Developers of a proposed senior citizen apartment building want more time to submit information about their plan to Plum Borough. The Plum Planning Commission on Monday night tabled a site plan application for Plum Heights, a four-story, 58-unit building proposed near the intersection of Repp Road and Coxcomb Hill Road, also known as Route 909.
Two developers who failed to convert apartment complexes in Rodgers Forge and Rockville into condominiums are appealing the $23.3 million judgment entered against them in U.S. District Court last month after the loans on the projects went into default. Brian A. McCormick, a lawyer and CPA with a long track record in residential real estate, whose latest ventures are in the Middle East, and Charles W. Moore, an MBA and the junior partner in the unsuccessful conversion projects, have maintained, through their attorneys, that their personal guaranties did not extend to all of their corporations' debts.
EDGEWATER - Replacing the controversial Octagon chemical plant with an apartment complex makes economic sense, an expert witness for the developers told borough Board of Adjustment members Wednesday night. Swayed by the presentation, the board voted 5-1 in favor of granting a variance for the project and a variance for its height, designated as under 10 stories.
The Portland-metropolitan area is a unique multifamily housing market, and though affected by the recession, it remains relatively healthy. Vacancy decreased during most of 2010 and was slightly more than 3 percent during the fourth quarter, according to NAI Norris, Beggs & Simpson's reports. Apartment developers must continue to innovate and set themselves apart in order to find development opportunities that will attract renters. And in Portland, that often means incorporating sustainable features.
GLEN BURNIE - The Council Council voted this week to authorize a $7,000 annual tax break to the developers of an apartment complex serving working-class and low-income families. The measure passed 4-3, with Councilmen John Grasso, R-Glen Burnie, Derek Fink, R-Pasadena, and Dick Ladd, R-Severna Park, dissenting.
Target market J.C. Hart apartments feature contemporary, appealing layouts designed to draw the attention of so-called echo boomers, the children of baby boomers, who are expected to feel less urgent about buying homes and more content with nice apartments, said George Tikijian, principal of Tikijian Associates. Not many apartment developers include indoor basketball courts in their apartment communities, or rooftop swimming pools with skyline views and clubrooms with pool tables like those at downtown's The Waverley.
DAILY MAIL STAFF The Charleston-Kanawha Housing Authority will market a historic apartment complex on the city's East End to private developers.
Eager to cash in on the seemingly endless number of empty- nesters and young professionals clamoring to own residential space in downtown Portland, developers are strategically snapping up apartment buildings and turning them into condominiums. Marty Kehoe of Portland-based MK Development last week announced plans for condominiums at Northwest Portland's Uptown Heights apartments, and Scottsdale, Ariz.-based MC Cos. is finishing up its conversion project at McCormick Pier.
Plans are in the works to transform the largest building in the Film Exchange District into the headquarters for a growing claim adjustment firm and the development firm Midtown Renaissance has plans to convert two more historic buildings into hip downtown apartment units. Developers including Steve Mason, who has helped revitalize Automobile Alley; Film Row visionary Chip Fudge; and Midtown Renaissance partner Mickey Clagg spoke Wednesday at a Greater Oklahoma City Chamber event that celebrated the revitalization of the city's urban neighborhoods.
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