Construction Maison

gallery_items: SHARE Galesi Group COO David Buicko says will be the nicest apartment in the Capital Region, on the Mohawk Harbor site ." /> - The view from what Galesi Group COO David Buicko says will be the nicest apartment in the Capital Region, on the Mohawk Harbor site . SHARE Galesi Group COO David Buicko says will be the nicest apartment in the Capital Region, on the Mohawk Harbor site ." /> - The view from what Galesi Group COO David Buicko says will be the nicest apartment in the Capital Region, on the Mohawk Harbor site . SHARE River House luxury condominiums Friday , October 28, 2016." /> - The main hallway in the River House luxury condominiums Friday , October 28, 2016. SHARE - The intersection of Erie Boulevard and Mohawk Harbor Way in Schenectady Friday, October 28, 2016. SHARE Rivers Casino Hotel on the Mohawk River in Schenectady Friday, October 28, 2016." /> - A boater passes the Rivers Casino Hotel on the Mohawk River in Schene...

It’s been only two months since the Portland Housing Authority opened Bayside Anchor , its first new housing development in decades. But already, the low- income housing provider is poised to file plans for two additional projects , totaling more than 155 units of housing at a time when a dearth of affordable housing in Maine’s largest city is reaching crisis levels . “This is the continuation of our effort to be a part of the solution to the affordable housing crisis in Portland,” said Jay Waterman, the housing authority ’s development director. The authority is looking to build a 55- unit apartment building at 58 Boyd St. in the city’s East Bayside neighborhood . The site is practically across the street from Bayside Anchor , a highly energy- efficient PHA apartment building at 81 Oxford St. with 45 units that opened in June. A public meeting about the East Bayside proposal has been scheduled for Monday, from 6:30 p.m. to 8 p.m., at 47 Smith St. Meanwhile, about 2 miles away, t...

SILVER SPRING, MD — Thursday is the one-year anniversary of the devastating explosion at the Flower Branch Apartments that killed seven residents, two of whom were children, and displaced about 100 people. A vigil will be held to remember the victims Thursday evening . The Aug. 10, 2016 blast was caused by a natural gas leak . A total of 28 apartment units were destroyed, and 50 families were displaced by the disaster. Dozens of residents were injured at the scene, some from burns and others from broken bones as they jumped from the third and fourth floors of the buildings. The vigil will be held by the nonprofit CASA from 7:30 to 9:30 p.m. Thursday in the parking lot across the street of 8658 Piney Branch Rd. The vigil will honor those lost and the families of the victims will be invited to speak. The victims killed in the blast were: Deibi “David” Samir Lainez Morales, 8 Fernando Josue Hernandez Orellana, 3 Augusto Jimenez Sr., 62 Maria Auxiliadorai Castellon-Martinez, 53 Saul Pa...

By: Kevin McQuaid | Commercial Real Estate Editor August 25, 2017 A pair of Southwest Florida apartment complexes have sold for a combined $137.6 million, a sign that investors’ fever for rental projects remains high in Lee and Collier counties . In one deal, Los Angeles- based TruAmerica Multifamily and MSD Capital L.P. — an investment vehicle for Dell Computer founder Michael Dell ’s family — purchased the Sienna at Vista Lake in Fort Myers for $66 million. The 640-unit complex, which was constructed as two separate complexes in 1990 but combined 20 years later, contains 32 garden- style apartment buildings . The 3701 Winkler Ave. community features a pair of clubhouses, as well as amenities like swimming pools, fitness centers, basketball and tennis courts and jogging trails. TruAmerica and MSD are expected to invest about $6 million into upgrading the Sienna at Vista Lake, including new unit lighting, appliances, fixtures, countertops, cabinet fronts and washers and dryers, ov...

NORFOLK The housing market may be struggling, but apartment construction in Norfolk continues to boom. The City Council is expected to approve a rezoning today that will allow a 180-unit, $20. 7 million upscale apartment development called the Meadowood Apartments to be constructed off North Military Highway . It would be the seventh apartment complex that opened, received city approval or on which construction began in the past year. Moreover, two other apartment complexes have been proposed. Meadowood would be built on 7.7 acres currently zoned for industrial use on International Boulevard adjacent to a Kmart and the Park Crescent Apartments . Rents would top out at $1,450, said Taylor Franklin, vice president of multi family development for S.L. Nusbaum Realty . It would be a gated community, Franklin said. Nusbaum has either proposed, built or is building four of the complexes in Norfolk. "The apartment market in Hampton Roads remains very strong," Franklin...

