DEAN MOSIMAN | Wisconsin State Journal | dmosiman@madison.com | 608-252-6141 madison.com | | Posted: Wednesday, February 29, 2012 6:00 am

A developer is offering another ambitious project for the core Downtown, this time a 14-story, $25 million mixed-use project near Overture Center and State Street.

The city is intrigued and also asked Hovde Properties to explore the feasibility of including new Downtown Fire Department facilities, which could roughly double the cost, size, housing units and parking spaces in the project.

Hovde wants to demolish three buildings for a project that would reach the Capitol height view limit with 190 apartments aimed at workers rather than students, up to 12,000-square feet of ground-floor commercial space, and a 200-space parking garage on the 300 block of West Johnson and Dayton streets.

The developer has long owned two buildings and related surface parking and recently gained control of the third building, which "afforded an opportunity to do something truly meaningful on the larger site," Hovde President Michael Slavish said.

If approvals are secured, construction could begin by the end of the year and be done in the spring of 2014, Slavish said.

Mayor Paul Soglin described the proposal as "dynamic," and asked Hovde to consider expanding the effort to include new homes for Fire Department administrative offices and Fire Station No. 1, older facilities located next door to Hovde's project site.

"At first blush, it appears it could work," Slavish said of incorporating the fire offices and station one. "The questions come down to whether or not it works financially for us and the city, and if it can be done in a reasonable period of time."

Soglin said city officials are exploring cost and other issues and expect to give Hovde a more firm indication of city interest in a larger effort in two weeks or so. "We can't drag our feet on this one," the mayor said.

Ald. Mike Verveer, 4th District, who represents the area, said Hovde is moving in the right direction by making rental housing the centerpiece of the project and that the possibility of incorporating fire facilities is "a once-in-a-lifetime opportunity."

Read the original:
14-story mixed-use apartment building proposed for Downtown Madison

By JOY BROWN

STAFF WRITER

The Argyle apartment building, structurally weakened by a fire, high winds and freezing temperatures, will be razed.

Service-Safety Director Paul Schmelzer on Tuesday said owner Sharon Frullo decided to demolish the downtown building based on an assessment made by Alvada Construction Co.'s structural engineer.

It was determined that Alvada Construction's work to shore up the structure and remove the wobbly fourth-floor walls, to prevent a collapse of the building following Thursday's fire, wasn't a sufficient long-term safety solution.

"With the weather situation, the potential for more high wind, and the slow, continuing movement of the walls, the safety of the building continues to be compromised," Schmelzer said.

The National Weather Service is predicting rain and thunderstorms today.

City officials were hoping demolition crews would arrive Tuesday night. As of 11 p.m., they weren't in sight.

The scope of the demolition is more than Alvada Construction's equipment can handle, Schmelzer said, which is why another firm was being sought.

Alvada crews were hired for building stabilization and fourth-floor demolition. The company's proximity was a plus because it arrived on site quickly, Schmelzer said.

Read more:
Owner to raze Argyle building

February 28, 2012 2:19 PM

A 440-unit apartment complex is being proposed near Powers Boulevard and Airport Road on Colorado Springs’ east side, the eighth rental project under construction or planned by developers in response to a red-hot multi-family market that has seen rents soar and vacancies fall.

The Westgate at Powers Apartments, proposed northwest of Airport and Troy Hill roads and west of Powers, would be part of a larger development of about 60 acres. The project would include smaller retailers — such as convenience stores, fast food restaurants and dollar stores  — and possibly office buildings for defense contractors.

The project has been proposed by representatives of the California-based Martin List Trust, which oversees property that had been owned by the one-time prominent Springs developer. List, who like many developers ran into financial troubles during the nation’s savings and loan crisis in the late 1980s and early ‘90s, died in September 2010.

As proposed, the Westgate apartments would include 25 two- and three-story buildings, detached garages, a clubhouse/office building, a private play area and open space.

The project is still in the planning stages and needs city regulatory approvals; construction might begin in a year and would be done in phases over possibly three years, said Rich Walker of First Properties Inc., a Springs commercial brokerage. Walker, who has been involved in previous proposals for the site, is working with representatives of the List Trust.

Unlike some luxury, amenity-laden projects that are converted into condominiums, Westgate is envisioned as a permanent rental community, Walker said.

