A recent post on CNNMoney.com claims apartment rents may soon rise by double digits in the hottest markets. And even in the rest of the country, rents may jump 7% in each of the next two years, according to Peggy Alford, CEO of Rent.com. She also predicts a national vacancy rate of 5% in 2012. [...]
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A year ago, many were predicting that 2009 would be the year when there would be a large rush of apartments coming to market at killer prices. Since that failed to materialize, the question remains: Why? After all, the financial news was pretty bleak. Banks were closing at a rate of more than two per [...]
Based on input from the lender, the general contractor, the property management team and others, Bishop Creek Apartments will consist of 144 total units in six buildings, including 12 studios, 36 1-bedrooms, 84 2-bedrooms, and 12 3-bedroom apartments. In addition, we will build 40 garages that will each rent for an additional $100 per month. [...]
REITs and large developers are once again entering the multifamily market in select markets. According to Village Green Cos. CEO and chairman Jonathan Holtzman, “The banks are open for business for the right borrower with the right project in the right submarket.” His group recently broke ground on a 175-unit mixed-use project in Minneapolis. It’s [...]
Here are the latest architect’s renderings of our Surf City apartment project, Bishop Creek Apartments. The six residential buildings are all 3 story garden style walk-ups with breezeways, as illustrated. Be sure to see our latest update on this project here.
