Author Archives: ipgocorp

Transcontinental Realty to Develop $59 Million Amenity-Rich Apartment Community in Las Vegas

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LAS VEGAS, NV – Transcontinental Realty Investors announced its newest development project, The Abode Red Rock Apartments in Las Vegas, Nevada. The property is located within Las Vegas’s hottest residential submarket, called the “Southwest.”

The $59 Million project starts construction this month and is scheduled for completion July 2018.

Abode Red Rock Apartments is a 308 unit, Class A, Mid-Rise residential superstructure composed of 1 and 2 bedroom apartment units, indoor common areas, an internal parking structure, and amenity-rich, tastefully-landscaped courtyards and swimming pools. The property is prominently situated at the northwest corner of the intersection of S. Fort Apache Road and W. Hacienda Avenue, directly across from the sub-market’s leading power center, Tropicana Beltway Center.

The building’s stylish design provides multi-color roof tiles, a façade of warm Mediterranean colors, real and simulated stone, exterior gas lanterns, towers, columns, balconies, landscape, private courtyards and pedestrian zones with cobblestone sidewalks.

“We are continuously improving the experience in multifamily living. Our innovative Class A apartment homes reflect a modern, warm, and relaxed lifestyle. We call it Achieving Excellence. Our residents call it their Abode,” commented President and CEO, Daniel J. Moos.

Abode Properties is a subsidiary of Transcontinental Realty Investors (NYSE: TCI), a Dallas-based real estate investment company. Abode’s investment and strategic focus is to buy, develop, and operate a portfolio of desirable multifamily residential properties.

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The Housing Divide

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(RECAP: A giant excavator shovels hundreds of crumbled cinderblocks along West Main Street, clearing the remnants of an ancient office building. A new six-tale apartment building called The Standard is set to take its place, adding nearly 650 bedrooms to Charlottesville’s rental market. But not one of these will be priced as affordable for lower-income residents in the city. Instead, they’re aimed at University of Virginia students. Most 2-bedrooms in Charlottesville range between $1,000 to $1,800 a month, according to a recent study commissioned by the city. That’s on par with Virginia Beach, according to U.S. Census data, and exceeds average rents in cities such as Richmond, Roanoke, and Harrisonburg. Anecdotally, people are moving away, to places within driving distance, such as Waynesboro or Scottsville, but where 2-bedrooms go for less than half as much.)

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Fed's Bullard says Trump economic policies will have little impact this year

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(RECAP: President-elect Donald Trump’s fiscal policy plans are more a tale for 2018-2019 than this year, said St. Louis Fed President James Bullard on Thursday. In an interview on CNBC, Bullard said growth in 2017 is pretty much “baked in the cake.” He said he thinks the economy remains in a low interest-rate and slow growth environment that is not going to change by “snapping fingers.” Bullard said he still thinks economic conditions will justify only one interest rate this year and the Fed has time to wait and see what develops.)

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