The project would target renters who don’t want to be tied down with a single-family house, as well as a middle-income demographic — retirees, members of the military at nearby Peterson Air Force Base, defense contractors and employees of industrial businesses near the Colorado Springs Airport, Walker said. Rents are envisioned at $1 to $1.10 per square foot for one-, two- and three-bedroom apartments, although the units haven’t been designed yet, he said.

Development of the Westgate site — near the busy Powers-Airport intersection and where a Colorado Department of Transportation interchange is planned — would fill residential and shopping needs along the South Powers corridor, Walker said. The project also would be built on a so-called infill site — not part of a suburban area.

“There’s a lot of need in that neighborhood,” he said. “It’s (the project site) not as glamorous to a lot of people, and it’s been overlooked as a result of that. It’s very beautiful to us. We think it’s got some great potential.”

To accommodate future improvements planned at Powers and Airport, a portion of Troy Hill Road will be moved west as it runs into Airport Road, Walker said. The realignment will create a new intersection and improve access for north and southbound motorists on Troy Hill, he said.

Likewise, drainage and flood control improvements are planned along Sand Creek in the area, Walker said.

Retail uses would be developed on the project’s south end, near Airport Road. A concept plan for a portion of the 60-acre site also shows space for office buildings that could attract defense contractors.

Along with the Westgate project, seven other complexes under way or proposed in Fountain, Monument and the Springs would add nearly 2,200 apartments in the Pikes Peak region, which has more than 40,000 units.

Monthly apartment rents averaged about $775 in the fourth quarter of 2011, just short of a record and nearly $40 more that the same period a year earlier, according to the Colorado Division of Housing and the Apartment Association of Southern Colorado. The fourth quarter vacancy rate of 6.7 percent was well below double digit rates of several years ago.

The apartment market has benefited from the area’s housing downturn; thousands of homeowners who have lost properties to foreclosure are now renting, while some buyers can’t qualify for a mortgage because of tougher borrowing requirements. Also, thousands of Army troops have returned to Fort Carson from their deployments or moved here from other installations, and are renting.

—

Contact Rich Laden: 636-0228 Twitter @richladen

Facebook Rich Laden

 

 

Visit link:
440-unit apartment complex planned for Springs' east side

Artist rendering of a 15-story residential building on the corner of Pacific and Henry streets proposed by Harbor Point developer BLT. Photo: Contributed Photo / CT

Artist rendering of a 15-story residential building on the corner...

Carl Kuehner, CEO of Building and Land Technology, left, gives Gov. Dan Malloy and his staff a tour of the future trading floor of Louis Dreyfuss Highbridge at the Harbor Point development in the South End of Stamford, Conn. on Wednesday May 11, 2011. Photo: Kathleen O'Rourke / Stamford Advocate | Buy This Photo

Carl Kuehner, CEO of Building and Land Technology, left, gives Gov....

Gov. Dan Malloy finds some privacy during a tour of the future trading floor of Louis Dreyfuss Highbridge at the Harbor Point redevelopment in the South End of Stamford, Conn. on Wednesday May 11, 2011. Photo: Kathleen O'Rourke / Stamford Advocate | Buy This Photo

Gov. Dan Malloy finds some privacy during a tour of the future...

Gov. Dan Malloy looks at a model of the city's South End in the office of Building and Land Technology, the developer of the Harbor Point project in Stamford, Conn. on Wednesday May 11, 2011. The redevelopment of the industrial section of the city began when Malloy was mayor. Photo: Kathleen O'Rourke / Stamford Advocate | Buy This Photo

Gov. Dan Malloy looks at a model of the city's South End in the...

Gov. Dan Malloy tours Harbor Point development in the South End of Stamford, Conn. on May 11, 2011. The redevelopment of the industrial section of the city began when Malloy was mayor. Photo: Kathleen O'Rourke / Stamford Advocate | Buy This Photo

Gov. Dan Malloy tours Harbor Point development in the South End of...

An artist rendering of a proposed 22-story hotel and condominium at Harbor Point. The building, which is part of a larger retail and residential square, is located west of Washington Boulevard and overlooking Stamford Harbor. Photo: Contributed Photo / CT

An artist rendering of a proposed 22-story hotel and condominium at...

An artist rendering of a proposed 22-story hotel and condominium at Harbor Point. The building, which is part of a larger retail and residential square, is located west of Washington Boulevard and overlooking Stamford Harbor. Photo: Contributed Photo / CT

An artist rendering of a proposed 22-story hotel and condominium at...

