Home » Apartment Building Construction » Page 23
Page 23«..1020..22232425..3040..»
The shows curators, Nicholas Dagen Bloom, a scholar and advocate of public housing, and Matthias Altwicker, a Brooklyn architect, document the various ways midcentury public housing reformers replaced slum tenements mostly with far less dense forms of urbanism. All those high-rise slab buildings and H-, Y- and T-shaped housing complexes were designed to provide tenants with more light, air and open space. They were about replacing slum tenements with quasi-suburban developments. The same approach defined middle-class projects like Co-op City in the Bronx. Low density was the point of building towers in the park.
So while the notorious Lower East Side tenements described by Jacob Riis in How the Other Half Lives packed in some 1,100 people per acre, leaving only 13 percent of the tenement blocks as open space, Queensbridge Houses in Queens, from 1939 one of the largest public housing complexes in North America was built for 245 people per acre. Three-quarters of the site remained open space.
Public housing was designed to take people out of the city, Mr. Freemark said, but denser urban neighborhoods are where people with choice have almost always preferred to live.
He cited Chicago, where the densest neighborhoods are mostly on the wealthier North Side. In New York, the largely well-to-do Upper West Side is one of the densest neighborhoods in the city; underserved East New York, in Brooklyn, is one of the least dense. Few buildings in New York are more densely populated than London Terrace, in Chelsea. Designed around the same time as Tudor City, its a 22-story behemoth with some 1,600 apartments. To build it, Henry Mandel, Frenchs rival, demolished rowhouses along West 23rd Street between Ninth and 10th Avenues.
While Mandel imagined working-class tenants occupying London Terrace, over the years John OHara, Nicole Kidman and Debbie Harry moved into the building. In 2013, the television producer David Chase bought Susan Sontags penthouse at London Terrace for $9.65 million.
London Terrace was built to house 931 people per acre. Its nearly four times as densely populated as Queensbridge, 18 times as dense as Co-op City, closer to the density of city centers in Paris and Barcelona.
Original post:
Everything You Think You Know About Housing Is Probably Wrong - The New York Times
In the nearly six months since a four-storey apartment was evacuated in Fort Saskatchewan, the condos president is hopeful owners can repair the building, and its lawyer said that repair could take up to seven months and cost millions of dollars.
This has been a very long and difficult time for us. Those in the evacuated building are still paying their mortgages, taxes, and condo fees as well as rent on another place to live, said George Cook, president of the Riverview Estates Condominium Board, at a news conference Monday.
Cook and five members of the board represent 87 condo owners, including 44 families who were forced to evacuate the complex at 9930 100 Ave. after the city of Fort Saskatchewan declared it structurally unsafe on Aug. 2.
A neighbouring apartment does not carry the same risk but, as members of the same Riverview Estates corporation, its unit owners could also be responsible for bearing the cost of repairs.
As the magnitude of the repairs has continued to unfold, to say that we are in shock is an understatement. The extent of the repairs and effect of the financial burden is heartbreaking. Many are worried that people may lose their homes or investments over this crisis, said Cook.
Riverview Estates is planning an information meeting in March after what Cook described as an onerous and complicated process, including working with engineers and a cost consultant, to come up with cost-effective solutions, Cook said. He thanked everyone who had a hand in helping, including the Red Cross, which was able to provide temporary hotel stays and food for those who needed it, he said.
This could have happened to anybody, said Hugh Willis, lawyer for the condo corporation. If owners approve a rebuild, it could be completed in five to seven months, Willis said.
The buildings problems are primarily in the crawl space under the first floor, said Willis.
In August, he said those problems appeared to be related to flaws in the buildings construction.
An inspection report by the citys safety codes officer in July 2002, obtained by Postmedia through an access to information request, notes that the crawl space foundation has been backfilled, but at that point, no poly or poly cover had been installed yet. In March 2003, another report said there was minor touch-up and clean-up work to do, but the apartment, built by Nova Construction Ltd., was ready for occupancy.
When residents first started complaining about spongy floors last summer, structural engineers were brought in to inspect and the citys safety codes officer issued an evacuation order.
