Apartment Choice

By Paul Norman - Friday, August 18, 2017 9:04 Global rental housing company Greystar has announced the appointment of Mark Allnutt to head operations in the UK, replacing Jeff Manno who is returning to the US to lead Portfolio Management for the new Greystar Growth and Income Fund. As UK business lead , Mark Allnutt will oversee 200 plus London-based staff and a property portfolio which includes student housing and multifamily rental accommodation across the country. Allnutt has been tasked with increasing Greystar’s UK multifamily portfolio to 10,000 units within four years and growing its student housing portfolio to position the company as one of the country’s largest owners and operators of rental housing . He joined Greystar in 2014 to launch the company’s multifamily business in London. Subsequently Greystar’s development pipeline has grown to over 2,750 units with a value of £1.5bn and the company has been involved in several of the largest propert...

A Long Island research group is urging local governments to consider allowing more rental apartments in private homes, to help cash-strapped homeowners and provide more housing for renters. In a report released Saturday , the Long Island Index outlines the vast differences in the ways Long Island ’s towns, cities and villages deal with so- called accessory apartments , or small units within owner-occupied homes. Most Popular The approaches range from fairly accepting — as in the Town of Babylon, where homeowners can get permits to rent out apartments if they meet certain conditions — to strict, as in the Town of North Hempstead , where such units can only be occupied by the homeowner’s parent or child. Long Island has a patchwork of rules for accessory apartments , which vary so widely that many homeowners fear getting penalized, so they don’t even try to create apartments, even if they want to and might be allowed, said Nancy Rauch Douzinas , publisher of the Index. The Index is a...

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...

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