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As housing market swoons, rentals boom in Norfolk | Real Estate

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...

OPEN DOORS: Oak Hollow joins The Ranch as Seguin’s apartment options blossom

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...

Some forced to move as Ann Arbor-area apartments transition from affordable to market rate

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Megan Mishler has lost her sense of security. Mishler, who has a rare genetic condition called Ehlers -Danlos Syndrome that prevents her from working, was recently forced to move from her apartment just west of Ann Arbor because her landlord is transitioning from affordable housing to market rate. Mishler is not alone; the transition will impact 144 units at the 368- unit Woodchase apartment complex at 1100 Rabbit Run Circle in Scio Township. “This has been extremely, extremely difficult. I was almost paralyzed at first,” Mishler said, referring to when she learned she would have to move. “This just added a whole other layer on top of all the other stuff that I’m already dealing with.” Mishler was told the rent for her one-bedroom apartment would jump from $770 per month to about $1,200 per month at the end of her lease term. The Woodchase apartments in Scio Township were developed in 1998. Katie McLean | The Ann Arbor News   Mishler uses the Section 8 Housing Choice Voucher Progr...

Navy F 18 Crash: Jet Slams Into Apartments In Virginia Beach, Virginia

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A U.S. Navy jet crashed into an apartment complex in Virginia Beach , Virginia, on Friday afternoon . CNN reports that the plane -- an F/A-18D assigned to Strike Fighter Squadron (VFA) 106 -- slammed into the Mayfair Mews Apartment complex , setting several apartments on fire. The US Navy reported that both pilots ejected from the plane, but are being transported to the local hospital for observation. The burning fuselage of an F/A- 18 Hornet lies smoldering after crashing into a residential building in Virginia Beach , Va., Friday, April 6, 2012. (AP Photo) The video posted below appears to show the fire and smoke after the crash: [embedded content] SEE MORE VIDEOS on HuffPost here. The U.S. Navy released the following statement: VIRGINIA BEACH , Va. (NNS) -- An F/A-18D assigned to Strike Fighter Squadron (VFA) 106 crashed in Virginia Beach , Va. April 6. Initial reports indicate that at approximately 12:05 p.m., the jet crashed just after takeoff at a location just off of the b...

As housing market soars, poorest renters are priced out

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"); } if ($(imageDivId).length == 0) { $("#wrapper").after(contentText); } })(jQuery); BREMERTON, Wash. - Crystal Turner stood in the kitchen of her cramped apartment and stared at the cracks in the fake wood flooring beneath her feet. Surrounding her was the home she'd made for herself and her two sons in the past year, since they moved out of her Toyota Camry and into Admiral Manor, a low- rent apartment complex in west Bremerton . There was the single bedroom with two kids' beds on the floor. The living room she'd decorated with signs that said "Hope" and "Love." A dingy bathroom with a leaking toilet that had never been fixed. In this undated photo, Matthew Daigneault pushes his son Aden as he plays outside on the swings of his rental home in West Bremerton , Wash. (Larry Steagall/Kitsap Sun via AP) © 2017 Cox Media Group . Admiral Manor wasn 't the place Turner, a recovering addict, wanted to raise her boys. It was the place...

20-plus years after it closed, Trinity Meadows horse racing track to be torn down

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Trinity Meadows Race Track has been sitting vacant for more than 20 years, a place that has been victimized by time and vandals, a refuge to countless birds, yellowjackets and small critters. Trinity Meadows is where horses raced before Lone Star Park opened in Grand Prairie. It had previously been named Clear Fork Downs and later, Squaw Creek Downs . But now, as sprawl continues to encroach into Parker County, Trinity Meadows is about to be no more. Beginning the first week in September, the remaining 9,000-seat grandstand — a visual icon for motorists heading west on Interstate 20 — will be torn down. Cisco- based Wilks Development , owners of the property, said memories of the race track would live on as they transform in the property into a mixed-used development. “We looked at building an event center, that was originally our plan,” said Kyle Wilks, president of the company. “We looked at it in detail. But the more we dug into the economics ... it became very questionable. A...

Rolling Hills Apartments, St. Paul, Minnesota

OVERVIEW “Wherever there is conflict in the world, a few years later you start to see that population showing up here,” says Andriana Abariotes, executive director of Twin Cities LISC ( Local Initiatives Support Corporation ). Minneapolis-St. Paul has a long history of welcoming immigrants and refugees from around the world and is home to many organizations serving these populations. St. Paul’s East Side, where LISC has worked for years, is home to a rich cultural mix of immigrants including Hmong , Somali, Karin, Bhutanese, Sudanese, Latinos and others, alongside Native and African Americans. “Wherever there is conflict in the world, a few years later you start to see that population showing up here.” “It is a hard to reach population,” says Amy Gillman at the LISC national office . These are “highly impoverished and culturally diverse residents , who face significant barriers to physical and social activities related to health.” To make matters worse , the city is experiencing a ...

Judge: Bears near US-Canada border merit endangered status

LAFAYETTE, La (KLFY) – A ribbon cutting was held Wednesday afternoon to mark the completion of a major renovation project at Holy Family Apartments . Holy Family Apartments is a low- income housing complex owned and operated by the Diocese of Lafayette. The property has been undergoing renovations for about two years. “We have replaced everything in each apartment down to the interior and exterior stud walls ,” said Ed Boustany, Director of Projects for the Diocese of Lafayette. “This includes all sheetrock, flooring, cabinets, appliances, air conditioning systems , electrical components, and for the first time in the history of this property our residents are better protected with the complete installation of a fire sprinkler system .” The exterior also received some much needed repairs. “All of the units have new roofs, windows, doors, and siding,” said Boustany. Boustany says the renovations cost over $20 million. He says this is the first major renovation since the complex ope...

Blackstone sells suburban Chicago apartments to JRK Holdings - News

Blackstone Group has sold a big apartment complex in west suburban Lombard for $67.4 million, notching a solid gain about two years after buying it. The New York private equity firm sold Clover Creek , a 504-unit property at 830 Foxworth Blvd., to JRK Holdings, a Los Angeles- based investment firm , according to DuPage County property records . The price, which amounts to $134,000 a unit, is 24 percent higher than the $54. 1 million Blackstone paid for the complex in March 2015. Rising rents and occupancies have pushed up suburban apartment values the past several years, allowing investors to cash out of properties at higher prices than they paid. But that alone doesn't explain the jump at Clover Creek. BOOSTING VALUE Blackstone increased the value of the complex by renovating a bunch of its apartments. Then it raised rents on the rehabbed apartments, boosting the property's income and justifying the higher price. After fixing up 72 apartments at Clover Creek, it hiked rent...

New apartment complex delivers unique floor plans

RIVERVIEW — A new luxury apartment community has opened in the Progress Village area touting itself as a distinct living option just 10 miles from downtown Tampa. Alta at Magnolia Park is a 292-unit complex that is already approximately half full . Monica Briant, the senior residential manager , said most residents have migrated here for work as teachers, healthcare workers , bankers and insurance agents or for military service at MacDill Air Force Base . She said many of them are drawn to the creature comforts at Alta. "The floor plans are very different to the market," said Briant. "We offer a foyer entry so you are not walking right into your living room. That doesn't create a sense of home." Located at 9104 Canopy Oak Lane , Alta at Magnolia Park features granite counter tops and stainless appliances, sport court and a pet spa for bathing, grooming, drying your pet, four electric outdoor kitchens for the grillers out there and a salt water pool . Wash...