The engineering company behind the condominium complex, Jacobsen Hage Engineering, had its engineering permit cancelled just one year after the condos were built.
lijohnson@postmedia.com
twitter.com/reportrix
Visit link:
Owners hopeful evacuated condo can be repaired, but it could cost millions - Edmonton Journal
Fire safety of apartments is one of the many legacy issues to be faced by government and it cannot be long-fingered until there is a tragedy, writes Eamon O'Boyle of Chartered Fire Engineers and Event Safety Consultants
It is essential that high-risk buildings be identified, and the initial focus should be on buildings where people sleep overnight. These include apartments, hotels, hospitals, dormitories and student accommodation blocks.
Fire safety of apartments is one of the many legacy issues to be faced by government and it cannot be long-fingered until there is a tragedy, writes Eamon OBoyle of Chartered Fire Engineers and Event Safety Consultants.
The British government recently announced that it intends to fund the replacement of unsafe aluminium cladding on all high-rise apartments. In the context of the Grenfell fire tragedy the then prime minister Theresa May said that it was of paramount importance that everybody is able to feel and be safe in their homes.
This surprise announcement will resonate with the many residents of apartments and other buildings in Ireland that were not built according to fire safety regulations and standards during the years of the Celtic Tiger.
It is interesting that much attention has been focused on apartments, but these were not the only category of building constructed during the boom.
The statutory position in respect of fire safety in apartment buildings in Ireland has been found to be deficient and has been the subject of a great deal of media commentary over the past number of years.
The statutory imperatives are included in two enactments, the Fire Services Acts 1981 and 2003 and the Building Control Act 1990 -2014.
The Fire Services Act 1981 and 2003 require owners/occupiers of premises to ensure that their premises achieve and maintain an adequate standard of fire safety in order to safeguard occupants.
This is achieved by ensuring that adequate escape routes, emergency lighting, protection against fire spread, fire detection and alarm systems, furnishings and fittings, fire safety management and training of occupants are provided.
The Building Control Acts 1990-2014 are centred on the following principal areas:1.) Building Regulations (Building Standards) (Part B of the Second Schedule addresses Fire Safety)2.) Building Control Regulation and Administration of Fire Safety Certificates3.) Powers of Enforcement and Inspection
The building regulations require that buildings are safe in the event of fire. The aims of the fire safety element of the building regulations are to provide: Means of Escape (Regulation B1): Internal Spread of Fire (Linings) (Regulation B2): Internal Spread of Fire (Structure) (Regulation B3): External Fire Spread (Regulation B4 Facilities for Fire Services (Regulation B5)
Responsibility for compliance with fire safety requirements in all buildings are matters for: The owner The designer The builder
Each has different responsibilities, but it is essential they each discharge their responsibility fully to ensure the highest level of fire safety within dwellings.
Where a dwelling is occupied by a person other than the owner, the occupier has a duty of care to ensure they act responsibly in relation to fire safety arrangements.
In 2014, the Building Control System was revised. The overall objective is to achieve better building construction, in compliance with building regulations. This is achieved through: Identification of specific roles and responsibilities Statutory certification inspection plans Lodgment of compliance documents with building control authorities.
Breeches of either act carry criminal sanctions but also involve implications in respect of title necessary for property transfer purposes.
The enforcement of both enactments has attracted much negative commentary with a few high-profile cases being litigated in the highest courts.
Priory Hall has illustrated the inherent fire risks of many apartment blocks. In many cases fire safety certificates were not complied with and the inherent faults were not apparent to residents.
While Priory Hall has since been made safe it is not known how many other apartments throughout the country are still dangerous.
The absence of reliable data on the extent of the problem is a key issue to be faced. Based upon a review of planning applications received in respect of apartments between 2005 and 2008, this would suggest that up to 6,000 apartments were constructed nationally.
It is reasonable to expect that 75% will still have legacy issues and not be fully compliant with fire safety regulations and standards based on our experience.
It is essential that high-risk buildings be identified, and the initial focus should be on buildings where people sleep overnight. These include apartments, hotels, hospitals, dormitories and student accommodation blocks.
It is estimated that the typical cost of remedial work per apartment would be in the region of 15,000. Based on these estimates and of work already completed the cost could be in the region of 100 million.
It is worth noting that NAMA spent 100 million on bringing properties for which it had responsibility up to standard.
It worth noting that the response to date has been to change the regime of regulation for the future but it does not address the evidence of widespread non-compliance with fire safety regulations.
Indeed, there has been little or no debate or proposals on the structuring or financing of the necessary remediation.
