Apartment construction is surging, in Southern California and nationwide.

New apartments and condominiums drove building permits up 8% in April from the prior month, to their fastest pace in nearly six years, the Commerce Department reported Friday.

Housing starts which measure the launch of construction climbed 13.2%. Most of the growth came in multifamily building, which is now back at pre-recession levels and up 15% through the first four months of the year compared with the same period last year, even as permits for single-family homes remain sluggish.

All this building comes as rents continue to rise in Southern California and elsewhere and reflects growing demand for apartments and optimism from big builders that demand will keep pushing those rents higher even as more supply comes onto the market.

"It's a wildly different market than it used to be," said Steve Wilson, executive vice president for West Coast operations at AvalonBay, a large real estate investment trust that owns 12,000 apartments in Southern California. "I've got to believe we can get 4% to 5% rent growth a year over the next 10 years."

Wilson, like others in the multifamily business, sees multiple factors driving demand.

The economy is improving, which means more twentysomethings who've been living with their parents or piling in with roommates can afford their own apartments.

At the same time, the for-sale housing market is still tough with prices and lending standards high keeping more thirtysomethings paying rent instead of jumping into homeownership.

And then, he said, there's a growing cadre of people of all ages who are renters by choice, preferring the flexibility of an apartment and often willing to pay for top-end properties.

So AvalonBay is building. The company has seven projects under construction in the Southland including the Ava in Little Tokyo, where studio apartments start at $1,995 and an eighth on the way. Although many multifamily builders moved first into even hotter markets such as San Francisco and Seattle, Wilson said he now sees more potential for growth in the Southland.

Originally posted here:
Apartment construction surges across the Southland amid rising rents

JESSAMINE COUNTY, Ky. (WKYT) - Holes poke through the ceiling, the wood floors are soaked from heavy rain, and twisted pieces of sheet metal litter the sidewalk beside the battered apartment building in Wilmore.

"Seven of our nine apartments are pretty much destroyed; they're unlivable for probably three to six months," said Daniel Wier, the property owners' son.

He says the 15 people who lived in the apartments above the Subway restaurant on Main Street were forced to find other places to stay after Wednesday's storms peeled the roof off the building.

"Construction workers that were up on the second floor in the back room, which is where is started, say the rain was coming down hard and then it went sideways and then the whole building shook and then the ceiling collapsed on top of them," Wier said.

The Wiers say they've owned the building for 11 years and can't believe more than a decade of hard work was wiped away in just a few minutes.

According to the owners, they can't start repairing the building yet because they're waiting for the building inspector to take a look at the damage.

But they believe the building is damaged to the tune of $150,000 to $200,000.

However, they say they're able to see the silver lining in the storm clouds.

"The Subway is good, yay for Subway, there's no damage and two of the apartments are fine. We will repair and life goes on, said owner Julie Wier.

Were told no one was hurt when the storm hit the building.

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Storm causes hundreds of thousands of dollars in damage in Wilmore

Montgomery Development is proposing a 33-story apartment building at Forsyth and Central avenues in downtown Clayton.

The project, at 2 South Central, includes plans for 345 apartments, ground-floor stores and a parking garage for 478 vehicles. Also included is a rooftop pool.

Firm costs and a construction schedule are yet to be determined, Joel Montgomery Jr., a company executive, said Thursday. If public review proceeds quickly and financing is arranged, construction could begin next spring, he said.

Theres a lot that has to be reviewed, said Montgomery, adding that cost is one of the big questions that has to be answered.

Montgomerys project is scheduled to get its first public hearing Monday at a meeting of Claytons Architectural Review Board.

The 33-story tower is the second major apartment project in downtown Clayton to come to light since early April.

Planned for a site at Bonhomme and Meramec avenues is the Crossing, a 26-story building of 250 luxury apartments. Jerry Crylen a developer behind the $75 million project said last month that construction should begin this fall with the hope of occupying the building in 2016.

Montgomery said Thursday he believes the Clayton apartment market is growing and able to absorb his 2 South Central project and the Crossing. He cited the success of the recently renovated Clayton on the Park, a 206-unit building, as proof that Clayton is ready for more high-rise living.

The Montgomery plan calls for 97 studio apartments, 168 one-bedroom units, 72 two-bedroom units and eight penthouses. Apartment sizes are small from a 382-square-foot studio to an approximately 1,400-square-foot penthouse in keeping with apartment dwellers latest preference for less living space, Montgomery said.

The design, by Humphreys & Partners, of Dallas, calls for an exterior largely of glass and metal panels. Giarratana Development, of Nashville, Tenn., is consulting with Montgomery on the project.

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Montgomery proposes 33-story Clayton apartment building

Glen Cove, NY (PRWEB) May 13, 2014

Glen Cove Locksmith, a Nassau County, NY-based provider of locksmith services and security system installations to their Glen Cove neighbors as well as all residents of the surround Nassau County community, is pleased to announce winning a bid to supply door assemblies with locks to a local contractor.

