Apartment Look

Developer National Resources has for several years been studying different office, retail and residential schemes for an underused corporate campus designed in the 1960s for International Business Machines Corp. in East Fishkill, N.Y. But now, as National Resources moves to close on a deal to buy a 300-acre site, the Greenwich, Conn.- based developer is recognizing that housing has got to be a central component of the plan. Firm principals Lynne Ward and Joseph Cotter recognize low rents are the best way to lure millennials and others away from New York City, about a 90-minute drive away. National Resources is paying an undisclosed price for the land from California- based semiconductor company Globalfoundries , which purchased IBM’s semiconductor business in 2015 and still runs a slimmed down operation at the East Fishkill site that employs around 1,700 workers. Related Articles Over the next five years National Resources plans to introduce efficiently sized apartments cu...

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...

A new Kroger supermarket on the edge of Dallas' Arts District will offer more than groceries. The supermarket chain plans for its new store to be part of a mixed-use development that includes hundreds of new apartments. Kroger last year purchased a block of land on Hall Street between Ross Avenue and North Central Expressway . It's just across the highway from downtown and in an area that's seeing rapid redevelopment. Early this year Kroger filed plans with the City of Dallas to build just a supermarket and surface parking on the site. But now the grocery giant has teamed up with a local apartment builder and wants to include 375 apartments with the project. The development designed by Dallas architect GFF would have four stories of rental units on top of a 2- level Kroger store , plans for the project show. Dallas- based apartment builder Trinsic Residential Group would build the rental units on top of the grocery store and parking garage at Hall and Flora streets. ...

GRAND RAPIDS, MI - There's still a lot of concrete to be poured and drywall to be painted, but progress is being made on two of the city's largest apartment construction projects . Rockford Construction Co. and Wolverine Building Group handed out hardhats and safety vests to reporters on Wednesday, Aug. 23, so they could show off the progress they are making on projects along Market Avenue SW and in the Midtown Neighborhood along the Medical Mile.. At 234 Market Avenue SW , Rockford Construction is past the halfway point in building an apartment complex that will include 235 rental units , a 300- car parking ramp and ground floor retail space The property sits just west of a $60 million expansion of Founders Brewing Co. and across Market Avenue from 19 acres of riverfront property used by city public works departments . The city-owned land is on the market as a prime site for future development. Project manager Dan Korcek said they are on schedule to complete the $44 mil...

Mountain View's rent- control program has already survived political and legal trials -- but what about the business test? An increasing number of apartment owners appear to be cashing out rather than working under the new restrictions. If the trend continues, some say it will lead to a cascade of redevelopment spearheaded by large corporate buyers . This scenario would result in older apartments being phased out and replaced with new housing that is exempt from rent control. Those looking at the data with a more critical eye point out that sales of apartment buildings are up throughout the South Bay, and that the number of buyers indicates a healthy interest in investing in Mountain View housing , regardless of rent control. To take one example, Fremont residents Ann and Paul Lethers decided in June to sell their 18-unit complex on Del Medio Avenue in Mountain View, which they created from separate purchases of two adjacent nine-unit buildings. They say they h...

Kushner Companies hit with rent-stabilization lawsuit in Brooklyn Heights "Ignorance, indifference or utter disregard of the law." From left: Jared Kushner, Laurent Morali and 89 Hicks Street (Credit: Getty Images, CUNY TV and Google Maps) Kushner Companies violated rent -stabilization laws at a building the company owns in Brooklyn Heights , a new lawsuit alleges. The lawsuit, which seeks class action status , comes at a time when the company is already facing scrutiny over its ownership and management of a massive multifamily portfolio with hundreds of rent-stabilized units across the city, and puts a further spotlight on Jared Kushner, the former CEO of the firm and top White House adviser who continues to hold a stake in the Brooklyn Heights property . For years, the 48- unit apartment building at 89 Hicks Street was a servant to institutions. It was first converted to religious housing for the Jehovah’s Witnesses in 1989, and later became a dorm for Brooklyn Law Schoo...

Council Member Laurie Cumbo (@cmlauriecumbo) Hundreds of Crown Heights residents and community activists laughed and jeered at a recent community forum as a lanky man wearing a paper mask of Mayor Bill de Blasio joked about bringing affordable housing to their neighborhood. The event was punctuated by moments of levity but mostly dominated by anger from residents who feel their elected representatives have sold out their interests to the real estate industry , with a focus on the proposed redevelopment of the vacant Bedford Union Armory . The de Blasio administration , with a developer, is proposing a combination of affordable and market rate rental apartments , condominium units, and recreation space for the massive site. City Council Member Laurie Cumbo , who represents the district, did not attend the August 2 forum focused on the project -- she was just days from giving birth to a son -- and when representatives of her office tried to speak, they were shouted down. The ev...