Local authorities have the power to order building owners to carry out a fire risk assessment and report the inspection findings with an action plan to repair faults.
The most common faults are in relation to fire stopping which prevents smoke from moving from one apartment unit to another.
Fire stopping is hidden in wall cavities and partitions and its absence can only be detected by professional inspection.
The retro-fitting of fire stopping measures can be done by professional and competent builders within a short period once the extent to the risk is identified.
This work must be undertaken under professional supervision. The subsequent issuance of compliance reports will allow owners to feel safe and add to the national housing stock that can be bought and sold based on need without a cloud hanging over its safety.
Fire safety of apartments is one of the many legacy issues to be faced by government and it cannot be long-fingered until there is a tragedy.
The direct intervention of government, as in the case of pyrite, may be the only workable solution. Initially, an action plan to quantify the scale of the problem must now be undertaken. Work must then begin to rectify faults based on assessment of risk and priority.
Author:Eamon OBoyle, director, Eamon OBoyle & Associates, Chartered Fire Engineers and Event Safety Consultants.
Fire safety of apartments is one of the many legacy issues to be faced by government and it cannot be long-fingered until there is a tragedy, writes Eamon O'Boyle of Chartered Fire Engineers and Event Safety Consultants.The British government recently announced that it intends to fund the replacement of...
Read the original post:
Fire regulations and legacy issues from the Celtic Tiger years - Engineers Journal
A housing developer has submitted a planning applicationwith Warwick District Council to turn to the old Earl Clarendon pub building in Kenilworth into four apartments.
Leamington-based home development company, Esprit Homes Construction Ltd., bought the pub building last year for 383,500.
The development company has applied to change the use of the property from a public house at 127 Warwick Road to four apartments at the same location.
People can submit comments about the pending planning application through the Warwick District Council planning portal online.
Statements of support have been submitted by two companies on behalf of the Leamington developers.
Esprit Homes Construction hired Hub Transport Planning Ltd to provide access and transport advice for the proposed residential development.
The proposal to convert the former pub building into provide four residential apartments includes two two-bedroom and two one-bedroom dwellings.
The site is located on the eastern side of the A452 Warwick Road, approximately 350m south of Kenilworth town centre.
The proposed apartment scheme will provide six dedicated parking spaces to the rear of the building for the four apartments, all of which will be provided with an electric charging point.
The Hub Transport Planning report said the average car ownership for the Kenilworth area is 1.39 cars per household, and based on that average, the required parking level for the development would be 5.56 spaces (1.39 x 4 apartments).
The developers also instructed Cerda Planning Limited to prepare a planning statement to support the change of use application.
The Cerda Planning report said the Earl Clarendon public house ceased trading in February 2019.
The supporting planning report also said a development of eight apartments located at nearby 131 Warwick Road was granted planning permission in March 2018.
The access to the apartments would be through the existing private access drive between numbers 131 and 135 Warwick Road and through the rear car park of the existing apartment building.
Access to apartment number 1 would be from the rear of the building with pedestrian access to apartments, 2, 3 and 4 from the central courtyard and garden of the existing apartment block.
View original post here:
Plans to turn old Kenilworth pub building into apartments go to Warwick District Council - Kenilworth Weekly News
Category
Apartment Building Construction | Comments Off on Plans to turn old Kenilworth pub building into apartments go to Warwick District Council – Kenilworth Weekly News
Properties at 6525, 6559 and 6585 Sussex Avenue in Burnaby were sold for $40 million in May 2016. They have since been demolished to make way for a new development | File photo: Rob Kruyt
A judge has declined to award special costs against a businessman who was ordered to pay $1.15 million in outstanding commissions after flipping a bundle of Burnaby lowrise apartments for a $6.67 million profit.
In November 2015, Wenxue Wang had accepted offers on three adjacent lowrise apartment buildings at 6585, 6559 and 6525 Sussex Ave. in Metrotown for a total of $33.3 million, according to evidence presented at a 23-day civil trial last year.
He had signed an exclusive listing agreement with realtor Laura Zhao and her father Raymond Zhao, president of Vancouver Home Park Realty Ltd., according to court documents.
Wang had also agreed to pay them a $300,000 bonus for assembling the properties for him, the documents say.
Without telling the Zhaos, however, Wang began working with another agent, Robin Fu, and flipped the properties a few months later to a new buyer for $40 million, earning $6.67 million in profit.
