Apartment City

Everyone knows that Boston apartment rents are either steady or increasing (and, in the case of steady, that means not falling all that much). But the analyses that often paint this reality cull from both luxury apartment buildings and the region’s more utilitarian fare. A new report from real estate listings site Boston Pads seeks to separate the non-luxury apartments from the luxury spreads in amenity-laden buildings to provide a snapshot of how much it costs to rent your average one- or two-bedroom home. It turns out that even removing the luxury apartments means that tony Back Bay is the most expensive area for renting either a one-bedroom or a two-bedroom. And Quincy and Dorchester are the least expensive. The interactive map below gives a fuller snapshot, and includes vacancy rates by neighborhood and city or town. None of the vacancy rates are particularly beefy—some, like in Newton and Beacon Hill are ridiculously low—but that helps explain why rents remain relatively high...

By Matthew Perlman Law360, New York (August 8, 2017, 6:44 PM EDT) -- Airbnb urged a California federal court on Monday to toss a proposed class action brought by an apartment complex owner alleging rowdy guests are costing money and disturbing long-term tenants, arguing that it’s not responsible for enforcing the owner’s “anti-tenant” lease provisions. The home- sharing site filed a motion to dismiss the suit lodged by AIMCO Venezia LLC and Park La Brea LLC , which are subsidiaries of Apartment Investment and Management Co., a large national landlord known as Aimco. Airbnb said that Aimco added a provision to its lease agreements that purports to prohibit any subleasing of its apartments after deciding that all participants in home-sharing services — hosts and guests — cause “stress and disruption.” Now, Airbnb said, the owner wants a third party to enforce its “blanket ban of people it views as undesirable at its luxury apartment properties .” “This complaint seeks to shift t...

Uptown Newport Village will replace two industrial buildings with a walkable neighborhood of shops, restaurants, parks and upscale housing. Newport Beach, one of Southern California's most affluent cities, is about to transform an industrial area near John Wayne Airport into a distinctly urban community of homes and shops. Uptown Newport Village will replace a pair of aging industrial buildings on 25 acres near the airport with a walkable neighborhood of shops, restaurants, parks and upscale homes and apartments, according to Shopoff Group, an Irvine developer. Mayor Rush N. Hill, who is an architect, said he is excited about the project and pleased that it will be a dense neighborhood by local standards. "It's a relatively new kind of product for us with respect to density and height," he said. "We look at this as a great stride forward in walkable communities. We think it's very appropriate for the area." The first phase of the project will cost ...

Providence Place Apartments rendering by SGN+A. HUNTSVILLE, Alabama -- Developers are breaking ground or already at work on several major apartment projects this year across the Huntsville area. The construction activity isn 't surprising to David Wilson, who tracks dozens of apartment complexes with 60 or more units in the local market. "We've had few new construction starts the last few years," he said. "Things are ramping up after a lull." It helps that the Huntsville area has one of the healthier economies in the state and region, Wilson said. Only 86 apartments were added to the local market in 2011, according to Wilson, a sales agent with Birmingham- based Rock Apartment Advisors and president of The David Wilson Co. in Huntsville. In 2010, 644 apartment units were delivered. Site preparation work started earlier this year at the site of Providence Place Apartments at the northeast corner of Providence Main Street and Biltmore Drive in west Hunts...

With SoCal rents rising , developers are busy building apartment communities , particularly in Los Angeles. L.A. remains among the top 10 least affordable housing markets in the nation. Rents climbed to $2,054 in January, way above the national average . Ballooning home prices have made home-ownership more difficult, and in turn put downward pressure on apartment vacancy rates . Despite the issues with affordability and the growing amount of lifestyle supply, we expect continued strong demand . The pronounced need for housing has resulted in a construction boom, and there are no signs of slowing down. At this point, everyone is trying to get a slice of the action, buying and building along the way. According to Yardi Matrix data , these are the top 10 owners in the Los Angeles market , based on unit counts. 10. Aimco Palazzo East at Park La Brea Aimco, or Apartment Investment Management Co., is among the largest owners and operators of apartment communities in the United States. T...

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