Sunday, July 24, 2016

Housing Starts Rise 4.8 Percent in June

Nationwide housing starts rose 4.8 percent in June to a seasonally adjusted annual rate of 1.19 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Overall permit issuance increased 1.5 percent to a seasonally adjusted annual rate of 1.15 million.

"This month's uptick in production is an indicator that the housing market continues to move forward," said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. "At the same time, builders are adding inventory at a cautious pace as they face lot shortages and regulatory hurdles."

"The June report is consistent with our forecast for a gradual but consistent recovery of the housing market," said NAHB Chief Economist Robert Dietz. "Single-family production should continue to strengthen throughout the year, buoyed by job growth, new household formations and low mortgage interest rates." 

Single-family housing starts rose 4.4 percent to a seasonally adjusted annual rate of 778,000 units in June while multifamily production ticked up 5.4 percent to 411,000 units.

Regionally in June, combined single- and multifamily starts increased in the Northeast and West, with respective gains of 46.3 percent and 17.4 percent. The Midwest registered a 5.2 percent loss and the South fell 3.4 percent. However, single-family production rose in all four regions. 

Both sectors posted permit gains. Single-family permits edged up 1 percent to a rate of 738,000 while multifamily permits rose 2.5 percent to 415,000.

Permit issuance increased 9.4 percent in the Northeast and 8.3 percent in the South. Meanwhile, the Midwest and West registered respective losses of 2.8 percent and 10.1 percent.

Thursday, July 21, 2016

Crossman & Company Continues Growth with Launch of Private Client Investment Sales Division

ORLANDO, Fla. (July 21, 2016) -- Crossman & Company, the Southeast’s premier real estate services firm focused on serving retail landlords, continues to expand its operations and sales force by announcing the launch of the company’s Private Client Investment Sales Division.

“Crossman & Company has done an excellent job servicing our institutional level clients as they execute their disposition strategies. The Private Client Investment Sales Division will provide the same exemplary service to high net worth investors and retail owners throughout the Southeast US,” explained John Crossman CCIM, CRX, the firm’s president

Dan Colachicco
The firm is undertaking an aggressive hiring plan to expand its investment sales force, focusing on experienced agents within a track record of success in markets throughout the Southeast.

“In order to navigate the complexities of today’s commercial investment real estate environment, private client investors and owners need strong brokers more than ever. Our extensive transactional expertise over the past 25 years combined with our breadth of service in the Southeast positions our firm to increase our dominance in the retail real estate markets that we serve,” added Crossman.

The announcement comes on the heels Crossman & Company opening their newest office in Miami, Fla.

“We are actively seeking aggressive, entrepreneurial individuals of high integrity to join our team as we expand this platform for our non-institutional clientele,” said Dan Colachicco, Senior Managing Director of Brokerage Services, who will be spearheading the growth of the division. “Joining this new division at Crossman & Company provides skilled agents with an excellent level of support, a stellar brand that they can be proud to associate with, and virtually unlimited earning potential.

The firm expects to hire multiple agents in the seven states they currently cover during 2016. A particular focus will be on hiring experienced agents for the company’s Miami and Palm Beach County offices.

“In addition to our brand recognition, new agents will be provided with all of the tools needed to operate efficiently, as well as a centralized batch of resources to support their professional growth,” Colachicco said.

Serving Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia, Crossman & Company just opened a Miami office and now has 25,678,368 square feet under leasing and management comprising of 347 properties.

For more information, contact Dan A. Colachicco at dcolachicco@crossmanco.com, visit www.crossmanco.com, or call (407) 423-5400.

About Crossman & Company

Crossman & Company is the premier real estate firm focused on serving retail landlords exclusively throughout the Southeast – with offices in Atlanta, Boca Raton, Tampa, Miami and Orlando – representing more than 340 shopping centers and over 25 million square feet in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina and Virginia. The company was founded in 1990 with the goal of providing exemplary service to our clients around four core values: Maintain enthusiastically satisfied clients; Demonstrate servant leadership; Practice kindness, openness and humility; and Develop new talent. For more information, visit the company’s website at www.crossmanco.com.

