David Alligood found a good fit in a small apartment when he transferred to Pittsburgh to supervise 12 regional stores for Target.

I live in a one-bedroom unit at River Vue, which is ideal for the amount of traveling I must do, said Alligood, 32, who wants to stay in the city where he has joined civic groups, runs in several races and enjoys the sports scene.

The North Carolina transplant fits into a trend that is driving an apartment building boom. According to data from the Census Bureau, builders nationwide broke ground on more apartment buildings during the past year than in any similar period since 1989. Higher home prices and mortgage rates are pushing young adults to rent instead.

In Pittsburgh, construction of apartments cooled off during the first six months of the year. New permits dropped by 50 percent from 2013, partly because of the severe winter, according to Ross-based research and consulting firm Tall Timber Group.

But demand from the key demographic young adults remains high, developers say. Investors, especially from out of town, are putting money into converting and upgrading apartments here to capture their business. The competition among young adults who see apartment living as a more affordable and flexible option than buying a home is pushing prices higher.

Landlords are not providing rent concessions. Rental rates are increasing 3 to 5 percent annually compared to 2 percent in the past. There has been high-paying job growth here, partially because of Marcellus shale, resulting in high rental rates a lot of newcomers to this region can afford, said Cindy Kamin, a commercial real estate broker with CBRE.

The increasing number of young professionals making Pittsburgh home are doing so in newer, trendy apartments that fit into their lifestyle, and developers are quickly looking to cater to that growing demographic. Oxford Development Co. has two projects under way, primarily aimed at renters age 25 to 34, said Shawn Fox director of development.

About 60 percent of the units are either studios or one-bedrooms because traditionally, these tenants do not spend a lot of time in their apartments, said Chuck Hammel of Pitt-Ohio Trucking, a partner with Oxford in the $60 million, 300-unit Three Crossings development set to open next spring in the Strip District.

Oxford's other development is the 117-unit Hot Metal Flats, a $24 million to $26 million development, set to open next spring in the South Side.

That 25-to-34 crowd is less interested in buying homes as they come out of school with heavy debt, fearful of a big mortgage, Kamin said. Some have not started their own families and don't view owning a house as a necessity.

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Young adults drive home rental trend in Western Pennsylvania

Demolition has been taking place on a former Park Ridge office building as plans move forward on a new luxury apartment complex.

Residential development firm Trammel Crow Company announced that the three-story, 115-unit apartment building proposed for 205 W. Touhy Ave. will be known as Park 205, with construction to begin within the last quarter of the year. Total completion is slated for late 2015.

The 3.6-acre site is next to Whole Foods and was formerly occupied by Advocate Health Care offices. Demolition crews began dismantling the building this month.

According to Trammel Crow, Park 205 will be the first LEED (Leadership in Energy and Environmental Design) certified multi-family building built in Park Ridge. Buildings can qualify for LEED certification based on how they use environmentally-friendly construction strategies.

Apartment units will consist of one, two or three bedrooms, with amenities that include a pool, sun deck, outdoor fire pits, cabanas, club room, fitness center, Wi-Fi coffee lounge, business center, dog spa, bicycle storage and heated parking.

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Construction begins on 115-unit Park Ridge apartment building

Standing amid scaffolding and building materials at the AQ Rittenhouse apartment and retail project in Center City on Wednesday, Stephen Pouppirt, president of Clemens Construction Co. Inc., almost couldn't keep count of all the major projects his company is handling this summer.

"A lot of projects," he said, "Maybe 20, four major ones, and we have many in the queue."

Pouppirt's contracts, including several in Center City, are part of what is ranking the Philadelphia metropolitan division third nationally in the number of construction jobs added in a year, according to a trade group's analysis of Labor Department numbers.

Philadelphia, along with Bucks, Chester, Delaware and Montgomery Counties, has added 8,500 construction jobs from July to July. Only Houston and Dallas have added more.

