NEW ORLEANS, LA – 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry, announced today the release of a comprehensive industry study on the utilization of resident services in affordable housing. The study, Affordable Multifamily Rental Housing Resident Services – Twenty-First-Century Solutions, brings into focus the future of delivering services through web-based platforms.

The study encompasses extensive research related to the state of the affordable housing industry and the pressing need to evolve the delivery of compliance-required resident services. It explores the complexities of on-site programs, which have a history of poor attendance and high maintenance costs, before proposing how technology platforms can be leveraged to reduce this costly burden and generate more affordable housing units to better serve residents.

Kerry W. Kirby, CEO of 365 Connect stated, “The supply of affordable rental units has not kept pace with the significant demand in the market. Due to fluctuations in the tax credit market, costs of meeting compliance requirements, restrictions on rent, and continuously increasing operating expenses, developers are building new rental units designed for the upper end of the rental market where rents are higher.”

He suggested, “Utilizing technology to deliver resident services can redirect financial resources into efforts such as making a safe, stabilized community, funding mandated repairs, marketing to future residents in search of affordable housing, and delivering more targeted services to residents that they will genuinely use. More importantly, it can open the gates to fund more affordable housing units, which is a vital need across the nation.”

The study is one of the most complete compilations of data, independent research, and industry survey participation to ever be produced on this subject. Countless organizations, affordable housing operators, and industry advocates contributed tremendous guidance, insights, and resources throughout the development of this expansive, in-depth report. The resulting research builds a complete picture of how people are engaging with current programs and suggests how technology can redefine an outdated program by a modern, twenty-first-century solution.

“The core of resident service programs is based on getting information into the hands of residents; therefore the key to providing a successful program is delivery. Through the progression of technology and the declining cost of Internet access, a large percentage of the population is now connected online. We must deliver a consistent experience throughout every step of the housing process while providing cohesive solutions that focus on the entire resident lifecycle,” Kirby concluded. “As we continue to look at innovative methods to simplify onboarding practices and serve residents, it is crucial that affordable housing operators realign their strategies to accommodate the next generation of renters. We are excited to share our knowledge of this subject with our industry peers.”

The complete industry study is available at: www.365connect.com

365 Connect was founded in 2003 with an unwavering commitment to transforming how apartment communities market, lease, and retain residents. As a leading provider of award-winning technology platforms for the multifamily housing industry, 365 Connect delivers a fully-integrated suite of comprehensive solutions that automate marketing, simplify transactions, and serve residents after the lease is signed. The 365 Connect Resident Lifecycle Platform allows its clients infinite expansion, robust integrations, and the ability to revolutionize user experiences. Explore: www.365connect.com

Powered by WPeMatico

OAKLAND, CA – International award-winning firm KTGY Architecture + Plotting and San Francisco Bay Area office of Trammell Crow Residential (TCR) announce the groundbreaking ceremony on July 19, 2017, celebrating the redevelopment of the parking lot between Webster Street and Valdez Street at 23rd Street into a vibrant mixed-use destination that includes luxury apartment homes, retail, parking, jobs and art. The Alexan Webster enjoys a central location with its close proximity to Lake Merritt and the thriving Uptown Oakland with amenities such as Whole Foods, restaurants and shops. The Cathedral of Oakland, employers and the 19th BART station are also nearby.

Designed by KTGY, this exciting 1.42-acre redevelopment project represents a unique public/private partnership between the city and TCR and is a culmination of more than four years of plotting. The new $135 million sustainable development located at 2330 Webster Street will feature a 234-unit mixed-use luxury apartment community with 15,000 square feet of neighborhood-serving street-front retail. The design also includes a parking garage with 242 public city stalls as well as unbundled parking for the Alexan Webster residents.

“This development takes an under-used piece of property and creatively redevelops it providing essential housing, retail and art elements that benefit Oakland without displacing anyone living or working in the area,” said City of Oakland Mayor Libby Schaaf.

“The Alexan fills a void in the city’s urban fabric by making an active project frontage on both Valdez Street and Webster Street. The project wraps around an existing auto body shop and the former Hawker Fare restaurant at the corner of 23rd and Webster,” said Jessica Musick, associate principal in KTGY’s Oakland office. “The existing structures make an opportunity for unique architectural language along each street frontage.” 

The design includes approximately 5,000 square feet of indoor amenity and leasing space, as well as a lap pool, which is rather unique for an apartment community, and a cool rooftop deck that capitalizes on the dramatic views of Lake Merritt, the Oakland hills and downtown Oakland. Additionally, the Alexan Webster will feature an art installation on the rooftop deck adjacent to the amenity area.

According to Musick, the project team commissioned artist Tom Fruin to make an iconic outdoor sculpture overlooking the rooftop lounge. The sculpture can be illuminated at night and seen from the ground as well as throughout the neighborhood. “It is a stained-glass element that is fitting with the architecture of the building and contributes to the ambiance of the rooftop lounge and greater neighborhood,” Musick commented.

