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Reno rent market at record-high prices, near-zero vacancy

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Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-and-demand scenario that saw the cost of housing skyrocket in the Biggest Little City. (Andy Barron/The Reno Gazette-Journal via AP) Photo: Andy Barron, AP / The Reno Gazette-Journal" class="landscape" /> residential development during the recession gave birth to a classic supply-and-demand scenario that saw the cost of housing skyrocket in the Biggest Little City. (Andy Barron/The Reno Gazette-Journal via AP) Photo: Andy Barron, AP / The Reno Gazette-Journal" class="landscape" src="src" /> Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-and-demand scenario that ...

New Residents Rush To Fill First Apartments At Runway Playa Vista; Leasing Activity Far Exceeds

PLAYA VISTA, Calif. , Aug. 24, 2015 /PRNewswire/ -- Just six weeks after opening its doors, the first new apartment building at Runway Playa Vista is nearly two-thirds leased. The 100-unit building is the first of four residential communities to open in the Runway mixed-use complex – the downtown of Playa Vista anchored by Whole Foods Market, Cinemark Theatres, CVS, and a wide array of new restaurants and other retailers. The buzz generated by Playa Vista's first new apartment community since 2008 has been palpable. Prospective residents registered to receive online updates and participate in tours of the new development months ago . In July, the first pioneering residents moved in, taking advantage of the new parks and retail areas now coming to life to complete the Playa Vista community vision. Robust interest in the Runway apartment community speaks volumes about the burgeoning market for housing in one of the Westside's most exciting neighborhoods. Besides being ...

Partnerships, shared experences help drive success at Tempe's Residences at Fountainhead

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Residents will discover a multitude of gathering spots dotting the property, and nearby businesses are welcome, too. Residences at Fountainhead (Photo: Residences at Fountainhead) Story Highlights Residences at Fountainhead averages 37 leases a month, credited to improving residents' experiences Residents have perks like 24-hour access to free java from Tempe- based Cartel Coffee Pet owners must supply pet DNA samples to the property manager, helping assure clean grounds Thinking outside the box by creating partnerships with area businesses and fostering its online reputation is paying off for the Residences at Fountainhead apartment complex in Tempe. Situated in a verdant, 90- acre business park close to freeway access and just minutes from Sky Harbor International Airport and the downtowns of Tempe, Phoenix and Scottsdale, the six- building community featuring 322 two-bedroom, two- bathroom homes opened one year ago at 2520 S. Plaza Drive. Since then, it has seen a gross ...

BSR Trust Completes Acquisition of 360-Unit West End Lodge Apartment Community in Beaumont, Texas

BEAUMONT, TX -  BSR Trust announced that it has completed an acquisition of the West End Lodge apartment homes in Beaumont, Texas. The purchase of West End Lodge marks the second acquisition BSR Trust has made in the Beaumont market in under a year. BSR Trust purchased The Pointe Apartments in July of 2015. West End Lodge was built in 2007 and contains 360 residences in an even mix of one bedroom and two bedroom floorplans. It has received an ApartmentRatings.com " Top Rated Award " three of the last four years. The upscale garden- style community adds to the growing list of over 40 multifamily housing properties owned and managed by the Little Rock based company throughout Texas, Louisiana, Oklahoma, Arkansas and Mississippi. The terms of the deal were not disclosed. " West End Lodge is the premier apartment community in Beaumont, and we are proud to expand our operations there." said Daniel Oberste, Chief Investment Officer of BSR Trust. "Our e...

Lincoln Property Opens First 100-Unit Apartment Building at Runway Playa Vista in California

PLAYA VISTA, CA - Lincoln Property Company and Phoenix Property Company have finalized construction of the first of four residential properties in the new Runway development in the heart of the burgeoning Playa Vista community on the west side of Los Angeles. The first building, with 100 units, has achieved two-thirds occupancy only six weeks after opening. An additional 320 units in the remaining three buildings are expected to be ready for occupancy by year’s end. Leasing activity has far exceeded expectations, with a diverse resident base including young professionals , empty nesters and students from nearby Loyola Marymount University .The 100-unit property is the first apartment building to open at Playa Vista since 2008, and the first to be completed and occupied in the new Runway downtown area of Playa Vista now under construction. The mixed-use Runway development is anchored by Whole Foods Market, CVS and Cinemark, and includes a wide variety of on- site retailers includin...

