October 2007 Table of Contents

City Icon: One Rincon Hill City Icon: One Rincon Hill

San Francisco's Rincon Hill neighborhood has so far failed to achieve the prominence of the nearby neighborhoods of Nob Hill or Telegraph Hill. But city leaders are hoping that Urban West Associates' newest residential project, One Rincon Hill, will bring some much desired attention to the area, which is located in the South of Market district just south of San Francisco's downtown financial district. Read more

Outside the Norm: Signature Tower Outside the Norm: Signature Tower

Tennessee may not be the place where you'd expect to find one of the biggest skyscrapers in the States, but the 1,118-foot Signature Tower in downtown Nashville will be the tallest U.S. building outside of New York and Chicago and the tallest in the Southeast when it's completed in 2010. Read more

Two for One: Q1 Two for One: Q1

It's all about the view at Q1, a residential tower with ground-floor retail that looms over Surfers Paradise, one of the hottest beaches in Gold Coast City in Queensland, Australia. Read more

Economic Engine: Burj Dubai Economic Engine: Burj Dubai

Can one building be the economic catalyst for an entire city? It might, as long as that building is Burj Dubai, a 1,680-foot tower that anchors Downtown Burj Dubai, a $20 billion, 500-acre downtown development in Dubai, United Arab Emirates. Read more

Magnificent Milestone: Chicago Spire Magnificent Milestone: Chicago Spire

As the home of the Sears Tower and the John Hancock Tower, Chicago has its fair share of tall buildings. But no building in the Windy City can compare to The Chicago Spire, a 2,000-foot tower situated on a 2.2-acre peninsula where Lake Michigan meets the Chicago River. Read more

Sky High: Tall Residential Towers Sky High: Tall Residential Towers

Coming soon: the tallest residential building in your time zone! Read more

Deep Background: Proxy Statements

If you've ever had the burning desire to sit in on secret REIT board meetings where buyouts are complicated and privatization deals are brokered, than EDGAR is your access man. EDGAR, the Electronic Data-Gathering, Analysis, and Retrieval system at the U.S. Security and Exchange Commission acts as a clearing house for all electronic reporting required of public companies. One of those requirements is that firms involved in a privatization must file a “definitive merger proxy” statement that discloses a nearly day-by-day account of the meetings, parties, and motivating reasons behind a privatization. Read more

Public Exit: REIT Privatizations Public Exit: REIT Privatizations

As you read this, history is being made. The joint venture of New York City private equity firms Tishman Speyer Properties and Lehman Bros. Holdings is about to seal the deal on its $22.2 billion acquisition of Denver, Colo.-based Archstone-Smith Trust, the titanic multifamily apartment real estate investment trust that will be taken private for $60.75 per share. Read more

Walk This Way: WalkScore Walk This Way: WalkScore

Today's Internet will change how you do business tomorrow. Are you ready to take the first step? Read more

Supercharged Lending: Fannie Mae

Fannie Mae participated in financing $27.2 billion in multifamily rental housing during the first half of 2007—a new record for six-month production—the Carlsbad, Calif.-based mortgage company announced July 23. Debt financing by Fannie Mae's Delegated Underwriting and Servicing lenders provided nearly half ($14 billion) of the company's overall total, which also was powered by multifamily bond purchases and investments in low-income housing tax credits through syndication partners. Read more

Cold Turkey: Smoke-Free Apartments Cold Turkey: Smoke-Free Apartments

For Guardian Management, the process of banning smokers from lighting up in apartments was a relatively easy one. On Sept. 1, the Portland, Ore.-based fee manager just said no at more than 3,000 units across the Portland metro, and notified an additional 5,000 units across the company's national portfolio that they had until Jan. 1, 2008, to stub it out. Talk about your New Year's resolutions. Read more

Shipped Out: Military Housing Vacancies

As increases to troop levels across the Middle East continue unabated, all is quiet on the home front. Too quiet, in fact, for multifamily property managers and owners in military towns facing huge occupancy drops at properties traditionally leased up by men and women in uniform. Read more

Big Easy Rebirth: Rebuilding New Orleans Big Easy Rebirth: Rebuilding New Orleans

Looking for a tell-tale sign that New Orleans is on the road to recovery? Try this: Early next year, Donald Trump will finally break ground on the highly anticipated Trump International Hotel & Tower, a hotel-condo hybrid located adjacent to the historic French Quarter. The Donald hasn't given up on the Big Easy—and he's not the only one. While the rebuilding efforts have certainly been painfully slow at times, the city is gradually returning to life after the devastation of hurricanes Rita and Katrina just over two years ago. A large number of multifamily and commercial construction and renovations are under way, many thanks to grants and other financial initiatives to help rebuild the city. Read more