The new apartment community will feature a mix of studios, one- and two-bedroom apartment homes ranging in size from 610 sq. ft. to 1,160 sq. ft. The well-appointed, energy-efficient apartment homes will come with a full-size washer and dryer, gourmet-style kitchen with a waterfall countertop and gas range, plus large picture windows and high-end designer fixtures and finishes. In addition to the lap pool, the community amenities will also include a community center, concierge, rooftop lounge, business center, 24-hour fitness center, outdoor kitchen, bicycle repair center and storage, and a pet spa. The apartment homes on the penthouse level delight in higher ceilings throughout the units and other upscale finishes.

Bruce Dorfman, Trammell Crow Residential’s senior managing director of the Northern California division, notes that TCR is excited to play an vital role in adding to the vibrancy of this walkable district, which is just a few blocks from a BART station and offers simple access to the Alameda-Contra Costa (AC) Transit bus route and I-580. Walkscore.com gives the Alexan Webster a Walk Score of 98 out of 100. “This location is a ‘Walker’s Paradise’ reducing the need for a car,” Dorfman reported.

“In addition to the outstanding location, we are positioning the Alexan Webster to provide residents with better amenities and nicer finishes than what is currently being built today. Plus, the Alexan Webster will feature inclusionary housing to help ease the high demand for affordable housing,” said Dorfman. As part of the agreement with the City of Oakland, Alexan Webster will designate 15% of its units as affordable to households earning between 50%, 80%, and 120% of the area’s median income.

“I am pleased that the developer has made a commitment to provide a mix of market rate and affordable housing that allows us to maintain economic diversity in Oakland – these are the types of developments we want and need,” said Lynette Gibson McElhaney, a member of the Oakland City Council representing District 3.

Completion is slated for summer 2019.

Trammell Crow Residential was founded in 1977 to develop, construct and asset manage multi-family rental communities. Since inception, TCR has developed over 240,000 multi-family units in most major markets across the country. Currently, the company owns over 19,000 apartment units nationwide with an additional 3,700 new units plotted for construction later this year.

Celebrating 25 years, KTGY Architecture + Plotting is an international award-winning full-service architecture and plotting firm delivering innovation, artistry and attention to detail across multiple offices and studios, ensuring that clients and communities get the best the firm has to offer no matter the building type or location. KTGY’s architects and planners combine huge picture opportunities, leading-edge sustainable practices and impeccable design standards to help make developments of enduring value. KTGY serves clients worldwide from offices located in Chicago, Denver, Irvine, Los Angeles, Oakland, Pune and Tysons.

Powered by WPeMatico

TALLAHASSEE, FL – Waypoint Residential, a vertically integrated real estate investment firm focused on the U.S. residential sector, today announced that it has bought a 288-unit student housing community in Tallahassee, Florida. Waypoint intends to repurpose the property from student housing to conventional apartments to serve the area’s strong demand for high-quality apartments.

“This acquisition brings to bear Waypoint Residential’s fully integrated platform and showcases our complete skill set,” said Scott Lawlor, Chief Executive Officer of Waypoint Residential. “The ability to capitalize on this type of opportunity requires deep expertise in both student housing and multifamily investments, as our team was able to identify a supply and demand imbalance between the two sectors in the Tallahassee market. This investment speaks to our ability to approach residential investments from every perspective and demonstrates our strong acquisition and redevelopment capabilities.”

Well-located near retail and transportation corridors, the highly-amenitized property also includes a large fitness center, computer lab, business center, conference room, movie theater, pool, full-size basketball court and sand volleyball court. Waypoint‘s extensive renovation of the property will reconfigure the existing floor plans into more functional, conventional apartments to meet the need for quality, affordable rental housing in the area.

The property was originally built as a student housing community to serve multiple area universities; but, according to Eric Hade, Waypoint’s Chief Investment Officer, Waypoint believes that the full value of the property can be maximized as apartments, as recent deliveries to the Tallahassee market have focused primarily on either purpose-built student housing communities or conventional apartments with smaller floorplans.

“Upon completion of the conversion, the property will offer one of the most exceptional value propositions in the Tallahassee market featuring significantly larger-than-average floorplans together with a best-in-class amenity package that includes one of the largest resort-style pools in the market,” said Mr. Hade.

The redesigned interiors will be updated with new stainless steel appliances, upgraded countertops, flooring, cabinetry, and lighting and plumbing packages. Exterior improvements, including landscaping, paint, roof replacement, new signage and pool area updates, will bring a fresh new look to the property for its rebrand.

Multiple universities, including Florida State University, Tallahassee Community College and Florida A&M University, are located in Tallahassee. As the state capital, the city is also home to the state’s main government bodies, lobbying and trade organizations.

“The stability of the Tallahassee market results from the significant government employment base, substantial university presence and strong health care industry,” added Mr. Hade. “These sectors have been fueling the city’s long-term steady growth and higher than national average employment rates.”

Powered by WPeMatico