Apartment Choice

Illinois-based multifamily developer  Banner Real Estate Group  has the initial support of city staff for its proposed 13-story mixed-use apartment building planned in Downtown Orlando, but has also been put on notice that key design elements must change in the coming months.  Conceptual plans and new renderings for the 13- story building will go before Orlando's Appearance Review Board on Thursday for a courtesy review.  That's being done by the developer, civil engineer  Kimley-Horn  and architect  Baker Barrios  to get valuable early feedback from the ARB and staff on their design, before an eventual Master Plan filing . Banner will have to submit again for a formal ARB review and approval, prior to submitting for building permits.  Banner Real Estate project aerial map" class="trb_em_ic_img" title=" Banner Real Estate project aerial map" src="src" /> This would be Banner's entry to the Central Florida market , with a propo...

We’re a particularly strong and well-capitalized company with a very strong investment record . Joe Lubeck Executive chairman, Landmark Apartment Trust of America Inc. The recession and slumping housing market made the past few years a good time to invest in apartments — and Landmark Apartment Trust of America Inc. was poised to take action. By acquiring more than $1 billion in properties in 2013, Landmark now owns or manages almost 33,000 units, says Joe Lubeck, executive chairman. This correlates with increased interest in renting. “We see that a lot of people are more interested in job portability and the ability to relocate from one city based on job availability, and they also no longer perceive a house as being the solid investment that it once was,” Lubeck says. “As a result, we’re seeing significant growth in the household formative years , the 25- to 40-year-old market, where people are specifically looking to be renters by choice.” Targeting distressed properties that c...

Amelia Ridge, located in Cary, N.C. Texas & North Carolina —Elco Landmark Apartment Trust Holdings (doing business as Elco Landmark Residential ) has announced a series of transactions. Combined, the firm has added six properties (four in Texas, two in North Carolina ) to its portfolio. On Wednesday the company announced that it had partnered with DeBartolo Development and LEM Capital to acquire four garden- style assets located in San Antonio and Austin for approximately $44 million. Collectively, the Texas portfolio consists of 771 units that are 95 percent occupied. Elco plans to implement a renovation and repositioning program on the assets. “The acquisition of these assets is another example of our unique ability to source attractive investment opportunities in high- growth metropolitan markets located across the South,” says Joseph Lubeck, CEO of Landmark Residential . “We look forward to leveraging our redevelopment and repositioning expertise to improve the quality of e...

AKRON, Ohio - Testa Companies plans to build 40 townhomes in North Hill, in what will be the first new family housing development in North Akron in more than 20 years. Through a partnership with the International Institute of Akron, the city and the Ohio Housing Finance Agency , Testa plans to break ground in spring 2018 on the International House at San Tomasso (Italian for St. Thomas). The units will be built on land near St. Thomas Hospital and St. Anthony of Padua Parish on N. Main Street and is intended to be largely occupied by refugees. In July, the Ohio Housing Finance Agency announced the International House at San Tomasso received a portion of the $27 million awarded under the 2017 Housing Tax Credit program awards . The program pays for construction, acquisition and rehabilitation of affordable housing communities across Ohio. The new development aligns with the city's plan to boost Akron's population and strengthen its tax base as outlined in the report Planni...