A police car is parked nearby as members of Connecticut Local 210 of the New England Regional Council of Carpenters protest on Thursday, Jan. 19, 2012 outside a construction site on the South End of Stamford, Conn. The men were protesting what they say are unfair wages and unsafe conditions at a building being built by Norwalk-based developer Building Land and Technology. The construction workers on site are employed by Baker Concrete.

Photo: Ben Doody / CT

A police car is parked nearby as members of Connecticut Local...

The Sapphire, above, owned by Gov. Dannel P. Malloy, was one of two boats remaining on the gravel lot at Brewer Yacht Haven Marina in Stamford, which must vacate the site owned by Building and Land Technology by Oct. 31. Malloy had the boat moved this week to another marina in Stamford.

Photo: Angela Carella / CT

The Sapphire, above, owned by Gov. Dannel P. Malloy, was one of...

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of two boats that remain on the gravel lot at Brewer Yacht Haven Marina in Stamford, which must vacate the site owned by Building and Land Technology by Oct. 31.

Photo: Angela Carella / CT

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of...

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of two boats that remain on the gravel lot at Brewer Yacht Haven Marina in Stamford, which must vacate the site owned by Building and Land Technology by Oct. 31.

Photo: Angela Carella / CT

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of...

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of two boats that remain on the gravel lot at Brewer Yacht Haven Marina in Stamford, which must vacate the site owned by Building and Land Technology by Oct. 31.

Photo: Angela Carella / CT

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of...

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of two boats that remain on the gravel lot at Brewer Yacht Haven Marina in Stamford, which must vacate the site owned by Building and Land Technology by Oct. 31.

Photo: Angela Carella / CT

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of...

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of two boats that remain on the gravel lot at Brewer Yacht Haven Marina in Stamford, which must vacate the site owned by Building and Land Technology by Oct. 31.

Photo: Angela Carella / CT

The Sapphire, above, owned by Gov. Dannel P. Malloy, is one of...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. The docks once operated by Brewer Yacht Haven in the West Branch of Stamford Harbor are empty now that the boatyard has lost its lease with the landowner, Norwalk developer Building & Land Technology.

Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. Docks once operated by Brewer Yacht Haven in the West Branch of Stamford Harbor are empty since the boatyard lost its lease with the owner, Norwalk developer Building & Land Technology. Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard on...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. Gulls rest atop a breakwater in Stamford Harbor at low tide. Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard on...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. It's nearly one gull for every piling at a breakwater in Stamford Harbor on a warm Columbus Day. Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard on...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. Docks in the West Branch of Stamford Harbor are empty now that the operator, Brewer Yacht Haven, has lost its lease with the owner, Norwalk developer Building & Land Technology. Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard on...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. In Stamford Harbor, wildlife share the Sound with commercial and pleasure boats. Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard on...

Residents are fighting to keep Stamford's last working boatyard on land now owned by Norwalk developer Building & Land Technology, which is rebuilding the South End. BLT owns a large portion of harbor waterfront; one upshot is that boaters now must go to Greenwich or Norwalk to refuel. Sailboats, motorboats and crafts large and small, luxurious and simple, are found on the Sound. Photo: Angela Carella / Stamford Advocate | Buy This Photo

Residents are fighting to keep Stamford's last working boatyard on...

Go here to see the original:
South End developer tries to appease boaters

The sounds of hammering drifted from the fenced-off Peter Bulkeley Terrace in Concord Tuesday afternoon as a crowd of two dozen gathered to celebrate the building’s transformation from a congregate living facility into an apartment complex for seniors and the disabled.

“This redevelopment took a lot of staying power,” said Arthur Jemison, assistant undersecretary at the state Department of Housing and Community Development (DHCD). “It has been one of the unique public-private partnerships in the state, using DHCD funds, CPA resources and very significant contributions from private philanthropic organizations.”

Besides $3.08 million from the DHCD and $1 million in Community Preservation Committee money, funding sources include the Massachusetts Affordable Housing Trust Fund; the sale of the Belknap House in Concord; and private local donations from the Concord Housing Development Corporation and the Middlesex Savings Charitable Foundation. The project cost is slightly less than $6.7 million.

Everyone worked together on this project, said Concord Housing Authority Board Chairwoman Mary Johnson.

