Apartment Look

BOSTON (AP) — Massachusetts’ booming economy is bringing with it a downside for those looking to rent an apartment or buy a home in the state: soaring housing costs , particularly in the greater Boston area . The problem isn’t new, but it’s more acute in places where the economy has taken off, spurred by a surge in the life sciences sector and the arrival of top companies like General Electric to the state. That upward pressure is one reason why Beacon Hill leaders are continuing to look for ways to create new affordable housing units while preserving existing units . Gov. Charlie Baker this week announced $72 million in housing subsidy funds and additional state and federal tax credits to 25 projects across the state. The goal is to help create, refurbish and preserve 1, 970 housing units , including units reserved for low- income families and families making their way out of homelessness. Advertisement “Safe and affordable housing is a cornerstone to the success of our commo...

The Bay State’s booming economy is bringing with it a downside for those looking to rent an apartment or buy a home in the state: soaring housing costs , particularly in Greater Boston. The problem isn’t new, but it’s more acute in places where the economy has taken off, spurred by a surge in the life sciences sector and the arrival of top companies like General Electric. That upward pressure is one reason why Beacon Hill leaders are continuing to look for ways to create new affordable housing units while preserving existing units . Gov. Charlie Baker this week announced $72 million in housing subsidy funds and additional state and federal tax credits to 25 projects across the state. The goal is to help create, refurbish and preserve 1, 970 housing units , including units reserved for low- income families and families making their way out of homelessness. “Safe and affordable housing is a cornerstone to the success of our commonwealth’s families, including access to job opportu...

Gebroe-Hammer Associates Coveted apartment  complex fetches $40M An apartment community in tony West Orange , NJ,  has been sold for $40.5 million. Gebroe- Hammer Associates brokered the sale of the 178- unit Crest Ridge Apartments complex . The team of Greg Pine and Adam Zweibel exclusively represented the original developer , Rockledge Realty, LLC, and procured the buyer, Sela Realty Investments , in the transaction. Located at 200 Mt. Pleasant Ave. at the base of an 80 ft. cliff, the 16-building, historically well- occupied complex posed an extremely rare acquisition opportunity within the Northern New Jersey metro. “Situated in the Town Center section of West Orange, Crest Ridge Apartments is at the heart of one of the most expensive, in- demand local neighborhoods as well as the transit- filled greater West Essex County submarket ,” said Pine. “In a township where apartment rentals make up only about one-third of the housing stock, Crest Ridge Apartments is a gem favored...