Envy Apartment

PARKER, CO - Atlanta-headquartered ARA, the largest privately held , full- service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently brokered the sale of the Windrock and Stone Canyon apartment communities , in Parker, CO. ARA Denver- based principals , Jeff Hawks, Doug Andrews, Terrance Hunt and Shane Ozment, represented the undisclosed institutional seller in the transaction. TM Equities, a Salt Lake City - based real estate investment group , purchased the properties for $82,750,000, which represents a price per unit of $125,379, and a price per square foot of $137.02. Jeff Hawks explained , "This property was built during the 2001-2003 development cycle, which included over 22,000 units delivered during the three year span. To put this into perspective, the entire metro Denver apartment market has not delivered that many units during the last ten years combined . Buyers are focused on properties bui...

For the first time in 40 years, Detroit’s famed Lafayette Park has a new addition. Designed by Detroit- based McIntosh Poris Associates , DuCharme Place is a 185- unit apartment community comprised of four midrise buildings. Adding to the Mies van der Rohe–designed historic district, the new development plays liberally with many of Mies’s original concepts. The long history of Lafayette Park includes the “slum” clearing urban renewal of postwar urban centers , the rise of modernist housing blocks in the U.S., and the realization of one of Mies’s largest housing projects . The first projects to be completed in the development were the Mies- designed Pavilion Apartments and a series of townhouses that are most often associated with the neighborhood. After those initial buildings, a handful of architects, including Gunnar Birkerts and John Macsai, added a school, shopping center, and more housing, with the last major project finishing in 1967. Ludwig Hilberseimer, Alfred Caldwell,...

The New York City housing market is truly a beast of its own. We are living in a world where you can't simply buy a house, white picket fence , and start planting the seeds of your American Dream. Instead, our homes are divided into a series of different housing types. For those of you looking to buy, or simply for those of you looking to understand more about the housing industry in the city, here is a breakdown of the most popular forms of home ownership in New York City: Cooperative Roughly 75 percent of the Manhattan housing inventory is comprised of co-ops. Unlike a condo, co-ops are are owned by a corporation. This means, when you buy an apartment that is in a co-op building, you are not actually buying real property (like you would in a condo). You are in fact, buying shares of the corporation. These shares entitle you to a proprietary lease, which relates your relationship to the building close to that of an investor, rather than a condo building, where you are the outr...

OREM -- If you think you've been hearing about the University Mall development becoming a major development called University Place for a long time, you're right. As early as April 2013, members of the Orem City Council and department heads were informed of preliminary discussions on the development and were asked to sign non-disclosure statements. All the council members except Brent Sumner signed the agreements. It wasn't until the cat was let out of the bag at the Utah Valley Chamber of Commerce Executive Summit in September 2013 that people finally got an idea of what was in the works. At that summit, Coldwell Banker executive agent Brandon Fugal announced University Mall would undergo a huge transformation, introducing its own business park and housing developments along with additional retail expansion . "It will be Utah County's equivalent of City Creek," said Fugal at the time, comparing the Orem project to the redeveloped mall in downtown Sal...