When Raymond Zhao pressed Wang about the exclusive listing agreement, Zhao said Wang had told him to forget about it or he would sue him over the $300,000 bonus, according to the court documents.
Wang claimed the Zhaos had gotten him to sign the bonus agreement under false pretences and he hadnt been aware of it until he picked up his cheque from the sale.
Wang ended up suing the Zhaos for the return of the $300,000, and the Zhaos sued Wang for the unpaid commission.
This low-rise rental apartment on Sussex Avenue was demolished in late 2018 - Jennifer Gauthier
B.C. Supreme Court Justice Ward Branch, who described the two parties as being in separate evidentiary universes, said the claims ultimately came down to credibility and that he preferred the Zhaos evidence.
In a ruling in September, he granted the Zhaos claim and dismissed Wangs, ordering him to pay $1.5 million in outstanding commissions.
The Zhaos then argued Wang should be ordered to pay special costs because of a smear campaign they said he had waged against them in a deliberate and malicious effort to damage or destroy the business and personal reputations of Home Park and its principals through accusations of fraud and dishonesty, according to another ruling by Branch last week (January 21).
Special costs are awarded when the court finds one of the parties in a civil case has engaged in reprehensible conduct.
In his latest ruling, however, Branch declined to award the Zhaos special costs, saying Wangs allegations of fraud and dishonesty were insufficiently reprehensible.
Branch said it would be difficult for the Zhaos to argue the allegations of fraud against them were totally unfounded.
Branch noted evidence at trial had shown Laura Zhao had forged Wangs signature on a document, Raymond Zhao had overstated the Zhaos right to interest on Wangs deposits and Raymond Zhao mayhave exceeded the proper scope of his role as general manager of Home Park given he didnt have his own real estate licence.
Politicians held gold-coloured shovels at a ceremonial groundbreaking for a new 125-unit non-market rental project in Metrotown. - Kelvin Gawley
Branch ordered Wang to pay the Zhaos legal costs but ruled special costs against him were not warranted.
The Sussex apartments, meanwhile, have been demolished to make way for a new, 47-storey mixed-use tower and a 14-storey, non-market-rental apartment building.
The developer, Thind Properties, is working in partnership with the province, City of Burnaby and New Vista Society on the non-market-rental part of the project.
Construction began in April 2019.
Burnaby Now
Original post:
Land-assembly investor sued over $40m Burnaby flip gets reprieve from judge - Business in Vancouver
Category
Apartment Building Construction | Comments Off on Land-assembly investor sued over $40m Burnaby flip gets reprieve from judge – Business in Vancouver
The city of Iqaluit has raised municipal property taxes by three per cent for 2020 the fourth consecutive tax rise since 2016.
"A three per cent increase this year felt manageable and would allow us to make significant investment in our infrastructure," said city councillor Kyle Sheppard, chair of the city's finance committee.
Sheppard said council could have raised the mill rate by one, two or three per cent and opted for the greatest increase. It's expected to bring the city an extra $634,999.
A mill rate is the amount of tax payable per every $1,000 of assessed property value.
The previous city council voted to increase 2019 property taxes by five per cent to bring in an extra $433,298. The increase was to make up for raises in salaries, heating fuel and electricity.
"They took five per cent for the taxes, which was a huge increase, but that was eaten away by water breaks in the city," said Iqaluit Mayor Kenny Bell.
Bell says last year's waterline breaks cost about $700,000. These breaks contributed to the city's potable water shortage.
"We're taking more to make sure that we can at least try to replace things instead of just fixing existing problems," said Bell.
The money needed to fix the city's water infrastructure problems are far beyond any revenue the city could bring in through property taxes.
In the 2020 capital expenditure plan, the city budgets nearly $4 million for water system upgrades. These are things like pipeline replacements, repairs in the Happy Valley neighbourhood, and upgrades to the utilidors, the city's utilitypipes that run above and underground.
Another $1 million is budgeted for pumping water from the Apex River.
Property taxes are the largest source of revenue for the city of Iqaluit. In 2018 the city made $19,905,138 in taxes, according to the city's 2018 audited statements. This year, it expects to make $20,956,400.
Not all property tax revenue comes from single family homes.