As the population of Long Island grows, new residences are required and apartments are often the first choice for many. A local Glen Cove contractor recently accepted a job to convert a home into three separate apartments and part of the job requirement was for apartment entry doors and four interior doors for the three apartments. While the contactor could source the doors assemblies and handle/lock hardware assemblies separately and put them together themselves, they determined that it would be more efficient and cost effective to have the complete door assemblies with hardware and locks installed provided by a third party. The bid indicated that along with the best price for the materials, the provider who would win the bid would also have expertise in building the necessary door assemblies with the best quality locks available. Among the many bids that were submitted, the bid by Glen Cove Locksmiths was chosen for the best combination of price, product and experience in assembling the door/lock combinations.

As with all bids we want to get the best possible price so that we remain within budget but at the same time we wanted quality products and craftsmanship as the people who would live in these apartments deserved the best security available, said a representative of the contractor. Glen Cove Locksmiths have and excellent reputation and have a high level of expertise in the work we needed. Once we reviewed all of the bids it was theirs that stood out above the others. The entire Glen Cove Locksmith team are excited that their bid won as it is a feather in their caps in terms of maintaining a reputation for quality and craftsmanship that they have worked very hard to build and maintain.

Glen Cove Locksmiths offers locksmith solutions in Glen Cove, NY and the entire Nassau County region. Our licensed and professional locksmiths can assist you with any of your automotive, commercial, and residential needs. We offer emergency re-entry assistance for your home or vehicle 24/7/365 including holidays. Call us anytime at 855-321-5626 for a price estimate or to request emergency assistance or visit us online at http://locksmithglencoveny.com.

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Glen Cove Locksmith Pleased to Win Competitive Bid with Local Contractor

Published: Tuesday, May 13, 2014, 4:18p.m. Updated 51 minutes ago

A Michigan-based developer gave a rundown of plans on Tuesday for a second apartment building in Pittsburgh, and promised more.

Village Green Holding LLC of Farmington Hills which owns or manages more than 40,000 apartment units across the United States told the Pittsburgh Planning Commission it hopes to begin construction on a 264-unit, six-story apartment building in the SouthSide Works in this year's third quarter. It would be known as SouthSide Works City Apartments.

Village Green would build a 563-space parking garage with 12,000 square feet of retail space at South 26th and Sidney streets.

Construction could last up to 15 months, said Shawn Zimny, the company's vice president of development. He did not say how much it would cost to build or how much the apartments would cost.

Village Green will hold a ceremony on Wednesday to mark the beginning of construction on a 213-unit apartment building at Liberty Avenue and Baum Boulevard in Bloomfield its first foray into the Pittsburgh market.

Zimny said the company is considering several other potential development sites in the city.

Also Tuesday, the Downtown-based Mosites Co. outlined plans for the first of three buildings planned as part of the Eastside III mixed-use development in East Liberty. The first building would contain 109 apartment units and 2,000 square feet of retail space at South Highland Avenue and Stevenson Place.

It would be part of the larger $65 million Eastside III development that is to include 360 apartments and 40,000 square feet of retail space. A 278-space parking garage is under construction.

Tom Fontaine is a staff writer for Trib Total Media.

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Michigan apartment builder increasing stake in Pittsburgh

CHARLOTTE -- With building after building popping up all over Charlotte, it seems like rocketing apartment construction knows no bounds.

It's built plenty of excitement for those in the business, like Greater Charlotte Apartment Association Executive Director Ken Szymanski.

The amount of construction is at a record amount, he said. It's like 40 apartment communities currently under construction, and that's a little bit over 10,000 apartment dwelling units. And there's a similar number that are on the drawing board.

He said most of the growth is due to pent up demand from young people coming out of the recession.

[It's coming from the young people] that don't want to be saddled with debt and want to have flexibility, and mobility and opportunity to move to different parts of the state, or different parts of the region, or different parts of the nation, said Szymanski.

But what goes up must come down.

Ten thousand units a year, year in, year out, through 2016 I would say is probably not sustainable, Szymanski said.

Real Data monitors and researches apartment real estate across the Southeast. President Charles Dalton says it's just part of the real estate cycle.

I'd say we're at the top, and we need to ramp it down a little bit, Dalton said.

That's because supply, according to Real Data's latest report, is starting to outpace demand.

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Charlotte apartment boom could slow soon

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Perhaps no real estate development firm in southeastern Wisconsin is busier right now with development projects in the metro Milwaukee area than Mandel Group Inc.

North End Phase III

The firm's immediate pipeline of projects that are either under construction or could soon be under construction is filled with plans for three apartment development projects in and near downtown Milwaukee and four apartment development projects in the suburbs. The firm's list of planned downtown developments includes a three-phase addition to its North End development.

Mandel Group, a multi-family housing development firm, has a long track record in the area and studies the market carefully. The firm is expressing serious confidence in the metro area's apartment market with several development projects in the city and in the suburbs.

We believe this is the right time (to build apartment developments so they hit the market) before the cycle ends, said Mandel Group President Barry Mandel.