Texas Tenacity: Dallas Multifamily Market

All signs point to prosperity in the Dallas/Fort Worth multifamily market. Read more

Bon Appétit: Community Cooking Classes Bon Appétit: Community Cooking Classes

These days, prospective residents have seen it all—an Olympic-sized swimming pool, a fitness facility in the basement, a freshly modernized lobby. Such amenities have gone from impressionable perks to expected standards. With many markets as competitive as ever, companies are always looking for a new hook, an alternative to the now-average amenity. Read more

Heavenly Haven: Riverwood Pines Heavenly Haven: Riverwood Pines

It's not every day that affordable housing meets historic preservation. In Little Falls, Minn., however, some residents are enjoying early 1900s architecture, turn-of-the-century masonry, brand-new apartment interiors—and government-subsidized rent. Read more

Lifelong Learning: Q&A with Mark Randall Lifelong Learning: Q&A with Mark Randall

Mark Randall is a lifer. “I've never been out of a job, and I've worked in this industry my entire career,” says the newly appointed director of Wood Partners' Southeast division. “I can't think of a better job. It's been a lot of fun.” After a decade each in construction and development, he's now putting his experience to work in one of the busiest markets in the country. Randall, who has been at Wood Partners for eight years, holds a bachelor's degree in building construction from Georgia Tech. Read more

Developing South Central: Bethany Square in Los Angeles

For as long as Scott A. Chaplan can remember, South Central Los Angeles has been the land of broken promises. Read more

The Mercado Project Of The Month The Mercado

Creating the appearance of an old European market building is what the architects at Looney Ricks Kiss were going for when they penned the blueprints for The Mercado, a mixed-use development in Rosemary Beach, Fla., an upscale, neo-traditional town on northwest Florida's gulf coast. They took the idea literally: The word “merado” means “market” in Spanish and Italian. Read more

Extra Credits: Quality Tax-Credit Projects Extra Credits: Quality Tax-Credit Projects

Jamboree Housing's Granite Court is the epitome of Orange County, Calif., multifamily living. When it opens in December 2008, the podium-style project of one-, two-, and three-bedroom apartments in the heart of Irvine will boast an outdoor courtyard with barbecues; a “tot lot” children's play area; a Wi-Fi active clubhouse with a demonstration kitchen and art gallery; a state-of-the-art fitness center; and earth-friendly finishes like bamboo flooring and low-flow appliances. Embracing New Urbanist concepts, Granite Court is also less than one-quarter mile from public transit and within walking distance of shopping, medical services, churches, and schools. Read more

Under Warranty: Managing Product Warranties

Forrest White, director of asset engineering for Alliance Residential Co., has a tight budget for the rehab projects he oversees at the Phoenix-based multifamily developer and third-party manager. A stickler for detail, he keeps a close eye on costs, reviewing line-by-line expenditures for the 10,000 units in Alliance's renovation pipeline. When White saw double payouts for vinyl floors at units less than a year old, he knew something wasn't right; those floors should have been covered by a manufacturer's warranty. Read more

Q & A With Ken Hodges

Cool Question of the Month Read more

Hot Product of The Month: Insteon Wireless Technology Hot Product of The Month: Insteon Wireless Technology

Insteon wireless technology can control all the mechanical and electrical systems within a specific area or an entire building. Read more

Product Studio: Outdoor Lighting Product Studio: Outdoor Lighting

Highlight landscaping and provide safety with these outdoor lighting products. Read more

Lights Fantastic: Outdoor Lighting Lights Fantastic: Outdoor Lighting

Multifamily developers and owners spend thousands of dollars on landscaping, lawn services, and expensive outdoor elements such as pools, decks, and patios. Yet they often overlook the importance of exterior lighting, which not only highlights landscaping, but also provides a measure of safety. Read more

Villa Rockledge Villa Rockledge

Overlooking the Pacific Ocean, atop a seaside cliff in the famed Laguna Beach area of Orange County, Calif., sits a landmark property known as the Villa Rockledge. Read more

Mr. Fix It: Meet Dave Woodward Mr. Fix It: Meet Dave Woodward

Give the 2007 Executive of the Year any problem—big or small—and he will find a way to fix it, often by soliciting the advice of both corporate players and on-site property managers. In just seven short years, Woodward transitioned Laramar Communities from a small, niche player to a national value-add real estate firm with a solid industry-wide reputation. Read more

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