Envy Apartment

OpenPath Investments, triple bottom-line company with more than a decade of experience creating value for its investors, announced on Wednesday that it has purchased Ventana Palms Apartments , located in west Phoenix, for $8.5 million, kickstarting an effort to bring a socially responsible investing and property management model to the working- class housing complex in the Maryvale neighborhood. OpenPath’s acquisition includes approximately $3.6 million in equity financing from socially conscious investors who support the firm’s Urban Village community concept and its environmentally friendly investment model . The Urban Village concept calls for investments in community-building efforts for apartment residents , including tools, inspiration and ideas to enrich their community life — from community gardens, to educational classes and leadership development. OpenPath also intends to invest approximately $1.5 million in interior and exterior upgrades at Ventana Palms. The 10-buildi...

See more of the story Fifty-five years ago this month, the Sons of Norway dedicated a new international headquarters in the Uptown neighborhood of Minneapolis. Now, they're selling it to be torn down. Ryan Companies and Weidner Apartment Homes will purchase the building and its city block, on Lake Street between Holmes and Humboldt avenues, from the organization of descendants of Norwegian immigrants. They plan to demolish the building and redevelop the site, though plans are still forming. A Ryan executive attended a neighborhood meeting Monday night to get feedback from neighbors before polishing up their ideas. "We're going to really pay attention to the context and really listen to the stakeholders," said Tony Barranco, vice president of real estate development for Ryan. He said he expects there will be more than one new building on the block and a mix of residential, commercial and retail uses. The final shape, massing and composition of the buildings will b...