Apartment Look

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...

GARNER | The Garner City Council is hoping a new 10- unit apartment project will reduce the gap in the city’s housing market. At its Tuesday, Aug. 22, meeting, the council will consider accepting a proposal received from Echo Development Group of Cedar Falls earlier this month for the construction and operation of a $1.2 million 10- unit apartment building at 895 W. Eighth St. in Garner earlier this month. “We’re excited about it,” said Randy Lansing, Garner city administrator . According to Echo Development Group ’s proposal, the building will feature four three-bedroom apartments and six two-bedroom apartments. Each apartment will have a garage, a laundry room and 2½ bathrooms. The proposal, which was submitted during the city’s request for proposals period between June 15 and Aug. 3, was the only one it received, despite its incentives to attract developers. In June, the city of Garner began searching for “an experienced multi- family housing developer or operator” to partne...

THUNDER BAY -- Construction of new housing units on the city's north side is proceeding at a brisk pace this summer. No fewer than seven separate projects are either already completed or on the drawing board. The newest development, now under construction, is a 24- unit apartment building on Royston Court, between the former provincial land registry office and HMCS Griffin Naval Reserve . Red River Holdings is the developer. City hall has also received an application for a building permit to convert the old land registry office to an 8- unit apartment building . The location of the two projects is less than a block north of the former Superior Court of Justice on Camelot Street, which a Toronto developer plans to convert to a hotel. The application for a building permit is expected to be submitted soon. Elsewhere in the north core, Syncor Contracting is working on the third of three 12- unit apartment buildings...

Finance & Accounting By REW •   April 26, 2017 Eastern Union Funding arranged the following transactions: A $36.9 million first lien mortgage for the acquisition of an 11- building multifamily portfolio in Bronx, NY. This transaction was arranged by Jonathan Singer and David Metzger. A $10,500,000 first lien mortgage for the acquisition of a 197- unit multifamily in Pennsville, NJ. This transaction was arranged by David Singer. A $5,000,000 first lien mortgage for the refinance of a 61- unit multifamily on 40th St. in Sunnyside, NY. This transaction was arranged by Michael Muller. A $2,200,000 first lien mortgage for the acquisition of a 6, 800 sf industrial property on Route 114 in East Hampton, NY. This transaction was arranged by Marc Tropp. A $1,450,000 first lien mortgage for the refinance of a 3- unit multifamily on South Lakeshore Dr . in Browns Mills, NJ. This transaction was arranged by Jeffrey Seidenfeld and Jonathan Singer. ••• Meridian Capital announced t...

Matt Boys recently bought a dilapidated triplex near Charles and Snelling avenues in St. Paul with the goal of leasing out one apartment the traditional way and listing two others through the short- term rental platform Airbnb . Given the ongoing construction of a Major League Soccer stadium down the street, the Airbnb opportunity justified the $40,000 renovation, said Boys, noting he might not have taken the chance otherwise. Likewise, not all the apartments at the Lowry Building on downtown St. Paul’s Wabasha Street are available for lease year-round or even month-to-month. Building owner Madison Equities rents out at least seven units through Airbnb, and a handful of year-round tenants have taken to doing the same. As a result, visitors to downtown St. Paul can spend a night or two at the Lowry relaxing in a more residential setting than the typical hotel. But soon both properties may be out of step with the law in St. Paul. On Friday, the St. Paul Planning Commission voted 11...

Curbed Horror Stories are firsthand reader reports about terrible Greater Boston apartment experiences past and present. This week, in honor of Renters Week 2015 , we're having a rental horror story showdown across all Curbed sites, with the winner receiving a staycation. Up now: a desperate quest to avoid picking another roommate from Craigslist. I don't think there is very much that can beat the story that was posted about the girls who were victims of a bait-and-switch but here goes my rental experience . It was 2009 and I needed to move out of the two-bedroom I had rented with a Craigslist roommate as it had quickly become an all-around bad situation. I knew I didn't want a new roommate but had a modest budget for a one-bedroom or studio with an open concept so the search began. The first place I saw was in a great location but once inside the building we literally could not find the unit. We searched and searched and even asked a current tenant if they knew whe...

Nearly every day, Kristen Bass travels to the Park Meridian apartments in Northgate, seeking reassurance that important pieces of her life are still intact. The 30- unit apartment building where she lived for 18 months was badly damaged in an Aug. 5 fire, leaving Bass and about 70 other tenants searching for new homes while the insurance company documents the extent of the damage, and the landlord makes plans for the building’s demolition. Bass is certain that irreplaceable belongings survived the fire — her family photos, childhood mementos, and a box of her late sister’s belongings that she can’t talk about without breaking into tears. But she can’t retrieve them from the fenced and partially boarded-up building because the landlord says it’s not safe to let her back inside. Most Read Stories Unlimited Digital Access. $1 for 4 weeks. “We are so grateful no one got hurt,’’ building owner A. Mark Vanderveen said in an interview Monday. “The last thing I want to do is put someone ...