North Avenue, apartments with Adventure Rock Climbing Gym

Many empty nester members of the aging baby boomer generation are downsizing from single family homes to apartments, while at the same time the millennial generation, which is even larger than the baby boomer generation, is moving into the household formation age and in many cases its members are moving into apartments (as opposed to single family homes or condos) for lifestyle and financial reasons, he said.

The growing demand for apartments comes after years of little apartment development in the U.S., leading to stagnant supply levels. Multi-family housing development in the U.S. was dominated by condos from 2003-'07 as buyers, developers and banks responded to federal government policy that strongly encouraged homeownership and relaxed regulation of mortgage standards, which contributed to the subprime mortgage crisis, Monnat said.

Originally posted here:
Mandel Group's plate overflows with apartment projects

Geology and engineering experts hired by the developer of a proposed 16-story Hollywood development say there is no active earthquake fault line on the property.

The report's conclusions challenge a draft map released by the California Geological Survey in January, which showed the estimated path of the Hollywood fault going through the property, the former home of KFWB's radio studio at 6230 Yucca St.

We saw no faults of any kind," said Michael Reader, chief executive office of Group Delta, a geotechnical engineering company. "The report found conclusively that there are no active fault traces on or within 50 feet of the site."

The report was filed with the Los Angeles Department of Building and Safety as part of efforts to green-light construction for a project that would bring 95 residential units and nearly 14,000 square feet of office space. The site on the southwest corner of Yucca Street and Argyle Avenue is just east of the proposed Millennium Hollywood skyscraper project.

The report now goes to a city building division headed by the city geologist, Dana Prevost, which will decide whether the developer has produced enough evidence to prove the building will not sit on top of an earthquake fault.

City officials received the report on Tuesday. Its too early to comment, said building department spokesman Luke Zamperini. The agency could either approve the fault report or ask for more information, he said.

Group Deltas report reaches a different conclusion of the Hollywood faults path than the California Geological Surveys. The geological surveys draft map of the Hollywood fault estimates the fault line going through the Yucca apartment complex and Millennium sites.

In light of the new report, Reader has asked state officials to remove the fault line from 6230 Yucca St.

Donald Drysdale, a spokesman for the California Geological Survey, said the agency will consider the report and other appeals submitted during the public comment period before it produces a final map of the Hollywood fault zone later this year.

The geological survey has said it drew a fault line going through the Yucca apartment site after a study in 2006 reported differences in groundwater levels across the site. One explanation for that unusual occurrence is the presence of an earthquake fault.

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No quake fault on Hollywood building site, developer's consultant says

The new Mercer West luxury apartments opened in February and are already more than 50 percent leased. General contractor Synergy Construction designed the fountain and sign seen in front of the building.

image credit: Contributed photo

Three months after the Mercer West opened at 77th Ave. and 27th Street, the five-story luxury apartments are more than halfway leased.

Its doing extremely well, said community manager Lisa Vivolo.

The 85-unit complex adjoins the Mercer East, which was built seven years ago. Both projects had plans to be erected at the same time, but the recession and other construction on the Island, stalled the second phase of the project.

Islander James Cassan and his wife own the development company.

Officially opened on February 1, the Mercer West features upgraded amenities like quartz countertops, floor-to-ceiling windows and backlit mirrors in each units bathroom; a heated pool, Jacuzzi and sauna are available. There is also a slightly larger courtyard than its neighboring building, though a skybridge allows tenants to share features in each. Fire pits and a life-size chess set round out the courtyard features.

This is basically one big community, she said, explaining that a calendar full of events allowed neighbors to meet and mingle. [Mercer East] residents can use the amenities over here and vice versa.

The building is 43 percent occupied and 55 percent leased, said Vivolo. Tenants from both on and off Island, cite schools and the commute between Seattle and the Eastside as top reasons for choosing the Mercer West: Theres not one specific demographic thats here. Its people downsizing from homes; couples that want to be closer to work.

Vivolo noted that a number of residents have also signed short six-month to year-long leases, as they remodel Island homes.

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Newest apartment building fills up

Manta has 18 results under Apartment Building Construction Companies in Indianapolis, IN

Holt Construction and Holt Commercial Painting specializes in providing a wide range of services to owners of multi-family, assisted living and commercial properties. Through our offices in the Midwest, we offer full service to a five state area that includes Michigan, Indiana, Ohio, Kentucky and Tennessee - and we are steadily growing our territory. Holt's scope of services includes all the fields of carpentry and repair work, concrete surface repair, roof repair and replacement, gutter replacement, fire, water and storm restoration, interior drywall finishing, commercial interior finishes and commercial painting services.

5340 Acorn Lane, Indianapolis IN

General Contractors-Residential Buildings, Other Than Single-Family

1139 Shelby Street, Indianapolis IN

General Contractors-Residential Buildings, Other Than Single-Family

941 N Meridian Street, Indianapolis IN

General Contractors-Residential Buildings, Other Than Single-Family

8355 Rockville Road, Indianapolis IN

General Contractors-Residential Buildings, Other Than Single-Family

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