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If only FEMA prepared for a disaster as well as The Mitchell Co. While confusion and inactivity plagued the government's response to Hurricane Katrina, this diversified Gulf Coast multifamily company mobilized almost immediately to help its properties and communities.
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More than a year after Hurricane Katrina devastated New Orleans and the Gulf Coast, questions and confusion still reign in rebuilding plans for the city. A key sticking point: a HUD redevelopment program intended to remake public housing in the Big Easy.
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When Jefferson Parish finally allowed A. David Lynd to visit Laurel Gardens, his 60-unit property in Metairie, La., one week after Hurricane Katrina ravaged the Gulf Coast, he didn't know what to expect. He found rain-soaked units, debris on his grounds, sheetrock damage, and, perhaps most shocking...
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Call it the post-Katrina effect. When Camden Property Trust recently decided to adjust its Houston portfolio by selling a few of its older properties, it encountered a level of interest it hadn't seen in years. "Instead of seven or eight offers, you're getting 14 or 15 offers," says Ric Campo...
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When Hurricane Katrina blew across the Gulf Coast and devastated New Orleans, she left countless businesses broken in her wake after she essentially wiped out critical communications infrastructure; dowsed systems and facilities with dirty, debris-laden water; and brought business operations to a...
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In the blur our daily lives have become (What are we having for dinner? What time was that meeting? Where's my BlackBerry?), we now forget about attention-getting tragedies almost as quickly as the 24/7 news networks make sure we hear about them. Remember the December 2004 tsunami? Just over a year...
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The waves of Hurricane Katrina evacuees needing housing hit apartment companies almost as quickly as the storm itself. "We really had no time for preparation," admits Misti Thompson, assistant manager at Champions Green, an Alpharetta, Ga., community managed by Atlanta-based Lane Co. for Butler...
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Earlier this year, Ron Terwilliger and his senior management team at Trammell Crow Residential in Atlanta had an experience that the multifamily leader never wants to repeat again. "We were on a two-hour conference call about a class action lawsuit in Florida over some bizarre judge's ruling about...
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This is no fake-out: Multifamily leaders expect 2006 to be a year of recovery for the industry. Are you thinking, I've taken that bet before and lost big? Weren't '04 and '05 supposed to be years of recovery? Well, huddle up: With the national vacancy rate falling, rents rising, and concessions...