Apartment

Multifamily Concessions ‘Arms Race’ Heats Up As Renters Gain Power Position

Multifamily Concessions ‘Arms Race’ Heats Up As Renters Gain Power Position

“This article describes the Concessions and Rent Discounts being offered in MF properties in San Francisco, but these very similar to all that is being offered by Landlords in Seattle as well. Our Urban market has been hit hard….very few prospects coming in to rent, and concessions abound at all urban properties…!”   Some of San Francisco’s largest apartment owners are resorting…

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There are two ‘overheating’ construction markets in the world — Seattle is one, report says

There are two ‘overheating’ construction markets in the world — Seattle is one, report says

Seattle is one of the 10 most expensive places in the world to construct buildings — one of just two markets deemed to be overheating. That’s according to Turner & Townsend, a British professional services firm that specializes in program, project and cost management, which issued a new report this week that, among other things, looks at the per-square-meter cost…

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Dallas/Fort Worth Leads For Multifamily Permits in  March

Dallas/Fort Worth Leads For Multifamily Permits in March

A spike in permitting activity across several major markets helped revitalize national figures. During March 2017, total U.S. multifamily authorization activity rose 33.8% from February 2017 and 17.6% from a year prior, according to preliminary data from the U.S. Census Bureau. A total of 32,100 multifamily units were approved for construction by local governments across the country in March, bringing…

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With Thousands of Jobs Coming, Bellevue Homebuilders Spring Into Action

With Thousands of Jobs Coming, Bellevue Homebuilders Spring Into Action

Carpenters are breaking out the hammers east of Interstate 405 in Bellevue to start building hundreds of homes in and around the 36-acre Spring District development. Construction started this week on a 279-unit apartment project in the district. Nearby work began last week on 12 townhouses, and the developer says he has received purchase offers on a quarter of them.…

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CoStar: US Multifamily Demand Remains Steady As Historic Levels of New Supply Come Online

CoStar: US Multifamily Demand Remains Steady As Historic Levels of New Supply Come Online

US apartment demand remained strong in the third quarter. The multifamily sector continued its historic run of supply as developers brought new units on the market at a record clip. Overall absorption for apartment units on a national basis remained steady in Q3 at nearly 45,000 units, with renters leasing 172,000 units in the 12-month period ending in September, CoStar reports. The…

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Seattle Developer Has Big Plans for Downtown Tacoma Tower

Seattle Developer Has Big Plans for Downtown Tacoma Tower

Seattle-based Unico Properties has acquired an historic downtown Tacoma office tower to turn it into apartments.  Unico announced its plans for the 18-story Washington Building Tuesday. It was the tallest building in Tacoma when it was completed 90 years ago and the second-tallest building in the Northwest behind Seattle’s Smith Tower, which Unico also owns. UNICO PROPERTIES Unico paid $9.8…

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Five reasons real estate development joint ventures go bad

Five reasons real estate development joint ventures go bad

Having represented real estate developers and investors in partnership disputes for 20 years, I’ve recognized certain patterns of behavior that lead to partnership conflicts. An understanding of these patterns can help you avoid disputes, and costly litigation, in your real estate development deals. Here are five sources of conflict that real estate developers and investors must keep in mind. The…

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