Construction Maison

It’s been only two months since the Portland Housing Authority opened Bayside Anchor , its first new housing development in decades. But already, the low- income housing provider is poised to file plans for two additional projects , totaling more than 155 units of housing at a time when a dearth of affordable housing in Maine’s largest city is reaching crisis levels . “This is the continuation of our effort to be a part of the solution to the affordable housing crisis in Portland,” said Jay Waterman, the housing authority ’s development director. The authority is looking to build a 55- unit apartment building at 58 Boyd St. in the city’s East Bayside neighborhood . The site is practically across the street from Bayside Anchor , a highly energy- efficient PHA apartment building at 81 Oxford St. with 45 units that opened in June. A public meeting about the East Bayside proposal has been scheduled for Monday, from 6:30 p.m. to 8 p.m., at 47 Smith St. Meanwhile, about 2 miles away, t...

Dream Development won attention — and the right to develop a city-owned parcel — thanks to its innovative housing design . The newly-formed, black- owned development team beat out nearly a half-dozen competitors for the opportunity to build on 24 Westminster Avenue in Roxbury. One compelling feature that helped turn the tides in Dream Development ’s favor is that the design plan is suited to accommodate changing family sizes , giving residents the ability to reconfigure their units as they have children, and reconfigure again once the children leave the nest or should older in-laws wish to move in. The team’s design is also easily shrinkable or scalable, allowing it to be replicated on parcels of varying sizes. A jury of community members, architects, contractors, city planners and other officials selected Dream Development as the winner of its first-ever Housing Innovation Competition , which is aimed at pioneering ways of reducing building costs to make more units of housing avai...

The California legislature is responding to spiking Bay Area rents by moving bills that would force cities to loosen restrictive land use rules that have impoverished renters and created massive profits for apartment owners. Year-over- year apartment rents at the end of March 2016 were falling hard in the Bay Area, with annual percentage decreases of 15% in Redwood City, 13% in Santa Clara, 8% in Palo Alto, and 5% in Oakland. But prices stabilized after the election of President Donald Trump ignited a new technology stock price boom , and have recently begun to take off and spike to new all-time-highs over the last 12 months. But the most recent Zumber survey found that Bay Area one- bedroom apartment rents rose by 2 percent in July. San Francisco  has the most expensive rent in the state at $3,450, followed by Mountain View at $3,060, and Redwood City at $2,970. The least expensive area rents were Vallejo at $1,270, followed by Napa at $1,540, and Santa Rosa at $1,550. The fear...

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...

Standard Chartered Bank's global real estate head , Mark Ebbinghaus , has gained approval for a 20- storey residential tower in his hometown of Adelaide.  Construction on the $70 million project at the corner of Rundle Street and East Terrace is expected to start late next year after it meets its 50 per cent pre-sales target.   "This is one of the most important residential development sites in the city and will be a fundamental feature of the East End, underpinned by its integrated and sensitive design," said Mr Ebbinghaus, who assisted Frasers Centrepoint on its successful $2.6 billion bid for Australand in 2014. "We have received strong inbound interest levels in the apartments at this gateway site to the city and kick starting this project is a significant vote of confidence in Adelaide." apartment tower is due to start by late next year, subject to meeting the 50 per cent presales ..." width="620" class="lazy620x0" src="s...

Two years ago, developer Mike Harrah joined a bid to purchase the Orange County Register out of bankruptcy. The effort ultimately failed . But the flamboyant local construction magnate with a ZZ Top beard still acquired the Register’s Santa Ana real estate , currently vacant after the publication decamped to Anaheim this spring. With the Register gone, Harrah is now embarking on an ambitious $1-billion plan for the 20- acre Grand Avenue site , proposing to build Orange County ’s tallest buildings, more than 1,000 residences, a 171-room hotel, offices and retail shops. In all, Harrah’s Caribou Industries envisions a 2.3-million-square- foot development known as 625IVE that serves as a gateway to historic downtown Santa Ana , where hip restaurants and shops are opening just a mile away. And he’s signed up prominent architecture firm Gensler to work on it. Harrah, himself, has been credited with helping kick-start the revitalization early last decade after he acquired buildings in t...

Address: 7600-44 Pillsbury Av. S., Richfield Type: Senior housing Units: 88 Developers: Mesaba Capital Development , Roers Investments Architect: Kaas Wilson Architects Details: Ground was broken this week for Havenwood of Richfield, an 88- unit senior housing project on the former site of the Richfield Public Works garage . When the city opened a new garage in 2007, it studied new uses for the 3.3-acre site. It determined high- density housing affordable for low- and middle-income families and/or seniors would be best. Edina- based senior housing builder Mesaba Capital Development first approached city with plans for the block in 2015 and received site plan approvals in March 2016. In the interim, Richfield provided a $2.2 million “pay-as-you-go” TIF package, under which the amount of the higher property taxes generated by the site improvements will be refunded to developer over a period of several years. The plans call for 60 assisted living units and 28 memory care units . Th...

Another 250 new homes and a new “village centre” have been approved for a garden city in Kent. The proposals for Ebbsfleet, between Gravesend and Dartford, also feature a supermarket and space for a cafe takeaways and small businesses in the centre of the area known as Castle Hill. The plans put forward by developer Newcrest were approved by the Ebbsfleet Development Corporation , which oversees planning for the area, on Wednesday night. future village centre at Castle Hill" alt="The future village centre at Castle Hill" /> The future village centre at Castle Hill Social housing provider Clarion was given permission for a further 37 houses and 31 apartments in Castle Hill, all of which will be shared ownership. The approvals continue towards the government’s target of 6,250 homes to be built in three villages in the huge Eastern Quarry near Bluewater. The corporation’s interim cheif executive Paul Spooner said: “It’s good to see another 250 homes being ...

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- ...

Merger will create leading Greater NYC Metro regional bank with $29 Billion in Assets MONTEBELLO, N.Y. and LAKE SUCCESS, N.Y., Aug. 16, 2017 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE:STL), the holding company for Sterling National Bank and Astoria Financial Corporation (NYSE:AF), the holding company for Astoria Bank, announced today that the Office of the Comptroller of the Currency (“ OCC ”) has approved the merger of Astoria with and into Sterling (the “ Merger ”).  The transaction, which was announced March 7, 2017 and approved by the shareholders of Astoria Financial Corporation and Sterling Bancorp on June 13, 2017, remains subject to other customary closing conditions , including the approval of the Board of Governors of the Federal Reserve System .  Assuming such conditions are satisfied, Sterling Bancorp and Astoria Financial Corporation expect to complete the Merger early in the fourth calendar quarter of 2017. /EIN News/ -- About Sterling Bancorp Sterling Bancorp , who...