ALEXANDRIA, VA – e-lofts, a revolutionary real estate concept offering highly amenitized loft-style spaces that can each be used as either an apartment, office or live/work space, announces the opening of its first location.  Located at 4501 Ford Avenue in Alexandria, Virginia, e-lofts Alexandria features gorgeous, open loft-style spaces that can each be used, at all times, as either an apartment, office or live/work space at the user’s choice.

“We are excited to be opening our first e-lofts project in Alexandria.”  Robert Seldin, CEO of e-lofts remarks, “This is the only product of its type that combines unmatched style with unprecedented amenities to meet the ever changing demands of both living and working today.”

e-lofts Alexandria represents the culmination of a two year and $50 million effort to completely transform a formerly vacant 240,000 square foot building into 200 market leading loft style units ranging in size between 650 and 1,200 square feet with prices starting at $1,800. Each loft makes the perfect apartment for residents who desire more usable living space without extra cost, teleworkers, home-based businesses, or companies with 10 or fewer employees. e-lofts members – either resident or business – sign a typical 12-month, apartment-style lease, and then just bring their furniture. Loft amenities include open floor plans, 10-foot exposed ceilings, plank flooring, European kitchens, deluxe baths,100% LED lighting, filtered air and water, fiber to the unit and business-ready electrical and data service.  Building amenities include a professional-grade fitness center, a 30,000 square foot amenity deck, pet salon, community social kitchen, multiple conference facilities, co-working and breakout workspaces and sound proof music practice facilities.

e-lofts Alexandria is located just minutes from Reagan National Airport, The Pentagon, downtown Washington, DC, the Rosslyn / Ballston Corridor in Arlington and Ancient Town Alexandria. e-lofts plans five additional locations in the Washington, DC metro area as well as in select markets around the US.

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DALLAS, TX – Year-over-year apartment rent declines in some of the nation’s highest-priced markets continued to affect the overall national market, as performance moderated in the third quarter of 2016, according to early figures from Axiometrics, a provider of apartment and student housing market intelligence.

The average effective rent nationwide was $1,289 per unit per month, compared to $1,251 in the third quarter of 2015.

That marked a year-over-year increase of 3.0% for the third quarter of 2016, more than 2 percentage points below the robust 5.2% rent growth of one year ago. This marked the fourth straight quarter in which the annual rent-growth rate decreased.

“While the national apartment market is still performing above the long-term average, the moderation from the unsustainable levels of 2014 and 2015 has come, as Axiometrics predicted,” said Jay Denton, Axiometrics Senior Vice President of Analytics. “In particular, rent growth has declined precipitously in markets with the highest rents in the country, such as New York and the San Francisco Bay Area.”

Rent levels declined year over year in the three major markets with the highest rents — San Francisco, New York and San Jose — and increased by less than 2% in the fourth highest rent-growth metro, Oakland.

Although Houston isn’t a high-rent market, its -2.8% rent growth in the third quarter also helped weigh down the national rate.

Hartford, Birmingham and Oklahoma City also experienced negative annual rent growth.

“Job growth isn’t terrible in the Bay Area and New York, though the rate has slowed over the past year, so demand for apartments is still relatively strong,” Denton said. “But, the amount of new supply that has been and will be delivered to these markets is extremely large and is forcing owners and developers to keep rents lower than they would like so they can remain competitive.”

San Francisco, though, may be showing some signs of recovery. Though year-over-year rent growth was negative, the average third-quarter rent was 2.6% higher than the average second-quarter payment.

“What that tells us is that the metro’s decline came last fall and winter,” Denton said. “If job growth picks up, the apartment market will gain strength.”

Houston is being affected by job losses in the energy sector, as well as a glut of supply in the urban core Montrose/River Oaks submarket.

“Urban cores in general are showing slowing performance,” Denton said. “The market is feeling the effects of the concentrated new supply in these submarkets. Nationwide, but, supply is just keeping up with the demand.”

The slower performance of high-priced markets is somewhat counteracted by robust fundamentals in secondary markets. For example, annual effective rent growth in Sacramento; Riverside, CA; Salt Lake City; Las Vegas; Fort Worth; Tampa-St. Petersburg; and Nashville are among the 10 highest in major markets.

Effective rents increased 1.2% in the third quarter over the second quarter. The rent-growth rates for the past four quarters have been lower than the previous corresponding quarters. Occupancy was 95.1% in the third quarter, compared to 95.2% in the second quarter and 95.4% in the third quarter of 2015.

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COLLEGE PARK, MD – Monument Village at College Park, a groundbreaking new lavish apartment community bordering the University of Maryland, hosted its grand opening celebration. The official ribbon cutting ceremony was attended by county officials in addition to University of Maryland housing officials.

This casino themed event featured casino tables and dealers where attendees played for Monument Village branded poker chips that may be exchanged for raffle entries. The grand opening celebration was be catered and a photographer was on hand to capture the memories and moments.

Monument Village at College Park is a luxury mid-rise, boasting 235 units with 27 different floor plans. Floor plans range from junior one bedrooms, to one bedrooms, one bedroom dens, one bedroom lofts, two bedrooms, and two bedroom lofts. Apartment features include gourmet kitchens with stainless steel appliances, granite countertops, tiled backsplashes and high gloss kitchen cabinets. USB charging ports are found in each apartment home along with tiled showers, washers and dryers, hardwood style flooring, and wireless remote controllable thermostats.

Community amenities include 24/7 electric package concierge services, a private heated outdoor pool with patio and grilling area, movie theater room, business center with Wi-Fi café, bicycle storage and repair room, pet spa and dog run, fitness center with yoga and spin room, keyless entry doors with controlled access to the garage and building, in addition to several other features. The community is anticipated to be Silver LEED certified.

Monument Village is conveniently located between I-495 and the University of Maryland. The community provides simple access to public transportation including College Park Metro, Greenbelt Metro and the Greenbelt MARC station and is within 10 miles of Washington, D.C.

Monument Village at College Park is under the ownership of Monument Realty, one of the nation’s top performing development firms. The community is under the professional management of Lincoln Property Company, the second largest multifamily manager in the United States.

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