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think rooftop vegie patches and beehives

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The long retail spine of Sydney Road, Brunswick, just north of Melbourne's CBD, was once a prosperous trading outpost on the way to the goldfields. These days it's a bohemian mix of variety stores, op shops, halal butchers and Lebanese bakeries. Take a side street to the west, however, and a different picture emerges. Sandwiched between Sydney Road and the Upfield train line is an area undergoing rapid and widespread transformation. Light industry is fast being replaced by mid- rise apartment buildings , their inhabitants attracted by the short commute into town and cheaper prices than in the city's south-east. The quality of these units is, on the whole, depressingly bad; think poor ventilation and bedrooms that "borrow" natural light (a weasel word for being dark and windowless). The occasional jazzy façade tries feebly to make up for otherwise cheap construction amid a chorus of greys. At ground level, carpark roller doors alternate with mean pocket garden...

PPD Holdings Eyes $111M to Build, Refi

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The Crest at Sugarloaf, Lawrenceville, Ga. PPD Holdings Investment Group refinanced loans for two of its multifamily properties in Greater Atlanta. The company also received preliminary loan approval for the construction of two apartment communities in southwest Florida. The credit facilities total $111 million. A $28 million loan on The Crest at Sugarloaf, a 540-unit property in Lawrenceville, Ga., was originated by The Guardian Life Insurance Co. Another $19 million loan were obtained from PPM America for The Crest at Berkeley Lake, a 382- unit apartment community in Duluth, Ga. PPD Holdings is in the process of refinancing The Crest at Laurel Canyon, a 350-unit in Canton, Ga. Pending construction loans A $34 million HUD 221(d)(4) loan for the construction of a 200-unit, Class A apartment community in Naples, Fla., is pending approval . The development will be named The Crest at Naples. PPD also anticipates finalizing construction financing for a 264-unit community in Bonita Spr...

• Trillium At Deer Valley Apartments • Phoenix • Arizona •

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