Why millennials are (partly) to blame for the housing shortage
The rush of young people to U.S. cities over the past few years is partly to blame for America’s worsening housing shortage. In some of the country’s largest and most prosperous markets, such as New...
Uptown living, downtown budget
“I would say it’s the most social building I’ve ever seen,” said Daniel Ellch, a tenant. That’s by design: The developer, Property Markets Group (PMG), is entering the co-living market, offering slightly smaller private...
In the lap of luxury
Atlanta-based Catalyst Development Partners recently opened Helios Apartments, a 282-unit community, also in Atlanta. “Helios Apartments evolved out of a desire to provide in-town residents with ultra-high-end amenities and technological perks that rise above the...
Doing the right thing
Former U.S. Department of Housing and Urban Development Secretary Julian Castro, U.S. Secretary of Veterans Affairs Robert A. McDonald and District of Columbia Mayor Muriel Bowser joined advocates and housing professionals to officially open...
Solving the affordable housing puzzle
But inside Brooklyn’s 461 Dean—the world’s tallest modular building—half of the 363 rental apartments fall well below market rate. One-bedrooms, which range from 578- to 735-sq.-ft., start at $600 a month. Developed by N.Y.-based Forest...
Everything’s brand new in… D.C.?
The code now permits light-framed buildings of wood or steel, which are often faster and less expensive to build than equivalent heavy-framed structures, to reach eight stories and up to 85-ft. high—just shy of...
Riding out the storm in D.C.
“I love D.C.,” said Camden Property Trust CEO Ric Campo during the apartment REIT’s second quarter earnings conference call at the beginning of August. “That’s why we have a big concentration there,” he said of...
D.C. dysfunction
While AvalonBay Communities' portfolio in the nation's capital achieved positive revenue growth and rent growth in Q3, revenue growth from the company's D.C. Metro portfolio was up about one percent year-to-date, but turned flat...
Residents only
In Key Biscayne, Fla., Oceana Key Biscayne is constructing a private restaurant with globally-inspired cuisine that's dedicated to the buyers of its units priced from $2 million to $19 million. Another going up within...
Rise of the rental
The project, developed by Miami-based Melo Group, exemplifies a new generation of professionally-managed rental apartments emerging in South Florida. After a long drought in rental construction and the loss of thousands of rental units to...
Cut from the same fabric
The Loray Mill, which for decades produced fabric for car tires, in April began a $40 million conversion project that will create 190 apartments in its six stories, as well as several floors of...
Apartment hot spot: Florida
Wimberly at Deerwood, Preserve at Cedar River, Bridgewater at Wells Crossing, Mariner's Wharf, Country Club Lakes, Water's Edge. Those are just some of the Jacksonville-area apartments that have changed hands in the past two months...
Asking tenants to spend the night
"The 520,000 square foot, 34 story structure will be converted to 445 for-lease residences," according to Metropolitan Partnership Ltd., the Reston, Va., development firm that purchased the building in November for $6 million. Ten Light...
All roads lead to the beach
The award-winning architecture of the buildings in Alys Beach has its roots in the master planning of new urbanism pioneer Duany Plater-Zyberk & Company (DPZ). Designed for walkability, interaction and environmental-efficiency, the roads and...
Two heads are better than one
But prior to launching the company, the industry experts found themselves competing with each other in a tough environment where developers battle it out for a limited number of opportunities. Proffitt served as development executive...
