WESTBOROUGH, MA – Toll Brothers, the nation’s leading builder of luxury homes, through its Toll Brothers Apartment Living subsidiary and its joint venture partner The Davis Companies, an integrated real estate investment, development and management firm, announced the opening and launch of leasing at Parc Westborough, a 249-unit luxury apartment community located in Westborough, MA. The development’s luxury one, two, and three bedroom apartments provide top-notch onsite amenities, as well as convenient access to area dining, shopping, and recreation.

The community offers an unmatched array of resort-style amenities including a saltwater pool with a sundeck, an outdoor fire pit, lounge, and grilling area, a resident lounge and game room, a fitness center with an interactive cardio room, and a pet spa. Each residence includes plank flooring, stainless-steel appliances, granite kitchen countertops, and a washer and dryer. Select homes also include exterior patios or balconies.

Parc Westborough is located less than two miles from the Westborough MBTA commuter rail station. Just 45 minutes outside of Boston, the town of Westborough sits at the intersection of the Mass Pike, Route 495 and Route 9, offering residents access to a number of top-ranked schools, extensive public services and ample, verdant outdoor space including the ski resort at Wachusett Mountain.

“We’re extremely excited to open our first luxury rental apartment community under the Toll Brothers Apartment Living brand in the Boston area and to partner with The Davis Companies,” said Charles Elliott, Managing Director of Toll Brothers Apartment Living. “This project has been incredibly well received, and we are looking forward to continuing our expansion in the residential rental market and across the Boston metro area.”

“Parc Westborough provides convenient, luxurious living in Westborough,” said Gary Hofstetter, Senior Vice President of Asset Management at The Davis Companies. “We loved partnering with the esteemed Toll Brothers’ team to enhance Metro West resident life with this best-in-class apartment community.”

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CORPUS CHRISTI, TX – Corpus Christi Councilmember and Mayor Pro Tem Colleen McIntyre (D-4) will join representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Wells Fargo, and Prospera Housing Community Services for a groundbreaking ceremony for the Glenoak Apartments.

The event will take place at 9:30 a.m. Thursday, August 11, 2016, at 711 Glenoak Drive in Corpus Christi, Texas. The media is encouraged to attend.

The groundbreaking ceremony will celebrate the beginning of the reconstruction of the 68-unit affordable multifamily apartment community, located in the Flour Bluff area of Corpus Christi.

Prospera Housing Community Services received a $476,000 Affordable Housing Program (AHP) grant from FHLB Dallas and Wells Fargo in 2015, which provides gap funding for the $14 million project.

AHP grants are available annually through FHLB Dallas member institutions such as Wells Fargo to help in the development of affordable owner-occupied and rental housing for very low- to moderate-income households located across FHLB Dallas’ five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

This year, FHLB Dallas awarded $7.8 million in AHP grants to 27 projects that will result in 1,499 new or renovated housing units.

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ORLANDO, FL – Florida’s housing market reported more new listings, higher median prices and fewer days to a sales contract during the second quarter of 2016, according to the latest housing data released by Florida Realtors. Closed sales of single-family homes statewide totaled 76,748 in 2Q 2016, up 1.4 percent over the 2Q 2015 figure.

“In the second quarter of 2016, Florida continued to add new jobs, which attracts new residents, encourages economic growth and strengthens the housing market,” said 2016 Florida Realtors® President Matey H. Veissi, broker and co-owner of Veissi & Associates in Miami. “Traditional housing sales increased statewide over the three-month period, while sales of distressed properties continued to decline. In another positive sign, new listings for single-family homes over the three-month-period rose 2.9 percent year-over-year, while new condo-townhouse listings rose 3.3 percent.”

The statewide median sales price for single-family existing homes in 2Q 2016 was $220,000, up 10 percent from the same time a year ago, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. The statewide median price for condo-townhouse properties during the quarter was $163,000, up 5.2 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

Looking at Florida’s condo-townhouse market, statewide closed sales totaled 31,699 during 2Q 2016, down 2.7 percent compared to 2Q 2015. The closed sales data reflected fewer small sales – and rising traditional sales – over the three-month period: Small sales for condo-townhouse properties declined 42.2 percent while small sales for single-family homes dropped 36.7 percent. Meanwhile, traditional sales for condo-townhouse units rose 6.9 percent and traditional sales for single-family homes increased 14.4 percent year-over-year. Closed sales typically occur 30 to 90 days after sales contracts are written.

“Existing home sale prices throughout most of Florida’s metro areas are continuing to exhibit robust year-over-year growth,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “This growth is attributable to simple economics, which is to say that demand is strong and supply is currently limited. The inventory of homes for sale at the more affordable end of the price spectrum – which includes the vast majority of distressed properties – continues to decline significantly, and new construction has not come close to making up the difference.”

In 2Q 2016, the median time to a contract (the midpoint of the number of days it took for a property to receive a sales contract during that time) was 42 days for single-family homes and 50 days for condo-townhouse properties.

Inventory was at a 4.3-months’ supply in the second quarter for single-family homes and at a 6-months’ supply for condo-townhouse properties, according to Florida Realtors.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.59 percent for 2Q 2016, significantly lower than the 3.96 percent average recorded during the same quarter a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Media Center.

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