Coming Soon: A Livery in Camel City

This development near BB&T Ballpark in Winston-Salem will surely be one of the more unique adaptive reuses we see in the Piedmont Triad in the foreseeable future:

A Lewisville developer is breathing new life into a downtown Winston-Salem apartment complex by refashioning it as “The Livery.”

The idea behind the 27-unit complex at 648 Holly Ave. was to create the appearance the building was a “high-end horse barn” that’s been renovated into apartments, said Jeff Zenger, president of Lisha Construction and Solomon Development…

Zenger bought 648 Holly Ave. for $500,000, and plans to invest at least $1 million to completely renovate the building inside and out, along with a carriage house on the property…

The complex’s one-bedroom units are about 535 square feet and are being reworked with new central air and heat along with amenities such as granite countertops and stainless steel appliances…

Pre-leasing for the building has now begun, with the first units expected to be ready by Aug. 1 and rent for around $800.

You can see a rendering of the project here.

June 28, 2016 at 8:04 pm Leave a comment

NAA Statement on “How Housing Matters” Study

Following is a statement from Doug Culkin, CAE, President and CEO of the National Apartment Association, on the MacArthur Foundation’s 2016 “How Housing Matters” survey:

“With four of five Americans believing housing affordability continues to be a problem, this study underscores the need for political leadership and results‐driven policies to meet the demand for apartment housing.

America’s affordability problem is growing. The supply of rental apartments can’t meet the demand – between 300,000 to 400,000 apartments must be built annually to keep pace, but only an average of 208,000 were built between 2011 and 2015.

Compounding this challenge is stagnancy in incomes. Median rental household income is almost unchanged from 35 years ago on an inflation‐adjusted basis.

Finally, costly and cumbersome regulations at all levels of government create barriers to the development of new rental housing and ultimately drive rents above what many families can afford.

We commend the MacArthur Foundation for reinforcing that Americans want lawmakers to act now to address our nation’s housing affordability challenges.

Lawmakers must recognize that the most viable solution requires a strong partnership between government and the private sector. The National Apartment Association continues to work to enable our members to provide apartment homes that meet the needs of all Americans.”

###
The National Apartment Association (NAA), America’s leading voice for the apartment housing industry, provides its members with the best range of strategic, educational, operational, networking and advocacy resources they need to learn, to lead and to succeed. As a federation of nearly 170 state and local affiliates, NAA encompasses over 72,000 members representing more than 8.4 million apartment homes globally. NAA’s purpose is to enable every single one of its members to fulfill his or her professional goals with great competence, speed and the highest standards of ethics. To learn more, visit http://www.naahq.org.

June 27, 2016 at 1:00 pm Leave a comment

Rent Jon for a Good Cause – Limited Time Offer

This year PTAA’s executive director Jon Lowder is once again trying to raise money for our annual summer food drive, and if you’re willing to donate to Second Harvest Food Bank of NWNC you can rent his time for any number of reasons. Even better, if you make the donation before June 30 then your money will be automatically matched dollar-for-dollar by an anonymous donor at Second Harvest, so it’s doubled! Not sure what you can do with his time? Well, here’s what he’s written to give you some ideas (you can find full details here):

Last year I ventured to raise money for Second Harvest Food Bank of NWNC by doing something called Jon’s Pentathlon of Pain. This year I’m focusing on raising funds in the month of June because Second Harvest has a program that matches every dollar donated until June 30.That means if you donate $10 it magically turns into $20.

So here’s how it’s going to work: if you have a challenge, task, stunt that you want me to do then send me a description of what you want me to do (see instructions below), and how much you’re willing to donate to Second Harvest to have me do it. Because time is short the project/stunt doesn’t have to be completed in June, but the donation does have to be made and we can arrange for it to be done later.

I reserve the right to not accept any challenge or project – I’m not getting piercings or tattoos folks – but I listen to any offer.

Here are some ideas:

  • Hire me for a day (I’m sure we can figure out something useful I can do)
  • A writing project
  • A podcast
  • An embarrassing video (here’s an example from last year)
  • Wear your company’s schwag (hat, shirt, etc.) for a day

Just use your imagination. To bid just send me an email or leave a comment on the Jon’s Challenge Facebook page.

Want to just make a straight donation? You can do it through my office’s food drive donation page here and just shoot me a message to let me know how much you donated.

Let’s get busy and help feed the hungry in our community!

June 24, 2016 at 2:13 pm Leave a comment

Rents Leveling Off, Especially in Major Metro Markets

According to an article in the Wall Street Journal rents are beginning to level off nationwide:

After a five-year boom in which rents have jumped by about 20% nationwide, some of the nation’s biggest cities—New York, San Francisco, Seattle and Boston among them—are beginning to see slower increases. Annual rent growth for high-end urban apartments peaked at nearly 8% at the end of 2011 and has since slowed to just over 3%, according to MPF Research, which tracks the apartment market.

The downdraft is likely to become more pronounced as many of these cities see increases in the number of new apartments being delivered in 2016 and 2017. In 25 of the largest U.S. cities, multifamily permits in urban areas were up 39% in 2015 compared with a year earlier, according to a study by housing-research firm Zelman & Associates.

However, things are still good for the apartment industry:

Economists say the overall apartment market remains solid. Rents are continuing to rise quickly for more moderately priced apartments in the suburbs, tempering the urban slowdown.

You can read the full article here (Requires subscription to WSJ).

June 24, 2016 at 1:59 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

Older Posts Newer Posts


Categories

  • Blogroll

  • Feeds