Norfolk council OKs plans for first 2 buildings to replace St. Paul’s public housing
NORFOLK, Va. (WAVY) — The first two buildings of Norfolk’s massive public housing redevelopment plan were approved unanimously Tuesday night.
As Southeastern Cities Experience Strong Job Growth, They Are Also Seeing a Rising Demand for New Apartments
Apartment rents are also growing quickly, rising 5.4 percent on average in Atlanta over the last 12 months, 4.1 percent in Charlotte and 3.2 percent in Nashville, according to RealPage.
Apartment Construction Boom Continues in Seattle, Putting New Strain on Occupancies
Other experts believe Seattle’s strong economy will be enough to fill the large number of new apartments that are now under construction. "Demand for urban-located apartment units both remains strong and is forecast to keep pace with deliveries based on extremely strong tech employment,” says Simon.
Westminster-Canterbury buys up enough Virginia Beach condos to take control, worrying residents
About two years ago, it had been just shy of the number it needed to terminate the condo agreement, owning 22 of the 30 units. It needed to own at least 24.
New affordable apartment complex in Virginia Beach’s arts district provides much needed housing
Several years ago, upkeep of the aging apartments had become too expensive, said Robin Gauthier, executive director of Samaritan House, so the nonprofit began to seek a partnership with a developer. That's when the Lawson Cos. of Virginia Beach presented an idea too good to pass up.
2018 Top Direct Lenders
The rankings for lending volume reflect total dollar volume financed in calendar year 2017. The numbers encompass direct loans, credit lines, CMBS loans and other forms of direct investment in the commercial real estate industry.
Augmented Reality & Robots
Newport News Shipbuilding, which has been building ships for the Navy almost since the company was founded in 1886, began to test augmented reality in 2013. Celar explained the technology is a way for employees to interact with the ship plans in real three-dimensional space.
WeWork Surpasses JPMorgan
WeWork Cos. now occupies more Manhattan office space than any other company, a milestone that reflects booming demand for flexible workspace among legions of small and midsize firms—and, increasingly, larger companies, too.
Report Debunks ‘Retail Apocalypse’
According to new research from IHL Group, North American retailers will open 12,663 stores and close 8,828 stores in 2018, for a net increase of 3,835 store locations. The report found that a handful of retailers - 16 companies - represented 66% of the total number of store closings. For restaurants, 16 companies represented 74% of all net closings.
Lenders Fight for Market Share
Multifamily investors are still able to get low interest rates on permanent loans as different lender groups continue to compete for market share.