“I don’t think any one person did this alone. We all did it together,” Johnson said. “Each person carried enthusiasm for this project. All of us wanted this to happen.”

Concord Town Manager Christopher Whelan said the collaboration has been fruitful.

“It’s great that senior citizens will be able to live in the heart of town and walk to the library and downtown, and that the Housing Authority has been able to adapt to changing living patterns, which are no longer congregational living,” Whelan said.

CHA board member Christopher Jane Corkery praised Johnson, the board and the CHA administrative staff for their work on the project.

“These are the people who drive it,” Corkery said.

Built in 1912, Peter Bulkeley Terrace served as administrative offices before being converted to a single-room occupancy space. The renovated building, designed by Abacus Architects, will consist of 23 one-bedroom apartments and one studio apartment, each measuring 600 to 700 square feet. Four of these units will be handicapped-accessible.

The building will include air conditioning, laundry facilities, and open community spaces. Tenants pay 27 percent of their income toward rent, which includes heat and hot water but not electricity, and an activity program will be available on-site.

Tuesday, Concord officials shivered in the brisk wind as they watched L.D. Russo interior demolition workers climbing ladders, visible through the empty windows of Peter Bulkeley Terrace. Construction is expected to finish in 10 months.

“Next time we have a celebration here, we’re going to take you inside,” Johnson promised.

See the rest here:
Construction begins at Peter Bulkeley Terrace in Concord

News Briefs Findlay girl, 5, hurt in accident
A 5-year-old Findlay girl was injured in a two-car accident at the intersection of North Main Street and Defiance Avenue on Monday afternoon, the Findlay Police Department reported.

Azzareya Ortega, 5, was taken by Hanco Emergency Medical Service to Blanchard Valley Hospital. The hospital released no information on her condition.

According to a police report, Ortega was a passenger in a vehicle driven by Gabriela Ramirez, 31, of Findlay. Ramirez was attempting to make a left turn from North Main Street onto Defiance Avenue when her car was hit by a vehicle being driven by David Morrison, 51, of Findlay.

The accident occurred at 1:03 p.m. Monday.

Ramirez was cited for failure to yield when making a left turn, and for failing to use child restraints, police said.

Both vehicles sustained minor damage.

Ending 'R' word focus of program
The University of Findlay chapter of Students Teaching Respect for Individuals with Disabilities Everyday will host an event this week to raise awareness about the negative impact of using the word "retarded." The event, "Spread the Word to End the Word," will be held from 8 a.m. to 8 p.m. Wednesday in the Alumni Memorial Union.

Two participants in the Hancock Special Olympics, Andrea Heitmeyer and Michelle Boyles, will make presentations at the event.

Discovery Story set
A Hancock Park District Discovery Story about ducks will be held at 10 a.m. and 1 p.m. Monday in the Discovery Center at Oakwoods Nature Preserve.

The program is for children, 3 to 6 years old, with an adult companion.

The program includes a story, song and a craft.

Board meets today
ARLINGTON -- Arlington's school board will hold its regular meeting at 7 p.m. today in the high school library. Riverdale plans school screening
MOUNT BLANCHARD -- The Riverdale school district will hold kindergarten screenings on April 18-20.

The screenings will take place at Riverdale Elementary School in the kindergarten classrooms.

Parents who have children who will be 5 years old on or before Aug. 1 should call the elementary office at 419-694-2211 starting March 19 to register.

Parents should have their children registered by April 3. They will receive an information packet in the mail, which should be filled out and returned to the elementary office by April 10.

Parents are also asked to provide a copy of their child's birth certificate, shot records, the child's Social Security number, proof of residence and custody papers, if applicable.

Parents who reside in Riverdale School District need to resiter their child even if considering open enrollment to another district.

Runaway slave portrayal slated
BLUFFTON -- Black History Month will conclude at Bluffton University Wednesday with a one-woman portrayal of a runaway slave by historical interpreter Novella Slaughter.

Slaughter is from the National Underground Railroad Freedom Center in Cincinnati.

The presentation will be at 5 p.m. in The Commons in Marbeck Center, with a dinner at 6:30 p.m.

It is being hosted by Bluffton's multicultural affairs office and is free.

Brownfields topic of public meeting
A public information meeting on brownfields will be held from 5 p.m. to 6 p.m. Wednesday in Findlay council chambers, located on the first floor of the municipal building.