The city breaks down its taxes into five mill rates:
Residential "7/8" is for single family units, such as a house or an individually owned condo. The other residential classification,"9/10" is for properties that have two or more family dwellings, such asan apartment building or full duplex.
There are other mill rates for commercial, industrial and institutional properties.
When the city says it is "raising property taxes," what they are actually doing is increasing the mill rate. So a three per cent increase in 2020 means the city is raising the previous year's mill rate by three per cent.
The city of Iqaluit has the power to change the mill rate. What they don't do is property assessments, which assess the value of your home.
This task falls to Gerry Towns and Chelsea Bradshaw of GT Property Assessment and Tax out of Edmonton. They also work for the Qikiqtaaluk Corporation and assess every property in the territory.
In Nunavut, there are two kinds of assessments: the general assessment that happens within 10 years of the previous general assessment, and the annual assessment that happens every year.
The general assessment creates a base upon which all properties are evaluated. It takes into account things like construction costs, zoning changes and inflation. In its calculation, the general assessment looks at property values from two years prior. The last time Iqaluit had a general assessment was in 2014, which means all properties in Iqaluit were assessed on the construction costs in 2012.
The next general assessment year is 2024, and everyone's property values are set to go up. That's because everyone's homes will be valued based on 2022 building construction costs.
Why on earth are things done like this? The idea is that if everyone is evaluated on the same base year, taxes will be distributed more fairly.
Butjust because everyone's property values are expected to go up in 2024, it doesn't mean your property taxes will skyrocket. The city will recalculate the mill rate for this year to make sure that doesn't happen.
According to Towns, in the last three general assessments, the mill rate in Iqaluit went down.
Annual assessments are less complicated. They calculate changes to the land or the building that affect its value, like the addition of a garage, or an extension to your house.
Go here to see the original:
Everything you need to know about Iqaluit's property taxes - CBC.ca
A new North Dallas apartment community in the works couldnt have a more high-profile location.
Florida-based developer ZOM is building the six-story, 403-unit rental project next door to the Dallas Galleria at Noel Road and LBJ Freeway.
The developer has filed more than $45 million in building permits to start the project, which is just west of the Dallas Midtown project on the former site of Valley View Mall.
ZOMs Jason Haun said its the last vacant corner on that side of the freeway.
The development location is part of a former automobile dealership site that has already seen construction of a hotel and two apartment communities by developer Mill Creek Residential.
Our project is immediately adjacent to the Mill Creek project that is just finishing up, Haun said.
That area of Dallas and Farmers Branch is one of the hottest current apartment building markets with multiple new projects on the way.
The huge redevelopment of the Valley View property includes more apartments plus office, hotel and retail space.
ZOM is one of the countrys most experienced apartment builders with projects across the U.S.
In the Dallas area, the developer is building a 41-story, 364-unit luxury rental high-rise called Atelier in downtown Dallas Arts District.
We are also just finishing up our 376-unit project in McKinney at State Highway 121 and Lake Forest Drive, Haun said.
Read more here:
New apartments in the works next to Dallas Galleria - The Dallas Morning News
The long-abandoned New Granada Theater finally seems ready for new life, anchoring a development that could be transformative for the Hill District.
The New Granada Square is a $45 million project, encompassing a city block, says Marimba Milliones, president and CEO of the Hill Community Development Corporation. It includes a historic restoration of the Granada building, a 24,000-square-foot office building, affordable artist-preference apartments and 7,500 square feet of commercial space beneath the apartments, with parking in the rear.
On Thursday, the Urban Redevelopment Authority of Pittsburgh (URA) voted to convey the land to the Hill Community Development Corporation and Cleveland-based CHN Housing Partners, for the mixed-use development.
Construction on the five-story, 40-unit apartment building available to those at or below 80% of the area median income is planned for this summer.
The theater alone is a multi-level, mixed-use project which will provide a range of functions.
Its not a traditional theater, where you just walk in and there are seats and a screen, says Milliones. Its a 3 1/2-story building. It will have commercial, institutional, cultural and community space, including a food hall and a small black box theater, and a multipurpose events space, that can house anything from a concert 926 seats to a conference, to a TED talk, to a large-scale event.
The top floor will be anchored by the University of Pittsburgh Community Engagement Center.
Im super-excited about the (Pitt) Department of African American Poetry & Poetics that will be housed there, as well as a STEAM studio, says Milliones.
