The 234 Apartment

By Mike Smollins Village of Lynbrook officials are mulling a proposal by development company Mill Creek Residential to build a luxury apartment complex on Rocklyn Avenue, near Merrick Road. Hot Skates, Fun Station USA and Hi Tech Security now occupy the three-acre site. “Today’s apartment residents are craving a downtown living experience along with convenient access to a mix of urban and suburban lifestyle experiences ,” Russell Tepper, a senior managing director at MCR, wrote in an email to the Herald. “Lynbrook’s new residential community would serve all types of residents … so that they may take advantage of the luxuries of suburban living , without sacrificing the trappings of an urban, modern lifestyle.” MCR acquires and operates high- end rental communities across the country, and has built complexes in West Hempstead, Mineola, Yonkers, Westchester County and New Jersey. Tepper said that the company would create a transit- oriented residential community — a walkable nei...

Apartment hunters may soon have another option when shopping for an affordable place to rent in Round Rock. The Round Rock City Council passed a resolution of non-objection last week allowing Pedcor , the developer of the Shadow Ridge Apartments , to move forward with efforts to receive state tax incentives to help develop the complex. Shadow Ridge Apartments " width="460" height="418" />Applicants must make 60 percent of the area’s median income, which is approximately $78,000, according to city of Round Rock Planning Director Brad Wiseman , in order to qualify for one of the 256 units planned for the development.  It will be located on the northwest corner of A.W. Grimes and Old Settlers Boulevard and will be one of only a handful of income- restricted apartment complexes in the city. “There is a huge need in this entire region and all across Texas,” said Craig Lintner, senior vice president of Pedcor, to the council during the meeting. Wiseman said th...

CHEYENNE ­– A proposed apartment complex that would offer low- and middle- income housing in north Cheyenne won a key stamp of approval Monday night when the City Council voted to rezone land for high-density development. Councilman Dicky Shanor was absent for the 9-0 decision. Developer Summit Housing Group plans to build a three-building, 72-unit complex for low- and middle- income residents east of Converse Avenue between Storey and Dell Range boulevards . Sam Lang, a Summit senior project manager , said his firm is aiming to break ground on the project by early next year pending city approval of building plans . Despite indications that the council would support the move, nearby homeowners who oppose the project again came out to protest the developer’s plans and city processes . Krystal Lewis, who lives on Plainview Road just east of where the apartments would sit, said the complex was stretching the city’s zoning rules and development code. The complex didn’t call for e...

A Northfield-based company has broken ground on a project that will bring 315 high-end apartments to a stalled mixed-use development near Oakbrook Terrace. Interforum Holdings will start construction of its Lakeside Village of Oak Brook luxury apartments as soon as the weather permits. The 500,000-square-foot, four-story building will be on roughly 6 acres along Royce Boulevard . "We went into the area to develop a project because we see a serious lack of luxury, Class A rental communities in the area," said Alex Zdanov, CEO of Interforum Holdings. "A current trend right now is for people to rent." Zdanov said Lakeside Village will provide a rental option for executives and other professionals working in Oak Brook, Oakbrook Terrace and other nearby communities. The apartment building will be in the Oak Brook Lakes development , which has 82 undeveloped acres off Butterfield Road, just east of where it splits from 22nd Street. Offic...

616 Lofts at 820 Monroe Ave. NW in Grand Rapids. (Photo: Facebook.com/616Lofts) GRAND RAPIDS, MICH. - Despite a relative lull in multifamily residential housing construction at the beginning of 2017, indications point to another surge. Currently in the city of Grand Rapids, there are 19 projects under construction and more than 2,000 apartment units, most of which fall into the market-rate category. Meanwhile, there are 15 proposed or approved projects in the city with nearly 15,000 units, many of which qualify as affordable housing developments . Several projects seemed to stall earlier this year, and at least one project, the Warner Building, switched from a residential component to hotel prior to its groundbreaking in June. A major signal residential might still have forward momentum is the groundbreaking of 601 Bond by the New York- based development group Time Equities Inc. The 16-story, 140-unit mixed-use building in the North Monroe neighborhood had gone dark for months be...

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...