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In Brooklyn, New York, the recently opened Atrium at Sumner offers 132,418 sf of affordable housing for seniors. The $132 million project includes 190 apartments—132 of them available to senior households earning below or at 50% of the area median income and 57 units available to formerly homeless seniors.
Multifamily rents rose for the fourth month in a row, according to the May 2024 National Multifamily Report. Up 0.6% year-over-year, the average U.S. asking rent increased by $6 in May, up to $1,733.
The average size of new apartments in the U.S. saw substantial growth in 2023, bouncing back to 916 sf after a steep decline the previous year. That is according to a recent RentCafe market insight report released this month.
A growing movement of grassroots organizing to support new housing construction is having an impact in city halls across the country. Fed up with high housing costs and the commonly hostile reception to new housing proposals, advocacy groups have sprung up in many communities to attend public meetings to speak in support of developments.
As cities grow ever more crowded, multifamily housing construction is more necessary than ever. Finding ways to compress housing into smaller spaces while still creating true homes calls for a complex blend of innovative design and engineering.
Largest affordable housing development in the nation will provide housing for close to 500,000 people.
Stiles Construction is building the residential complex, which is one of Broward County’s first multifamily rental communities designed to achieve LEED certification from the USGBC.
Residences at VA Danville to provide community-centered housing for military veterans.
Withee Malcolm Architects’ designs for the project include the complete renovation of the Dunbar Hotel and the Somerville Apartments I and II.
However, since the conditions of the current overall housing market are limiting their ability to sell their existing homes, this market is not recovering as quickly as might have been expected.
Energy-efficiency program to improve 13 senior residential care facilities and save nearly $18 million.
Theater, library, fitness center, and bistro enhance facility.
Across much of the U.S., apartment rents are rising, vacancy rates are falling. In just about every major urban area, new multifamily rental projects and major renovations are coming online. It may be too soon to pronounce the rental market fully recovered, but the trend is promising.
Located on the Garden State Parkway, the master-planned project initially includes the conversion of a 114-year-old, 365,000-square-foot, six-story warehouse building into 361 loft-style apartments, and the creation of a three-level parking facility.
Firm's TriBeCa Loft wins "Archi" for interior design.