The meeting is being hosted by Hancock Regional Planning and TTL Associates, Inc., brownfield consultants from Toledo.

In April 2010, Hancock County was awarded a $1 million Brownfield Assessment Coalition Grant from the U.S. Environmental Protection Agency.

The goal of the grant is to create market-ready sites, increase property values and revitalize downtowns and surrounding neighborhoods.

Questions may be directed to William Homka, director of the Hancock Regional Planning Commission, by calling 419-424-7094.

Crime prevention specialist named
An officer with the Findlay Police Department was certified as a crime prevention specialist.

Officer Brian Dill received his certification from the Ohio Crime Prevention Association last month.

Dill is a 13-year veteran of the department and has served in crime prevention since April. He was named the Findlay Police Employees Association's officer of the year.

School screening slated in Arcadia
ARCADIA -- Kindergarten screening for Arcadia Local Schools will be held on Friday, April 20.

If you have a child who will be 5 years old on or before Aug. 1, contact the school at 419-894-6431, ext. 300, begining March 5 to schedule an appointment.

Parents should bring a copy of the child's birth certificate, immunization records, Social Security number and court custody papers, if applicable, to the screening.

Skywarn training offered in April
Skywarn training, sponsored by the National Weather Service, will be hosted at 6:30 p.m. April 2 at the Whirlpool Conference Center.

The training is free.

Local members of Amateur Radio Emergency Services are part of the Skywarn network, which uses volunteer storm spotters to help gather information for the National Weather Service during severe weather events.

Registrations will be taken 30 minutes before class starts.

For more information on Skywarn or becoming an amateur radio operator, contact Brent Stover at: http://www.wd8pnz@arrl.net.

Corrections
The Luther Club of First Lutheran Church will meet at 6 p.m. today at the church. Saturday's Church Events listing incorrectly said the meeting is scheduled for Thursday.

An incorrect phone number was listed Saturday for people who want more information about artist Roger Powell's annual Easter sand sculpture, or who want to volunteer to help. The correct phone number is 419-424-3220.

Aflac is located on the ground floor of the Blackford Building, Suite 103-104. A story Monday incorrectly listed the building it is in.

Kindergarten registration at Fostoria City Schools will be held March 27. An incorrect date was listed in a story Monday.

Read more here:
Winds halt Argyle demolition

HOUSTON, TX--(Marketwire -02/27/12)- Wood Partners, L.L.C., the nation's most active multifamily developer, announced today it will begin construction of Alta Woodlake Square, a $32.4 million luxury apartment community in the Westchase District.

The 256-unit development at 2630 Tanglewilde Street will be a three-story building featuring studio, one- and two-bedroom apartment homes.

"We love the location. We're at the southern entrance to one of the nicest neighborhoods in town," said Todd Gaines, Wood Partners development associate. "The site is minutes from major employment centers in the Westchase District, the Galleria and the Energy Corridor, which makes it very attractive for a multifamily project."

The community is adjacent to the revitalized Woodlake Square shopping center, which features a completely renovated Randall's Flagship grocery store, a Walgreen's drug store and a number of other high-quality retail tenants.

"Architecturally, we worked with AmREIT (which owns the shopping center) to complement their design, while still maintaining a residential feel," said Gaines.

Houston continues to experience strong demand for multifamily properties and robust job growth. A report by the Houston Association of REALTORS notes a "surge in consumers relocating to Houston from around the U.S. According to the Texas Workforce Commission's latest report, the Houston-Sugar Land-Baytown Metropolitan Statistical Area gained 66,300 jobs in the 12 months ending September 2011. That represents an increase of 2.6 percent."

The units at Alta Woodlake Square, which received the National Green Building Standard certification, will feature granite countertops, stainless steel appliances, under-mount sinks, subway tile backsplashes, vinyl plank flooring in kitchen and living areas. A washer and dryer are included in each unit, as well as garden tubs in the bathrooms.

Approximately half the units will be outfitted with a technology package including an in-wall iPod docking station and speakers mounted in living rooms.

The common areas will feature two courtyards with a zero-entry pool, barbecue grills, and outdoor kitchen with TV, water fountain, state-of-the-art fitness center and club room with kitchen and bar area.

Leasing for the project is expected to begin in March 2013, with the first move-ins the following June.

About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages multifamily communities.

