Apartment City

MUSKEGON, MI - Part of the old Shaw Walker factory downtown Muskegon are coming down.  Demolition has begun on sections of the 1-million- square foot building . So far, a large portion facing Division Street has been reduced to piles of bricks.  An agreement with the city of Muskegon in January gave the building's owner, P&G Holdings of New York, two years to develop the sprawling building into apartments and an entertainment complex.  Watermark Center plans at old Shaw Walker topic of public hearing The former furniture factory consists of multiple additions. "In order to allow our contractors to get a good handle on the overall scope of the proposed redevelopment, as well as support them in their efforts to provide realistic bid pricing , we began some selective demolition last week at the site," said Sarah Sass, president of the Watermark Center. "The demo is consistent with the scope originally contemplated and it also removes some structural concerns t...

Tacoma, Wash.—Walker & Dunlop has provided $27.4 million in financing for three multifamily properties near Joint Base Lewis McChord in Washington. The assets are comprised of 384 units with military concentrations ranging from approximately 20 to more than 60 percent. Walker & Dunlop Senior Vice President Allan Edelson led the Walker & Dunlop team on the transactions. Financing for Miramonte Apartments, located in Tacoma, Wash., was structured with a 10-year term with three-years interest only followed by a 30- year amortization period under Freddie Mac’s Capital Markets Execution (CME) program. The refinance was underwritten to a 74.67 percent loan-to-value with a 1.37x debt- service coverage ratio . Miramonte is located approximately three miles from the base and offers 120 units, approximately 20 percent of which are military-related and 8 percent of the units receive a form of government assistance. The Fannie Mae refinance for Arbor Pointe Apartments , located ...

The 'largest housing complex west of the Mississippi River' once held mostly whites of a certain age. But like Los Angeles, things have changed. And even the old-timers like it that way. Park La Brea resident Katie Shin , 5, center, leans against her father, Sebastian Shin, while friend Manasuini Perumalla, 2, left, and an unidentified boy play on the grounds of Los Angeles' Park La Brea. At 4,247 apartments, management still touts it as the largest housing complex west of the Mississippi River, but the passing decades have brought many changes." alt=" Park La Brea resident Katie Shin , 5, center, leans against her father, Sebastian Shin, while friend Manasuini Perumalla, 2, left, and an unidentified boy play on the grounds of Los Angeles' Park La Brea. At 4,247 apartments, management still touts it as the largest housing complex west of the Mississippi River, but the passing decades have brought many changes." /> Park La Brea resident Katie Shin , 5...

NEWPORT NEWS, Va. (WAVY) — A Newport News man has been charged after police say he intimidated young girls at a bus stop. On Thursday, two elementary school students reported a man had approached them twice in the Regency Square Apartments neighborhood on Jefferson Avenue, according to Harold Eley with the Newport News Police Department . The 9-year-old girl and 11-year-old girl said the man first approached them on April 20, that he was staring at them and said he was going to shoot them with a gun. They said the man approached them a second time on Thursday around 8:30 a.m. at the bus stop near the apartment complex , and indicated he was going to shoot them and have sex with them. “He was like looking at our butt and everything, and we thought like something was going to happen to us,” said the 11-year-old girl, who asked not to be identified. “So when we got to school, we told it straight away to the principal.” WALKER, VANDARREN (Photo by NNPD) Both girls said the suspect had ...

Orange County ’s well-diversified and growing economy, coupled with its high quality of life, attract residents nationally and internationally to the region. Prohibitive home pricing also intensifies the high barrier to home ownership , further supporting overall apartment fundamentals in the Orange County market . Developers are targeting urban centers where they can transform the areas with Class A rentals. Anaheim’s Platinum Triangle, the Disney Resort, Convention Center Complex and surrounding area are undergoing an infusion of more than $5 billion that is redefining the area as a highly urbanized residential , entertainment and business hub. A similar transformation is happening at the Irvine Business Complex (IBC). In addition to these clusters, about 19,000 units are scheduled to come online over the next few years, particularly in the Class A product category. Associates Newport Beach " width="100" height="125" /> Steve Heimuli, Lee & Associ...

Day one of their Italian honeymoon and Edward Roberts and Jade Walker received the email that would crush their long-held dreams of moving into their first home. From a hotel in Rome, they learned that their developer was tearing up the contract for their off-the-plan apartment in Croydon. “We were stunned and we were shattered because for two years, we’d been hanging on to moving into our first home,” Mr Roberts said. C24 development ." /> An artist’s impression of the inside of an apartment at the C24 development . The letter, seen by Fairfax Media, was sent last month, more than two years after the couple had signed the contract for the two-bedroom apartment. The practice has been dubbed “sunset clawback”, a practice where developers rescind contracts for off-the-plan purchases and then put apartments back onto the market for sale. “Two Christmases have gone by that we’ve missed out on being in our first home.” Edward Roberts It highlights the risks of buying off-the-plan, ...

CLOSE Since January journalists David Plazas and George Walker IV have examined how pro-growth policies have prepared Nashville for prosperity, but it has been paired with growing inequality in their "Costs of Growth and Change in Nashville" series. Wochit The buyers of Riverchase Apartments say they don't plan to leave the federal Low Income Housing Tax Credit Program, a move that would've allowed them to charge market rates for the apartments. Riverchase Apartments in McFerrin Park has a new owner. (Photo: Submitted) Story Highlights Riverchase Apartments is one of the few remaining low- income housing complexes near downtown. Roughly 99 residents use Section 8 vouchers to help pay their rents compared with 106 a year ago. Nashville- based Elmington Property Management now handles leasing and management of Riverchase Apartments. A new Nashville- based company  has paid $11.2 million for Riverchase Apartments, one of the few remaining low- income housing comple...