Posts filed under ‘Greensboro’

Chapel Hill Investment Group Buys Two Triad Properties

Prudent Growth Partners, based in Chapel Hill, has purchased two apartment communities in the Triad in the last month, one in Greensboro and one in Reidsville. From the Triad Business Journal:

Prudent Growth Partners has bought the Cambridge on Elm apartment complex in Greensboro for $1.26 million…

The property, which consists of 24 two-bedroom units and 12 one-bedroom units, is 95 percent occupied…

The acquisition is the second in two weeks in the Triad for Prudent, who purchased the Oakmont Apartments in Reidsville for $2.32 million on June 15.

 

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July 6, 2016 at 10:04 pm Leave a comment

Forsyth County Housing Still Considered Affordable

A recent RealtyTrac report finds that housing in Forsyth County is still affordable. From the Winston-Salem Journal:

RealtyTrac, a national real-estate research company, said average homeowners in Forsyth needed to put 22.9 percent of their monthly household wages toward their mortgage during the first quarter. The data is available only by county.

The affordability range was based on a wage of $883 a week for an $111,994 house with a 3 percent mortgage interest rate. Historically, the average homeowner spent 25.6 percent of household wages for the mortgage.

RealtyTrac has maintained a “buy” recommendation for the Forsyth housing market, based on a $1,059 monthly rent-to-own payment requiring nearly 30 percent of the average household income.

Here are numbers for other urban counties in the state:

For Guilford County, the RealtyTrac report determined 24.2 percent of weekly wages was required to buy a $144,500 home, the median sales price in the market.

For Mecklenburg County, the report determined 25.5 percent of weekly wages was required for a $208,000 home, the median sales price in the market.

For Mecklenburg County, the report determined 25.5 percent of weekly wages was required for a $208,000 home, the median sales price in the market.

July 6, 2016 at 7:01 pm Leave a comment

NJ Group Purchases Lake Brandt Apartments

Lake Brandt Apartments was recently purchased by The Solomon Organization of New Jersey:

The Solomon Organization of Summit, N.J., has purchased a 14-building apartment community in northwest Greensboro for $20 million.

The 284-unit Lake Brandt Apartment Homes community becomes the group’s third North Carolina complex, according to its website.

Zach Solomon, managing director of The Solomon Organization, said his group will continue to look at properties around North Carolina.

“We find the Triad and the Triangle to be very desirable places to own real estate,” Solomon said. “We’re happy to be there, and we’re going to be there for a long period of time.”

June 9, 2016 at 7:37 pm Leave a comment

Mixed-Use Project in Greensboro to Include Apartments

A mixed-use project on Lawndale Drive in Greensboro will feature 57 apartment units. From the Triad Business Journal:

Construction will begin this summer on a $9 million development on Lawndale Drive that mixes retail shops with 57 one- and two-bedroom apartments.

Spark Development & Construction is now working to line up tenants forKirkwood Place, a 2-acre development on Lawndale Drive between Independence Road and Colonial Avenue. The development sits across from the busy Lawndale Crossing shopping center anchored by Target, Harris Teeter and PetSmart…

The residential units will occupy the top three floors of the four-story building, with two-bedroom units on the corners and center of each floor. Rents will range from $900 to $1,500 a month, Stratton said. Further out Lawndale Drive there are multifamily residential properties, but Kirkwood Place will mark the first one on Lawndale Drive coming from downtown Greensboro.

June 9, 2016 at 7:32 pm Leave a comment

Southeastern Building Wins Historical Rehabilitation Award

BSC Holdings’ extensive work to bring the Southeastern Building in Greensboro back to life has been recognized with a state-wide award:

The historic Southeastern Building in downtown Greensboro described as the city’s first skyscraper has won the Great Historic Rehabilitation Award from the N.C. Chapter of the American Planning Association.

The property, which was nominated for the award by the city’s planning department, earned more public votes for the title than the six other entries from across the state. The online contest ran May 2-13.

If you’d like to see a slideshow of the project you can find it at the Southeastern Building’s website.

May 31, 2016 at 2:25 pm Leave a comment

Last Year’s Largest Triad Apartment Construction Projects

Commercial Property Executive produced a nice little listicle of the largest apartment construction projects delivered last year. Who’s number 1?

Images from Stafford Place’s Website

Stafford Place, 360 units
Parr Investments targeted Winston-Salem for its 360-unit development with spacious floor plans and high-end finishes. The complex features extras such as a 21-seat movie theater, a coffee bar where residents can socialize and relax, a business center and a swimming pool. Nowadays, tenants want more than living space. A sense of community helps them to feel connected, and we increasingly see amenities that encourage socializing between tenants.

You can find the rest of the list here.

May 31, 2016 at 2:09 pm 1 comment

Double Your Money to Fight Hunger!

FoodDriveLogo
As you may know, PTAA’s Summer Food Drive kicked off on May 1st and we’ve been delivering food collecton boxes to apartment communities throughout the Triad so that they can participate. Details on how you can participate are below, but before we get to that we need to point out an important piece of information: Any money you raise for Second Harvest between now and June 30 will be matched by a donor. So every dollar you give magically turns into $2!

Of course we want you to participate in any way you can, and Second Harvest definitely needs food and cash donations, but if you are going to make a financial donation then you might try to make it in June so that the money is doubled and has a maximum effect!

You can make a financial donation here

Our full Summer Food Drive webpage is here.


New This Year – Community Level Competition!
We’ve always had a competition between management companies to see which can raise the most food/money, but this year we’ve added two new levels of competition:

The community with over 200 units that donates the most will win Breakfast on the Go for its residents.

The community with under 200 units that donates the most will win Breakfast on the Go for its residents.

Want to sign up your community to participate? Use this form.


fillthestands

Come on out to the ballgames!
Once again we are partnering with the Winston-Salem Dash, the Greensboro Grasshoppers and WXII12 to promote the food drive to the general public. We will be collecting food at the Dash game on July 15 and the Grasshoppers game on July 22. Keep an eye out for the ads when they run on WXII12 in July, and if you’d like to bring your families out for a great time you can purchase tickets from PTAA to attend.
Buy Winston-Salem Dash tickets here.
Buy Greensboro Grasshoppers tickets here.

May 17, 2016 at 4:09 pm 1 comment

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