Apartment Look

Lack of pet-friendly homes to buy or rent By John McGrath The shift towards apartment living coupled with one of the highest pet ownership rates in the world has created a problem in the Australian property market – a lack of pet-friendly homes to buy or rent.  It is standard practice in most strata schemes for body corporates to disallow pets among owners and tenants. This wasn’t a big problem in the past when affordability was less of a strain and pet owners in major cities could afford to buy or rent a house. But today, with more of us living in apartments due to affordability or circumstance (such as living alone or as couples without kids – both growing trends), apartment living is on the rise and things are getting difficult for pet owners. Last year, industry body released a comprehensive report on pet ownership in Australia. It described the rise of higher-density living in major urban areas as “the biggest current threat to pet ownership in Australia – p...

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...

Six years ago, Mike Brown and Casey Lynch stood on Downtown Boise ’s 8th Street and wondered: Why don’t more people live here? Downtown seemed to have everything that a growing percentage of Americans wanted in a place to live. “I mean, there’s all kinds of jobs. There’s a million coffee shops and hair salons and restaurants, and there’s an active street life ,” says Brown, who founded the Los Angeles- based development company LocalConstruct with Lynch in 2008. Casey Lynch, left, and Mike Brown have made their mark in Boise. Provided by LocalConstruct But in 2011, fewer than 4,000 people lived in Downtown’s scattered apartment and condominium buildings and houses. On a typical weekday afternoon , most Downtown workers got in their cars and put the city in the rearview mirror. Brown and Lynch saw an opportunity. They thought Boiseans would trade ample floor space and vaulted ceilings in the suburbs for smaller, high- end Downtown apartments that offered amenities like gyms, a do...

The long retail spine of Sydney Road, Brunswick, just north of Melbourne's CBD, was once a prosperous trading outpost on the way to the goldfields. These days it's a bohemian mix of variety stores, op shops, halal butchers and Lebanese bakeries. Take a side street to the west, however, and a different picture emerges. Sandwiched between Sydney Road and the Upfield train line is an area undergoing rapid and widespread transformation. Light industry is fast being replaced by mid- rise apartment buildings , their inhabitants attracted by the short commute into town and cheaper prices than in the city's south-east. The quality of these units is, on the whole, depressingly bad; think poor ventilation and bedrooms that "borrow" natural light (a weasel word for being dark and windowless). The occasional jazzy façade tries feebly to make up for otherwise cheap construction amid a chorus of greys. At ground level, carpark roller doors alternate with mean pocket garden...