$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...
Leaning tower of San Francisco
A luxury high-rise in the heart of San Francisco City has been dubbed the “leaning tower of San Francisco” after the building began to sink—and satellite images have now revealed just how bad the...
15 Years in the pipeline
Cranes are on the horizon in San Francisco in a most unlikely place, South of Market’s (SoMa) Harrison Street. The area with a most lively history is one of the last to relent to...
Gunfight at the Airbnb coral
That means Airbnb and others must stick to advertising San Francisco hosts who have registered with the city and haven’t exceeded the number of nights they’re allowed to rent. The penalty? Platforms can be...
When will affordable housing advocates push for more supply and fewer rules?
The lack of market rate supply contributes to high prices that puts market rate housing out of reach, and as long as that problem goes unaddressed, more and more subsidies will need to be...
