Regions

By Anuradha Kher, Online News EditorLebanon, N.J.–In an effort to enhance the company’s sustainable building practices, Kullman has recently became a member of the U.S. Green Building Council (USGBC).“Offsite construction and the green movement are natural partners,” says Avi Telyas, CEO of Kullman, a Lebanon, N.J.-based offsite builder of permanent steel and concrete multi-story buildings. “Together they offer an efficient path to Leadership in Energy and Environmental Design (LEED) certification without compromising on design. Given this, we believe it’s our responsibility to be stewards in the green movement by educating the industry on the benefits of offsite construction and promoting…

By Erika Schnitzer, Associate EditorMiami–Wellington Construction Group Inc. has commissioned Coral Gables, Fla.-based BCArchitects to design a new workforce housing rental community in Miami’s midtown neighborhood.“Considering the type of project and what it’s geared toward, the plans are very efficient,” Adan Fons, a principal for BCArchitects tells MHN. “In conjunction with the owner, who’s also a contractor, all the details have been looked at to simplify construction, make it efficient and create a nice design that’s reasonably priced.”Construction for Midtown Gardens, an 18-unit, three-story development, is expected to begin late this year. The property will offer one- and two-bedroom units,…

Kurt Kehoe To Head Altman Development Corp.’s Central Florida Office Boca Raton, Fla.–Altman Development Corp., based in Boca Raton, Fla. has appointed Kurt Kehoe as head of the company’s central Florida office in Orlando. In his new role, Kehoe will be responsible for creating and managing a business plan to increase Altman’s market presence in the central and northern Florida regions as well as Texas. Kehoe joined Altman Development Corp. of central Florida as senior vice president in 2006.Kehoe formerly served as a senior vice president and vice president with Picerne Development Co., where he directed and managed the development of over…

By Anuradha Kher, Online News EditorWashington, D.C.–Despite Fannie Mae and Freddie Mac shares falling and growing concern about possible government takeover, there are people in the multifamily industry who say that the two companies are not doing as badly as has been reported in the media.“Shares of Freddie have fallen and things are bad for them on paper, but in day-to-day life, it has not affected them at all,” Susan Blumberg, senior vice president of NorthMarq’s Chicago office, tells MHN. “We have a very strong working relationship with Freddie. The way we see it, the multifamily aspect of these companies…

By Anuradha Kher, Online News EditorNew York–The Community Preservation Corp. (CPC) recently provided a $1.104 million loan for the full rehabilitation of two attached three-story buildings (pictured) in Harlem, New York. The loan was financed under CPC’s Small Building loan program, which provides borrowers with reduced costs, faster processing, comprehensive technical support and other incentives. The two buildings being renovated are located in central Harlem at 161-163 West 131st St. between Malcolm X and Adam Clayton Powell boulevards. The buildings were purchased in 1964 by the Christ Temple Baptist Church, which combined the first floor and basement of each building in 2005…

By Anuradha Kher, Online News EditorCanton, Mass.–In an effort to sell its condos in a turbulent real estate market, Davenport Investments II LLC, recently launched a contest giving people the opportunity to win a two-bedroom condo at Canton Park Condominiums (pictured) in Canton, Mass. Davenport came up with the idea of the contest as a marketing tool to sell their units in Canton, a primarily residential community located 18 miles south of Boston.The only criterion is a $50 entry fee and a creativity contest, which will require contestants to submit either a video or essay responding to one of several…

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…