The Confederation of Real Estate Developers Association of India (CREDAI) Calicut chapter and several trade and industry organisations have opposed the newly brought out Kerala Municipality and Panchayat Building rules saying that the provisions would have a detrimental impact on the development of several sectors.

At a news conference here on Tuesday, CREDAI office bearers M.A. Mehaboob and K. Arunkumar urged the government to desist from the move to implement the newly-framed rules. Before drafting the rules, the government ought to have held consultations with the representatives of the construction industry and other related sectors, they said.

They said that construction segment had not come out of the difficulties following the demonetisation, implementation of the Goods and Service Tax and the floods that hit the State. If the new rules were implemented, hundreds of establishments would be closed down. Besides, about 8,000 engineers and 18 lakh workers would be rendered jobless. This would also have a severe bearing on the economy of the State. They said the new rule stipulated that more space is required for the construction of a house. But this was impossible in a State that had the highest density of population in the country. Home aspirants would also have to shoulder additional burden by paying more for land.

The cost of construction would also increase manifold if the rules were executed in toto. Any apartment or complex above four-storey would be categorsied as high-rise building, they said.

The Malabar Chamber of Commerce, Kerala State Small Scale Industries Association, LENSFED, Builders Association of India, Indian Institute of Architects, Calicut Chamber of Industry, The Institute of Engineersalso supported the demand of CREDAI to withdraw the rules.

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Apartments were constructed and playgrounds were built. All of that and more has molded Sheboygan County into what it is today.

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SHEBOYGAN - In the past 10 years, Sheboygan County has seen building expansions, new businesses, increased community spaces and other growth thanks to over $1 billion of investments.

The Sheboygan County Economic Development Corporation celebrated that growth at its 10th annual meeting on Wednesday.There were acrobats from Sheboygan Falls, vendor booths with innovators from across the county and an opening statement given by David Kohler, president and CEO of Kohler Co.

Among the award-giving and the looking forward, there was a video that took time to reflect back on some of the pivotal ways Sheboygan County transformed over the past decade.

Here aresome of the highlights from the video:

More: The Office is coming to Sheboygan, but don't expect to see Michael Scott | Streetwise

More: Here's how a new Sheboygan nonprofit aims to make child care more accessible for local families

More: These Sheboygan County restaurants will be open on Thanksgiving | Streetwise

Reach AnnMarie Hilton at ahilton@gannett.com. Follow her on Twitter at @hilton_annmarie.

Read or Share this story: https://www.sheboyganpress.com/story/news/2019/11/18/sheboygan-county-saw-1-billion-investment-over-past-decade/4202630002/

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Here's what 10 years and $1 billion of investments did for Sheboygan County - Sheboygan Press

A 38 North exclusive with analysis by Frank V. Pabian

While activities at North Koreas Yongbyon Nuclear Scientific Research Center have been well documented over the years, serious efforts to upgrade and expand the adjacent Yongbyon City[1] have also been underway since 2002, including the addition of several new housing and apartment complexes and the construction of leisure and entertainment facilities.

Rewarding scientific communities with new, more modern housing has been common since Kim Jong Un came to power, reflecting his emphasis on the importance of science and technology to North Koreas future. At the same time, there is no evidence that the older housing complexes at Yongbyon City are being demolished, giving the impression that the number of personnel living there now or expected in the future is increasing. This would suggest a growth in the numbers of personnel at the nuclear complex as well.

Expansion of Yongbyon City

Yongbyon City is home to the personnel who work at the adjacent nuclear research center. It is comprised of several housing units and leisure facilities.The oldest commercial satellite imagery freely available via Google Earth of this area is from April 2002.[2] Figure 1 provides a timeline of the citys expansion over the past 17 years.

Figure 1. Timeline of Yongbyon City expansion.

The city is divided into three personnel housing and logistical support sectorsnorth, west and southwhich surround a city center comprised primarily of large civic buildings. Significant construction can be observed in the housing sectors over the 17-year period.

Within the city center, there are several amenities. The largest of these central buildings is made up of two massive meeting halls covering approximately 400 square meters. One of the halls was constructed before 2002, and the second was nearing completion in April 2002. Around the corner from the meeting halls, a probable performance hall was constructed between 2007 and 2010. Next to that, a probable cultural center (based on the historical Korean architectural style) was completed by late 2011. Construction began in 2018 for a newer civic building, but then was quickly abandoned. It restarted in June 2019 and has proceeded rapidly since then.

Figure 2. Construction of city center facilities.

