November 2005 Table of Contents

Get in the Game Get in the Game

Knowing how your compensation and benefits packages compare to others in the business not only helps you compete for the most in-demand employees and reduce turnover in your corporate office and on-site, but it can also be of assistance in budgeting and goal-setting. Read more

Salary Scale Salary Scale

Few tidbits are as interesting to people as how much money other people make. Whether it's the Wall Street Journal's annual list of the highest-paid CEOs or Parade magazine's "What People Earn" report, we're all curious about everyone else's compensation. Read more

Costly Rebuilding Costly Rebuilding

Larry Kraemer's job just keeps getting more and more difficult. Kraemer, the vice president of estimating for Harkins Builders in Marriottsville, Md., felt the pricing pain in 2004 and 2005 as construction prices went up by double digits. So when Hurricane Katrina recently devastated more than 200,000 housing units in the Gulf Coast and New Orleans, Kraemer feared more than just rising prices. Read more

Boston Uncommon Boston Uncommon

Boston, home to the Super Bowl and–finally!–World Series champions, is on the road to economic recovery, which means good news for its multifamily market. Business demand and production growth are benefiting local employment, with job growth expected to have increased by 2 percent by the end of the year. Roughly one-third of the 62,000 new jobs will be well-paid positions in the professional and business services sector. And, the unemployment rate is expected to ease, to 5.2 percent. Read more

Fierce Fighter Fierce Fighter

Her voice suggests a perky 15-year-old, and she stands barely five feet tall. But those who have seen Debra Cafaro in action know that she is anything but a pushover. Read more

Details, Details Details, Details

ING/Clarion and Gables. Colonial Properties Trust and Cornerstone. Camden and Summit Properties. With the smallest of these transactions valued at a cool $1.1 billion, these three easily qualify as the biggest multifamily deals completed this year. But "bigger" doesn't translate into "better" in a merger or acquisition unless company executives pay attention to all the particulars in the transition process. "In any kind of merger, the integration is complex and detailed, and where people go astray is when they don't get down and reconcile the details," warns Richard J. Campo, Camden's chairman and CEO. Read more

Follow the Opportunity Follow the Opportunity

If you've ever met Randy Ell, you'll remember him. Tall and outgoing, he is committed to the multifamily industry and the property management people who keep those apartments running. Now he's dedicating that energy to Fifteen Group, a Miami-based firm that Ell joined in July as president. Previously he served as president of Summit Properties' management company and as an executive vice president at the public REIT, which recently merged with Camden. Ell has a bachelor's in economics from UCLA. Read more

Art Appeal Art Appeal

Las Vegas-based developer H.U.E. Lofts is out to prove that there's an art to developing high-rise condominiums–iterally. The developer paid $1.8 million for a half-acre of land that will become a 38-story, 278-condominium project in Las Vegas' redeveloping Art Central area. Read more

Home Improvement Home Improvement

Ray Kingsbury knew one of his organization's affordable senior properties needed help–badly. At The Meadows, a 150-unit senior property in Springdale, Ohio, mortar was crumbling away between the bricks near the building's roofline. There was also no air-conditioning in some of the hallways, and the backup generator needed a new fuel tank. Read more

Standard Issue Standard Issue

Let's say you purchased software to help building staff streamline rent-check processing or let residents sign up online for cable. Perhaps you contracted with a service to handle the screening of prospective tenants. You may have had to struggle to incorporate these little islands of technology into existing paper-based systems for collecting rent, maintaining units, and marketing your building. In fact, you may be pushing still to realize the promise of the Internet to make your processes run more smoothly. Maybe you've even wondered whether it is worth the hassle. Read more

Natural Touch Natural Touch

With its natural blond color and sleek look, a bamboo floor looks much like traditional hardwood floors made from trees. But there is a crucial difference: Trees take 100-plus years to harvest, while bamboo can be harvested in as little as six years. Read more

Villa Riviera Villa Riviera

As you walk toward the Villa Riviera, you get a sense of its majestic Tudor Gothic and French Renaissance influence. Nine menacing gargoyles and one eagle-like statue are perched atop the 16-story landmark. And given the Villa Riviera's pointy steeple and pitched, green copper roof, it's easy to see why the building is the most recognized structure in Long Beach, Calif. Read more

Community Building Community Building

What's one of the greatest allures of living in an apartment or condo? Social activities and amenities–be it relaxing by an outdoor fireplace on a crisp fall night or meeting fellow canine-lovers in the dog park. This year's Multifamily Executive award winners capitalized on creating a sense of community. They thought outside the unit, using stellar amenities and innovative designs to bring residents together. Read more

Close X