Archive for News
Be Prepared for Double-Digit Rent Increases
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If you’ve sat around comfortably in your rental while you watched the housing market come crashing down, you may have already started congratulating yourself for making such as wise choice by staying put in your apartment. However, according to the Market Watch article, “Double-digit rent hikes are on the way,” you may not be congratulating yourself for long.
The article states that, according to development experts, impending shortages in the multi-family housing market will soon lead to double-digit rent increases. This shortage, coupled with a rise in people looking to rent, will give apartment owners an advantage that they haven’t seen since the mid-1990s.
Some cities are already noticing an increase in rent, with some rising by as much as 7 or 8 percent each year. And, although we will see a growth of apartment developments throughout the United States this year (about a 16 percent increase from 2010), it still won’t meet the rising demand. Read More→
Shape Up at Rockledge
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Are you looking to shake up your fitness routine or get in shape for the summer? Rockledge Marietta apartments have everything you need to take your fitness routine to the next level.
From the most elite athlete to beginners, everyone will find the fitness activity or class that fits their lifestyle. The community’s 18,000 square foot clubhouse is a dream with a basketball court, yoga studio, indoor running track and state-of-the-art gym.
If you prefer to be outdoors, swim a few laps in one of the seven swimming pools, play a game of volleyball on the sand courts, take a hike down the Chattahoochee or perfect your stroke on the tennis courts.
Rockledge also offers a variety of classes for those who need the motivation of a group setting. This spring, the luxury apartment community is offering a weekly Fitness Boot camp, core strengthening classes, yoga, belly dancing, self defense and Zumba. Plus, you’ll find that many Meetup and resident run groups also participate in fitness activities.
For more information, visit the Rockledge website or call 770-955-2513.
Strong Demand for Atlanta Apartments
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You may have heard it from your parents or loved ones: Buying a house is always better than renting an apartment. However, for young professionals who are new to the corporate working world, renting a chic downtown Atlanta apartment is not only a popular option, but also a responsible choice for those looking to live close to their places of employment. Add that to stricter lending standards and lack of buyers with a down payment, and all signs point to an impending Atlanta apartment boom noted John Burns Real Estate Counseling in Professional Builder.
The article also states that the population of 20 to 34 year olds is expected to grow considerably within the next few years. This is likely to increase the number of renters in the housing market.
Plus, 1.2 million adults had to move back in with parents during the housing recession, leaving many more than ready to fly the nest and spread their wings in their own space. Read More→
New Luxury Apartment Coming to Buckhead
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The economy may still be down; however, new apartment construction is not. There will soon be new opportunities for you to finally move to exciting Buckhead. According to the Atlanta Business Chronicle, Preserve Properties, LLC, led by Atlanta apartment developer John Draper, has plans for a new eight-story, 250-unit luxury apartment building. The site is located at 92 West Paces Ferry Road and is adjacent to the St. Regis.
Although, it will still take some time before you can make the move into this luxury building. There are no plans to start developing this year. Preserve Properties must still close on the purchase of the 2.5 acre site.
These new luxury apartments mark one of the first opportunities for new development since Buckhead leaders expanded SPI-9, or the special public interest zoning district; zoning meant to transform Buckhead’s traffic ridden streets into a walkable urban district.
Its seems that investor confidence is increasing in both luxury apartments and Buckhead’s influence on Gen Y workers as a prime housing and working location.
According to Denise Starling, the executive director of the Buckhead Area Transportation Management Association (BATMA), the apartment building may complement city plans for a new international district that would include foreign consulates, office buildings and residences connected by sidewalks and quaint shops and cafes.
For more information about this new Buckhead project, visit the Atlanta Business Chronicle website.
Not Enough Homes To Go Around
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Many people enjoy the freedom of renting: You don’t have to deal with home improvements or come up with extra cash when something breaks. You can even pick up and leave as jobs come and go or as the mood strikes. Now, with the creation of new jobs in a slowly recovering economy, there is an increase demand by new renters wanting to take on the joys of apartment living. However, the lack of credit needed to finance new apartment developments is causing some rents to increase and may lead to a shortage in the near future.