Left: Image: Google Earth, annotation by 38 North. Right: Satellite image 2019 Maxar Technologies. All rights reserved. For media licensing options, please contact [emailprotected]

Throughout this time period, several houses, apartment blocks and more ornate apartment towers have been added in all three personnel housing sectors.

Figure 3. Rapid progress on a major apartment project in the northern housing sector between March and September 2019.

Figure 4. Close-up of a monument area south of the main road between Yongbyon City and the Nuclear Scientific Research Center. The portraits of Kim Il Sung and Kim Jong Il can be seen across this 25-meter-wide monument.

Originally posted here:
Multi-Year Expansion of North Korea's Yongbyon City - 38 North

Apartment buildings

Apartment developments, leasing, and rentals are on the rise. More individuals are seeking apartments lease agreements over a mortgageAs the housing market has shown increases over the past few years, apartment developments, leases, and rentals have continued to dramatically remain the dominant leader in real estate. Those who are seeking to develop apartment buildings should consider modular construction. This option not only offers you a quicker method of construction at the same standards as traditional constructions, but the modular construction also allows you to build more units for less.

Perhaps most importantly, modular construction is considerably faster than building from the ground up. We assemble units individually in our factory and ship them to your worksite ready to install. Shorter lead times allow units to be rented out sooner so youll see a faster return on your investment.

As you order the construction of a modular apartment building from Astel Modular, getting the most for your construction budget doesnt have to mean cutting corners. We employ strict controls to ensure you remain on-budget and on-schedule lowering your labor costs and time to occupancy.

We can assure the high quality of our products as Astel Modular is accredited to ISO 9001 and ISO 14001 sertificates.

The price of a modular home does not include the foundation.

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*GRAND OPENING INCENTIVE!!! ** DON'T MISS OUT! * CALL OR STOP IN TO TOUR THIS BRAND NEW LUXURY COMMUNITY! * ** Visit our model apartments and experience life at 444 today!! ***NO APPOINTMENT NEEDED! - STOP IN ANYTIME - SEE LEASE OFFICE HOURS BELOW ******

Prices and availability subject to change without notice.

Prices and availability subject to change without notice.

If you want the Convenience, Comfort, and Style of a BRAND NEW APARTMENT ... located within walking distance of the MetroPark Train Station and The Oak Tree Road Shopping District, 444 Lincoln is the perfect address for you. Set in the bustling heart of the Woodbridge - Edison area, 444 boasts easy access to the Garden State Parkway, NJ Turnpike, and Routes 1 & 9, as well as to both Woodbridge & Menlo Park Shopping Malls....** 444 offers exciting amenities unique to this area ** * COVERED PARKING - Why deal with snow, ice & rain ? You'll receive an assigned covered parking space free of charge ** ELEVATOR BUILDING - Forget about lugging groceries up flights of stairs. 444 is the only local residential building with an elevator! ** ADVANCED SOUND REDUCTION TECHNOLOGY - 444 is built with special features to minimize sound & create a peaceful living environment ** SMOKE FREE ENVIRONMENT - 444 strictly enforces a smoke free building policy for cleaner & healthier air ** NO PET POLICY - We all love pets but most of our tenants enjoy the quiet, comfort and clean surroundings this policy provides * Our other popular amenities include : private package delivery boxes, trash chutes on every floor, controlled access, washer/dryer in each apartment and much more! *Our fabulous one and two-bedroom apartments feature bright, open layouts with such upscale features as laminated hardwood floors, an island kitchen, with stainless steel appliances, roomy baths with tiled floors and tub enclosures with elegant glass sliding doors plus plenty of closet space. *At 444, you'll live in Style! Characterized by large windows and abundant natural light, the two-story lobby and bright hallways are accented with classic crown and picture frame moldings with decorative sconces. Each of the building's four floors features its own lobby/gathering area complete with a sofa, chairs and desk. 444 also complements your active lifestyle. *** CONVENIENCE ... COMFORT .. STYLE! *** Visit our model apartments and experience life at 444 today!! ***NO APPOINTMENT NEEDED! - STOP IN ANYTIME - SEE LEASE OFFICE HOURS BELOW ******

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Part of New Jersey's Woodbridge Township, Iselin is a cozy suburban community with a twist -- many of the businesses downtown feature Indian cuisine and clothing, such as the Saree Bazar, Indian Couture, Khajana Boutique, Kandahar Restaurant, and Ali Babba Sweets & Restaurant. In addition to being a popular dining and shopping destination, Iselin is home to the popular Merrill Park. Located along the Rahway River, the park covers 179 acres and includes three playgrounds, the Woodbridge Township Progressive Playground, ball fields, basketball courts, four tennis courts, and picnic areas.