Go here to see the original:
Wood Partners Announces Start of Construction on Alta Woodlake Square Apartment Community in Houston

Developer Holland Residential plans to break ground late this spring on a 40-story apartment tower in downtown Seattle, Vice President Tom Parsons said Monday.

The site, now a parking lot, is at Ninth Avenue and Pine Street, across the street from the Paramount Theater. Holland, one of the region's most active apartment developers, has signed a contract to buy the property from Seattle-based Security Properties, which won city approval for the tower in 2009.

Seattle is seeing an apartment-construction boom, with more units in the pipeline than at any time in the past 20 years.

But the Ninth and Pine tower, at 40 stories, would be by far the tallest.

Security, also a major apartment owner and developer, put the site up for sale last year. John Orehek, Security's president and CEO, said a year ago that despite the boom, rents still hadn't risen enough to cover the construction costs of a high-rise.

But Parsons noted that he and his team in 2008 completed a downtown high-rise condo, Fifteen Twenty-one Second Avenue, for their former employer, Opus Northwest. "We understand the 400-foot tower," he said.

Plus, "there are some sites in Seattle that are long-term great real estate, and that is absolutely the case with Ninth and Pine," he said.

The Washington State Convention Center and the Convention Place transit-tunnel station are steps away, and the site is within walking distance of downtown shops and offices.

Documents filed with city planners indicate Vancouver, Wash.-based Holland wants to modify Security's plans, increasing the number of apartments from 336 to 386. It also has proposed fewer parking spaces, more bicycle parking and less ground-floor retail space to allow for a larger lobby.

Holland already is building three projects with more than 600 apartments in South Lake Union and First Hill that are scheduled for completion within the next 12 months. It has two more South Lake Union complexes with an additional 300 units in the pipeline.

Eric Pryne: 206-464-2231 or epryne@seattletimes.com

See original here:
Work on 40-story downtown apartment tower set for spring

The sounds of cranes and bulldozers can be heard again in San Diego County as builders expect to finish nearly five times as many apartments this year as they did last year, the most since 2004, according to a local real estate analyst.

In the past few months, developers in Riverside County got the bureaucratic wheels turning for an apartment boom of their own to start in 2013, according to permit filings and local observers.

Apartment ownership became attractive in recent years as former homeowners with bad credit and younger people determined to preserve job mobility created enough demand to let landlords raise rents. Those fundamentals plus low interest rates made apartment buildings a prime target for institutional investors looking for safe investments in both counties.

"It's a nice rebound," said Russ Valone, founder of MarketPointe Realty Advisors, a homebuilder consultant.

San Diego County builders will deliver 1,991 apartment units this year, a big jump from the 400 units delivered last year, according to MarketPointe. San Diego County hasn't seen so many apartments completed since 2004, when builders produced 2,273 apartments.

In North County, a 108-unit apartment complex in San Marcos and a 198-unit project in Escondido should be ready for renters before the end of the year.

Apartment construction doesn't have as wide a ripple in the economy as single-family houses ---- more people can be housed at lower cost in an apartment complex ---- but the new buildings offer a beam of hope to long-suffering building-trades workers.

No apartments are under construction in Southwest Riverside County, but builders are scouting locations and securing permits, said Paul Runkle, a senior vice president with CBRE Inc. who is a multifamily specialist with an office in Temecula.

Last year in Riverside County, builders applied to put up 1,061 apartments, double the number of permits in 2010, according to the Construction Industry Research Board, a nonprofit.

"Some developers are now exploring development," Runkle said. "You wouldn't have heard that from me in the third quarter (summer) of 2011."

Few builders constructed rental units in the mid-2000s, as easy loans freed prospective renters to become homebuyers. But as the foreclosure crisis took hold and unemployment rose, former homeowners with ruined credit still needed a place to live, and they turned to apartments or house rentals.

Meanwhile, a younger generation saw friends and family trapped in houses they couldn't sell and chose to rent to preserve their mobility, Valone said.

"They're one of the first generations to see significant drops in real estate values," he said. "They don't have that 'I have to buy because real estate always goes up' attitude."

The twin forces created strong demand for apartments, which pushed down vacancy rates and raised rents.

As of the end of September, the most recent data available, vacancy rates in San Diego County fell 1.10 percentage points to 3.4 percent, and the average effective rent rose 2.2 percent to $1,287, according to Marcus & Millichap Real Estate Investment Services.

"The apartment fundamentals are at a point now where they're the best they've ever been ---- potentially ever," said Brian Hansen, a director at Wood Partners, the company putting up the complex in San Marcos.