San Francisco Supervisor Aaron Peskin has asked the city attorney to explore legislation to impose a vacancy tax on large property owners who leave residential and commercial buildings empty . During a supervisors meeting this month, Peskin said he continues to receive complaints about the impact of “ghost buildings” on neighborhoods. The problem is, nobody really knows how many vacant homes there are in the city and whether a vacancy tax would be legal or effective in freeing up much-needed housing. In an interview, Peskin cited a 28- unit apartment building at 1656 Powell St. that was vacated after a fire damaged some units in December 2013. It remains empty. The three-story building is in a prime North Beach location across from Washington Square Park . Four businesses on the building’s ground floor — a liquor store, a bar, a Thai restaurant and a seafood restaurant — are open, but the apartments above still have boarded-up windows and a littered lobby. Some work was done in the...

SEGUIN - Two large apartment complexes have opened this year in the city, and management teams at both complexes are being kept busy with inquiries from prospective residents. The Ranch at State Highway 123, a 180-unit complex, opened in March in the 3000 block of North 123 Bypass, and Oak Hollow, a 160-unit complex, began leasing in July at its location on Jim Barnes Drive east of the intersection of South 123 Bypass and Barnes Drive. Oak Hollow's management describes it as "a community of apartment homes." It consists of 80 one-bedroom apartments, 72 two-bedroom units and eight three-bedroom units. "It's not your everyday apartment complex ," said Lacey Garner, assistant vice president with Greystone Asset Management . "Our builders and our owners have taken into consideration trying to reduce our carbon footprint. "We want to help Seguin ‘go green,'" Garner said. Oak Hollow was constructed of sustainable materials and provides energy...

BRADENTON -- A Chicago company has paid $39.25 million for a set of 336 apartments that have only been off the market for four years. The Inland Real Estate Group 's purchase of the Sawgrass Cove Apartments on Jan. 28 is the fourth major multifamily transaction in the Bradenton area since mid December. Like several of those previous sales, the Sawgrass deal gave a short-term owner a quick gain on its investment. The seller in the transaction, Sawgrass Cove Apartments LLC of North Miami, bought the 24-year-old complex in 2011 for $23 million. Situated on about 28 acres at 4945 49th Avenue W., the complex is grouped in with several other apartment properties south of Cortez Road W. One neighboring property, the Palm Cove Apartments , sold for $31.6 million in early January. In that case, the buyer purchased 298 out of a total of 348 units in the complex, which was converted to condominiums several years ago. Other major recent apartment transactions include the $43 million sal...

The California legislature is responding to spiking Bay Area rents by moving bills that would force cities to loosen restrictive land use rules that have impoverished renters and created massive profits for apartment owners. Year-over- year apartment rents at the end of March 2016 were falling hard in the Bay Area, with annual percentage decreases of 15% in Redwood City, 13% in Santa Clara, 8% in Palo Alto, and 5% in Oakland. But prices stabilized after the election of President Donald Trump ignited a new technology stock price boom , and have recently begun to take off and spike to new all-time-highs over the last 12 months. But the most recent Zumber survey found that Bay Area one- bedroom apartment rents rose by 2 percent in July. San Francisco  has the most expensive rent in the state at $3,450, followed by Mountain View at $3,060, and Redwood City at $2,970. The least expensive area rents were Vallejo at $1,270, followed by Napa at $1,540, and Santa Rosa at $1,550. The fear...

Samuelson Development has spent the past 15 years building and managing apartments in Sioux Falls, one of the fastest growing cities in the nation. Now, the construction firm has struck out for the west where it is seeing new opportunities and investing millions of dollars. "We love the Rapid City market ," said Matt Petersen, property manager for Samuelson Development . "Our research showed there was a high demand for luxury housing."  The company, which has about 600 properties in its portfolio, is spending about $16 million on the Copper Ridge Apartments project now under construction at 2000 Golden Eagle Road in southwest Rapid City , project manager John Samuelson said. It is the company's first project in Rapid City. The construction of those apartments, along with the Gateway Apartment project on Marlin Drive in southern Rapid City that has a permit value of $15.1 million, represents a resurgence in the construction of new multi-housing projects...

Work is progressing on some high profile housing developments in Terre Haute, but one project is on hold, another has been delayed and a third scaled back.. A shortage of skilled labor and rising lumber costs prompted Thompson Thrift to shelve a planned $28 million, 232- unit expansion of Sycamore Terrace apartments , off New Margaret Drive, according to Paul Thrift, company president. And, after an initial start date set for earlier this year, Carmel- based Mainstreet Student Living is now looking to begin construction in April on a $20 million, 162-unit complex near Union Hospital with completion in August 2019. Mainstreet’s project was pushed back “in an effort to ensure our partners could execute our plans and guarantee an on-time opening,” said Justin Farris, managing director. A third project involving market rate apartments on Sidenbender Road near 25th Street and Margaret Avenue has been reduced in scope with construction scheduled to begin next spring on...