Ideal for commuters, Iselin is home to the Metropark Station, an Amtrak train station. This commuter train takes residents to Manhattan and Philadelphia in less than an hour. Metropark is one of the busiest stations in New Jersey, with more than 6,000 people passing through the station every day.

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There are two ways to understand the overall cost to build apartments. You can determine the budget for building an apartment either by measuring the price per apartment unit or simply a rough estimate of the entire building complex. Essentially, a single building complex may contain one or more apartment unit. According to the U.S. Energy Information Administration, the standard size of an apartment unit is 861 square feet with a footprint of 24 feet by 35 feet (2435).

Each unit roughly costs anywhere between $64,575 and $86,100. But when it comes to the cost of an entire building complex, theres more to simply crunching the figures based on the average unit cost. For calculating labor cost and basic building components, let us defer to the 2013 RSMeans data.

Let us say for instance that you are building a three-story complex with around 12 apartment units. Hence, the standard assumptions include the other following details:

So how much does it cost to build an apartment? The total building cost estimate for union labor type of project is roughly $3,461,400. But for an open shop variety, the total cost is relatively less expensive with approximately $3,177,900.

Apart from labor and basic structural components, you also need to factor in roughly $4.65 million worth of materials and over $232,000 worth budget for the machinery, the total apartment construction costs would entail roughly $9-9.4 million.

You may also need to cover the cost of insurancefor unexpected circumstances like fire, theft e.t.c

When a prospective investor like you would ask how much does it cost to build an apartment?, at times one cant help but ask another question given the total $9.4 million cost. As much as return on investment is concerned, the best way to understand it is to compare its advantages over investing in single housing units. Here are the following benefits of investing in an apartment building complex:

With single houses, there is only either 100% or 0% occupancy. One vacancy of, lets say 5 houses, can already deal a ruthless blow to your cash flow. Moreover, an apartment rental has a wider range of buyers or tenants since single young adult occupants and senior citizens can better afford a unit than an entire house and lot. One of the stronger guarantees for a larger pool of buyers is that in apartment buildings, home buyers can avail more government-funded programs.

Simply put it, it is harder to keep an eye on several buildings than one. A lot of things can come into play when consolidating all real estate property into one building. Case in point: an entire apartment building has fewer assessments and set of regulations.

In fact, it costs more to build 5 houses than build more than 5 apartment units in a single building. In line with this, each single house is more challenging to maintain because there are less uniform regulations. Case in point: homes with pets and children require more oversight and potential maintenance expenses.

When it all comes down to it, you as an investor can even live in one of these units in the building. Hence, you have more incentive for sprucing up your entire building premises. The Federal National Mortgage Association (FNMA) imposes a limit on lending when investing in single family housing units. You have a better chance of being less burdened when financing apartment buildings.

Considering that the cost to build apartments relatively exorbitant, you can still come up with clever ways to reduce the overall expenses. Curiously, the two aspects of the entire building project that can be conveniently configured are the materials and the building layout. By tapping into these two components, you can significantly reduce not only the building costs but also its maintenance for the long-run operation.

As per a few architectural experts online, it is possible to maximize the buildings effectiveness by eliminating corridors. A steep vertical building with fewer corridors can have an overall efficiency of as much as 90%. Long corridors needed to be lit, swept clean and air-conditioned. Reducing corridors would mean reducing inefficient use of electricity as well as lesser demand for custodian services. In terms of ventilation and navigation, minimized corridors can save you 25% to 30% of the overall circulation area. It roughly translates to $3 million savings for a $60 million overall budget.

Back in the days, the idea of using eco-friendly building materials only meant fractionally reducing energy bills. After all, some materials can practically minimize the need for using up too much electricity to power an HVAC system due to better insulation and solar energy obstruction.

But nowadays, the idea of going green means getting an Energy Star rating for the buildings comprised of eco-friendly materials. In other words, both government and private authorities are keen on granting tax rebates for homeowners whose properties are accredited with Energy Star or LEED rating.

The same can be said about real estate investors too. In fact, in 2015 a lending company called Fannie Mae drops 4% to 3.9% for any investor whose apartment building qualifies with Energy Star or LEED certification. This means over $95,000 savings for a $10 million loan owed for 30 years.

