3 noteworthy multifamily projects for July 2024
These three multifamily projects on our radar include an artist-inspired complex, seven-acres of senior housing, and a budget-conscious rental community.
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These three multifamily projects on our radar include an artist-inspired complex, seven-acres of senior housing, and a budget-conscious rental community.
The Smith No. 99 in Boston, Mass., is a new 305,000-sf mixed-use apartment community featuring 304 market rate and affordable housing units.
In downtown Chicago, the site of the planned Chicago Spire, at the confluence of Lake Michigan and the Chicago River, has sat vacant since construction ceased in the wake of the Great Recession. In the next few years, the site will be home to a new two-tower residential development, 400 Lake Shore.
The challenge of finding an available rental continues to increase for Americans nation-wide. On average, there are eight prospective tenants vying for the same vacant apartment.
New York City’s Office Conversion Accelerator Program has been contacted by the owners of 64 commercial buildings interested in converting their properties to residential use.
Two high-rise apartment buildings in San Francisco have installed onsite water recycling systems that will reuse a total of 3.9 million gallons of wastewater annually. The recycled water will be used for toilet flushing, cooling towers, and landscape irrigation to significantly reduce water usage in both buildings.
The U.S. Environmental Protection Agency recently launched ENERGY STAR NextGen Certified Homes and Apartments, a voluntary certification program for new residential buildings. The program will increase national energy and emissions savings by accelerating the building industry’s adoption of advanced, energy-efficient technologies, according to an EPA news release.
As mass timber construction evolves from the first decade of projects, we're finding an increasing variety of mass timber solutions. Here are three primary examples.
A Florida law enacted after the Surfside condo tower collapse is causing turmoil in the condominium market. The law, which requires buildings to meet certain structural safety standards, is forcing condo associations to assess hefty fees to make repairs on older properties. In some cases, the cost per unit runs into six figures.
Construction recently kicked off for Oxbow, a multifamily community in Charlotte’s The Mill District. The $97.8 million project, consisting of 389 rental units and 14,300 sf of commercial space, sits on 4.3 acres that formerly housed four commercial buildings. The street-level retail is designed for boutiques, coffee shops, and other neighborhood services.
For the first time ever, hotel to apartment conversion projects have overtaken office-to-residential conversions.
An eight-story, 72,000-sf mass timber apartment building in Portland, Ore., topped out this winter and will soon offer over 100 affordable units. The structure is the tallest affordable housing mass timber building and the first Type IV-C affordable housing building in the city.
In its latest multifamily report, Yardi Matrix finds that the national average rent has increased for the second month in a row.
San Diego-based nonprofit affordable housing developer Community HousingWorks (CHW) celebrates the opening of Puesta del Sol Apartments, a new development with 59 apartments for adults 55 years and older.