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, 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...

NEW YORK – Aug. 22, 2017 – With all the talk about aging baby boomers and life- extending health care advances , it might be a bit bewildering deciding which seniors housing assets are best primed for success. Lee Everett, managing consultant at research firm CoStar Portfolio Strategy , might be able to provide some clarity. Two product types – active adult communities and continuing care retirement communities (CCRCs – will be the winners in the seniors housing race both in the short and the long term, Everett says. Everett and his CoStar colleagues are bullish about active adult communities , which are age-restricted developments that offer an independent lifestyle and relatively maintenance-free housing. Growth in this segment is "just around the corner," with more baby boomers getting older and seeking alternatives to traditional homes and apartments. "We're looking at a period where there's going to be a lot of fast and explosive growth in active a...

Public restrooms in an East Village park have been mostly locked for months, even while a hepatitis A outbreak fueled in part by lacking hygiene has plagued homeless San Diegans . Pinnacle International developed two high- rises bordering Fault Line Park , agreeing years ago to build and maintain the park and restrooms in exchange for perks including the right to build more apartments in the towers and a garage underneath the park. The restrooms have been a problem since they opened, as inewsource reported last year. Homeless people have settled at the edge of the park, and city officials , Pinnacle staff and owners of the restaurant that houses the bathrooms have described near- constant safety hazards , including a stabbing that some restaurant workers witnessed . “They basically got used all the time for drug use and prostitution and crime,” said John Long, whose restaurant Stella Public House oversees the restrooms for the developer. Long, the city and the developer...