The 234 Apartment

The value of new construction starts in July advanced 6% from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics. Leading the way was a 26% jump by the nonbuilding construction sector , which reflected an improved level for public works and the start of two massive power plants , located respectively in California and New York. Residential building in July increased 8 %, as multifamily housing rebounded after three consecutive monthly declines .  Running counter was a 7% slide for nonresidential building following its 14% hike in June, as both office buildings and hotels retreated from June’s elevated activity , outweighing a sharp rise for healthcare facilities in July.  During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago.  Dampening the year-to-date performance for total construction was a steep 44% decline for t...

The value of new construction starts in July advanced 6 % from the previous month to a seasonally adjusted annual rate of $728.1 billion, according to the most recent report from Dodge Data & Analytics.   Leading the way was a 26% jump by the nonbuilding construction sector , which reflected an improved level for public works and the start of two massive power plants in California and New York.   Residential building in July increased 8 %, as multifamily housing rebounded after three consecutive monthly declines . Running counter was a 7% slide for nonresidential building , following its 14% hike in June, as both office buildings and hotels retreated from June’s elevated activity , outweighing a sharp rise for health care facilities in July.   During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago. Dampening the year-to-date performance for total construction was a steep 44% declin...

Summit Ridge luxury apartment development on River Road in Allentown" alt="Construction has resumed at the Summit Ridge luxury apartment development on River Road in Allentown" /> Construction has resumed at the Summit Ridge luxury apartment development … (MICHAEL KUBEL, THE MORNING…) April 30, 2013 | By Peter Hall, Of The Morning Call Nearly three years after construction stalled at the Summit Ridge Apartments on Allentown's east side, a New Jersey real estate firm has picked up where the project's bankrupt developer left off. After foreclosing on the property and winning an $8.3 million verdict in Lehigh County Court , Diversified Realty Associates of Summit, N.J., aims to complete the luxury apartment buildings by the end of the year. The project's hiatus, which left some residents living amid an abandoned construction site , was the result of former developer David Connolly 's financial meltdown that led federal prosecutors to charge him l...

Multifamily sales totaled $147 million in the Buffalo area market in 2016, up from $127 in 2015 and again above the $ 100 million dollar level achieved each of the last five years.  The investment market is most active in suburban garden apartment complexes . Private locally based principals were active as both buyers and sellers with prices at all-time high per unit valuations . These older apartment properties comprise the majority of the existing inventory and are often fully occupied with rising rents. From a tenant perspective they are often the best housing available at a given price. Located in dense residential neighborhoods , they are near employment, shopping, entertainment and within desirable suburban school districts . It would be impossible to duplicate them today in the same locations with the same rent structure and consequently they have little competition in their price range. This drives the rent growth that attracts investors. In April of 2017, RENTCafe’s surve...

While all those clothes, shoes and bags you bought over the years have likely limited your chances of becoming a homeowner, it has certainly helped many in the fashion industry to continue climbing up the property ladder , snapping up impressive mansions in some of the wealthiest parts of the U.S. Here, WWD takes a look at fashion moguls ’ most expensive homes currently on the market across the country. MAX AZRIA’S L.A. MEGA-MANSION — $88M Fashion veteran Max Azria and his wife Lubov Azria are selling their Holmby Hills mansion known as Maison Du Soleil for $88 million, making it the sixth most expensive home for sale in Los Angeles. (The highest has a $ 350 million price tag .) At the same time, the Tunisian fashion designer ’s 60-room mansion, which dates back to the Thirties, is also on the market as a rental for a whopping $400,000 a month. Set on three acres, the 30,000-square-foot compound comes with 17 bedrooms, 22 bathrooms, a bathhouse and a 6,000-square- foot mov...

$4 Million Project Includes 40 Senior Living Apartments The Heritage Place senior living apartment complex took another step closer to becoming a reality as the building permit was issued on Monday, Aug. 15. The complex will be constructed next to Orscheln’s, beside and behind the Dos Primos restaurant location . It will feature affordable housing for senior citizens who are 55 and older. The project was proposed more than a year ago to the Board of Aldermen by Woodco, Inc., out of Billings, Mo. The company secured federal and state tax incentives to take on the project which has made the process take longer. The project will be developed by DowCon, LLC, out of Kansas City. Doff Woodman, of Woodco, addressed the board about the development and noted it will be a top-notch facility. In addition to the apartment units there will also be a community building constructed with space for an exercise room, common areas, kitchen and porches for residents to gather. Those interested in b...

Firm buys apartment complexes in Marina del Rey and Venice for $100 million. financial partner UBS Global Asset Management bought the 475,000-square-foot Riverside Plaza from Westminster Funds for about $85 million." alt="Vestar and financial partner UBS Global Asset Management bought the 475,000-square-foot Riverside Plaza from Westminster Funds for about $85 million." /> Vestar and financial partner UBS Global Asset Management bought the 475,000-square-foot… (Vestar ) Colorado apartment landlord Archstone broadened its Southern California empire this month by spending more than $100 million on seaside properties in Venice and Marina del Rey . Archstone, which operates upscale apartments in coastal markets, bought the Frank, a 70-unit complex on Rose Avenue in Venice, for $56.2 million. It also purchased the Bay Club, which has 205 units -- and 207 boat slips -- on Tahiti Way in Marina del Rey for $43.95 million. The Frank, which was renamed Archstone Venice ...

Alliance Residential, Dev Motwani nab $47M loan for mixed-use project in Pompano Alliance bought into the 4- acre waterfront site for $16M By Katherine Kallergis | August 11, 2017 01:45PM Broadstone Oceanside (Credit: MSA Architects) and Dev Motwani A joint venture between Alliance Residential and developer Dev Motwani broke ground on a major mixed-use project in Pompano Beach with a $46. 7 million construction loan , property records show . Earlier this week, Alliance Residential bought into the 4- acre waterfront site at 1333 South Ocean Boulevard for $15.83 million. Santander Bank provided the construction financing to the new owner, CRP/AR Oceanside Owner. The developers are building Broadstone Oceanside , an eight-story, Class A building with 211 apartments, nearly 2,800 square feet of ground floor retail space and a 432- space parking garage , according to a notice of commencement. Last year, the city approved the project, which includes seven two-story townhouses, a cl...

Earlier this month, Skift published a comprehensive look at Airbnb’s Road to an IPO, or initial public offering on the stock market. While the story primarily focused on all of the many things the company is doing (and needs to do) as it pursues that inevitable IPO, it wasn’t necessarily a story about what it takes for a company like Airbnb to go public. Indeed, what Airbnb is doing right now in its efforts to become a “super brand of travel,” or a new breed of online travel agency (OTA), speaks to the very future of travel. Already, we’ve seen the company expand into tours and activities with the November launch of its Trips business, adding to its already robust 4-million-listing- strong Homes business . CEO Brian Chesky has also hinted the company may soon enter the flights sector as well. It’s a glimpse of what we as travelers can expect to see and to experience in the next few years as platforms like Airbnb continue to evolve and to attempt to solve the many pain points we st...