Envy Apartment

Is the cost of 16 new apartments too high for its Napa neighbors? City Council members found themselves divided in their answers on Tuesday, but scraped together just enough votes to keep alive a rental housing building planned for the edge of Old Town. Two months after the Planning Commission rejected the Bridgeview Apartments, a split council revived the project on a 3-2 vote despite concerns it would worsen parking and traffic on the narrow streets around Riverside Drive. The vote sets up a final decision by the council on approving the apartments, a move that will require finalizing an agreement with its developer to set aside three units for families earning less than the local median income and guarantee that other tenants can continue using federally funded Section 8 vouchers to pay their rent. Architect Stephen Cuddy , who is representing the landowner, Peter Dwares, predicted final approval could come to a vote May 2. Bridgeview would occupy the same 1.4-acre property w...

In truth, there is no real physical difference between what defines an apartment and what defines a condominium . They typically offer the same range of amenities, but the ownership of the property is where the real difference exists . Apartment units contained within a single complex are generally owned by the corporation or business that built the complex in the first place. Those individual units are then leased by an overarching management system that controls all the units. Condos, however, are owned much differently. Each unit in a condo complex is owned by an individual, and a homeowners association typically handles property management . That means most condos are rented from the owner of the condo itself, and not an overarching owning entity like with apartments. There are still some differences in the rental experience that one should expect, which are outlined below. Financial Costs In terms of month-to- month rental fees , condos and apartments are usually priced sim...

House-flipping hit its highest levels last year since before the recession as investors seek to capitalize on rising home prices and a seller’s market with tight inventory. But the process is nothing like what you see on TV, where it looks like a home can be bought, gutted, renovated and resold in less than an hour – not including commercial breaks . The truth is often much messier, real estate professionals in Charlotte said. “It’s a lot easier to lose money in this business than it is to make it,” said Jeff Johnson, owner of NewPath Properties , which specializes in buying and rehabbing distressed properties . Still, that’s not deterring people from giving it a try in Charlotte. First-quarter figures from Attom Data Solutions show flips – defined as the same property selling twice in a 12-month period same year – made up more than 6 percent of sales in the Charlotte region, or 540 sales. House-flipping increased almost 4 percent from a year ago, though it remains well below the cit...