Your budget for contractors comprised a very significant percentage of your overall apartment construction costs. It goes without saying that acquiring cheap labor expenses can help you a great deal. Note: the names of these locations in the United States are identified per the nationwide comparison of average expenses. These are the following cities that offer a discount:

Maxton, North Carolina = 26% less

Kissimmee, Florida = 20% less

Modesto, California = 12% less

Louisville, Kentucky = 7% less

Salt Lake, Utah = 6% less

San Antonio, Texas = 4% less

Colorado Springs, Colorado = 3% less

Jacksonville, Florida = 1% less

Buffalo, New York = 1% less

Phoenix, Arizona = flat price

Originally posted here:
How Much Does It Cost To Build An Apartment In 2019 ...

In the realm of architecture, each project is unique and along with every individual project comes its own cost-driving program elements. Apartment buildings are no exception to this rule, as they can be as simple as a 3-story walk-up or as complex as an urban development project with various construction limitations.

When projects are initially budgeted for, RSMeans data can be implemented for background information; however, construction costs for apartment buildings cannot always be pinpointed to an absolute number, particularly in areas where the housing boom has sharply increased construction costs and a shortage of skilled labor.

In many cases, firms will use historical data from past projects and extract elements that are common to the proposed project. Because construction costs for apartment buildings vary greatly based on economic and market trends of the current year, the location theyre being constructed in, and other variables, determining an average national cost can become somewhat elusive. hmm

In this article, well explore the variables found in commercial construction across the U.S., along with tips and tools to estimate the cost of building a commercial apartment building.

When it comes to determining the cost of commercial apartments, many factors must be taken into consideration, including building practices, the cost of labor, the cost of land, and to some extent, the cost of the materials. Because these tangential costs can differ greatly from location to location, and are dependent on the nature of the particular apartment building being constructed, it is difficult to provide a one-size-fits-all answer.

Although the National Association of Home Builders (NAHB) can provide a broad idea of construction costs for an average home, it is not an ideal tool for estimating costs for a commercial apartment building. Companies that provide more specific cost estimating, usually for a fee, include RSMeansandMarshall & Swift. These costs include all of the builders expenditures that go into a particular item, including labor costs paid directly by the general contractor, the cost of hiring subcontractors, and the cost of materials.

So, the question still remains: what does it cost to build an apartment building? As mentioned, there are a huge number of variables in such a question for example, apartments come as low-rise, mid-rise, and high-rise architectural styles. For the purpose of this discussion, we will look at the mid-rise buildings with five or more units in each. According to the U.S. Energy Information Administration, the size of the average apartment is 861 square feet, which assumes a footprint of approximately24x35. The building of single mid-rise complex would never be a DIY project, and typically requires a knowledgeable contractor, an architect, a team of subcontractors, and cooperative owner to get the job completed within a calendar year.

For the building of an apartment building with twelve units, the typical costs include:

Most owners rely on both an architect and a contractor, and the architect will require approximately10 17% of the total building budget. Below, a breakdown of services each professional traditionally provides, along with an overview of what to expect in a general commercial apartment buildout:

An architect will:

A contractor will:

A general apartment construction project will cover such items as:

Did You Know

The shape of the outside perimeter is also an important consideration in estimating the total construction cost. Generally, the more complex the shape, the more expensive the structure per square foot of floor area. The shape classification of multiple story or split-level structures is based on the outline formed by the outer most exterior walls, regardless of the varying level. Most structures have 4, 6, 8 or 10 corners. Small insets not requiring a change in the roof shape can be ignored when determining the shape.

For instance, in the 30-unit apartment development described above, the developer would have to invest $4,500,000 of equity (i.e., $150,000 per unit or 35% of the total cost). Most real estate developers would not invest all of the capital themselves, especially if they have a few real estate projects underway at any one time. Instead, they raise the equity capital, usually from an investment fund, and those outside investors put up 80-90% of the money (e.g., $3,600,000 to $4,050,000 of the total).

Above all, it is crucial to prepare for cost overruns when determining the costs for the construction of a new apartment building. If you can actively remember that the finished cost of an apartment is often more than the original bid price, you can work to avoid this outcome. In some instances, budgets can easily be eaten up on high-end materials, such as flooring, vaulted ceilings, elaborate landscaping and so on.

However, the investment made in such luxury fixtures and materials can be recouped, as the price of your property increases exponentially, both in real estate value and as a source of income (i.e., higher rental potential). When something is chosen that is outside the contract, this is called a change order, and if you are working with an experienced builder, they should be able to quantify these upcharges for you so you can make an informed decision.

Start by working with your new home builderto create as detailed a construction contract as possible. The more detail this contact reveals, the more accurate your estimated new apartment building costs will be, and the more likely you are to stay within your budget.

