GREELEY, COLO. — Thompson Thrift has opened Premier at West Park, a 336-unit complex in Greeley, roughly 60 miles north of Denver. Located at 3800 Centerplace Drive, Premier at West Park consists of 10 three-story buildings across 21 acres. Apartments come in one-, two- and three-bedroom layouts. Amenities include a clubhouse, pool, fitness center, outdoor game area, seating area with gas fire pits, dog park, pet spa with grooming station and pickleball court. The property also includes 133 detached garages. The first residents began moving in during the early summer …
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Renter Profiles Are Changing – How Multifamily Operators Can Minimize the Risks of Rent Default and More
Despite the persistent housing shortage, landlords are having a more difficult time qualifying potential residents, especially non-traditional applicants who don’t check the usual boxes for credit and employment history. Renters are also facing bigger hurdles for income, credit and up-front deposits. “It has become increasingly expensive and challenging to rent an apartment in the United States,” says Eben MacNeille, senior director of sales at TheGuarantors. The New York-based financial technology company serves the multifamily industry by providing lease guarantees, security deposit replacements and renters insurance and compliance solutions. Today’s renter …
AUSTIN, TEXAS — LV Collective has hired Alex Perkins as president of multifamily. In this role, he will define and execute the Austin, Texas-based firm’s multifamily platform, overseeing strategy, development, capital markets, operations and asset management. Prior to joining LV Collective, Perkins served as a director for Greystar Development and Construction Services. He is a member of the advisory council for the University of Texas Real Estate Center, where he advises on program strategy and curriculum design.
There is an urgent need for more affordable housing in the United States. For every 100 extremely low-income renter households, there are just 36 affordable units available for rent, according to a March 2024 report from the National Low Income Housing Coalition (NLIHC). Despite widespread attention on this issue — including at the state and federal levels — the supply shortage has continued. Municipalities across the United States continue to struggle to address symptoms of the affordable housing crisis, such as homelessness and rising housing costs. The NLIHC reports that there is …
PEARLAND, TEXAS — Eastham Capital has partnered with Mosaic Residential to acquire Amber Oaks and Park Place, two adjacent communities totaling 164 units in Pearland, about 20 miles south of downtown Houston. Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI LP. The acquisition price was not disclosed. Amber Oaks was built in 2015 and is located at 3340 E Walnut Street. The property consists of 63 units spread across two three-story buildings. The unit mix includes 16 one-bedroom and 47 two-bedroom apartments. The …
MINNEAPOLIS — Woda Cooper Cos. Inc. and Project for Pride in Living (PPL) have opened Shelby Commons, a 46-unit affordable housing community in the North Loop neighborhood of Minneapolis. The four-story building features one-, two- and three-bedroom units. All of the units are reserved for households earning 30 to 80 percent of the area median income. Amenities include a community room, laundry facility and outdoor spaces such as a rooftop terrace, playground and community gardens. Underground parking is also available on-site. The property will feature two large murals currently underway …
BETHESDA, MD. — Willow Bridge Property Co. has begun leasing 4909 Auburn, an 11-story residential tower that is approaching completion in the Woodmont Triangle neighborhood of Bethesda. The community will offer 167 apartments in studio, one- and two-bedroom floor plans. Units will range from 364 to 1,333 square feet. Planned amenities include a fitness center and yoga studio, steam and sauna rooms, pet spa and a parking garage with electric vehicle charging stations. Residents will also have access to a rooftop terrace with a TV and grilling area, common and …
CHICAGO — 29th Street Living, the property management division of 29th Street Capital (29SC), has expanded into third-party property management services. The division currently manages more than 55 properties across 23 markets. According to 29SC, 29th Street Living has a resident-first approach and is focused on providing cutting-edge technology and streamlining operations. 29SC is an investment management firm based in Chicago with back-office support in Louisville, Kentucky. The firm has acquired and developed more than 158 properties throughout the nation.
POHATCONG, N.J. — Larken Associates has begun pre-leasing Monte View at Pohatcong, a 120-unit garden-style community located at 1001 Monte View Drive in Pohatcong, less than a mile from the New Jersey-Pennsylvania border. The community consists of four buildings. One building includes a clubhouse on the ground level, which features a lounge, game room, coworking space and a kitchen. Additional amenities include a fitness center, pool with a tanning ledge, outdoor seating area with outdoor grills, children’s playground, dog park and pet spa. Monte View at Pohatcong is scheduled to …
NEW YORK CITY — TF Cornerstone has begun leasing Malt Drive, a 1,386-unit high-rise community in the Long Island City neighborhood of Queens. The development consists of two buildings. The South building at 2-20 Malt Drive rises 33 stories and comprises 575 units. The adjacent North building houses 811 apartments across two towers at 2-21 Malt Drive. Apartments come in studio, one- and two-bedroom layouts. Thirty percent of units will be set aside as affordable housing and will be leased at 130 percent of the area median income. Amenities include …