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CHICAGO , Aug. 9, 2017 /PRNewswire-USNewswire/ -- The AFL- CIO Housing Investment Trust (HIT) today celebrated the grand re-opening of the Kenmore Plaza Apartments , which recently completed an extensive $61 million rehabilitation. The 28-story, 324-unit building provides affordable housing exclusively to the elderly. The rehabilitation work included reducing the operating costs of the building by installing durable and easy to maintain materials and energy efficient equipment , improving energy and water efficiency over the long term, as well as upgrading the current residential units , floor hallways, interior ground floor , and building exteriors and the construction of a small addition to the existing structure. The HIT provided $22.9 million of financing through the purchase of Ginnie Mae construction loan certificates and a permanent loan certificate . "The HIT investment is helping preserve a historically significant building that has been a major source of afforda...

Local investors beware: Central Pennsylvania is on the map for outside groups looking for higher returns. Last month, The Solomon Organization , a New Jersey-based operator of multifamily properties, closed on a $25.7 million purchase of the newly built Ivy Ridge Apartments in Swatara Township . That price — $117,913 per unit — is the highest in the Harrisburg market this year. It also marked the company's first foray into the Harrisburg area after landing in Lancaster County six years ago. It owns six communities in Lancaster County and more than 1,200 units. "Two years ago, you said 'Harrisburg' and people would just hang up the phone," said Zachary Pierce, director of the National Multi Housing Group in Philadelphia for Marcus & Millichap Real Estate Investment Services . Outside investors were interested only in primary markets such as New York City and Washington, D.C., and maybe Philadelphia, he said. But as prices have shot up in those prime areas, th...

Madison Square Garden Co., which owns and operates the Forum in Inglewood, Calif., isn’t alone in its apprehension about an agreement between the city and the L.A. Clippers to negotiate construction of another arena in the immediate neighborhood – residents and businesses aren’t thrilled, either. Buried in the 22-page document is a proposal to employ eminent domain to acquire additional land to supplement acreage already owned by the city near the proposed project. A site map filed with the document indicates a four-block area containing 100 “potential participating parcels” where the arena might be built. The Los Angeles Times reports that within that four-block area are “an estimated 2,000 to 4,000 people, predominantly Latino” as well as businesses, schools, churches, apartments and single-family homes, in some cases occupied by the same families for generations. Not only did the city and Clippers identify the 100 parce...

1. If you can make it here… New York has long been the ultimate testing ground for businesses. But the city’s population density also makes it an important laboratory for startups, especially in today’s on-demand economy. Food- delivery pioneer Seamless survived the dot-com crash, paving the way for the arrival of meal-kit services such as Blue Apron and Plated a decade later. Related View this story in its original print layout Density has also been instrumental to the growth of ride-hailing and car-sharing companies. Most of them, including Uber and Lyft first gained their footing in smaller cities, then made New York their biggest market. Via, the on-demand ride-pooling service, launched here in 2013, is the exception: Its founders chose New York, figuring riders packed together on subways and buses wouldn’t need much persuading to share a car with strangers, especially when it cost just $5. article continues below advertisement App- based transportation startups have flocked t...

465 North Park is a 48-story, 444- unit apartment tower under construction at 465 N Park Dr in Streeterville. The building has nearly 12,000 square feet of ground- floor retail space and 181 resident-only parking spaces. The building is targeting LEED Silver certification . The groundbreaking ceremony for the building was held in September of 2016. First occupancy is slated for the summer of 2018. Jupiter Realty is the developer with Pappageorge Haymes as the architecture firm and Power Construction as the general contractor. The apartments The unit mix includes studios , convertibles, one-, two- and three-bedroom apartments, and nine two-story townhomes on the fourth and fifth floors. Kitchens will feature high-end appliances and cabinetry, and all units will have walk-in closets and full-size washers and dryers. The top two penthouse floors will feature top-of-the-line kitchens. Views . The building’s floor plate, based on angled ellipses, orients windows toward view corridors. M...

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Samantha Madison ROME — The apartment complex slated to be built at the site of the former Dewitt Clinton School is getting larger. Rome's Common Council conducted a workshop with DePaul Properties last week, where representatives told them that they have expanded the project to include more units because of public feedback. The new plan is to have 80 apartments of new housing with a 66- unit apartment building and 14 townhomes. There will be 60 one-bedroom apartments and 20 two-bedroom units. Of those, 70 units are adaptable, which will be able to support those with mobility issues. The original plan was to have 60 units with 56 one-bedroom apartments and four two-bedroom apartments. Dewitt Clinton Apartments took another step forward at the Rome Common Council meeting last week, where after a public hearing where no one spoke, the council approved a zoning change. The vote changed the property to be a residential planned development district , which is considered an...

1ST DISTRICT Banks St. 3114: Virginio Valdez to Ujwal S. Patil and Shaina L. Krok, $137,000. Banks St. 3508-10: Aramburo & Associates LLC to DDB2 Property LLC , $380,000. Poeyfarre St. 920, Annunciation St. 1049, Unit 154: Lev I. Shulman to Ryan E. Wall and Elizabeth C. Wall, $210,000. Poydras St. 1200, Unit 206: Poydras Properties II LLC to Agree Ltd. Partnership, $14,376. S. Scott St. 611: Samuel C. Kimball and Whitney G. Magendie to Brian M. Smallwood and Emily S. Williams, $305,000. S. Solomon St. 523: Succession of Italia Bacuzzi Dearing to Natalie G. Thomas, $250,000. St. Charles Ave. 1205, Unit 917: James P. Reed to Evangeline Davis, $157,000. St. Charles Ave. 201, Unit 1500: Bre Nola Parking LLc to EZ Park LLC, $27,551. 2ND DISTRICT Begonia Lane 16: Denise A. Tebbe and James T. Tebbe Jr. to Laura F. Guidry and Benjamin V. Guidry, $900,000. Bluebird St. 2: 2 Bluebird LLC to Jeanne A. Mullen and Jonathan C. Powers, $213,000. Brooks St. 330: Jonathan G. Owen and Rebecca S...