Construction Maison

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...

Rhodium Capital Advisors Acquires 14 - Building Connecticut Portfolio With Firm Capital Partners for $30.5 Million. Press Release - updated: Aug 17, 2017 New York, NY, August 16, 2017 (Newswire.com) - ​ Rhodium Capital Advisors today announced the acquisition of 462 apartment units in the Cambridge district of Bridgeport, Connecticut for $30.5 million. The portfolio consists of one 179-unit complex and thirteen buildings (clustered in four areas around the city) with an average of 22 units each. The properties are located at: 2209-2225 Main St., 1465 East Main St ., 340 Putnam St., 299 Berkshire Ave., 644-654 Park St., 30 Granfield Ave., 80 Granfield Ave., 85 Price St., 1575 Iranistan Ave., 898-930 Norman St., 1421 Fairfield Ave., 850 Hancock Ave., 1054 Hancock Ave. and 1590 Barnum Ave. Rhodium’s business plan for the portfolio involves spending approximately $1 million on building- wide capital improvements and $1.6 million to upgrade and modernize the apartment units. This acq...

Rochester has the second-highest gap in homeownership rates across races in the country, a new report shows. When measuring homeownership rates in the 50 largest metro areas nationwide , Apartment List found that in Rochester 70.1 percent of white households own their homes, compared with 21.2 percent for black households, 35.6 percent for Hispanic households and 48 percent for Asian households. Rochester’s 37. 1 percent average gap in homeownership rates across races was second behind Buffalo, where the gap is 40.5 percent. In Buffalo, the white homeownership rate is 67.8 percent, while the average homeownership rate across minority races is just 27.3 percent, according to the report. Utilizing data from the U.S. Census Bureau, Apartment List also found that Rochester is the third least diverse metro of the nation’s 50 largest metropolitan areas . On a national level, the report found that 64.4 percent of white households are homeowners, compared with 54 percent of Asian house...

Pamper Yourself with a San Antonio Vacation Home San Antonio is a cultural hub in South Texas, and it is one of the largest cities in the second largest state in the country. It is rich in history, and the historic ambiance of the city is combined with modern appeal and attractions to give you a truly amazing place to visit. There are some lovely vacation homes located in San Antonio, and these give you a picture-perfect place to rest and relax while you explore all that the San Antonio area has to offer. With a closer look at the homes, you may discover that they have a garage, a fenced yard, a kitchen and other amenities that will help you to feel right at home during your stay. Attractions When you stay in your South Texas vacation home , you will love the fact that you are located in the heart of one of the largest metropolitan areas in the state, and this is because there is so much to see and do. The Riverwalk, located in the heart of the city, is among the top destinations t...

Property is 13th Fund Acquisition CHICAGO and CHARLOTTE, N.C., Feb. 20 /PRNewswire/ -- The Laramar Group, a fully- integrated real estate investment and management company, today announced the acquisition of the Waterford Lakes Apartments , a 694- unit lakeside property in Charlotte, North Carolina, located at 8000 Waterford Lakes Drive . Waterford Lakes is the thirteenth property acquisition for Laramar Group's Multifamily Value Fund, which launched in December 2006. " Waterford Lakes offers residents an ideal living situation : picturesque, resort- style residences located within walking distance of rapid transit, near local employment centers , shopping and major metropolitan areas," said Jeff Elowe, president of Laramar Group. "With its lush surroundings and terrific locale, Waterford Lakes is a great addition to Laramar's portfolio, and an excellent way to round out the first year of the Multi-Famil...

Last May, I attended the reopening of the former Campbell Apartment, the secreted watering hole tucked inside Grand Central Terminal . To toast the newly refurbished rococo interior , I ordered a Manhattan. My drink came in a rocks glass. On the rocks. “First night,” I thought. “The staff is still green. They mixed up my order.” But, no. That’s how they do the Manhattan at The Campbell. “It’s a personal preference of mine,” said Vincent Mauriello, the managing partner of Gerber Group, which runs The Campbell. “We thought it was important to create our signature Manhattan. A lot of guests, when they ordered a Manhattan, they requested it on the rocks. It was enough that we thought we should serve it on the rocks.” In cosmopolitan New York City, Campbell’s iced Manhattan is an anomaly. Most craft cocktail bars would sooner serve Zima than a Manhattan on the rocks. But outside the most urbane metropolitan areas , the order is fairly common—as is an item considered even more sacrilegiou...

Photo: Ahn Young-joon, AP Image 1 of / 8 Caption Close Image 1 of 8 In this Wednesday, Aug. 23, 2017, photo, people gather at a shelter during a civil defense drill at City Hall in Seoul, South Korea. Once or twice a year, streets of South Korea’s busy capital freeze for several minutes at the sound of a siren, with cars stopping on roads and pedestrians moving into buildings and subway stations taking part in a nationwide drill aimed at preparing against a North Korean attack . But critics say the remarkable scenes mask aging policies that are failing to train South Koreans at a time when the threat posed by North Korea’s nuclear and missile program is growing. less In this Wednesday, Aug. 23, 2017, photo, people gather at a shelter during a civil defense drill at City Hall in Seoul, South Korea. Once or twice a year, streets of South Korea’s busy capital freeze for ... more Photo: Ahn Young-joon, AP Image 2 of 8 In this Wednesday, Aug. 23, 2017, photo, people walk out of ...

The proposed Eckington Park development . Image by Foulger-Pratt. A planned new development in Eckington faces opposition on an unlikely front: its request to change the current industrial zoning to build a mixed-use residential building. Amending the zoning would keep with nearby developments, but begs the question of where Washington DC  should preserve its limited industrial land , and how much it should save. The planned Eckington Park development is located at the northwestern corner of the empty lot at the corner of R Street and Harry Thomas Way NE next to the Metropolitan Branch Trail . This is the same lot where, on the southern half of the site, the NoMa Parks Foundation plans to build its new large park. Map showing Foulger-Pratt's proposed Eckington Park development and the new large NoMa park . Image by Foulger-Pratt. Developer Foulger-Pratt is seeking an amendment from the DC Zoning Commission to change the zoning of the site from PDR-2 and PDR-4, which allows li...

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,...