REBusinessOnline

Healthy Occupancy Hinges on Winning the Apartment Amenities Arms Race

When deciding where to live, the choice isn’t always a matter of finding the newest property on the market. Oftentimes it comes down to which property can most effectively meet and exceed your expectations as a renter. For example, these two “blind” multifamily rental listings identified below are within the same five-mile radius in Upstate New York. They’re both firmly in the luxury rental space and offer in-unit washers and dryers and dishwashers. In other words, they’re …

How E-Commerce Has Impacted Industrial Real Estate

Over the past decade, the way we shop has undoubtedly changed. With the evolution of e-commerce, subsequently, so has  industrial real estate. Increasing delivery speeds and near-immediate access to goods have become top priorities for consumers, pushing retailers and their supply chains to follow suit. The demand for warehouse space in close proximity to major highways and transit hubs has steadily increased. These locations allow for faster and more efficient deliveries to the end …

HPM Executive: Preconstruction Services Help Tamp Down Construction Costs

Del Buck, vice president of preconstruction at Hoar Program Management (HPM), an affiliate firm of Birmingham, Ala.-based Hoar Construction, has the challenge of saving construction costs in the face of a significant labor shortage that’s hobbled the construction industry. According to research from Federal Reserve Economic Data (FRED), 1.5 million construction jobs were lost during the Great Recession. While the industry is still working to fill the void, labor and materials costs have …

Multifamily Developers, Investors Reveal Favorite Southeast Markets

ATLANTA — Multifamily developers and investors keep an ever-watchful eye on job and population growth in their target markets. In the Southeast, where several metros are seeing gains in those demand generators, which markets stand out? That was a central question posed during the regional panel discussions at France Media’s 10th annual InterFace Multifamily Southeast conference. The event took place Tuesday, Dec. 3 at The Whitley in Atlanta’s Buckhead district. The event drew 384 …

Variety, Flexibility on the Menu for Seniors Housing Dining

Historically, seniors housing dining services were known for serving simple proteins and side items purchased from an outside distributor, which would be prepared in bulk and served all at once in a communal dining room. But variety and novelty are quickly becoming key selling points for today’s incoming senior population, and communities are scrambling to keep up with the demand. “We have a tsunami of developers and contractors building new facilities across the United States, and …

Multifamily Operators Detail Top 20 Ways to Boost NOI

ATLANTA — It’s something that everybody wants: Increased cash flow. Multifamily operators gave a tutorial on the 20 best ways in which their firms are boosting net operating income (NOI) during France Media’s 10th annual InterFace Multifamily Southeast conference. The event took place on Tuesday, Dec. 3 at The Whitley hotel in Atlanta’s Buckhead district. The full-day conference attracted nearly 400 multifamily professionals from across the Southeast. Ed Wolff, chief revenue …

InterFace Design Panel: Multifamily’s Luxury Standards are Shifting Away from Amenities to Unit Interiors, Services

ATLANTA — Multifamily developers’ definition of luxury is constantly changing, causing general contractors and architects to plan for the unforeseen and possibly change up designs when it comes to unit finishes, community amenities, parking structures or retail space within the communities they help build and design. “A big component of luxury now is creating an environment for community and location within the social hub of the market,” said B.J. Laterveer, principal at Alpharetta, …

Powered By Healthy Job Market, Multifamily Investment Remains a Safe Bet

ATLANTA — Increased job growth in major markets throughout the Southeast and lower borrowing costs have quelled fears of a 2020 recession, and multifamily investors are feeling confident going into the new year. The Bureau of Labor Statistics recently reported that the U.S. economy generated 266,000 jobs in November and the unemployment rate fell 10 basis points to 3.5 percent. Healthy job growth in major population centers drives heightened demand for housing, particularly in the …

Retail, Office Trends Influence Apartment Development Strategies, Says InterFace Panel

ATLANTA — Much of today’s new apartment projects feature a ground-floor retail component. But developers at France Media's 10th annual InterFace Multifamily Southeast conference actually expressed concern about this type of development approach. “The overall retail market is just not what it once was,” said Richard Aaronson, CEO of Atlantic Residential. “A lot of municipalities are recognizing that ground-floor retail in a residential building is not ideal.” In other words, if …

Volume of Package Deliveries Opens Pandora’s Box for Student Housing Managers

If you have sufficient room and staff at your property to handle the influx of package deliveries today, chances are good you may come up short tomorrow.  “I’m sure in a few years, I will say the same thing I said two years ago: We still don’t have large enough package areas,” says Kristen Penrod, a principal with Parallel. Most properties report receiving an average of 150 to 200 packages per day. But at larger properties, and during peak times such as move-in, deliveries can …

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