For example, Pouppirt's company will employ, at peak, 100 to 120 building trade workers at the AQ Rittenhouse Apartment project being developed by Aquinas Realty Partners of Havertown. The project, a 12-story building at 2021 Chestnut St., includes 110 apartments and street-level retail.

Philadelphia's deputy mayor for economic development, Alan Greenberger, said that the young-adult generation's desire to live in the city is fueling growth - both in residential and in commercial development as businesses "are locating here to be near talent."

The picture wasn't as pretty in September 2008.

"The fall of 2008 was like falling off a cliff," Pouppirt recalled.

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Phila. third in U.S. in new construction jobs

When Warren Madden was a student at Iowa State in the 1950s, Campustown was lined with sharply dressed students meandering along Lincoln Way exploring small local businesses, grocery stores, drug stores and suit and dress shops.

In the past 60 years, businesses have come and gone in Campustown, and Madden, senior vice president for business and finance, said the fluctuating economy and changes in university size and demographic are top factors.

Today, the Ames community is watching Campustown take on redevelopment. The area along Lincoln Way from Welch Avenue to Stanton Avenue is a sight of muddy holes in the ground beneath a looming crane that is preparing to lay the foundation of projects by Kingland Systems, Gilbane, Inc., The Opus Group and Randall Corporation.

Maddens student experience with Campustown is different than what a student might expect today. For instance, alcohol was nowhere to be found in Campustown and a few bars were located in downtown Ames, according to Madden.

Madden also said that student attire has also changed dramatically, affecting the shops in Campustown.

Students dont walk around in coats and ties and suits, Madden said. Women dont wear dresses the same way they used to. When I was a student at Iowa State, women wore skirts to class.

Changes in student commodity desires have attracted more stores such as chain restaurants, tattoo parlors, tanning salons and now more student housing, replacing smaller local shops throughout the years. Much of this, Madden said, was driven by the marketplace and the student enrollment increase at Iowa State.

The enrollment increase has attracted new business prospects looking into building in Campustown.

The student growth at Iowa State has built a need for additional houses, and the students become customers for businesses, Madden said.

Some of the housing project designs show six-story buildings, Madden said, with the top five stories housing students and the bottom floor hosting commercial and retail businesses.

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Under construction: Madden reflects on Campustowns shift

If you live in a major U.S. city and look out over the skyline, chances are good youll see construction cranes. Lots of them. Only twice in the past 25 years have new apartment buildings been going up as fast as they are right now. Thats not necessarily a good omen. The first time, in February 2000, was right before the dot-com bubble burst. The second time, January 2006, came right before the housing bubble burst. Now we learn that builders broke groundon 423,000 new multifamily units inJuly, right before who knows what?

Monthly building data released earlier this week by the Census Bureau and the Department of Housing and Urban Development showed that new home construction overall posted strong gains in July, with the highest number of new home starts in eight months. The comeback largely manifested in an uptick in apartment buildings with five or more units, which saw an almost 50 percent increase in new starts in July over a year earlier. By comparison, starts on single-family homes were up only about 10 percent over the same period.

Thats part of the reason that the Northeast, with its large, dense cities, saw the biggest monthly increase, up 44 percent from June. That matches the analysis byTrulia (TRLA) Chief Economist Jed Kolko, who found that among metro areas, Boston and New York are building more than in the past.

In the 25 years since 1989, the U.S. has started building at an average annual rate of about 248,000 new multifamily units. By that measure, our current 423,000 is a veritable boom. Still, construction in the the U.S. has come at a far faster pace in the past. During the 25 years leading up to 1989, builders broke ground on 467,000 units each year, on average. In the early 1970s, the rate briefly hit 1 million new units a year.

The recent building spree is a response to the current urban housing crunch. For a good part of the last quarter-century, the suburbs absorbed the growing population. They ran out of steam in the early 2000s, and citieswith mass transit and cultural cachethave made a comeback. As these new apartments come online, rents may ease. Just how much depends on just what kind of omen the figures for July 2014 turn out to be.

