The 234 Apartment

BERKELEY, CA - Archstone, a leader in apartment investment and operations, today announced the start of construction on its first apartment community in Berkeley, Calif. The 94- unit apartment community , Archstone Berkeley on Addison, will be located at the corner of Third and Addison, just blocks from the Berkeley Marina and the San Francisco Bay . The apartment community ’s location offers easy access to a vast array of professional jobs, shopping destinations , dining options and public transportation. “Berkeley is an incredible city and an excellent fit for an Archstone apartment community . It is a highly desirable place to live, has limited land on which to build new housing and has a strong, diversified economy,” said Amir Massih, Archstone’s group vice president of development for the San Francisco Bay Area . “We’re excited about starting this project and look forward to providing an outstanding addition to the neighborhood and for our future residents.” ...

Cities are neighborhoods writ large . They ebb up and down, depending on who is moving in and out. They proclaim their attractions, hide their warts, burnish their numbers. After all, real estate values ride on the telling. In the chest-thumping of the Bay Area, San Jose has always sought to distance itself from Oakland. San Jose was bigger, richer, safer. With one horrible event last week, however, a piece of that myth vanished. And we’re left pondering the irony. I’m talking about the killing of off- duty Oakland firefighter Jake P. Walter, 30, who was shot to death last Thursday night outside a night market on the edge of San Jose’s Japantown. Police called it a random and unprovoked attack. In San Jose, we suppose things unfold very differently.  A random attack like this might occur elsewhere in the Bay Area, but not in a vibrant San Jose neighborhood filled with upscale apartments. And it would never take a firefighter, one of the good guys. Under former Mayor Ron Gonzales , ...

Along Florida's Turnpike in South Miami -Dade, where potato farms and fields of row crops stretched all the way to the visible horizon at the time when Hurricane Andrew struck , it’s virtually all rows of close-packed houses and townhomes today. Now the unavoidable noise walls are going up to forever block vistas once among the most beguiling in South Florida. Along South Dixie Highway , where scraggly lots, small farm fields and vegetable- and fruit-packing houses once mixed it up with used-car lots and budget motels, the landscape is a cornucopia of strip malls, Publix and Wal-Mart stores and fast- food chain restaurants . And everywhere there is traffic, backed up one way in the morning, when three-quarters of all employed adults in South Miami - Dade head north to downtown Miami , Coral Gables or even Doral to work, and the other way when they drive back home in the evening. Lightning struck as thunderstorms swept through the ruins of Homestead in the days after Hurricane...

One district dominated San Francisco ’s luxury market when it came to both apartment and single- family home sales over the past year, according to a report out Monday from Paragon Real Estate Group . It’s an L-shaped stretch of four neighborhoods on the northern edge of the peninsula, including Pacific Heights , Presidio Heights , Cow Hollow and Marina. The tony area rises up on a ridge that overlooks the landmark Golden Gate Bridge and Alcatraz Island and is home to celebrities and historic mansions . More:  Check Out News from San Francisco ’s Luxury Market This area had the most single- family house sales over $3 million in the 12 months ending July 31 —a total of 77 deals at an average price per square foot of nearly $1,500, according to the report. It also dominated the city’s ultra- luxury transactions with nine sales for mansions priced over $10 million. The Pacific Heights- Presidio Heights district also led in the luxury apartment market . Over the past 12 months, there...

SINGAPORE: More than 100,000 new jobs will be created and 20,000 homes built in the 360- hectare Jurong Lake District , the Urban Redevelopment Authority (URA) said on Friday (Aug 25). The Jurong Lake District project - set to be completed after 2040 - was first announced in 2008 as part of URA's efforts to provide more job and recreational options in the heartlands. The Government has said it plans to transform the area into Singapore's second central business district . The new jobs will be created in sectors such as the maritime industry, with the future Tuas mega port ; infrastructure development, due to the neighbouring Jurong Industrial Estate ; and in the technology sector with the Nanyang Technological University and the planned Jurong Innovation District nearby , URA said. New residential developments will also be built in this western corridor, which will be a mixed-use business district . However, the exact mix of private and public development has not yet been d...