Some key components to identify in your contract should include:

Although there are wide variances in cost when it comes to commercial apartment construction, one thing is for certain with the proper planning and budgeting in place at the onset of your project, you can achieve your goals while staying within budget. In the end, it makes good business sense to figure in an additional 10% to cover unexpected costs; however, a seasoned commercial builder should be able to help you adhere to your budget.

Using tools such as ProEstsRSMeans building construction cost data, you cantrack labor and material cost changes can also be highly beneficial our database has the key information you need through every phase of your construction project. From Civil Cost Construction Data to Commercial Construction Cost Data, we have the estimating products and services to help you create profitable and competitive bids.

Our easy-to-use General Contractor Estimating Software helps you quickly respond to customer bids while accurately calculating the cost of any size project.

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Apartment Building Construction Cost Breakdown - proest.com

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Title: A loud construction on our apartment building, and its expected to last 2 years, can i do anything as an apartment owner if theyve never asked for my consent?

Original Post:

My apartment building randomly decided to start a construction on the building itself, and the people are working right outside of my bedroom window and waking up with a headache every day isnt the most ideal way to start the day. The construction is expected to last two years and I was wondering whether I, as an owner of the apartment, can do anything to change the situation?

Thanks in advance!

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A loud construction on our apartment building, and its ...

May 2017

CHICAGO Construction is officially underway on a new 47-story apartment tower at 1326 S. Michigan Avenue in Chicagos South Loop neighborhood.

Being built by Walsh Construction, and designed by Solomon Cordwell Buenz (SCB), the tower will contain 500 luxury rental units, 7,500 square feet of retail, and 188 parking spaces. The design features a unique glass faade and a wide-range of amenities including co-working space, library, lounge, dog park, green spaces, a spa and rooftop pool.

The apartment tower is being developed by Chicago-based Murphy Development Group and Los Angeles-based CIM Group. The structure is slated to open in mid-2019 and will be built to LEED Certified standards.

This project will add to Walshs portfolio of recent luxury high-rise construction in Chicagos South Loop. The firm is currently constructing Alta Roosevelt, a 33-story apartment building, and recently completed 1001 South State, an amenitiy-filled 40-story tower.

Walsh Construction is a part of The Walsh Group, a 119-year-old family-owned company providing design, build, finance, operation and activation services. The Walsh Group operates as Walsh Construction, Archer Western and Walsh Canada across 19 regional offices. The company is listed as the 11th largest contractor in the United States per Engineering News-Record.

(Pictured L-R: Murphy Development's Chris Horney, SCB's Bradley Schnee, Walsh Construction's Sean Walsh, SCB's Brian Romanelli, Walsh Construction's Dan Walsh, Ald. Ed Burke (14th Ward); Ald. Pat Dowell (3rd Ward); Murphy Development's John Murphy, CIM Group's Ryan Harter, SCB's Gary Kohn, CIM Group's Matt King and SCB's John Lahey)

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Construction Begins on New Apartment Tower at 1326 S. Michigan

The Mid-Atlantics premier multifamily builders

As an affiliate of ROSS Development & Investment (RDI) and ROSS Management Services, Inc. (RMS), ROSS Renovation & Construction, LLC, (RRC) provides the construction management skills required to successfully complete the physical aspects of the value creation process for the acquisition of multifamily rental or conversion to condominium communities. RRC executes the structural and aesthetic work that helps to create, enhance and preserve value, providing favorable returns to investors and a superior product to residents.

ROSS Renovation & Construction (RRC) has been responsible for coordinating the construction renovation of more than 80 projects including five building conversions from rental to condominium. Well known for attention to details, quality and timely execution, RRC has managed and executed more than 20,000 unit renovations on multifamily communities in the Mid-Atlantic region.

RRC incorporates and coordinates all required disciplines as necessary for the construction process of each project; including architectural, mechanical, electrical, plumbing, structural, and environmental analysis and design.

RRC works seamlessly with ROSS Development & Investment and ROSS Management Services to ensure all required capital improvements and deferred maintenance are captured in the evaluation budgeting process and to ensure asset preservation for ownership.

Restoring, repairing and improving the mechanical systems of multifamily assets are some of the most important aspects of our multifamily operations. ROSS protocol calls for holding daily/weekly/monthly inspections on all common areas. We conduct an extensive preventive maintenance program for heating and cooling utilizing our site staff, and supplement it with HVAC professionals. Utility costs are managed using retrofits, installing new lighting and taking full advantage of applicable rebate programs.

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Apartment Renovations And Construction | ROSS Companies