Author Archives: ipgocorp

Political and industry leaders outlined strategies to surmount the affordable housing crisis during the 2016 ULI Spring Meeting.

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(RECAP: J. Ron Terwilliger, chairman of Terwilliger – Pappas Multifamily Properties and the ULI Terwilliger Center for Housing, was the moderator for the panel “A New National Housing Policy,” at the at the 2016 Urban Land Institute Spring Meeting. During the meeting, politicians and real estate leaders discussed one of the conference’s hot topics of conversation: the affordable housing crisis. Terwilliger noted the affordable housing problem is evident through the stats: the U.S. is losing 125,000 affordable rental units every year and one in six Americans families spend more than half their income on housing. With the number of low-income families struggling to find affordable housing only growing, several panelists expressed the need for a new national housing policy that promotes homeownership and makes rental housing more affordable.)

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Arlington to Spend More on Economic Development, Affordable Housing as Jobs Shrink and Population Grows

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(RECAP: Arlington County is faced with the unenviable scenario of a rising population coinciding with a shrinking number of jobs, which it’s taking steps to address. The Arlington County Board has unanimously approved a new budget for fiscal year 2017 that will see the county increase spending in some key areas, including an additional $1.5M for Arlington Economic Development, with a “focus on lowering the commercial vacancy rate.” Additional highlights include $13.6M for the Affordable Housing Investment Fund, which is $1.1M more than what was proposed by county manager Mark Schwartz, ARLnow reports. The budget coincides with the county’s release of its 2016 profile, which shows a rising population—but a declining number of jobs.)

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MORGAN Completes Sale of The Edge at Flagler Village Luxury Multifamily Midrise in Fort Lauderdale

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FORT LAUDERDALE, FL – MORGAN, a leader in upscale multifamily development, construction and property management, has sold its 331-unit The Edge at Flagler Village multifamily property in Fort Lauderdale to an institutional investor. This midrise apartment building is located in the heart of Fort Lauderdale’s urban core.

MORGAN completed construction on The Edge in January 2015. 

Active in the Florida market since the 1990s, MORGAN has developed 3,500 multifamily units in Miami, Orlando, Jacksonville and Sunrise in addition to Fort Lauderdale. In Miami, MORGAN plans to open Pearl Dadeland, a 412-unit luxury apartment complex, later this year and recently started construction on a 20-tale residential high rise in Midtown. 

“Downtown and Flagler Village are merging into a single neighborhood, which has shifted the center of gravity in Fort Lauderdale north,” said MORGAN Regional Vice President Evan Schlecker. “This is evidenced by the increase in apartment units, retail offerings and transportation options. MORGAN recently bought another site in Flagler Village where we hope to replicate the success we had with The Edge.”

MORGAN is a privately held national developer and manager of Class A multifamily properties. With headquarters in Houston, TX, MORGAN specializes in upscale urban construction and third-party property management across the United States. Since 1988, MORGAN has developed over 18,000 units at a cost of $2.3 billion with a $500 million project pipeline currently in development or under construction.

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