The STEAM studio will focus on the intersection of science, technology, entertainment, arts and media, developed in partnership with the University of Pittsburgh.
The New Granada Theater, which is on the National Register of Historic Places, was designed by Louis A.S. Bellinger, one of Americas early African-American architects.
This is his last remaining structure, says Milliones. There are lots of interesting architectural components, and it also documents the need for African-American social space. It was designed as a Knights of Pythias temple; this was their fraternal hall. This space is important because it documented life at that time. Furthermore, Duke Ellington was named King of Jazz at New Granada, Louis Armstrong has played there, Earl Hines played there. In jazz culture, the New Granada has substantial importance.
Its a development that has enormous potential for Centre Avenue and the entire Hill District neighborhood.
Theres development, and theres development that really gets at the core of a city or neighborhoods identity, says Milliones. This is one of of those projects thats not only catalytic, but also is a tremendous nod to the history of the Hill District community and its importance to the city of Pittsburgh, historically.
Hill Community Development Corporationhill districtNew Granada Theater
Read more:
$45M New Granada Square project moves forward in the Hill District - NEXTpittsburgh
Demolition on the Amazon HQ2 site in Pentagon City is expected to begin soon.
The 2.1 million square foot office-and-retail development along S. Eads Street, the first phase of Amazons permanent second headquarters in Arlington, was approved by the County Board in December.
Now, construction equipment is being staged ahead of demolition of the two-story warehouse building and parking lot currently on the site. According to an off-the-record presentation given to local civic associations earlier this week, a slide from which was obtained by ARLnow, demolition and site preparation is scheduled to start within the next month or two.
Excavation will run from the second quarter of 2020 to the end of the year, while construction of the above-ground portion of the complex is expected to start in the second half of 2021. Construction and interior work is expected to wrap up by the middle of 2023, according to the presentation.
In the meantime, the growing contingent of Amazon employees in Arlington will work out of temporary office space in Crystal City.
Were looking forward to beginning demolition at the Metropolitan Park site in the very near future; some staging activity has already begun, an Amazon spokeswoman told ARLnow. Amazon is already here and were hiring. As the MetPark site takes shape, we will continue to grow the teams in our leased space in Crystal City, where we now have nearly 450 employees.
Its not yet clear whether Amazon will hold a groundbreaking ceremony as work at the Pentagon City site gets underway.
Some local residents, particularly those who live in apartment buildings across the street, have expressed concerns about construction noise from the project. Permitted working hours extend until 9 p.m. on weekdays, were told.
See more here:
Countdown to Construction: Equipment Being Staged at Amazon HQ2 Site - ARLnow
There might be fewer construction cranes downtown, but that doesnt mean the regions apartment frenzy has halted.
Much of 2020s apartment construction will be in neighborhoods outside of downtown San Diego, which has made up the lions share of new rentals the past few years. More building is now occurring in North Park, Hillcrest, Pacific Beach and throughout the county.
There are around 3,500 new apartments planned to open in 2020. Thats down from 4,500 expected at the start of last year, but early numbers show that total was likely not reached. Predicting how many apartments will open at the start of the year can be tricky because delays are frequent and one large project being postponed a few months can skew a yearly total.
Regardless, it appears the San Diego County apartment market is showing little signs of slowing as developers continue to benefit from ever-growing rent. Thats despite concerns over statewide rent control, changes for how developers submit projects downtown and fears of a slowing economy.
The difference this year is a lack of large-scale downtown developments, particularly the massive complexes in East Village and Little Italy that made the last few years seem like downtown was a giant construction site.
One of the downtowns biggest developers, Nat Bosa of Bosa Development, said there isnt a whole lot to read into a slowdown. Bosas Broadway Block apartment complex, with 620 apartments downtown, is set to open in 2021.
A little bit of slowing down in the apartment sector is not all bad, he said, because there has been a hell of a lot that came on scene. So, we need to absorb all that inventory.
The movement of many smaller apartment projects into San Diegos neighborhoods means higher density where single-family homes have dominated for a half-century.
One of those projects is Kansas Modern, a 24-unit complex in the heart of North Park that takes the place of three older single-family homes. Developer and architect Beri Varol said he is bullish on the apartment market in San Diego, especially in North Park where a lot of young professionals want to live.
Varols plan is to start rent at $2,100 a month for a one-bedroom and up to $3,400 for a two-bedroom. He said he has seen apartments going for the same rate, which he feels are lower quality, in the area.
