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Leasing & Marketing

Courtney Wilson Multifamily NOI TheGuarantors quote
Affordable HousingContent PartnerFeaturesIndustry ContentLeasing & MarketingMidwestNortheastOperationsSoutheastTechnologyWestern

Multifamily Market Challenges: Strategies for Operators to Preserve NOI Amidst Rising Costs, Supply Pressures

by Sarah Daniels

Multifamily operators face a number of challenging factors in today’s market. The spike in the cost of debt along with higher expenses across the board — from property insurance and taxes to construction and labor — as well as adverse effects left over from eviction moratoriums are eating away at net operating income (NOI) across the country. During the third quarter of 2023, multifamily expenses grew 7.2 percent, more than double the rate of inflation, according to Freddie Mac’s 2024 multifamily forecast. Additionally, rent control efforts in some jurisdictions are …

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DevelopmentLeasing & MarketingNew JerseyNewsNortheast

Garden Communities Begins Leasing 147 Columbia in Florham Park, New Jersey

by Channing Hamilton

FLORHAM PARK, N.J. — Garden Communities has begun leasing 147 Columbia, a 126-unit complex in the Northern New Jersey borough of Florham Park. The site is located at 147 Columbia Turnpike and formerly housed an office building. The redevelopment began last year. The community now offers one- and two-bedroom floor plans that range from 861 to 1,535 square feet in size. Units feature with stainless steel appliances, custom cabinetry and individual washers and dryers. 

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Industry Tallahassee in Tallahassee, Florida
FloridaLeasing & MarketingNewsSoutheast

Asset Living Takes Over Management of Industry Tallahassee in Tallahassee, Florida

by Channing Hamilton

TALLAHASSEE, FLA. — Asset Living has been awarded management of Industry Tallahassee, a community located at 440 N Monroe Street in Tallahassee. According to Apartments.com, the property comprises 248 apartments across six stories. Industry Tallahassee offers studio, one-, two- and three-bedroom floor plans. Units feature stainless-steel appliances and European-style cabinetry. Amenities include a pool, fitness area with a yoga room, grand lounge, co-working spaces and a dog park.

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The Harlow in Tampa, Florida
DevelopmentFloridaLeasing & MarketingNewsSoutheast

Mast Capital Begins Pre-Leasing for The Harlow in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — Mast Capital has begun pre-leasing at The Harlow, a garden-style community in Tampa’s Wesley Chapel neighborhood. Located at 5101 Bruce B. Downs Blvd., The Harlow comprises 248 units on a 16-acre site. Mast Capital and Rockpoint collectively entered the Tampa market in November 2021 with the acquisition of the development site. Construction began in late 2022, and the property is slated to open in March. The Harlow offers one-, two- and three-bedroom units that range from 751 to 1,501 square feet in size. Amenities include a central …

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Broadstone Edition in Irvine, California
CaliforniaDevelopmentLeasing & MarketingNewsWestern

Alliance Residential Opens 264-Unit Broadstone Edition in Irvine, California

by Channing Hamilton

IRVINE, CALIF. — Alliance Residential has opened Broadstone Edition, a 264-unit property in Irvine. The five-story community offers studio to three-bedroom units. Of the total unit count, 22 have been set aside for very-low-income households and 14 for moderate-income households. Details regarding income restrictions were not disclosed. Amenities include a pool, karaoke lounge, 2,000-square-foot rooftop deck with a social lounge and fire pits, 2,000-square-foot gym and studio, bicycle parking and a courtyard barbecue area. KTGY designed the community. Hendy was the interior designer. Fuscoe Engineering was the civil engineer. MJS …

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DevelopmentLeasing & MarketingNew JerseyNewsNortheast

Adoni Property Group Begins Pre-Leasing The Franklin Westfield Near New York City

by Channing Hamilton

WESTFIELD, N.J. — Adoni Property Group has begun pre-leasing at The Franklin Westfield, a 40-unit building in the New York City suburb of Westfield. The Franklin Westfield offers flats, duplexes and penthouse duplex apartments. Units range from 750 to over 2650 square feet in size. Amenities include a pool and hot tub, putting green, pergola with grilling stations, lounge, dining/wine tasting room, fitness center, golf/multisport simulator, theatre, business center, library, dog park and pet wash. Monthly rents range from $4,300 to $8,000.

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Leasing & MarketingNew JerseyNewsNortheast

Walters Completes Lease-Up of Cornerstone at Branchburg in Branchburg, New Jersey

by Channing Hamilton

BRANCHBURG, N.J. — Walters has completed the lease-up of Cornerstone at Branchburg, a 150-unit property in the northern New Jersey township of Branchburg. The locally based developer broke ground on the asset in May 2021 and began leasing last spring. Cornerstone at Branchburg comprises a pair of three-story buildings on an 11.7-acre site. Units come in in one- and two-bedroom floor plans and range from 700 to 900 square feet in size. Amenities include a fitness center, game room and outdoor grilling and dining areas.

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The Vale in Allendale, New Jersey
DevelopmentLeasing & MarketingNew JerseyNewsNortheast

The Hampshire Cos. Opens 70-Unit The Vale in Allendale, New Jersey

by Channing Hamilton

ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale, a 70-unit community located at 220 W. Crescent Avenue in the northern New Jersey borough of Allendale. The Vale was designed by DMR Architects. The community offers one- and two-bedroom apartments with features such as quartz countertops, mosaic tile backsplashes, custom cabinetry, stainless steel appliances and plank flooring. Amenities include a clubroom, lounge, fitness center and a 9,460-square-foot outdoor courtyard.

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District at Washington in Houston
Leasing & MarketingNewsOperationsTexas

Asset Living to Manage Two Communities Totaling 652 Units in Houston 

by Channing Hamilton

HOUSTON — Asset Living has been awarded management of two properties, HiLine Heights and District at Washington, in Houston. Situated within the city’s The Heights neighborhood, HiLine Heights offers studio, one-, two- and three-bedroom apartments. Amenities include a pool, fitness center, business center, clubhouse, coffee bar and lounge. According to Apartments.com, HiLine Heights comprises 256 units across four stories. District at Washington offers one- and two-bedroom units. Amenities include a pool, fitness center, business center, yoga/spin studio, clubhouse, cybercafe and a dog park. District at Washington is located near Houston’s …

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Culebra Commons in San Antonio
Affordable HousingDevelopmentFeaturesLeasing & MarketingOperationsTexas

Q&A With David Lynd of Lynd Cos.: Inflation Hits Middle-Income Renters Hardest, San Antonio Adjusts to Oversupply

by Channing Hamilton

Concerns of oversupply have risen regarding several Texas markets, including Dallas and Austin. Where does San Antonio stand in terms of supply and demand, and where in the city is there still room for new opportunities? Multifamily & Affordable Housing Business (MAHB) recently interviewed David Lynd, CEO of Lynd Cos., about the state of the market. Multifamily & Affordable Housing Business: How many units do you currently own nationwide? How many in San Antonio? Lynd: We own about 3,000 units in San Antonio and 6,000 nationwide. We also do third-party …

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