Remodeling Market Index Holds Steady in Second Quarter

WASHINGTON, July 21 - The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) posted a reading of 53 in the second quarter of 2016. Although it slipped one point from the previous quarter, it is still the 13th consecutive quarter with a reading above 50.

An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.

"Overall, remodelers are reporting steady work in the second quarter," said 2016 NAHB Remodelers Chair Tim Shigley, CAPS, CGP, GMB, GMR, a remodeler from Wichita, Kan. "With an increase in calls for bids, we should see the market pick up slightly moving forward."

The RMI's current market conditions index came in at 54, decreasing by a single point from the previous quarter. Among its components, major additions and alterations dipped three points to 52, minor additions and alterations fell one point to 53 and maintenance and repair remained unchanged at 56.

At 53, the RMI's future market conditions index remained unchanged from the previous quarter. Among its four components, calls for bids increased two points to 53, the amount of work committed rose one point to 53 and appointments for proposals stayed even at 52. Meanwhile, the backlog of remodeling jobs decreased five points to 53.

"At slightly above 50, the overall RMI is in line with our forecast of steady growth in the remodeling market for 2016," said NAHB Chief Economist Robert Dietz. "Current economic conditions and a rising need to improve the nation's aging housing stock in the face of changing demographics are supporting growth for the remodeling sector."

For data tables on the RMI, visit www.nahb.org/rmi. For more information about remodeling, visit www.nahb.org/remodel.

Tuesday, July 5, 2016

Florida Green Building Coalition Announces First Scholarship Winner

ASHANTAE GREEN
TALLAHASSEE, Fla. – The Florida Green Building Coalition (FGBC), the leading certifier of green construction projects and a cornerstone of sustainability efforts in Florida, has announced that Ashantae Green is the recipient of the inaugural FGBC Scholarship for post-secondary education.

Green is a student at Florida State College at Jacksonville. In addition to her own studies, Green has mentored local high school students through the Architecture, Construction & Engineering (ACE) Mentoring program for seven years. 

She is the founder of Sickle Cell & Sustainability, a community group created to raise awareness and sponsor events on the topics of Sickle Cell disease and living a healthy, sustainable lifestyle. The group was formed to honor her 2-year-old son who has Sickle Cell disease.

Green will be recognized during the annual GreenTrends Conference Oct. 20-21, 2016 in Hollywood, Fla. She also will receive a complimentary one-year FGBC membership allowing her to take part in all FGBC activities, including serving on committees, participating in the leadership elections, and contributing to the certification standards development process.

FGBC launched the statewide scholarship program for students pursuing careers in green building or related sustainability disciplines. Scholarships can be renewed for up to four years. The next call for applications will open in March 2017 for the 2017-2018 academic year.

For more information visit www.floridagreenbuilding.org.

About the Florida Green Building Coalition
The Florida Green Building Coalition is the leading certifier of green projects in Florida. To date it has over 12,800 residential, over 22 million s.f. of commercial and high-rise space, 60 land developments, and 81 local governments participating in its certification programs. FGBC certification programs are the only standards developed with climate specific criteria to address issues caused by Florida’s hot-humid environment and natural disasters. The Florida Green Building Coalition (FGBC) is a nonprofit 501(C)3 Florida corporation founded in 2000 dedicated to improving the built environment. Its mission is "to lead and promote sustainability with environmental, economic, and social benefits through regional education and certification programs." For more information about the FGBC “Florida Green” certification programs visit www.floridagreenbuilding.org.

Wednesday, June 1, 2016

Builders Call for End to Regulatory Overreach During National Homeownership Month

WASHINGTON
ED BRADY
-- As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, builders continue to demand affordable housing for all Americans, calling for sensible reforms to burdensome regulations that increase the cost of housing.


