The 234 Apartment

WASHINGTON — Homebuilders pulled back sharply on construction of apartment complexes in July, causing housing starts to tumble to a three-month low. The Commerce Department said Wednesday that housing starts fell 4 .8 percent in July to a seasonally adjusted annual rate of 1.16 million. Groundbreakings for multi- family buildings such as apartments slumped 17.1 percent, while single- family house construction slipped 0 .5 percent. Home construction has increased 2.4 percent year-to-date, but the gains have done little to offset the dwindling number of homes listed for sale. The shortage of properties for sale has pushed prices up at a faster pace than income growth, making home ownership less affordable for many would-be buyers. Stephen Stanley, chief economist at Amherst Pierpont Securities , said that because of the lack of homes on the market "builders are attempting to meet that need but are hamstrung to a degree by shortages of skilled workers" and land restrictions...

City Council has approved zoning changes clearing the way for as many as four three- storey apartment buildings and up to 51 multiple attached dwellings on a long, narrow lot at 3876 Queen Street East . The apartment buildings on the northern part of the lot near White Pines Collegiate and Vocational School would contain 60 dwelling units . The multiple attached dwellings would be on the southern portion of the property near Queen Street and Pinewood Public School . The new subdivision will have 51 metres frontage along Queen and extends back 514 metres . The northern part of the property has been flagged as having significant archeological potential and developer Paul Guindon (1890713 Ontario Inc.) will be required to conduct additional archeological assessment work before any soil disturbance or development is allowed. "The applicant is seeking some flexibility in determining the overall dwelling unit mix within this...

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...

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...