That strong demand means apartment-complex owners can be assured of a steady income, even if the sale value of apartment buildings remains unchanged. Investors, especially institutional investors like pension funds, worried about volatile stock and commodity markets and turned to top-quality apartment buildings as an option, said Darcy Miramontes, an apartment building broker with Jones Lang LaSalle, a commercial real estate brokerage.

At the same time, interest rates have been very low, making it easier for developers to attract investor money at low cost so they could start construction, Miramontes said.

"Apartment buildings are the darling of the commercial investment market," Miramontes said.

Southwest County lags San Diego County in the overall economic cycle. High unemployment there forced parents and children to double up on housing, reducing demand. But there's also a shortage of rentals, creating an opportunity for builders, said Bill Blankenship, CEO of the Building Industry Association in Riverside County.

And the worst of the foreclosure crisis may be ending as the economy starts to rebound.

"We're at the bottom of a cycle and coming out of it," Runkle said.

Call staff writer Eric Wolff at 760-303-1927, follow him on Twitter @ericwolff.

See original here:
HOUSING: Apartment construction rebounding

By JOY BROWN

STAFF WRITER

Work to remove the top of the burned Argyle apartment building in downtown Findlay was slowed Sunday by the poor condition of the 122-year-old building.

Service-Safety Director Paul Schmelzer said Alvada Construction Co. workers started shoring up the walls of the four-story building and dismantling the top floor Saturday night, and work continued Sunday.

But the eastern top of the building, which officials are most concerned about because it is bowed out toward South Main Street, is crumbling, Schmelzer said. Its condition is forcing workers to remove small chunks of the building, using cranes.

The building was more damaged by fire, water and the elements than originally thought, he said.

The project's scope hasn't changed, but "it's become a little more difficult," Schmelzer said Sunday.

Schmelzer also said high wind was expected to return Sunday night, which could force crews to halt what they're doing for safety reasons.

Once most of the fourth-floor walls are removed, officials believe the building will be stable enough for investigators to enter and look for the cause of Thursday's fire.

Schmelzer said he then hopes to get Main Street reopened, and allow access to the Argyle building by tenants and insurance adjusters, "sometime Tuesday afternoon."

"This is not all great news, but we're progressing," Schmelzer said.

A structural engineer hired by the city on Friday recommended the fourth-floor demolition. The roof fell in during the fire, and the upper walls are not connected to anything else. Below, "everything is still tied together" and structurally sound, Schmelzer said.

Structural integrity has been compromised not just by the blaze, but by high wind and the large amount of water used to fight Thursday's fire. The water has been expanding and contracting as it freezes and thaws.

"For the businesses under the Argyle (apartments), you can expect the worst" in terms of damage, Fire Chief Tom Lonyo told affected business owners over the weekend. "Over four million gallons of water were poured into that building and it all ran down."

"Every day it (the structure) gets worse. As of (Friday) the building had moved again," Lonyo said.

"This is a moving target," said Findlay Fire Investigator Eric Habegger. "We don't know what types of problems we're going to get into."

Main Street, from Sandusky to Lincoln streets, continues to be closed.

But some businesses on that part of Main Street are open, despite being within a barricaded area.

They include: Bryant Shoes; Glass City Window and Door; the Heck Professional Building, which includes Jerry Payne Agency, Patti Baumgartner-Novak, Damon D. Alt, Bolotin Law, Charles Boyk, and AFLAC; the Arts Partnership; Ambrosia Tanning; Guitar Ranch; Dress for Less; Romans; Core Fitness; Northwestern Mutual; Central Marathon (accessible from East Lincoln Street); RCM Architects and Engineers; Ameriprise Financial; Elks Club; Trends on Main; Property Analysts; Main Street Deli; Massage Professionals of Ohio; the Blackford Building, which includes Moyer Financial Services, Bosse Financial Services, CBC Companies, Noggle Law, TFC Architects, Lisa Miller Law, and Golden Feather Photographic Art; Scrambler Marie's; Hancock County Probation Office; Eastman & Smith Law; and Chase Bank.

Apartments above these stores and offices also remain open, according to the Findlay Fire Department.

Brown: 419-427-8496

Send an e-mail to Joy Brown

Twitter: @CourierJoy

Read more from the original source:
Building's poor condition slowing demolition work