The 234 Apartment

As rents climb across the U.S., more people are being driven into homelessness. In some of the country’s hottest housing markets , rent increases have a strong connection with upticks in the homeless population , according to a study released this week from real- estate website Zillow . In New York City, a 5% rent hike would lead to nearly 3,000 more people becoming homeless. In Los Angeles, the same increase in rent would leave around 2,000 people without a place to live. To produce the report, Zillow created a model that analyzed different variables, including how population growth and changes in rent affect the homelessness rate. The model also considered the accuracy of homeless counts. Zillow then passed Census population figures , homelessness counts and its own rental data through the model to determine the relationship between rental prices and homelessness in different cities. The Census population numbers also take into account people who move in or out of a city, inclu...

The New Zealand apartment and townhouse market shows no sign of abating and is forecast to grow another 9.2 per cent next year, a sign that the Australian market could follow suit, new research from IBISWorld shows . Multi-unit apartment and townhouse construction will be fastest growing industry in New Zealand ahead of in-demand industries such as superannuation funds and aged care residential services . Apartment and townhouse prices will continue to grow 16.2 per cent a year until 2018 and then taper down to 2.3 per cent a year between 2018 and 2023. Driving this is  strong population growth of more than 2 per cent, which is higher than Australia's, IBISWorld senior industry analyst Tommy Wu said. Australia's population is growing at 1.6 per cent at the end of 2016, according to the Australian Bureau of Statistics. "The New Zealand market has similarities with the Australian market. They both have low interest rates – which drive the demand – but the main reason Ne...

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...

DETROIT, MI — General Motors Co. started its car-sharing service, Maven, just over a year ago, placing Chevrolets and Cadillacs in New York apartment buildings for occupants to rent. Since then, the service has grown exponentially. Maven is still working with apartment dwellers, but it is also offering hourly and daily rental cars in 17 North American cities . It also offers Maven Gig , a service that lets people rent cars to do odd jobs, like ride-hailing for Lyft or delivering food for GrubHub. Maven Gig expanded into Los Angeles earlier this month; it's coming to Boston, Phoenix, Washington, Baltimore and Detroit this fall. Maven is now moving onto college campuses. This week, it became the exclusive car-share provider to the University of Southern California. Students will be able to rent vehicles for $5 per hour, a lower rate than Maven's usual starting price of $8. College administrators will have their own dedicated vehicle to reserve. (For more local news, click ...

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...

New study from Zillow shows a 5 percent rent increase in Seattle would mean hundreds more on the streets By Kirsten O’Brien , SeattlePI Published 4:52 pm, Friday, August 4, 2017 Photo: Ablokhin/iStock Image 1 of / 17 Caption Close Image 1 of 17 Scroll through the slideshow for a look at the one- bedroom July rents in 15 Seattle neighborhoods. Scroll through the slideshow for a look at the one- bedroom July rents in 15 Seattle neighborhoods. Photo: Ablokhin/iStock Image 2 of 17 15. West Queen Anne Median one- bedroom July rent : $1,750 15. West Queen Anne Median one- bedroom July rent : $1,750 Photo: GRANT HINDSLEY, SEATTLEPI.COM Image 3 of 17 14. Green Lake Median one- bedroom July rent : $1,790 14. Green Lake Median one- bedroom July rent : $1,790 Photo: GRANT HINDSLEY, SEATTLEPI.COM Image 4 of 17 13. Stevens ( Northeast Capitol Hill ) Median one- bedroom July rent : $1,790 13. Stevens ( Northeast Capitol Hill ) Median one- bedroom July rent : $1,790 Photo: Jim Bennett/Get...

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...