Apartment City

La Mirage: hilltop site a few blocks from Qualcomm Stadium The Irvine Co. has bought an upscale apartment complex in Mission Valley — the company’s largest single-property acquisition of the year. The Newport Beach- based real estate investor and developer recently closed on the purchase of La Mirage, a 1,410- unit apartment complex just off Interstate 15. The 74- acre hilltop site is a few blocks from Qualcomm Stadium. La Mirage was bought from Chicago- based apartment owner Equity Residential . A sale price for the transaction, which was completed late last month, was not disclosed. The tab would come to about $ 350 million based on a per- apartment price of about $250,000 — the going rate for high- end rental properties in the region. That estimate would put the deal among the most expensive seen in San Diego this year. The county’s priciest real estate sale of any type this year is reported to be La Costa Resort and Spa in Carlsbad. Dallas-based Omni Hote...

The former Crossland Economy Studios at Patchen Village has been closed for several weeks, and the noise of a drill prepping a wall to be knocked down echoes through its tattered remains. Walk into a room and be prepared to hold your breath: Trash litters the dirty carpet, including fast-food wrappers, a chip bag and a child’s yellow truck. The televisions are ancient thick screens , scraps of blue-and-ivory wallpaper in some kitchenettes were last popular during the “country kitchen” fad of the 1980s and at least one of the rooms gives off the thick smell of repeated urination. But, by the end of 2017, this could become tiny apartments for millennials, complete with a coffee bar and computers in an expanded, airy lobby. Prices for the new apartments have not yet been set. “We’re looking for people who don’t want a big place,” Norwood Cowgill , president of Cowgill Properties , said. “They want a small place, just to sleep in.” Norwood Cowgill launched his StudioPlus brand from this ...

At a June 20 ribbon-cutting ceremony, Elmhurst city officials , Elmhurst Chamber of Commerce leaders, and Apartment Investment and Management Company representatives unveiled two of five new luxury townhome buildings adjacent to Elm Creek Apartments .  The construction project adds 28 luxury rental homes to the market, providing an attractive alternative to traditional apartment living . “We are pleased to offer residents all the benefits of single family-home living in an upscale, convenient rental environment ,” said Kevin Mosher, area vice president for Aimco, owner and manager of the Elm Creek property .  “The Elm Creek Apartments and Townhomes are superiorly located near job centers, such as Elmhurst Memorial Medical Center , and close to exceptional retail opportunities at Oak Brook Center .  The support we’ve received from the citizens, business leaders and the City of Elmhurst has been outstanding, and we look forward to being a good neighbor and community partner for ye...

CHICAGO – The co- development team of Conor Commercial Real Estate , a national real estate development firm and a member of The McShane Companies , and Ravine Park Partners (RPP), a Jeff Annenberg and Greg Moyer company , is pleased to announce the groundbreaking for Woodview Apartments, a new 248- unit luxury apartment development in Deerfield, Illinois.  Prominently situated at Deerfield Road and Interstate 94 in the north suburban Chicago market , the multi- family development will provide luxury rental residences incorporating an upscale array of features together with well- appointed tenant amenities .  The co- development team will begin tenant occupancy in first quarter of 2015 while the remaining portions of the complex will be completed in summer 2015. The four-story, 432, 000 square foot apartment development will be constructed with thoughtful architectural and landscape design in order to seamlessly integrate into the surrounding neighborhoo...

RENO, Nev. (AP) — It's a journey that most people eventually take. Fifteen years ago , Anne Carte decided to leave the familiar comforts of home and family to move out on her own. For Carte, who was 20 years old at the time, moving to the Biggest Little City from San Jose, California, represented an exciting and crucial juncture in her life. "I moved to Reno to grow up and be an adult," Carte said. The year 2002 had its fair share of memorable moments. That same year, "Star Wars: Episode II" debuted in theaters, Tiger Woods won the 66th Masters Tournament and "American Idol" premiered on television. One thing Carte specifically remembers was the cost of rent. Back then, the monthly rate for Carte's first studio in Sparks was only $495. For a young person who just moved out of home and landed an entry-level job at Target, an affordable place to stay was not a luxury. It was a b...

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Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-and-demand scenario that saw the cost of housing skyrocket in the Biggest Little City." title="In this March 24, 2017 photo shows a new apartment complex in the Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-and-demand scenario that saw the cost of housing skyrocket in the Biggest Little City." src="src" /> In this March 24, 2017 photo shows a new apartment complex in the Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-a...