Originally posted here:
Apartment Construction Ominously Nears 25-Year High

In the four years since the approval of the Downtown Columbia Plan a master guiding document aimed at revitalizing the heart of Howard County's core city Columbia Town Center's progress toward becoming a true urban destination has been marked by the addition of high-profile restaurants and retailers, the renovation and expansion of city landmarks and the construction of a new, modern apartment building.

This week, its progress will be marked by what some say is the biggest boon so far: the opening of the county's first Whole Foods Market, which occurred Wednesday inside the community's iconic, Frank Gehry-designed lakefront building.

But, according to county officials, the revitalization is not just about adding mouth-watering restaurants, high-end retail and arguably the nation's most coveted grocer. It's also about putting in the work and making downtown a thriving employment center.

"There has to be more than just some great retail and cool apartments," said Mark Thompson, the county's director of downtown redevelopment. "For the Downtown Columbia Plan to be successful, the employment piece needs to be there. And it needs to be there in a big way."

And although it hasn't been as obvious, downtown's growth as a destination for employers has grown in lock step with its other, higher-profile amenities. According to Thompson, in spring 2012 the vacancy rate for the 19 office buildings in downtown was 21 percent. In just two years, that number has dropped to 14 percent. If you exclude the American City Building a nine-story lakefront structure with high vacancies that owner Howard Hughes Corp. is in the midst of evaluating Thompson said that number drops to 8 percent.

It's a trend that he and others, such as County Executive Ken Ulman, say shows progress in the revitalization of the downtown's employment base.

"Town Center, like any downtown, can only thrive when it has balance," Ulman said. "There has been a lot of demand for retail in downtown, and the residential is coming along. ... but the important third leg of the stool has to be the office product."

Ulman said one tangible sign of progress was the July groundbreaking of Little Patuxent Square, a nine-story, mixed-use building in the lakefront neighborhood that will house 160,000 square feet of office space, in addition to residential and retail. The structure, built by Costello Construction, was the first new commercial building in downtown in more than a decade.

"Costello's project was important because it's a sign that the demand is there," Ulman said. "It's a really important validation of the economy."

Renovations and relocations

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Downtown Columbia burgeoning as employment hub

Apartment construction in July hit a 25-year high, fueling the months pickup in housing while single-family home construction increased modestly. U.S. home construction, typically volatile month to month, increased 15.7 percent last month, the fastest pace since November after declines of 4 percent in June and 7.4 percent in May, the Commerce Department said Tuesday.

And while single-family building permits increased just 0.8 percent in July versus the year-earlier period, apartment permits increased 17.5 percent over the same period, according to Commerce Department data.

The surge in apartment construction fuels less economic growth nationally than a comparable rise in single-family homes because single-family housing multiplies consumer spending and job growth more, according to Diane Swonk, chief economist of Mesirow Financial.

We tend to see more employment and spillover spending from owner than renters, but it is still a move in the right direction, she blogged Tuesday.

Home owners tend to buy more furniture and home improvement products than apartment renters, for example.So the overall gain in construction, a sector the Federal Reserve keeps a close eye on as an indicator of the economys health, will impact spending, production and employment less than in the past.

The apartment surge is still a positive sign for job growth, but economists hope more renters will save enough for down payments or qualify for mortgages to buy homes. Rising rents may push renters onto the single-family housing market. According to the Labor Department, rents rose in July at their fastest pace in five years, a 3.3 percent rise from a year ago.

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US Apartment Construction Hits 25-Year High, Supporting July's Housing Gains

NASHUA Fourteen people were forced from their homes and one person was taken to a local hospital as Nashua Fire Rescue fought a blaze late Tuesday night at 84 Palm Street.

