Northeast
First Smoke-Free Rental Community in N.J.; Good for Health As Well As Turnover Costs
The second phase of Alexan CityView, a Trammell Crow Residential apartment community on the Peninsula at Bayonne Harbor, N.J. is designed to be 100 percent smoke-free. It is the first of its kind in New Jersey and nearly unheard of in the New York Metropolitan marketplace.
New LEED Credential Expands to Canada
The Green Building Certification Institute, which provides third-party confirmation of LEED building certification and LEED professional credentialing, has launched the LEED Green Associate (Tier I) credential in Canada. According to the Green Building Certification Institute, the new credential–launched only in 2009–is its fastest growing, having been earned by about 4,500 people worldwide already.
U.S. Energy Group Joins Residents, Management of Brooklyn Community in Fundraising Effort for Haiti
The U.S. Energy Group, TedPin Realty and Metropolitan Property Services, Inc., have all come together for a fundraising effort that will support Habitat for Humanity International’s work in Haiti.
HUD Funds Greening of Harlem Apartment Community
The U.S. Department of Housing and Urban Development has awarded the West 135th Street Apartments, a 10-building complex in the Harlem neighborhood of New York City, a $3.6 million Green Retrofit Program (GRP) loan, the first of its kind to a multifamily residential property. The GRP loan will provide part of the funding necessary to make major renovations to the property, with an aim toward increasing its energy efficiency, reducing utility costs and otherwise greening the residences.
42-Story Crystal Point Wins Community of the Year Award
Most high-rise developments often have one thing in common: long, uninspiring hallways. But a new 42-story condominium project, Crystal Point, tries to change things up a little. The building is planned in such a way that its corridors are cut in half with elevators positioned in the middle of the residential floors. This provides the building with a very intimate feel, which is what the architects intended.
Harkins Begins Construction on Six State-Funded Projects Within 45 Days
Harkins recently completed loan closings on six projects and has begun construction on all in a matter of 45 days. These projects, located in Pennsylvania and Maryland, are funded by a variety of programs, including the Low Income Housing Tax Credit (LIHTC), and the Tax Credit Assistance Program (TCAP) and Section 1602 Exchange funds that are part of the American Recovery and Reinvestment Act (ARRA) of 2009.
Michaels Organization Taps Sweeney for Michaels Military Housing
The Michaels Organization has named Bill Sweeney as director of facilities management for Prestige Renovations, one of the six companies that comprise Michaels. In his new job, Sweeney will oversee facilities management and renovations at the five military installations where Michaels Military Housing is currently developing and managing family housing under the Department of Defense’s housing privatization program.
Bankruptcy Was Not an Option for Largest Failure in CMBS History
In a remarkable move, Tishman Speyer Properties and BlackRock Realty, last week turned the 80-acre properties Stuyvesant Town and Peter Cooper Village back to its lenders. With investors in the project having defaulted and the properties now being valued at less that $2 billion, this seemed like the only option. Just three years ago, the two companies bought the 11,000-unit developments for close to $6 billion.
Shared Experience Is What It’s All About At Our Communities
Tom Sloan was recently appointed as vice president of Camden Property Trust’s eastern division. Sloan previously served as regional vice president in the company’s Washington, DC regional office. Sloan talks to MHN about the state of Camden’s eastern division portfolio, his projections for 2010 and the hot amenities for the year.
NorthStar Announces $95M Sale of Assisted Living P/F
NorthStar Realty Finance Corp. sold 18 assisted living facilities, containing approximately 1,300 beds, located in North Carolina to a private investor group for $95 million.