Construction Maison

It was only four years ago that Africa’s richest square mile became the destination of choice for SA’s major financial firms , sparking the largest commercial property development boom of the decade. Corporates including Investec , Nedbank, RMB and the JSE were the early movers into Sandton during the 2000s, and several firms have since followed suit. Sasol, Webber Wentzel, Alexander Forbes, EY, and Bowman Gilfillan have anchored their main offices in Sandton in recent years while Discovery and Old Mutual Emerging Markets will soon pile into the area. Property developers believe the catalyst for Sandton was the advent of rapid rail system Gautrain in 2010, which unleashed billions of rands in office, retail and residential property developments . Over the last three years, developers launched high - rise luxury apartments , piggy-backing on the relocation of corporates into the area that would, in theory, create demand from buyers who desired to live closer to work. However, the s...

water damage incident Aug . 16 at Market Square Apartments , 200 N. Addison Ave., Elmhurst." class="automarg" src="http://www.mysuburbanlife.com/_internal/cimg!0/f25ywy10lpnhqgln5r0sugze3i8tgvj" /> Mary Stroka - mstroka@shawmedia.com Caption The Elmhurst Fire Department responds to a water damage incident Aug . 16 at Market Square Apartments , 200 N. Addison Ave., Elmhurst. ELMHURST – Three units at the Market Square Apartments in Elmhurst experienced water damage Wednesday morning after a worker accidentally set off the sprinkler system by soldering too close to a sprinkler head in a ceiling, Elmhurst Deputy Fire Chief Bill Anaszewicz said. The Fire Department responded to a 9:59 a.m. alarm, arriving at 10:04 a.m. at the apartments at 200 N. Addison Ave., Anaszewicz said. The laborer from a heating and cooling repair company had been working on an air-conditioning unit and soldering next to a floor joist, he said. The water damage went from the third ...

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- ...

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...

Central London property , slightly higher than the market average of £1.6 million. Photo: Bloomberg" title="Indians spent an average of £1.77 million for a Central London property , slightly higher than the market average of £1.6 million. Photo: Bloomberg" class="img-responsive" /> Indians spent an average of £1.77 million for a Central London property , slightly higher than the market average of £1.6 million. Photo: Bloomberg Bengaluru: Indians are the second largest buyers of property in central London , accounting for 22% of sales in the year to August, pushing buyers from West Asia to the third slot (at 21%), according to property investment advisory London Central Portfolio ’s (LCP) latest sales audit . South- East Asian buyers took the top spot, accounting for 36% of all purchases. Interestingly, Indians also spent more per house. They accounted for one-third of the total spend, with an average purchase price of £1.77 million, slightly higher tha...

The Saco Planning Board is considering a project that calls for 22 “micro-apartments” to be built in a former mill building on Saco Island. Saco Island West LLC wants to build the 470-square-foot apartments on two floors above the popular Run of the Mill Public House and Brewery on Saco Island, which sits between downtown Saco and Biddeford. If approved, the project would join others in both cities that offer apartments in renovated mill buildings that also house businesses. The project would also be the second in Saco to feature micro-apartments. The former Notre Dame de Lourdes church on Cutts Avenue will become 80 units ranging from 600 to 800 square feet as part of a three- phase project expected to begin late this year. The “Saco Island SmartLofts” plan presented by Saco Island West LLC to the planning board includes a commercial space on the second floor and a total of 22 micro-apartments on the third and fourth floors. The micro-apartments will attract young residents t...

Trammell Crow and Cumberland Development’s Harborview project will be positioned on the lakefront next to the inner harbor and the Rock & Roll Hall of Fame. Cleveland’s central business district (CBD) continues to make headlines as events like the Republican National Convention , the 2016 and 2017 NBA Championships and the 2016 World Series earned national attention . Within the office market, trends such as “flight to quality” and  office-to-residential conversions, which are driven by a hot apartment market , have reduced surplus supply and lowered vacancies. This has shaped metrics positively , and has put Cleveland in a position of strength for the upcoming years. The news of the year has been the purchase of Key Tower by Millennia Cos., a local real estate developer known mostly for multifamily. The company moved its headquarters from a property in Valley View to two entire floors spanning approximately 40 ,000 square feet in Cleveland’s signature office tower . Douglas Lea...

SPRING HILL — Dozers and other earthmovers appear to be scraping up enough sand to build a pyramid on Northcliffe Boulevard, just west of Mariner Boulevard. With no informational sign on the property, many have wondered: What's being built? Related News/Archive The answer: Seven residential buildings of two and three stories, consisting of a total of 160 two- and three-bedroom apartments, will rise on the 10-acre site, said Damon Kolb, development associate with Lamson Avenue Apartments Ltd. in West Palm Beach . "We hope to have the first building ready by the fourth quarter this year," Kolb said. The complex will be known as Mariner's Cay. The apartments, up to 24 per building, will be reasonably priced, Kolb said. "We think there is still a market for affordable apartments. Affordable apartments for people who work in service industries has been underserved," he said. The state apparently agrees . The Florida Housing Finance Corp . is providing the develo...

Work on a new 80- unit apartment complex in Glasco, given final approval last month by the town planning board , could begin this spring, said Kingston- based developer Paul Page . “It may take a couple of years to complete, but we will be building straight through, not in phases,” he said. As the first buildings are completed, the apartments will be rented, Page said. The Glasco project will be similar to Page’s Orchard Hills Apartments in Kingston. The plan calls for eight two-story buildings, each containing eight to twelve apartments. Parking for 141 cars would be provided on-site. The planning board voted unanimously to approve the project at its December 19 meeting. Advertisement Given the history of the site — which includes a rent-subsidized project that was eventually withdrawn as a result of public protests and failure to secure state funding — Page emphasized that these apartments would not be subsidized. Rents would be at current market rates . On...

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...