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...

Vanguard Group is fast becoming a dominant investor in the U.S. real estate industry . Securities and Exchange Commission reports compiled by Bloomberg show that the company’s mutual funds and exchange-traded funds are now the leading owners of real estate investment trusts (REITs), the tax- protected investor funds that own many of the nation’s offices, shopping centers, apartments, hotels, warehouses, and data and storage centers. Including its indexed stock and REIT-focused funds, Malvern- based Vanguard owns 18 percent of Host Hotels & Resorts, whose portfolio includes Ritz -Carlton, Marriott, and Westin hotels; 15 percent of Simon Property Group , the national mall owner that counts King of Prussia Mall among its holdings; and a similar share of Prologis, the warehouse giant. Locally, Vanguard funds control 16 percent each of Brandywine Realty Trust , which owns a majority of Center City’s highest buildings; Liberty Property Trust ...

Known for strip malls and shopping centers and rows of single-family homes, the Valley is often thought of as somehow separate from Los Angeles—though most of its communities have been part of the city for over 100 years. But that perception may start to slip away as new transit options and LA’s rising cost of living draw in new residents and development dollars. In advance of some of these changes, we caught up with several active community members in the Valley to get their take on the region’s future. Here’s what we learned: Don’t call it a suburb The Valley may not be as dense as Downtown LA or Koreatown—nor as walkable—but it’s still plenty urban. “If the Valley is a suburb, I don’t know what you’d call Santa Clarita or Simi Valley or the Thousand Oaks area ,” says lifelong Valley resident Zachary Rynew , who founded the CiclaValley blog to promote bicycling events in the area and advocate for better bike infrastructure . Yvette Lopez-Ledesma, deputy director of Pacoima Beaut...