Author Archives: ipgocorp

Affordable Housing at 60: Insiders Look Ahead Three Decades

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(RECAP: When the Tax Reform Act of 1986 was enacted 30 years ago–Oct. 22, 1986–few thought that the low-income housing tax credit (LIHTC), a small provision in the sweeping legislation, would change affordable housing in America. Yet as it celebrates three decades, the LIHTC is widely viewed as the most successful federal affordable housing program in history, surpassing even the most optimistic views in 1986. But what will affordable housing look like 30 years from now? We questioned six affordable housing experts for predictions about affordable housing in 2046, in the interim and what should be done to bring about the best outcome three decades down the road. One conclusion: The largest change could be soon.)

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Millennial borrowers finally reap benefits of this year’s low interest rates

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(RECAP: Millennials reaped the most benefits from this year’s low interest rate in August, as the average rates on home loans obtained by the generation fell to 3.76% for the month, the latest Ellie Mae Millennial Tracker data found. Ellie Mae, which offers clients loan origination software, launched the tracking tool in May of this year to give lenders insight into the latest and largest generation of homebuyers, Millennials. As the home loan rate for Millennials decreases, the average loan amount to Millennial borrowers increased to $181,326, growing from July’s average of $180,413. The average loan amount for both conventional and FHA loans also increased, to $203,884 and $172,667, respectively. The report also noted that the average FICO score for Millennial borrowers remained stable at 725 in August after rising the past few months.)

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Kettler Provides Spark for Crystal City with Opening of New 198-Unit High-Rise Apartment Building

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ARLINGTON, VA – Kettler, one of greater Washington, D.C.’s leading real estate development and property management companies, announced the opening of m.flats Crystal City, an 11-tale, 198-unit, high-rise apartment building located in the Crystal City neighborhood of Arlington, Va.

m.flats not only revives a site once occupied by the former Crystal City Post Office, but provides a community conveniently located just one block from the Crystal City Metro offering simple access to work, entertainment and downtown Washington, D.C.

“m.flats will provide a spark that will help Crystal City become the vibrant community we all envision,” said Robert C. Kettler, Chairman and Chief Executive Office of Kettler. “It not only expands the number of residences, but takes Crystal City a step closer to becoming a thriving transit-oriented, walkable neighborhood.”

m.flats was the first residential building proposed to the Arlington County Board since the adoption of the Crystal City Sector Plot in 2010. The plot is a roadmap adopted to redevelop Crystal City through 2050.

“Demand for luxury city living is especially strong in the Arlington submarket,” added Pamela Tyrrell, Vice President of Multifamily for Kettler. “Many young professionals want a home that features an array of amenities, is in close proximity to mass transit as well as dining and entertainment options. m.flats offers all of the above in a boutique, well designed building.”

“KTGY designed an exterior aesthetic at m.flats that is contemporary yet restrained. In contrast to the existing 1960s-era buildings, the facades add color, texture and transparency,” stated Rohit Anand, Managing Principal at KTGY Architecture + Plotting’s East Coast office in Tysons.

m.flats Crystal City offers primarily one- and two-bedroom units as well as standard unit finishes including washed oak flooring, quartz countertops and stainless steel appliances.

Building amenities include a club room equipped with WiFi and ample lounge areas, fitness center, bike storage and workstation, and an all-season landscaped courtyard with fire and water features. The rooftop amenities include multiple entertainment spaces with outdoor seating and dining areas, outdoor kitchens with grills, fireplace, as well as a southern-facing sundeck with cabanas overlooking the rooftop swimming pool and views of the city.

The LEED Silver designed high-rise is Kettler’s sixth multi-family building in the Crystal City/Pentagon City market. Kettler opened The Acadia, a 411-unit high-rise luxury apartment building in Metropolitan Park, spring of 2015.  Construction on m.flats Crystal City started at the end of October 2014. International award-winning KTGY Architecture + Plotting was the architect on the project, Bohler Engineering, a civil engineering and consulting services firm, the engineer, and John Moriarty & Associates, the general contractor.
 

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