Orlando Rentals Battered
Orlando, Fla.—In August 2008, 40 people who had signed pre-sale contracts at the Paramount on Lake Eola, a new high-rise condo tower here, unsuccessfully sued to try to get their deposits back, according to local news reports.
On the Line
Charlotte, N.C.—Approximately 1,200 multi family units in four developments are going up within about a half-mile of each other along the city's new lightrail line.
Miami Rent Wars
North Beach, Fla.—In October 2008, managers at Marina del Mar cut their average apartment rents by more than $100 a month.
Prairie Crossing, an $11.37 million mixed-income development, opened its doors Sept. 23.
New Orleans—How long does it take to recover from a hurricane? Natives here can't say for sure, but most can see that, while rebuilt homes, businesses, and apartment buildings may line many streets, getting back to full strength is likely to take much longer than three years.
Going Hip in Austin
Austin, Texas— You can tell a lot about the new apartments at Greystar South Congress just by checking out the bike racks.
Dallas— The large number of apartments under construction shows the confidence developers have in this market.
One Big Repositioning
When Aimco put the Springhill Lake Apartments in Greenbelt, Md., up for sale in January, bidding was intense.
Hits & Misses
Fresh Meadows, N.Y.—Devices created by U.S. Energy Group, an energy services company headquartered here, helped area apartment investor Metropolitan Property Management (MPM) cut the fuel it uses to heat hundreds of apartments by more than 25 percent.
Chicago—Lynd Development Partners broke ground on a 29-story, 249-unit luxury apartment development in the River North neighborhood, pegging completion for spring 2010.