Posts

Showing posts matching the search for Apartment occupancy

West Deptford revokes three certificates of occupancy at Forest Creek apartments

Image
WEST DEPTFORD TWP. – Chronic roof leaks and at least one ceiling collapse have led township officials to revoke three certificates of occupancy at the Forest Creek apartment complex . Residents of the second floor of the apartment complex near Jessup Road have, since last November in some cases, been complaining of regular leaks in their ceiling. Tisa Davenport was in her sixth year living at Forest Creek when a new leak spouted last January. “It was a regular thing, and it’s like you just know the routine at that point,” said Davenport, 33. “The response from management has always been you poke a hole in the ceiling, you get a bucket and you wait for roof repair. But I had three leaks this year and on Feb. 10 or 11, my ceiling collapsed.” Looking into the crater in her ceiling, Davenport reported seeing mold. Her apartment and two others have been deemed uninhabitable, following inspections from West Deptford code enforcement official Mark Hallahan . “It’s the smell of it that rea...

Midland rents jump from last summer

Image
Surveys shows rents increasing 9.4 to 20 percent in last year By Simone Jasper sjasper@mrt.com Updated 1:03 pm, Wednesday, August 9, 2017 average occupancy rate in Midland is 98 percent, compared to 89 percent in July 2016, according to the PBAA survey. Photo: Justin Sullivan, Getty Images" class="landscape" /> average occupancy rate in Midland is 98 percent, compared to 89 percent in July 2016, according to the PBAA survey." src="src" /> Photo: Justin Sullivan, Getty Images Image 1 of / 1 Caption Close Image 1 of 1 The average occupancy rate in Midland is 98 percent, compared to 89 percent in July 2016, according to the PBAA survey. The average occupancy rate in Midland is 98 percent, compared to 89 percent in July 2016, according to the PBAA survey. Photo: Justin Sullivan, Getty Images Midland rents jump from last summer Back to Gallery Rents in the Midland market have increased compared to last year, according to a Permian Basin Apartm...

Treasure Valley apartment construction bucks national trend

Image
Perryman Construction Management is building the 30-unit multi- family Hayspur development in Nampa. Photo courtesy of Mountain Peak Marketing " width="300" height="169" /> Perryman Construction Management is building the 30-unit multi- family Hayspur development in Nampa, shown here. Photo courtesy of Mountain Peak Marketing Apartment projects are going up across the Treasure Valley from Boise to Meridian to Nampa and to the next frontier in multi- family housing , Kuna. Some 2, 700 apartment units are in various stages of construction among those cities. Some are recently completed and some are being built in phases.  That is a stark contrast to the near zero multi- family construction in 2010 in metro Boise. Multi- family housing has evolved in the 21 st century, largely moving away from large buildings with hundreds of units. Locally, many developers have settled for the common denominator of sets of fourplexes with the occasional six-, eight- ...

Connecticut Mom Arrested After 5 Children Found Eating Dog Food Off Floor, Living in Feces Covered Apartment

Police arrested a woman Thursday after they found five children living  in deplorable conditions in a third floor Connecticut apartment , according to WTIC. Police and fire crews were called to the apartment in downtown Middletown around 2 p.m. after a report of an air conditioner fire caused by a cigarette thrown from the third floor window. The rear exit of the apartment was blocked by trash, fire officials learned . The health department was also on scene because of complaints that there was a leak from the apartment into the second floor ceiling. Chloe Edwards, 27, opened the door when officers arrived and they were “taken back by the smell coming from the apartment.”  Police said the carpet was covered with food, urine, feces, and cockroach carcasses. There were “a multitude of flies were in the apartment as well.” Officers found five juveniles in the apartment – four were her children and the fifth had been reported missing by her mother Aug. 4. Officers found a tub with a con...

Despite Oil Bust, Midland is Still Bustling

Image
How plunging oil prices are reversing fortunes across Texas. Read all the stories in this series. MIDLAND — Thousands have been laid off. Tax collections are plummeting. Many are on the brink of homelessness.   Rows of drilling rigs and white company trucks sit idle — there’s no telling for how long. And, yet, amid the worst oil bust in decades, the energy capital of West Texas hasn ’t slowed down much. Several oil companies have recently built  office complexes in the area, and drilling continues , albeit at a more sluggish pace. The city plans to build a new convention center, and construction of a municipal courthouse is underway. Several more hotels, apartment complexes and eateries are expected to open   this year, and a second H-E-B grocery store just came online . "For hire" signs are ample, road crews prolific . And people still complain about the traffic. “People from the outside come in expecting to see boarded-up windows, 'for sale' signs everywhere,...

Should SF tax empty homes and buildings?

Image
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...

Inside Milestone Apartments REIT’s $1.9B Acquisition

Image
Milestone Apartments REIT has entered into an agreement with Starwood Capital Group to acquire, by way of merger, Landmark Apartment Trust for $8.17 per Landmark share in cash, representing a total enterprise value of approximately $1.9 billion. The acquisition is expected to close in early 2016. Kirkland & Ellis LLP advised Starwood Capital Group and Milestone Apartments REIT in connection with the agreement’s execution. Milestone announced the acquisition of 100 percent interest in 15 high-quality, garden- style properties totaling 4 ,172 units from Landmark Apartment Trust for a gross purchase price of $502 million. The properties average 10 years in age. This acquisition is in line with the REIT’s growth strategy to enhance its portfolio and improve its operating margins and cash-flow position. Starwood will acquire Landmark’s interest in 63 properties, to be managed by the REIT. Milestone also announced its Board of Trustees has approved an approximate 11 percent incr...

Fall Start Seen For Route 120 Apartments

Lebanon— The apartment complex to be built behind the Element hotel on Route 120 in Lebanon moved has moved a step closer to reality as the developer has filed his plans and sought permission from the city to begin construction. Manchester developer Dick Anagnost filed a permit application with the Lebanon’s city planning department to begin construction on a $4 million, three- story apartment building . He hopes to be able to break ground on the project this fall and have it ready for occupancy next summer, according to Anagnost. The apartment building is the first in a planned 153- unit residential complex in Altaria Lebanon Park , a mixed commercial and residential development spanning 65 acres of which the 4-year-old Element hotel was the first phase. Anagnost expects the entire five- building apartment project to be completed by 2019 at a cost “all-in, probably $20 million to $30 million,” he said in an interview. And even though construction on the project has not yet beg...

AMLI plans 279 apartments at Mueller neighborhood

AMLI Residential, one of Austin’s — and the nation’s — largest multifamily developers , said it plans to build a $30 million, 279- unit apartment complex near the site of the planned town center at the Mueller community in Northeast Austin. AMLI expects to break ground in the first quarter of 2013, with the first units available in the third or fourth quarter of 2014, said Taylor Bowen, executive vice president of AMLI Residential. The apartment complex will be built along Simond Avenue and Mattie and McBee streets, across from Mueller’s 30- acre Lake Park and the planned home for Austin Children’s Museum. AMLI’s announcement comes amid growing demand in the region’s apartment market , where rents and occupancies have reached record levels this year, fueled by job and population growth and a relatively scarce supply of new units coming to market, though thousands are planned. The new complex will have a mix of efficiencies and one- and two-bedroom units. Some units — 15 percent...