West
New Bill Addresses California Affordable Housing Crisis
With government funding reaching new nadirs and the housing market yet to sort itself out, both renters and would-be homeowners face hurdles finding affordable housing. The problem is likely even worse in California than it is nationally.
North Hollywood Apartments Sell for $74M
UBS Inc. has purchased NoHo-14, a 180-unit apartment complex in the North Hollywood Arts District of Los Angeles’ San Fernando Valley.
Ground Broken for Downtown Phoenix Student Housing
EdR and Concord Eastridge have inked a deal to develop a $52 million student housing property adjacent to the Phoenix Biomedical Campus, which includes the University of Arizona School of Medicine and the College of Pharmacy.
Vulcan Begins Stack House Project in Seattle
Vulcan Real Estate has broken ground on yet another Seattle property, the Stack House, a mixed-use apartment and office development located in the Cascade neighborhood of the city’s South Lake Union district.
LA Affordable Housing Development Opens on School District Land
Rio Vista Apartments, the first joint-use development in Los Angeles County that combines affordable housing and an Early Education Center on school district surplus land, has opened.
Honolulu to Market City-Owned Affordable Housing
The City and County of Honolulu has selected CBRE Group to market its entire portfolio of affordable rental housing communities, with the intention of transitioning ownership of the housing to private ownership.
Archstone Buys Washington State, California Properties
Archstone has acquired a 131-unit apartment complex in Kirkland, Wash. It sold for about $47.5 million and will be renamed Archstone Kirkland at Carillon Point.
Decron Properties Spends $56M on Santa Clara Multifamily
By Gail Kalinoski, Contributing Editor Santa Clarita, Calif.—Continuing its recent focus on the multifamily market, Decron Properties has acquired The Madison at Town Center, a Class A, 264-apartment community in Santa Clarita, Calif., for $56.5 million. Decron, a Los-Angeles based real estate investment company, has now purchased 1,500 units in the past 18 months. The Madison was built in 2004 as a luxury, 341-unit apartment complex. A year later, it was converted to condominiums when Prado Town Center West LLC bought the property. Between 2006 and 2007, Prado sold 77 condo units. The remaining units have been used as rentals….
Name Change a Success for Luxury Apartments
Real estate firm Alliance Residential has rebranded its luxury building Alta Hollywood as rubix hollywood to invoke the feel of a high-energy, urban lifestyle.
San Luis Obispo Welcomes Green Affordable Housing at The Village at Broad Street
The town of San Luis Obispo recently celebrated the grand opening of a new affordable housing complex known as The Village at Broad Street Family Apartments.