Construction Maison

There’s a big demand for more affordable housing in Charlotte, where rents and home prices have shot up much faster than wages over the past few years. Many of the apartments being built now target more affluent renters, waitlists for housing vouchers are long and starter homes are snapped up almost immediately. So why aren’t developers building more affordable housing ? That was one of the main questions at a candidate education panel hosted by the Greater Charlotte Apartment Association on Friday, where about two dozen candidates for Charlotte City Council turned out to learn some of the basics on a complicated subject. “ Affordable housing is one of the topics you’ll talk about a lot,” Bryan Holladay, who supervises the group’s government affairs outreach , told the candidates. The subject is an alphabet soup of acronyms (like NOAH, or “ Naturally Occurring Affordable Housing ”) and overlapping terms and definitions. Sometimes when people say “ affordable housing ” they mean go...

CLEVELAND, Ohio -- A Lyndhurst hotel and a pair of projects that will bring nearly 500 apartments to Cleveland won financing support Tuesday from the Cleveland- Cuyahoga County Port Authority . The port's board signed off on nearly $200 million in real estate- related bond transactions , setting the stage for construction to start within months on a trio of projects. The agency acts as a conduit for development financing, issuing bonds and helping to structure deals that involve longer terms , lower interest rates or cheaper construction materials than a borrower might find in the private market. Tuesday's headline deals were: A  Hyatt Place hotel and a 355- space parking garage at the Legacy Village shopping center in Lyndhurst. Developer Mitchell Schneider hopes to start construction in May and to complete the $33 million project by June 2016, in hopes of grabbing hotel- room demand generated by the Republican National Convention in July. The 135-room hotel and gara...

Before Larry Shaia finished developing Charleston Ridge Apartments last year, there hadn’t been an apartment community built in Hanover County in nearly 20 years. Shaia hopes Hanover won ’t have to wait that long for its next batch of apartments. Shaia has proposed to build a five-building, 207- unit apartment community in Mechanicsville behind the Goodwill and Food Lion off Mechanicsville Turnpike. Shaia has requested that 20 acres in the area be rezoned to allow the project to move forward. The project has been dubbed Cambridge Square Apartments and will sit on a roughly 22-acre site that has wetlands that will be used for green space, Shaia said. Charleston Ridge wrapped up construction in 2016. Shaia is a developer with Charter Realty and Development Co., which developed Charter Creek Apartments in 1997. Shaia said that after Charleston Ridge finished , he knew he wanted to do another high- end apartment project in Mechanicsville where he saw a need for Cla...

"); } 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...

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...

NORFOLK Plans for the new five- story complex north of downtown, featuring shops and more than 200 apartments, were approved three years ago. Last year, the former headquarters of Hampton Roads Transit was demolished to make way. But the 2- acre lot remains nothing but a fenced-off patch of dirt. And a few weeks ago, for-sale signs went up near the fences where renderings used to hang. The developer behind the proposed $42 million complex at 1500 Monticello Ave., next door to Chick-fil-A, said the project isn’t dead – merely delayed by financing problems. “We think it’s still a great site and a great opportunity to do something there,” said Michael Haller, the executive vice president of Fairfax- based developer Concord Eastridge . “We love what’s going on with Norfolk. ... We’d love to be a part of it.” By the end of the year, he said, the company hopes to either partner with new investors or find a purchaser to step in and build the “shovel-ready” project. The pr...

NORFOLK Plans for the new five- story complex north of downtown, featuring shops and more than 200 apartments, were approved three years ago. Last year, the former headquarters of Hampton Roads Transit was demolished to make way. But the 2- acre lot remains nothing but a fenced-off patch of dirt. And a few weeks ago, for-sale signs went up near the fences where renderings used to hang. The developer behind the proposed $42 million complex at 1500 Monticello Ave., next door to Chick-fil-A, said the project isn’t dead – merely delayed by financing problems. “We think it’s still a great site and a great opportunity to do something there,” said Michael Haller, the executive vice president of Fairfax- based developer Concord Eastridge . “We love what’s going on with Norfolk. ... We’d love to be a part of it.” By the end of the year, he said, the company hopes to either partner with new investors or find a purchaser to step in and build the “shovel-ready” project. The pr...

Stacy Hunt of Greystar moderated the Houston Apartment Association ’s State of the Industry breakfast last week. Hunt is a former president of HAA and the Texas Apartment Association . HOUSTON – Houston’s multifamily industry will have a lackluster 2017 with upscale Class A properties as the weakest sector. That’s the word from the Houston Apartment Association ’s State of the Industry breakfast last week. The worst multifamily problem spots are Class A properties in Montrose, Downtown, the Galleria area and the Medical Center area , says Bruce McClenny of Apartment Data Services . Weak job growth , the energy downturn and heavy multifamily construction activity – some 58,000 apartment units were built over the last three years – created the weakness in Houston’s Class A market, McClenny says. “We still have too much supply,” McClenny says. Allied Orion Group will complete four multifamily communities this year, said COO Ian Douglas , but he’s encouraged by the fact that oil prices ...

Fourteen ROSS Communities Earn ApartmentRatings 's Top Rated Award" src="https://mma.prnewswire.com/media/270916/ross_companies_Logo.jpg" width="" height="" style="border: 0px;" /> BETHESDA, Md. , June 29, 2017 /PRNewswire/ ROSS Management Services , a leader in multifamily property management in the Mid-Atlantic region, today announced that ApartmentRatings.com has named 14 ROSS communities as Top Rated in 2016 for outstanding resident satisfaction scores . In order to qualify for the awards, the communities had to receive a recommend score of 70 percent or higher and be in the top 5 percent of communities listed on ApartmentRatings.com. ROSS's top scoring community was Spring Parc Apartments , which achieved a recommend score of 96 percent. Next was Overlook Apartments , which earned a score of 92 percent. "At ROSS, delivering a best-in- class customer experience for our residents is our number one priority," sai...