I dont think well have a problem, honestly, he said of rental rates.
Varols company, BV Architecture + Development, is a boutique developer with smaller-scale projects similar to many of the developers dominating recent apartment construction with 20 to 50-unit apartment projects throughout the county.
As the name would suggest, the apartment is contemporary and likely to appeal to a millennial renter. It will hold a lot more on the site than the three houses that once sat there, including a new Moes Coffee on the ground floor, 17 parking spaces (it is still being decided how spots will be allocated), storage units for all apartments, an outdoor gathering area with a barbecue pit, large balconies for all apartments, and communal bikes (first come, first served ).
1/6
Inside of one of the soon to be completed ground floor apartments at the Kansas Modern apartments on Kansas Street and Howard Avenue in North Park, on Thursday, January 09, 2020. (John Gibbins/John Gibbins/San Diego Union-Tri)
2/6
Beri Varol, the architect and developer of the Kansas Modern apartments on Kansas Street and Howard Avenue in North Park, in one of the soon to be completed units on Thursday, January 09, 2020. (John Gibbins/John Gibbins/San Diego Union-Tri)
3/6
Plater crew getting read to work at the soon to be completed 24 unit Kansas Modern apartments on Kansas Street and Howard Avenue in North Park, on Thursday, January 09, 2020. (John Gibbins/John Gibbins/San Diego Union-Tri)
4/6
Exterior of the at the Kansas Modern apartments on Kansas Street and Howard Avenue in North Park, on Thursday, January 09, 2020. (John Gibbins/John Gibbins/San Diego Union-Tri)
5/6
Beri Varol, right, the architect and developer of the Kansas Modern apartments on Kansas Street and Howard Avenue in North Park, with Union-Tribune Real Estate reporter Phil Molnar, left, on Thursday, January 09, 2020. (John Gibbins/John Gibbins/San Diego Union-Tri)
6/6
Drone view of the soon to be completed 24 unit Kansas Modern apartments on Kansas Street and Howard Avenue in North Park, on Thursday, January 09, 2020. (John Gibbins/John Gibbins/San Diego Union-Tribune)
Kansas Modern, at 4195 Kansas St., will be a short walk to 30th Street near the Vons grocery store. From there, it is quick access on foot to North Parks bars, restaurants and shops. Varol said that is one of the main selling points of the project.
You are in the epicenter of everything that is exciting about North Park, he said.
Varol said he left out certain amenities that he felt werent crucial and, ultimately, meant the costs would not be passed on to renters. There is no elevator in the three-story building and no gym, considering how many there are in the area. The complex includes three rent-restricted apartments for low-income renters.
He said it cost $1.6 million to acquire the land for Kansas Modern, with a total development cost of $9.5 million. It is anticipated to open in early April 2020.
It would hard to find a better location for an apartment than The Collins, a luxury complex in La Jolla that is a short walk from the popular Windansea Beach.
The 15-unit apartment complex from the San Diego-based Murfey Co. is an example of repurposing a building to meet housing demand, albeit on a small scale. The Collins used to be the Nautilus Professional Building, built in 1964, which was mostly used for dental and medical offices.
It took about a year to convert the building, which Murfey Co. calls a sophisticated callback, sort of a contemporary style with retro leanings. The company bought the site, along with an adjacent building, for $9.15 million in June 2018. It declined to say the overall development cost for The Collins, which was designed by San Diego-based H2 Architects.
1/5
Souther side of the Collins luxury apartment complex on La Jolla Blvd. on Tuesday, January 14, 2020. (John Gibbins/John Gibbins/San Diego Union-Tribune)
2/5
L-r, developers Scott Murfey and his brother Russ Murphy inside one of their units at The Collins luxury apartment complex on La Jolla Blvd. on Tuesday, January 14, 2020. (John Gibbins/John Gibbins/San Diego Union-Tribune)
3/5
One of the bedrooms in a two bedroom unit of the Collins luxury apartment complex on La Jolla Blvd. on Tuesday, January 14, 2020. (John Gibbins/John Gibbins/San Diego Union-Tribune)
4/5
Derek Marso, owner of the Valley Farms Market, which is in the lower floor of the Collins luxury apartment complex on La Jolla Blvd., at the meat counter on Tuesday, January 14, 2020. (John Gibbins/John Gibbins/San Diego Union-Tribune)
5/5
Derek Marso, owner of the Valley Farms Market, which is in the lower floor of the Collins luxury apartment complex on La Jolla Blvd., walked towards the produce section on Tuesday, January 14, 2020. (John Gibbins/John Gibbins/San Diego Union-Tribune)
Russ Murfey, co-owner of Murfey Co., said he must have driven past the site with his brother Scott Murfey (also a co-owner) thousands of times and dreamed about what was possible. He said the building had been an eyesore for 20 years and wasnt serving the community.