Firefighters report they arrived around 10 p.m. after initially being dispatched to the corner of Pine and West Hollis Streets. Crews found flames coming from the top left floor of the 3 1/2 story, multi-family apartment building. All the residents had left the building. ... Subscribe or log in to read more

NASHUA Fourteen people were forced from their homes and one person was taken to a local hospital as Nashua Fire Rescue fought a blaze late Tuesday night at 84 Palm Street.

Firefighters report they arrived around 10 p.m. after initially being dispatched to the corner of Pine and West Hollis Streets. Crews found flames coming from the top left floor of the 3 1/2 story, multi-family apartment building. All the residents had left the building.

An additional ladder truck, engine and firefighters were called to assist at the scene. The fire was extinguished and a female resident was taken to Southern New Hampshire Medical Center in Nashua.

Deputy Chief Kevin Kerrigan said Wednesday that it was a situation of typical urban firefighting, with challenging access to the building due to parked cars and overhead utility lines at the scene. Additional manpower, brought when the first firefighters reported a working fire, meant ground ladders could be placed around the building and additional help applied in getting hoses to the attic. There were four apartments in the building, the deputy chief said.

Kerrigan also said the building is balloon construction, typical to that period and location, which meant the fire can travel through the many voids in the building.

American Red Cross volunteers Karen Dudley, Michelle McFadden and Nancy Zahornasky responded to provide lodging and clothing to five adults and four children residing at the Palm Street apartment building.

The American Red Cross New Hampshire Disaster Action Team is comprised of volunteers who are available to respond at any time of day or night to disasters in their communities or surrounding towns provide disaster relief and emotional comfort to those affected by emergencies or disasters. All American Red Cross disaster assistance is free, made possible by voluntary donations of time and money from people in our communities.

The cause of Tuesdays fire is under investigation.

Continued here:
Fire renders parts of Nashua apartment building uninhabitable after flames doused Tuesday night

Developer Mill Creek Residential Trust has started work on its next Dallas project a 179-unit apartment complex on North Central Expressway.

The seven-story rental project is being built on the site of a two-story office building on North Central just south of Fitzhugh Avenue.

Weve already started demolition on the building, Darren Schackman, Mill Creek executive managing director, said Monday.

The apartment building, planned north of downtown Dallas, was designed by architect Hensley Lamkin Rachel Inc., which also did Mill Creeks Avenue H apartments under construction nearby at North Central and Hester Street.

Schackman said the 208-unit Avenue H project opens next month. We have had good early interest in it, he said.

The companys next development at North Central and Elizabeth Street wont be finished until the start of 2016.

Mill Creek is just about done with the 378-unit Arpeggio rental complex it built in Victory Park in partnership with Addison-based investor Behringer.

Its been extremely well-received and has leased up better than expected, Schackman said.

Mill Creek was formed in 2010 by former top officers of Trammell Crow Residential. Since then, the company has developed more than 12,300 apartment homes in 42 locations.

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7-story apartment block will replace old offices on North Central Expressway

A 3-year-old California boy who has spent the past year battling cancer had his dream come true Tuesday by spending the day at a real, live construction site.

Renzo Lombardi of Seaside, California, was named honorary foreman at ground zero of a high-rise apartment building in San Francisco, where he was carried around by the sites real foreman and got to operate a crane himself.

The people kind of made him a little nervous at first but as soon as the foreman got him in with the construction equipment, he lit up, Renzos dad, Vince Lombardi, told ABC News. His mom and I were nonexistent at that time.

Courtesy Swinerton Builders/Trinity Properties

PHOTO: Renzo Lombardi's wish to be a construction foreman was granted by Make-A-Wish Greater Bay Area.

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He was waving and smiling, which was wonderful to see because most of his second year of life, we were locked down at home, Lombardi said.

Doctors discovered a 3-pound Wilms tumor on Renzos left kidney in June of last year. He underwent surgery to remove both his tumor and his left kidney and then spent about 20 weeks undergoing chemotherapy treatments.

Courtesy Swinerton Builders/Trinity Properties

Excerpt from:
Boy's Construction Foreman Wish Granted