Archive for March, 2013

Video of 2013 Labor of Love

Here’s the WFMY story about PTAA’s 2013 Labor of Love project with Housing Greensboro

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March 26, 2013 at 10:00 pm Leave a comment

2013 Labor of Love

On March 22-23 PTAA partnered with Housing Greensboro for its Labor of Love project. A couple of nice stories about the project ran on local TV news broadcasts. You can find WFMY’s here and WXII’s here.

March 26, 2013 at 9:45 pm Leave a comment

44 Units, 0 Parking Spots, 46 Personal Garden Spaces

Talk about your green apartment community:

The 7,000-square-foot public garden is on the ground level and is intended to join the two main streets bordering the site. “I wanted to erase the rigid boundary between public and private and extend the city into my building and vice versa,” says Mariscal. “Retail spaces, an outdoor gym, and an outdoor cinema surround this space, all of which will increase the community’s engagement with the building.”

Each apartment unit has its own private green space. “I envision them as outdoor rooms where traditional interior activities could be carried out, like dining or entertaining,” says Mariscal. “Each ‘outdoor room’ is about 12 feet by 12 feet and is open to the sky and full of vegetation.”

On the roof, 70 percent of the area is dedicated to gardening. Mariscal says that the idea is that each rental unit would include a small piece of ground for people to grow their own vegetables. “This is healthier for residents, both physically and psychologically, less expensive, and environmentally attractive,” says Mariscal. The rest of the roof is given over to a lounge space for cooking and dining that has a view of downtown.

March 26, 2013 at 8:34 pm Leave a comment

Key Approval Likely for W-S Redevelopment Project

According to this story in the Winston-Salem Journal the developer proposing to turn the old Forsyth County Courthouse into a 57-unit community is one step closer to realizing its goal:

A Richmond developer that has turned some of downtown Winston-Salem’s historic buildings into apartments has applied for federal tax credits and local tax exemptions to move ahead with a $6 million redevelopment of the old Forsyth County Courthouse.

“Hopefully we’ll be able to start moving people in, in two years,” Herb Coleman, the CEO of Clachan Properties LLC, said Monday. The plan is to turn the building into 57 residential units, with more one-bedroom apartments than with two…

On Monday, the finance committee of the Winston-Salem City Council voted unanimously to recommend the developer’s request for the local landmark designation. The item will be taken up by the city council April 1 during a public hearing.

March 19, 2013 at 2:02 pm Leave a comment

Mel Watt to Head FHFA?

This would be an interesting development:

U.S. Rep. Mel Watt is being considered as the next head of the Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, The Wall Street Journal reported this weekend, citing “people familiar with the matter.”…

Watt’s office has declined comment on these matters. But there’s some local buzz, and state Rep. Marcus Brandon, D-Guilford, said this weekend that he’d be interested in running for the seat. Likely, he wouldn’t be alone.

“Half of Charlotte and half of Greensboro” would want that seat, state Sen. Gladys Robinson said this morning, though she said she hadn’t thought about running herself.

March 18, 2013 at 6:38 pm Leave a comment

Triad Apartment Market Weakest in the Carolinas

According to the latest data from MPF Research the Triad apartment market is the weakest in the Carolinas, and its year-over-year performance last quarter was one of the weakest in the country.

Remarkably, none of the nation’s 100 largest markets performed worse in 2012 than Greensboro/Winston-Salem. Losses were painfully universal, with every submarket and every product age group recording revenue declines. What happened? According to the Bureau of Labor Statistics, the Greensboro/Winston-Salem area has been producing consistent but unspectacular job growth over the past two years or so. As of November 2012, annual employment gains totaled 4,700 jobs. That’s below average nationally, but certainly enough to generate positive housing demand. However, it appears the bulk of the demand must be going to the single-family housing market.

In the full report (see video below) they also mention a couple of other factors that are affecting the Triad market: the region struggles to retain college graduates and young professionals thus impacting the performance of the high end market, and even though the Triad has seem some job growth over the last couple of years the region’s employment rate is still 5% below where it was in the first quarter of 2008. By comparison Raleigh and Charlotte have already regained all the jobs lost in the recession and added more.

Full story in the video:

March 18, 2013 at 12:05 pm Leave a comment

Blue Ridge Planning to Add 96 Units at Palladium Park

Blue Ridge Companies is adding 96 units to it’s Palladium community in High Point:

Blue Ridge Cos. has plans for an $8 million, 96-unit expansion of its existing Palladium Park apartment complex in north High Point.

The expanded complex will be located on a 4.45-acre tract of land off Pallas Way near Samet Drive, which Blue Ridge Cos. has under contract to purchase by the end of April, said Chris Dunbar, president and chief operating officer of Blue Ridge Cos

The High Point planning and zoning commission has approved a rezoning request for the 4.45-acre tract near the intersection of Eastchester Drive and W. Wendover Ave., said Herb Shannon, zoning coordinator…

The 96 additional units will be an expansion of Blue Ridge Cos.’ existing Palladium Park complex at 3902 Pallas Way, which came online in 2005 and features 216 apartments, Dunbar said.

March 14, 2013 at 2:36 pm Leave a comment

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