It was really run down and needed a turnaround, he said. We saw the opportunity to give it a breath of fresh air.
The Collins only recently opened and was entirely pre-leased before doors opened. Rents started at $1,995 for a one-bedroom unit (average 650 square feet) and $2,595 for a two-bedroom apartment (average 1,000 square feet). There is one subsidized unit in the building for a renter earning under 50 percent of the area median income. About half the units have ocean views and the main amenity is its proximity to the beach. Russ Murfey said renters are a mix of young professionals and empty-nesters, and most are from the general area.
The four-story building is mixed-use with the Miller & Calhoon law office on the fourth floor and the Valley Farm Market grocery store on the first floor. It is the second location of the market, which has been in Spring Valley since 1956. The 5,000-square-foot grocery store seems to fit in with the La Jolla crowd, featuring organic produce, fresh seafood and meat without added hormones that is range fed.
The market is run by Derek Marso, grandson to the founders of the East County market, who said hes received hundreds of offers to open a new grocery store somewhere but this is the first time he found a good fit. Valley Farm Market opened in late November, but will likely host its official grand opening in a few weeks.
Rent profits arent what they used to be a few years ago, but it doesnt seem to be stopping developers.
As of the fourth quarter last year, rent was an average $1,850 a month, said real estate tracker CoStar. That was an increase of 3.2 percent in a year, which was down from the past few years when rent was increasing 5 to 7 percent annually.
The rent growth in San Diego County mirrors the economy coming out of the Great Recession. In the fourth quarter of 2010, rent was an average $1,341, and has been going up ever since rising 38 percent as of the end of 2019. CoStar forecasts rent will continue to increase through at least the fourth quarter of 2024.
In its latest multifamily market overview, real estate firm JLL wrote that demand for apartments would remain strong in San Diego County because of job growth and low unemployment. Other factors it noted were a diverse mix of industries, growing population and a substantial millennial population, 27 percent, the third-highest in the nation behind Austin and San Francisco.
Aerial drone view of the Collins luxury apartment complex on La Jolla Blvd. on Tuesday, January 14, 2020.
(John Gibbins/John Gibbins/San Diego Union-Tribune)
Adding to the renter pool is a highly educated population. JLL said 24 percent of residents over 25 years old have a bachelors degree, above the 20 percent national average.
Another potential advantage for apartment developers, JLL noted, was the dropping homeownership rate in the county. Nearly half of the region, 49 percent, are renters. Rapidly increasing home prices, already out of reach for most of the population, are expected to continue this trend.
Large real estate corporations might have reason to seek out the San Diego metro area as opposed to some other markets. San Diego had the ninth-highest rent of the 100 largest metro areas in December, Zumper said, with $1,780 a month for a one-bedroom.
That was more than Miami ($1,710 a month), Denver ($1,520), Chicago ($1,440) and Portland ($1,430).
There are a few things that could disrupt the market as the industry waits to see how everything is going to play out. First, the downtown planning agency Civic San Diego credited by JLL for quickly approving projects has been stripped of power and now it will be the responsibility of the city to handle downtown development. The city is still establishing a downtown staff, which may slow approvals for some time.
Second, there is rent control in San Diego County for the first time as of January. However, the new rent cap law only applies to older buildings (projects more than 15 years old) and increases will be capped at 7.2 percent. Rent never increased that much in a year in San Diego County going back to 2001, according to CoStar data.
Read the original here:
San Diego County: More than 3,000 new apartments coming this year, with most outside of downtown - The San Diego Union-Tribune
Category
Apartment Building Construction | Comments Off on San Diego County: More than 3,000 new apartments coming this year, with most outside of downtown – The San Diego Union-Tribune
« old entrysnew entrys »
Page 23«..1020..22232425..3040..»