The 234 Apartment

NASHVILLE – Officially known as the Low- Income Housing Tax Credit Program administered by the Tennessee Housing Development Agency , an initiative that could have brought up to three housing developments to Sevier County resulted in none of the three proposals being selected for awards of tax credits. Had any of the three proposals been approved, the development would have represented the first time since 2012 that a multifamily housing development in Sevier County received state allocations in the form of tax credits from the agency. Proposals for tax credits were made in February by private developers across Tennessee for either the construction of new units or the rehabilitation of existing units. On Tuesday, THDA released the results of its ranking system for projects proposed across the state. Michael Blade, THDA's director and assistant legal counsel for multifamily development , verified that none of the three projects proposed for Sevier County made the cut. "N...

Copyright © 2013 Albuquerque Journal Construction is expected to begin in early October on the $ 23 million Broadstone Cottonwood , a 254- unit luxury apartment project on the hill between the Intel Corp. plant in Rio Rancho and Albuquerque’s Cottonwood area. A joint venture of Albuquerque’s Titan Development and Phoenix- based Alliance Residential , Broadstone Cottonwood will be built on 13.3 now-vacant acres on the west side of N.M. 528. It will consist of 24 mostly two- and three-story buildings with a total of 325,433 square feet of space, which includes rental garages . Designed in what could be called a California Mission style of architecture, the Cottonwood project will be a variation of another Titan-Alliance collaboration, the 280- unit Broadstone Santa Monica apartments at 6401 Santa Monica NE , east across Interstate 25 from the Journal Center . Advertisement Continue reading The Cottonwood and Santa Monica projects combined create work for about 700 workers in constr...

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...

[Sarah Nader] Some residents said they enjoy the small-town, open-space feel in Cary, and worried that a proposal to bring what some called a high-density, multifamily housing development to the site, 422 W. Krenz Ave., wouldn't fit. More than 40 residents came to the meeting Tuesday, and most of those who spoke during public comment opposed the new concept, citing concerns with the density of the project, parking, traffic and construction. Three people in the audience said that they liked the concept. “Change is always difficult. We’ve developed a culture in that area, and we don’t want to see that lost,” said Mike Boyce of Cary. “Our village was born on single-family ideas. I understand the tax issues and how much we need that ... but I don’t think anyone wants to see commercial in this residential area. ... I don’t want to see one more car going down my street because of this development.”

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

We know the problem well. We live it. Other than Hawaii, California has the ignominious distinction of leading the nation in housing costs, and not by a little. A San Francisco apartment costs more than one in New York City. A Silicon Valley home is beyond reach of all but the wealthy. A 2015 Legislative Analyst’s Office report said homes here cost two and a half times more than the average national price . It gets worse by the day. Companies expand elsewhere because workers can’t afford to live here. For workers who stay, commutes are interminable because they live far from their jobs. It has taken California decades to get into this mess. Consider what’s coming to be a down payment. No fewer than 15 housing- related bills awaited legislators upon their return Monday. Some would provide tax incentives so the working poor can afford decent housing , and homeless people can find shelter. Others would streamline approval for new homes so millennials can own a piece of the American dr...

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...

The Northpointe Village shopping center could get a 300- unit apartment complex , on a vacant parcel with rental appeal for employees of Mettler Toledo. The Swiss- manufacturer broke ground in January on a 250,000-square-foot plant, within Northpointe. The plant is expected to bring about 500 jobs into Pasco County, with about 185 of them being new jobs for the company. Northpointe Village is a walkable ‘main street’ village concept with offices and shops, off State Road 54 at Suncoast Parkway. Apartments would add a residential component to the development. (Kathy Steele) Members of the Pasco County Development Review Committee recommended approval of the apartments at their March 30 meeting in New Port Richey. The matter now goes to the Pasco County commissioners for a final vote. Letters of support came from the board of directors of the North Pointe at Suncoast Crossings Owners Association , and Mettler Toledo. Mettler’s General Manager Viggo Nielsen wrote that the apartments...