Envy Apartment

The realty group beat out more than 20 offers to secure the 294-unit complex on Hickory Creek Drive . A local buyer has picked up nearly 300 apartments in Henrico, where two other decades-old rental communities are under contract. McCann Realty Partners beat out nearly two dozen local and out-of-town offers on Hickory Creek, a 294-unit, 32-year-old complex of one- and two-bedroom apartments at 2344 Hickory Creek Drive . The Henrico-based firm, based less than a mile away, purchased the 20-acre property along Tuckernuck Drive, between West Broad Street and Mayland Drive, for $28.55 million. The sale closed June 27 , according to county records. McCann president Matt Akin and vice president Thomas Upson said the property’s proximity to their office, as well as to Innsbrook, was appealing to the firm, whose portfolio of rental properties is primarily out-of-state. Akin said Hickory Creek is “close by; it’s in a neighborhood we obviously know. It’s a mid-‘80s product that needs a lar...

Lon Horwedel | AnnArbor.com Ann Arbor’s Hidden Valley Club apartment complex is a local example of a $ 70 billion national real estate problem : Securitized commercial loans that are in default. A foreclosure notice on the 324-unit complex near Briarwood was filed in late April, despite months of ongoing conversations initiated by the owner to modify the loan. The loan itself - which totals $18.1 million - is complicated, since it’s one among billions in real estate investments that were repackaged and sold to Wall Street investors during years of peak real estate prices . So are the circumstances behind the loan default, said Hidden Valley Club co- owner Jeff Starman . The most obvious is the drop in the property’s value as rental rates fell below levels to cover loan payments . Other factors include a national real estate climate in which banking consolidations after the lending crisis and the sheer volume of properties in securitized loans - known as Commercial Mortgage B...

Space is a precious commodity in New York City, particularly for the parents of young children, and as families grow it can be a major hurdle to find (and afford) the room to accommodate them. Samantha (whose name we've changed to protect her privacy) and her husband, the parents of a four-year-old and a one-year-old, currently own a two-bedroom, one-bath co-op on the Upper East Side , and are wondering whether it's time to move to a larger home.  "We are unsure about the prospect of our next move and whether it would be worth it to move to a rental or buy again, considering the increase in space we need," Samantha says. The couple would ideally like to find a three- bedroom apartment close to a park, in a building with a live-in super or doorman, though a two-bedroom with a separate dining room could work, too. Because of their children, they prefer a building with an elevator, or a first-floor apartment; transit-wise, they're looking for a commute to their job...

IN THE COMMONWEALTH COURT OF PENNSYLVANIA FP Willow Ridge Associates , L.P., : : Appellant : : v. : No. 1846 C.D. 2016 : Argued: June 5, 2017 Allen Township and Northampton : Borough : BEFORE: HONORABLE P. KEVIN BROBSON, Judge HONORABLE MICHAEL H. WOJCIK, Judge HONORABLE JOSEPH M. COSGROVE, Judge OPINION BY JUDGE WOJCIK FILED : July 6, 2017 FP Willow Ridge Associates , L.P., (Willow Ridge) appeals from an order of the Court of Common Pleas of Northampton County (trial court) that granted Allen Township ’s (Township) motion for summary judgment against Willow Ridge and dismissed as moot Northampton Bor...

The Oasis Terraces housing complex in Singapore and the original cast of “Rent” How to tell if one has made it in America? See if they own a home. For decades, homeownership has been one of the cornerstones of the American dream, and the U.S. housing market was the envy of the world. But that’s changed. The federal mortgage subsidy complex , which turned (white) America into a nation of homeowners in the postwar decades and helped build the world’s largest middle class , is no longer doing what it’s supposed to. Faced with stagnating wages and ballooning property prices , fewer Americans can afford to buy their own homes. The mortgage interest deduction and Fannie Mae and Freddie Mac are turning into regressive subsidies, channeling taxpayer money to rich homeowners and driving up housing costs while a growing group of middle-income renters must fend for themselves. Rent-stabilization laws have become weaker over time. And New York is dealing with a crumbling public housing infrast...

LAKE Macquarie is being transformed at a rate not seen for generations, with a construction frenzy spilling over from Newcastle and pushing Warners Bay and Charlestown skywards. The Lake Macquarie council area, which includes a swath of greater Newcastle suburbs and townships such as Morisset, Cooranbong and Swansea, had about 2,700 development applications worth $607 million approved in the last financial year . That is 550 more than the previous year, and an increase of 23.5 per cent. About $250 million worth of construction is underway and, while not on the scale of Newcastle’s $900 million transformation, the Lake figure is mainly private investment unswollen by major public works  like the Newcastle light rail . There is also more than $300 million worth of development in the pipeline. Among the projects attracting buyers’ interest are the $80 million Water’s Edge apartments proposed for the Esplanade at Warners Bay. If approved, Water’s Edge will take the site of a former ...