

By Anuradha Kher, Online News EditorIrvine, Calif.–Chicago-based Laramar Group has opened an office in Irvine, Calif. The office will be dedicated to pursuing value-add multifamily assets throughout the state, with an emphasis on the Bay Area and southern California, as part of the company’s strategy to acquire and manage such investments nationwide. Laramar’s first acquisition out of the new office is Archstone San Jose (pictured), which the company purchased for approximately $190 million. Located at 355 Kiely Blvd. in San Jose, Calif., the 948-unit, garden-style apartment complex will be renamed “The Park Kiely.”The Park Kiely was purchased on behalf of…

By Anuradha Kher, Online News EditorIll., Ind., Iowa, Neb.–Care Investment Trust Inc. recently acquired a portfolio of 12 senior housing facilities from affiliates of Eby Realty Group LLC for $100.8 million. An affiliate of Bickford Senior Living Group LLC master leased the facilities from Care YBE for 15 years with four 10-year renewal options. Each facility has been subleased to the original seller/operator of the facility.The portfolio, developed and managed by Bickford, contains 569 units and is located in Illinois (five facilities), Indiana (one facility), Iowa (five facilities) and Nebraska (one facility). The properties were all constructed in the last…

By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development (HUD) has  appointed Sheila M. Greenwood (pictured) as the new assistant secretary for congressional and intergovernmental relations and Susan Peppler as HUD’s new assistant secretary for the department’s office of community planning and development.”As congressional and intergovernmental relations increasingly become the focus of our nation’s housing recovery, there is no better person than Sheila to serve as our principle liaison to Capitol Hill and our local communities,” says HUD Secretary Steve Preston. “Sheila also has a keen appreciation for the needs of Gulf States as they…