EU probes Bayer’s planned buyout of Monsanto

ANTITRUST EU agency to probe Bayer’s acquisition of Monsanto The European Union’s antitrust watchdog said Tuesday that it has launched a probe into German chemical maker Bayer ’s planned acquisition of US seed and weed- killer company Monsanto . The European Commission, which polices competition in Europe, said it has concerns that the merger may reduce competition in areas like pesticides and seeds. Monsanto last year accepted an offer from Bayer to pay $57 billion to its shareholders and assume $9 billion in debt. Were it to go ahead, the buyout would create the world’s largest integrated pesticides and seeds company. The commission says it will also look into whether the move would hinder the access of competitors to distributors and farmers. — ASSOCIATED PRESS ANTITRUST Brazilian watchdog questions AT&T’s deal for Time Warner Brazil’s antitrust watchdog said AT&T Inc.’s $85. 4 billion deal for Time Warner Inc. poses a high risk to competition, a potential complication...

Top 5: Contractor files $215,000 lien against Pearl District’s Broadstone Enso apartments

Got a story tip? ryanfrank@news.oregonian.com; 503-221-8519. 1. Contractor files $215,000 lien against Pearl District’s Broadstone Enso apartments : Sierra North Construction Inc. of Forest Grove has filed a $215,248 lien against the Broadstone Enso , a 152- unit luxury apartment project at Northwest 14th Avenue and Lovejoy Street. The company paid $6.2 million for the 34,000-square-foot site in September 2008. Construction liens can either be a sign of financial trouble (see Hoffman Construction's lien against the Waterfront Pearl) or just a sign of a dispute between contractor and developer. The developer, Alliance Residential Co. of Phoenix, did not return a phone call this week. The contractor could not be reached. Either way, it’s worth tracking large liens like this one, especially in the glutted luxury apartment market . 2. EPA puts new lead- paint safety rules into effect April 22: I wrote a quick story today about a new EPA law on lead-paint safety that will be a b...

Korper family endures an insidious, skin-crawling infestation: A Greater Cleveland

CLEVELAND, Ohio - Among 12-year-old Princeton Korper's daily household responsibilities : Fold the family's laundry, mind his three younger siblings when their mom is away - and wipe cockroach egg sacs off the kitchen counter. On a summer evening, before he is allowed to join his friends outside, Princeton matter-of-factly goes about this revolting task. Spray, spray, wipe. Sigh. The bugs are getting worse, his mom, Contessa, says. Their colony within her five-bedroom apartment is growing to unnerving proportions. At the arrival of dusk, she says, the insidious insects brazenly explore the family's cabinets, furniture and living space, dropping their egg sacs just about everywhere. Contessa says she loses sleep, waking up often to swat that creepy-crawly feeling from her neck. As she speaks, a roach scurries down the face of the stove behind her and climbs into a clean, empty pot sitting on a burner. For this reason, all of their dishes must be scrubbed before they are u...

Update on the latest in business: | Ap

FINANCIAL MARKETS US stocks rising NEW YORK (AP) — U.S. stocks are rising today as retailers including Urban Outfitters and Target climb. That's helping retailers recover some of the sharp losses they took a day earlier. Health care and technology companies are also trading higher. Energy companies are lagging the rest of the market as the price of oil turns lower . At 12:58 p.m. Eastern Time, the S&P 500 index rose 6 points , to 2,471. The Dow Jones industrial average added 63 points , to 22,062. And the Nasdaq composite rose 25 points , to 6,358. At noon Eastern time , the Russell 2000 index of smaller companies jumped 7 points , to 1,390. TRUMP UPDATE Another two CEOs quit presidential council NEW YORK (AP) — Another two company CEOs have quit President Donald Trump 's manufacturing council. 3M CEO Inge Thulin (ING'-geh too-LEEN') announced in a statement today, his resignation from the Manufacturing Jobs Initiative panel , saying sustainability, diversity an...