Apartment Choice

CHAPEL HILL A property management company has cut the rent at two apartment complexes to give public employees an affordable way to live in town. Chapel Hill - based Eller Capital Partners is reducing the rent for newly renovated apartments at Midtown 501 – formerly Foxcroft Apartments near Erwin Road and U.S. 15-501 – and 86 North – formerly Timberlyne Apartments near Weaver Dairy Road . The offer, which also waives application and administration fees, is available to thousands of employees who now commute from surrounding counties to work for the town of Chapel Hill , the town of Carrboro, UNC and UNC Health Care , and other state agencies. It could save them a few thousand dollars a year, said Daniel Eller, president and chief executive officer of Eller Residential, a division of Eller Capital Partners . The rent would be $645 a month for a one- bedroom apartment at 86 North – reduced from $795 – and $895 a month for two bedrooms – reduced from $1,095. That would be affordab...

August 25, 2008 | By Jerry W. Jackson, Sentinel Staff Writer Despite the real-estate slowdown, apartment developer Lane Florida LLC is moving forward with its Orlando-area projects. The company, launched in Orlando by Atlanta-based Lane Co. in 2006, is wrapping up work on portions of its first complex in Florida, a 384- unit development in Osceola County called Verano Apartments . Work began on Verano, located just off Exit 244 of Florida's Turnpike near Walt Disney World , in November 2007. While leasing has begun and some of the one- to three-bedroom units are occupied, work is continuing and the complex should be completed by February, according to Mike Mulhall, the company's Florida regional development partner . Mulhall said work has also begun on the company's even more ambitious downtown Orlando apartment tower , called The Montage. The 19-story high-rise is being built on Lake Avenue a block from Lake Eola. "The apartment market remains strong , and we have t...

Dozens of low-income families being displaced by the closing of the 337- unit Silver Oak Apartments have found new homes, thanks to a hastily put together partnership of Charlotte nonprofits and the Charlotte-Mecklenburg Schools. Organizers say Community Link and Charlotte Family Housing helped 34 low -income households (115 people) avoid homelessness by placing them in homes. One additional family remains in Silver Oak, but a housing plan is in place for them to move, officials said. Crisis Assistance Ministry provided $15,095 to 15 households that needed help with security and utility deposits to get into new homes. Other partners in the program, including Communities in Schools and A Child’s Place, helped place some children in new schools and identified other students as eligible for homeless aid programs . Carol Hardison of Crisis Assistance Ministry said the closing of Silver Oak worsens Charlotte ’s affordable housing shortage , which experts say is a key reason family ho...