Apartment Look

Section of rendering by architect Stephen Jacobs . A proposed five-story mixed use building with 116 apartments and ground-floor restaurant and retail uses on East Main Street and McDermott Avenue won approval of the Riverhead Town Board Tuesday night . In a split 3-1 vote, the board approved a pair of resolutions that simultaneously dispensed with extended environmental review and approved a site plan and special permit for the “ Riverview Lofts ” project proposed by Georgica Green Ventures LLC of Jericho. The actions green-light the construction of the five-story building with 12,623 square feet of first- floor commercial space , 55 on- site parking spaces and four-stories consisting of 116 workforce rental apartments : 31 studio, 37 one-bedroom and 28 two-bedroom units. Councilman Tim Hubbard , without comment, cast the lone vote against both measures. Councilwoman Jodi Giglio , an owner of Summerwind Square — the first mixed-use apartment building built in the downtown dis...

When it comes to condominium development , Cascadia’s two largest cities couldn ’t be more different. Last year nearly 60 percent of new housing starts in the city of Vancouver, BC , were condominiums; meanwhile, Seattle saw no new condominium buildings open . And that’s not changing anytime soon: less than 10 percent of all building slated for downtown Seattle in the next three years will be condos. What’s the difference—why the blossoming of condominium construction in one city and the almost complete dearth in the other? The short answer is economics. In Vancouver, apartments are saddled with an unfavorable tax code , making condos the more lucrative multi- family housing investment even despite high rental demand . In Seattle’s skyrocketing rental market , one that’s climbed even faster than the condo market in recent years, apartment buildings are much more financially attractive, while condos come with bigger risks and, typically, lower returns. Compounding this profit differe...

08/25/2017 08:02 AM EDT By Rebecca Morin ( rmorin@politico.com ; @RebeccaMorin_) and Charlie Mahtesian ( cmahtesian@politico.com ; @PoliticoCharlie) TGIF, MASSACHUSETTS. Mostly cloudy with a high of 73 today. Story Continued Below I'm Rebecca Morin and I'm filling in along with Charlie Mahtesian this week while Lauren is on vacation in Minnesota. This is our last day, but Lauren will be back Sept. 5. WARREN'S NEXT TOWN HALL: Sen. Elizabeth Warren is heading to Rep. Niki Tsongas' district on Friday for a town hall in Concord, her 13th town hall of the year. The 3rd District isn ’t exactly Warren Country: The senator lost the district narrowly in 2012, Gov. Charlie Baker carried it in 2014 and so did Republican Senate candidate Gabriel Gomez in 2013. It's home to a rare open- seat congressional race in 2018, now that Tsongas has announced she will not seek reelection. Tsongas and Warren are allies: Tsongas was the first major political player to endorse Warre...