The 234 Apartment

AT least two projects nestled in a mature residential precinct in District 9 near Somerset are being run as serviced apartments - despite not having the regulatory approval to do so - and a third one is opening. Oxley Thanksgiving Residence , a freehold condominium at 328 River Valley Road owned by Chinese temple Poh Ern Shih , and St Thomas Lodge , which also sits on freehold land at 32 St Thomas Walk , are listed for short-term stay on the website of accommodation service provider Atas Residence . The Business Times' visit to these projects confirmed that they are being run as serviced apartments. A third property, Devonshire Apartments at 17 Devonshire Road , has just undergone a major renovation, and the units there are understood to be starting a new chapter as serviced apartments this month. BT's query to the Urban Redevelopment Authority (URA) confirmed that these three properties are currently approved for residential use, but "do not have planning permission to...

Along Florida's Turnpike in South Miami -Dade, where potato farms and fields of row crops stretched all the way to the visible horizon at the time when Hurricane Andrew struck , it’s virtually all rows of close-packed houses and townhomes today. Now the unavoidable noise walls are going up to forever block vistas once among the most beguiling in South Florida. Along South Dixie Highway , where scraggly lots, small farm fields and vegetable- and fruit-packing houses once mixed it up with used-car lots and budget motels, the landscape is a cornucopia of strip malls, Publix and Wal-Mart stores and fast- food chain restaurants . And everywhere there is traffic, backed up one way in the morning, when three-quarters of all employed adults in South Miami - Dade head north to downtown Miami , Coral Gables or even Doral to work, and the other way when they drive back home in the evening. Lightning struck as thunderstorms swept through the ruins of Homestead in the days after Hurricane...

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...

Multifamily sales totaled $147 million in the Buffalo area market in 2016, up from $127 in 2015 and again above the $ 100 million dollar level achieved each of the last five years.  The investment market is most active in suburban garden apartment complexes . Private locally based principals were active as both buyers and sellers with prices at all-time high per unit valuations . These older apartment properties comprise the majority of the existing inventory and are often fully occupied with rising rents. From a tenant perspective they are often the best housing available at a given price. Located in dense residential neighborhoods , they are near employment, shopping, entertainment and within desirable suburban school districts . It would be impossible to duplicate them today in the same locations with the same rent structure and consequently they have little competition in their price range. This drives the rent growth that attracts investors. In April of 2017, RENTCafe’s surve...

Whether you call it Van Ness or Forest Hills , the area is a desirable destination in the DC area. Found in the northwest quadrant, the residential neighborhood gains one of its namesakes from its close proximity to the Van Ness campus of UDC and from the nearby Van Ness Metro station . This suburban neighborhood is also home, however, to large sprawling homes and apartment complexes, with some dating back to the early 1920s and others of new construction. While large co-ops, condos and rental buildings stand in the area, so do some newer, luxury apartments. With that comes a range of home prices, with some even topping the multi- million dollar range , displaying architecture of varying styles and decades. You’ll also find several rentals in the area, with prices dependent on the building and location. Recently, community leaders have also focused on the community itself, not only attracting new businesses to the area but keeping the needs of the community in check. Along with t...

Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won't want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They'll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for on the corner of ...

(Bloomberg)—Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won’t want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They’ll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for o...