Solar: At what cost?
Finding cheaper sources of power is a no-brainer in any circle. Many in the solar business have learned that to get communities, investors and utilities on board, the conversation must center on economics. And so...
$20.5 million buys Tucson value-add multifamily asset
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of River Oaks Apartments, a 300-unit apartment complex in Tucson, Arizona. The $20.5 million sales price equates to $68,333 per unit. “The...
California’s answer to its housing crisis
With high demand on top of inadequate supply, the meaning of “affordable” in the most desirable locations can be difficult to gauge. According to the U.S. Department of Housing and Urban Development (HUD) definition,...
Rent control raises housing costs
A new paper analyzes the effects of rent control expansion in the city and finds that it reduced rental housing supply, causing a city wide-rent increase. People are understandably worried about the cost of living,...
$110 million multifamily asset in Phoenix sold by IPA
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of Red Mountain Villas, a 768-unit apartment complex in Phoenix. The $110 million sales price equates to $143,229 per unit. The...
From mall to ecosystem
Construction has started on a 23-story upscale apartment tower at Westfield UTC, a one-million-sq.-ft. outdoor center in San Diego, but the project is much more than the redevelopment of an upscale retail center owned...
Investor’s latest sweetheart: workforce housing
There is expected demand for an additional 4.5 million new apartments in the U.S. by 2030, according to data from the Workforce Housing Committee of the National Multifamily Housing Council, Washington. What’s more, deal activity...
Is rising rent a myth? For many, incomes seem to be keeping up.
Most people paying attention to the cost of renting an apartment in the U.S. would tell you that prices have gotten out of hand. That’s certainly true at the extremes where, say, the typical two-bedroom...
A gem regains its luster and a city gains apartments
On a plot of land between Immanuel Presbyterian Church, now listed as a Los Angeles Historic-Cultural Monument, and the Ambassador Hotel, home of the Coconut Grove nightclub and host of the 1930 Academy Awards,...
The high cost of incivility
The nasty looks and belittling comments reached a point at law firm Bryan Cave, in Irvine, Calif., that the partners held a civility workshop. Managing partner Stuart Price says working together toward a common goal...
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...
Regulation nation
A lawyer for Duarte Nursery said the case is important because it could set a precedent requiring other farmers to obtain costly, time-consuming permits just to plow their fields. “The case is the first time...
The ever-prescient landlord
In August 2016, Seattle, Wash., a city where the U.S. Census bureau estimates that 48 percent of the population are renters, the city council revised its open housing ordinance to include “first-in-time, first-in-line” provisions....
The unexpected solution to America’s affordable housing crunch: the urban movement
The ones currently doing the kicking are the YIMBYs, a loosely allied collection of pro-development housing advocates whose name plays on the acronym NIMBY (“Not In My Backyard”), replacing the “Not” with an emphatic...
Welcome to paradise
Anant Yardi faced such a dilemma in the early 80s while living in Santa Barbara, Calif., where he worked as a software developer for Burroughs, a business equipment manufacturer (Burroughs merged with Sperry Univac...