According to the National Association of Home Builders (NAHB) chief economist, David Crowe, we will likely see the construction of 133,000 new apartments across the U.S. in 2011. However, to keep the demand in balance there needs to be between 250,000 and 300,000 units constructed.
This pressure is felt across all types of multi-family housing. Even affordable rental housing, the kind that is primarily driven by the Low-Income Housing Tax Credit program, is feeling the strain. According to Robert Greer, president of Michaels Development Company, the affordable housing market is rebounding. However, the depth of the current recession means that there are more people needing this type of assistance than there are apartments. Read More→
Cousins Properties Brings New Optimisim to the Commerical Real Estate Market
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Things are looking up for commercial real estate. According to an Atlanta Business Chronicle article, a new sense of optimism is back in the Atlanta commercial real estate market as Cousins Properties, the second largest owner of Atlanta real estate, is looking to begin construction on Emory Point, a development next to Emory University that halted in 2008.
Cousins Properties CEO, Larry Gellerstedt, mentioned restarting the development at Emory Point in 2011 at a Nov. 9 conference call with analysts, and again at the International Council of Shopping Centers Read More→
Chance Partners LLC to Build Boutique College Apartments
Posted by: | CommentsGone are the days of dorm rooms filled with concrete walls, shared bathrooms and limited space; according to an article in the Atlanta Business Chronicle, college kids are getting the chance to live a boutique, urban lifestyle now that Chance Partners LLC is developing high-end college apartments.
The one-year-old company’s student housing concept differs from some of the biggest players in the industry including Campus Crest Communities Inc. and American Campus Communities. Instead of seeking 20 acres of land on the outskirts of college towns to build 800-bed developments, Chance Partners will seek out one-acre sites in a city’s downtown area to build housing that is within walking distance of the nearby college campus.
Chance Partners has already complete two housing communities in Tallahassee, Fla., each with less than 40 beds. The company could bring the Read More→
Annual AAA S.T.A.R. Awards Just Around the Corner
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Did you “Shine To Achieve Recognition” this year or want to help recognize someone who did? If you want to participate in an exciting awards ceremony and haven’t already signed up for the Annual AAA S.T.A.R. Awards sponsored by NRI Construction, time is running out.
The registration for the AAA S.T.A.R. Awards dinner meeting that will take place on Nov. 18 at the Cobb Galleria Centre ends today.
This year’s event will include AAA’s 2010 president, John Inman, as the MC of the evening, recognition of the top participating companies in the AAA Food-A-Thon as well as the overall success of the event, the 2010 Industry Achievement “STAR” Awards, Read More→
Atlanta Apartment Giant is Getting Back into the Game
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Atlanta’s apartment royalty, John Williams, is launching a new company that will buy apartment communities around the country. Williams made his mark in the 1970s and 1980s when he founded and built Post Properties Inc. He then left the company in 2003.
Williams’ new venture, Preferred Apartment Communities Inc., is actively looking to raise $75 million in public offering and to have its stock listed on the NYSE Amex exchange.
Preferred Apartment Communities’ target markets will include metro areas around the country with populations of 1 million residents or more. Within these communities the company will buy properties from owners with debt and no way to refinance. The company is not expected to invest in unimproved property, develop new construction or acquire new construction.
Preferred Apartment Communities already has an Atlanta property under Read More→
Come Tailgate Indoors at Rockledge
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The fall sports season is upon us. Everywhere you look, team colors and flags wave proudly and victoriously as Americans gather to support their favorite sporting events. This season, Rockledge Apartments in Marietta brings the tailgating indoors with its sports viewing parties.
Throughout the month of September, residents can gather in the huge community party room to support and cheer for their favorite teams. Rockledge is hosting three viewing parties. On Saturday, Sept. 11, the first party was held to watch the Miami v. Ohio State game. Don’t worry if you missed out on this game, Rockledge is also hosting viewing parties for the Atlanta Braves v. Philadelphia Phillies on Sept. 21 and Atlanta Falcons v. New Orleans Saints on Sept. 26.
The luxury community will provide complimentary popcorn for residents during the game. The pool table will also be available for those looking to add to the competition in the room.
Rockledge is a resort-style community that provides many fun activity for its residents. Past activities include game nights and free movie nights in the community’s 80-seat luxury theater.
For more information about the Rockledge viewing parties and other events, visit the website.