Jorge M. Perez and his Related Group are bullish on Tampa Bay. How bullish? Some $350 million worth. That's how much the Miami-based company has invested so far in the area, particularly in the city of Tampa. "We love cities, and this is a can-do city," says Perez, who founded Related in 1979 and built it into one of the nation's largest real estate conglomerates . PREVIOUS COVERAGE: Related Group breaks ground on complex at old Tampa Tribune site Perez was in Tampa on Wednesday for the official groundbreaking of Manor Riverwalk, Related's 400- unit luxury apartment project where the Tampa Tribune once stood; and a visit to the site of Town Westshore, where Related plans 396 apartments in the Westshore Marina District near the Gandy Bridge. The company also expects to start construction in September on the 368-unit Icon St. Petersburg in the city's Edge District, and is lead developer on Tampa's $750- million West River redevelopment . In an interv...

Archstone Berkeley on Addison Berkeley, Calif.—Archstone has broken ground on Archstone Berkeley on Addison, the company’s first apartment community in Berkeley, Calif. The 94-unit asset will be located at the corner of Third and Addison, blocks from the Berkeley Marina and the San Francisco Bay . “Berkeley is an incredible city and an excellent fit for an Archstone apartment community ,” says Amir Massih, vice president of development at Archstone. “We’re excited about starting this project and look forward to providing an outstanding addition to the neighborhood and for our future residents.” The property’s amenity package will include a roof deck with a view of the Golden Gate Bridge , an open- air fitness center , and a pet salon. “This is the first Archstone development start in the Bay Area since completing the second phase of Archstone San Bruno in 2007,” adds Rick Lamprech , Archstone’s executive vice president of development for the West Region. “We’re pleased to be bac...

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 ...

Another big development in St. Johns County is getting rolling. The three builders in Bannon Lakes have already been building in individual neighborhoods. But now the amenity center and entrance are complete, and it’s ready for a grand opening. Bannon Lakes is big at 580 acres and has plans for up to 849 single-family homes, 150 townhomes, 15,000 square feet of office and 105,000 square feet of commercial/retail. The three neighborhoods: Southshore at Bannon Lakes, KB Home, $220,000-$260,000. Bridge Bay at Bannon Lakes, Pulte Homes, $240,000-$300,000. It’s a gated, 55+ community. The Grove at Bannon Lakes, AV Homes, $285,000-$350,000. The grand opening is from 1 to 4 p.m. Sept. 16 and will feature food trucks and live music. Bannon Lakes is at the northeast corner of the Interstate 95 and International Golf Parkway interchange . That’s across the street from Markland, a 345-lot community and just west of Twelve Mile Swamp Conservation Area , which has no homesites for sale. Bannon Lak...

AvalonBay Communities, Inc. (NYSE:AVB) Q2 2017 Earnings Call August 03, 2017 1:00 pm ET Executives Jason Reilley - AvalonBay Communities, Inc. Timothy J. Naughton - AvalonBay Communities, Inc. Sean J. Breslin - AvalonBay Communities, Inc. Matthew H. Birenbaum - AvalonBay Communities, Inc. Kevin P. O'Shea - AvalonBay Communities, Inc. Analysts Nicholas Joseph - Citigroup Global Markets , Inc. Nick Yulico - UBS Securities LLC Richard Allen Hightower - Evercore ISI Juan Sanabria - Bank of America Merrill Lynch Andrew T. Babin - Robert W. Baird & Co., Inc. Austin Wurschmidt - KeyBanc Capital Markets , Inc. Dennis Patrick McGill - Zelman & Associates Wes Golladay - RBC Capital Markets LLC Alexander Goldfarb - Sandler O'Neill & Partners LP Vincent Chao - Deutsche Bank Conor Wagner - Green Street Advisors , LLC Richard Hill - Morgan Stanley & Co. LLC Robert Stevenson - Janney Montgomery Scott LLC Operator Good morning, ladies and gentlemen, and welcome to AvalonBay...