GARDINER — Fire heavily damaged a two- story apartment building at 33 Spring St. in Gardiner Tuesday , leaving about eight people homeless. No one was injured in the blaze that was reported around 10:12 a.m. and appeared to originate on the first floor. By 11 a.m., firefighters from Gardiner and multiple surrounding communities had knocked down the bulk of the fire, but they continued to look for hot spots for more than an hour after that, removing sections of the building to do so. “It’s a terrible loss,” said Sharon Geroux, one of the building’s co-owners. Choking up, she continued, “The building was not even the biggest loss. My cat’s dead, I’m sure. I couldn’t get her out of there. There was so much smoke.” Two families were living the complex, which included four apartment units and a beauty salon that was operated by Geroux, 56. Sharon Geroux lived in one of the first-floor units with her 59-year-old husband, Richard Geroux. Her 80-year-old mother lived in a separate unit and...

California real estate investment firm rebrands and repositions 1960s- era apartment community with modern amenities and boutique hotel feel, increasing value by 89% Calvera Partners , a California- based private real estate investment firm , today sold pksl (pronounced “pixel”), a 37-unit apartment building located at 1090 Sunnyvale Saratoga Rd. in Sunnyvale, CA, for $15.7 million ($424,000 per unit), an 89% increase over the building’s acquisition price of $8.325 million in January 2014. Home base to the original tech darlings Atari , AMD and Yahoo, the pksl project was the transformation of a 1960s- era apartment complex , formerly known as Crestview Terrace. With a mission to reposition underperforming properties with creative and authentic brands, high value tenant amenities , and modern design, pksl underwent a major transformation. “This community underwent the most significant physical change of any property we’ve owned,” said David Saxe, managing principal at Calver...

LANSDALE >> Plans for a six- story apartment building on the corner of Third and Walnut streets have been revised again, and Lansdale officials look likely to be asked to approve several waivers for the project. Developer Ross Ziegler and architect Mike Rosen presented the latest version of those plans Monday night , describing changes including a new fence next to a dog park meant to buffer the building from its next door neighbors on Third Street. “In terms of both the fence and the dog park, we’d be open to discussions, certainly, to explore what would be more desirable, or how we can come up with solutions that might make more sense,” said Rosen. “We really want to encourage the concept of pet ownership, and taking care of their pets. And we clearly have been sensitive to the neighbor issue, and we will deal with it,” he said. The proposed Third and Walnut apartment building — termed “Walnut Crossing” on the plans — has been discussed since late 2015 by various borough b...

GUILDERLAND — Early Sunday morning, software programmer Premjeet Sougrakpam was at home, sleeping in his Regency Park apartment , as were his wife, her mother, and the couple’s two sons — one of them three years old and the other born just five days earlier.  They were awakened by a loud bang at about 4:30 a.m. When they ran to a back window to see if something was wrong, they saw flames outside, near their patio. Sougrakpam reached for a phone and called 911, while the women each grabbed one of the children. They made their way outside, where residents from the other nearby apartments were also gathering.  “I came barefooted, just the pajama, and the phone I had used to dial 911,” said Sougrakpam.  There was no time to get anything else, not even car keys or passports, he said. The Sougrakpams lived in Building 1 of the complex at 2120 Western Ave. There were six apartments in their building. Sougrakpam told The Enterprise that he is currently in a local hotel; his family — includin...

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...

CLOSE North Korea threat; Fatal Rehoboth Beach house fire ; Bruce Springsteen on Broadway 8/10/17 1303 Delaware Avenue was purchased by Capano Management . (Photo: Courtesy of Capano Management ) Capano Management continues to bolster its residential portfolio with the acquisition of 1303 Delaware Apartment Homes in Wilmington's fashionable Trolley Square neighborhood . A sales price was not disclosed. Capano financed the purchase with a fixed-rate loan from Fannie Mae.  The privately-held Wilmington-based developer's multifamily division, Capano Residential , purchased the 231- unit high rise from Merion Realty Partners , a Wynnewood, Pennsylvania, real estate investment firm . Jeffrey Shumaker, vice president responsible for Merion's multifamily division, declined to comment on the transaction. "That's not public information," Shumaker said of the sale.  Upon acquisition, Capano Residential , which is headed by Louis J. Capano, renamed the property Par...