Table of Contents September 2007

FEATURES

• Faux Real: Imitation Building Products

  George Washington would surely be impressed with today's selection of imposter building products and materials. After all, he perfected the art of imitation way back in the 1700s when he redesigned his home, the famous Mount Vernon estate just outside of Washington, D.C. The nation's first...

   

• High Societies: Tough Multifamily Markets

  When Essex Property Trust, a Palo Alto, Calif.-based REIT, went public in 1994, it brought a distinct operating philosophy to the multifamily universe: to acquire, develop, and own apartment communities in high-barrier, supply-constricted markets. At the time, Avalon Properties (now AvalonBay...

   

Cover Story

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  Developer Fuel: "Emerging Developer" Fund

  Victor MacFarlane knows what it takes to become a successful real estate developer. It takes cash—and lots of it.

   
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  Urban Groundbreakers: Meet Victor MacFarlane

  MacFarlane Partners celebrates 20 years of changing the face of the inner city and re-urbanizing America, one block at a time.

   

FROM THE EDITOR

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  Howdy, Partner: Form Wise Partnerships

  I hated my chemistry lab partner in college. He was always late to class, had never read the assignments, and fell asleep when we—correction, when I—was working on our final report. But I was stuck with him, thanks to a random drawing. By the end of the semester, I had decided that if I ever became...

   

CORNER OFFICE

• Beyond Borders: Free Trade

  One of the many tough issues facing policymakers these days is trade. Using the North American Free Trade Agreement (NAFTA) as a model, the White House has been pursuing free trade agreements with additional countries and regions. But opposition to such agreements, both inside Congress and outside...

   

NEWS + NUMBERS

Stat of the Month

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  Trend Breakers: Midwest Drives Rents

  Multifamily firms that continue flocking to coastal markets to court Gen Y and empty-nest retiree renters could be missing out on better action in the nation's heartland. According to “Lifestyle Renting on the Rise,” a report released June 29 by CB Richard Ellis' Torto Wheaton Research division...

   

Direct Reports

• Dog Days: Fair Housing Lawsuits

  In July, HUD levied two separate charges against landlords who allegedly violated the Fair Housing Act by refusing to accommodate residents with assistance animals. Mahmoud Hussein of Windsor Locks, Conn., and Bouquet Builders of Rochester, Minn., will both answer to a HUD administrative law judge...

   

• Q & A

   

• New Jersey's Finest: N.J. Workforce Housing

  Residents in West New York's six affordable housing developments will be sleeping easier since the addition of live-in police officers at the complexes.

   
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  News Bites: September

  Green Competition, Universal Site, Urban Explosion.

   
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  Thinking Big: Kushner Sells Apartments

  Kushner Cos. is gearing up for the big leagues. The private real estate firm recently sold nearly 17,500 New Jersey apartment units for roughly $2 billion and is already reinvesting the money in a few choice properties in the Big Apple. The firm's most notable purchase: 666 Fifth Avenue, an office...

   

Regional

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  Rental Central: Providence Multifamily Market

  With limited additions to rental supply and favorable regional economic trends, apartment fundamentals in the Providence metropolitan region have been strong in 2007. Additional apartment demand has been spurred by positive economic trends in the area, including solid job growth and encouraging...

   

PEOPLE + PLACES

Apartment Life

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  Old Icon: New Life: Montgomery Ward

  As soon as the Montgomery Ward building opened in Fort Worth, Texas, in 1928, it dominated the city's retail scene and became an iconic feature of its skyline. For decades, shoppers browsed the eight-story building for fashions and furnishings, while the site's mail-order warehouse shipped...

   
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  Planting Seeds: Gardens As Amenities

  Apartment owners and managers are adding wheelbarrows and shears to their amenity toolbox. According to the American Community Gardening Association, there are at least 18,000 community gardens throughout the United States and Canada. And more and more of them are in apartment communities.

   

Corporate Ladder

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  Extended Stay: Q&A with Don Dreusike

  One never knows when a short-term arrangement will yield a long-term payoff. In Don Dreusike's case, his consulting gig with Urban Housing Group's Mission Bay project in early 2007 led to the creation of a new position there—vice president of construction—and Dreusike was just the man for the job...

   

SALES + SOLUTIONS

New Developments

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  Local Leads: City Park Aventura in Aventura, Fla.

  There is no place like home when it comes to designing a successful mixed-use housing project, according to Yizak Toledano, founder and CEO of Aventura, Fla.-based Sky Development. Toledano's latest project is in his own backyard: City Park Aventura, a 7.4-acre project of 53 townhomes and 51...

   
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  Dorado Seniors Apartments

  Dorado Seniors Apartments in Buena Park, Calif., looks more like a luxury resort than a senior housing community. But what makes the project even more appealing is that the Dorado provides attractive, affordable housing for seniors in one of the nation's most expensive housing markets, Orange...

   

Done Deal

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  Record Breakers: Giant Multifamily Deals

  Even in the shadow of the Sears Tower—the tallest skyscraper in the United States—Chicago's Presidential Towers command an attention all their own. Built in 1986, the four 50-story towers sit on two city blocks in the West Loop and feature a five-story parking garage with 1,159 parking spaces, a...

   

Tech Specs

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  Signal Strength: WiFi in Apartments

  When the Morgan Group started installing WiFi access points in the common areas of its club houses and pools four years ago, it was slightly ahead of its residents in providing the amenity.

   

PRODUCT STUDIO

• Q & A with Victoria Teschner

   
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  Hot Product of the Month: Paint SCENTsations

  Want to give your apartments a clean, fresh scent? Forget potpourri and try Paint SCENTsations.

   
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  Smart Storage: Cabinents

  If you've ever braved the crowded aisles of IKEA on a Saturday afternoon, you already know that storage and organizational systems are in hot demand. But you may not know just how easy it is to offer residents kitchen and bathroom cabinetry fitted with these types of systems. Major cabinet...

   

LANDMARKS

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  Canal Street Malt House