"The aggressive over-regulation of the housing industry is putting the American Dream of safe and affordable housing at risk," said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.  

In May, NAHB released a study, Government Regulation in the Price of a New Home, which showed that on average, government regulations account for 24.3% of the final price of a new single-family home. In fact, the regulatory costs for an average single-family home went from $65,224 in 2011 to $84,671 in 2016 - a 29.8% increase in five years.

"Regulators at all levels of government - local, state and federal - must understand that their actions have real consequences," said NAHB Chief Executive Officer Jerry Howard. "The cost of regulation in the price of a new home is rising more than twice as fast as the average American's ability to pay for it. That is simply not sustainable." 

NAHB has been fighting back against costly regulations that fail to meet their intended goals, including the Department of Labor's new overtime rule that was implemented without considering its impact on small businesses, consumers, workers and the economy. 

The 100% increase to the salary threshold for overtime eligibility will hit the home building industry particularly hard and harm housing affordability. It will reduce job-advancement opportunities and the hours of full-time construction supervisors, leading to construction delays, increased costs and less affordable housing options for consumers.

"Common sense reforms to the regulatory approval process would open the doors of homeownership to more Americans across the country," Brady said.

During National Homeownership Month in June, and throughout the year, NAHB and its 700 state and local affiliates work hard to make affordable housing a reality and a priority to our nation's leadership. 

"Homeownership remains a core American value to consumers across the country," Brady said. "In addition to building stronger communities, homeownership provides a solid foundation for family and personal achievement. It is critical that we keep this dream within reach, and not price out buyers with needless overregulation."

Thursday, May 26, 2016

Crossman & Company to Lease Posner Commons

Crossman & Company, one of the Southeast’s largest retail leasing, property management and investment sales firms, has added Posner Commons, a 630,000 square foot regional shopping center in Davenport, Fla. to its impressive leasing portfolio. 

In addition, Crossman & Company will manage a portion of the center totaling 434,710 square feet. 

“I am very proud that we will be representing this tremendous property. It’s a great opportunity to showcase our team’s knowledge, experience and the ability to deliver positive results for our clients,” said Crossman & Company President John Crossman, CCIM, CRX.

The Crossman & Company team of John Zielinski, Chief Operating Officer; Dan Colachicco, Senior Managing Director, Brokerage Services; Marc Cook, Director, Client Services and Katherine Rush-Heath, Senior Leasing Associate, worked closely with support staff to sign the 80-acre power center.

Posner Commons was developed by the Trammell Crow Company and opened in 2008. It is centrally located at the intersection of Interstate 4 and US Highway 27 in growing Polk County.

Serving Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia, Crossman & Company now has 25,678,368 square feet under leasing and management comprising of 347 properties.

"Location plays a pivotal role as we move forward, as do outstanding demographics and high visibility,” noted Zielinski, CCIM. “We look forward to maximizing the performance of Posner Commons.”

Spaces range from 1,400 square feet. Current anchor tenants among the 60 stores include Target, Best Buy, Books-A-Million, Cinepolis IMAX, JC Penney and Staples.

For more information, visit www.crossmanco.com or call (407) 423-5400.

About Crossman & Company
Crossman & Company is the premier real estate firm focused on serving retail landlords exclusively throughout the Southeast – with offices in Atlanta, Boca Raton, Tampa, Miami and Orlando – representing more than 340 shopping centers and over 25 million square feet in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina and Virginia. The company was founded in 1990 with the goal of providing exemplary service to our clients around four core values: Maintain enthusiastically satisfied clients; Demonstrate servant leadership; Practice kindness, openness and humility; and Develop new talent. For more information, visit the company’s website at www.crossmanco.com.

Apartment and Condominium Market Remains Steady in the First Quarter

 The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB) remained essentially unchanged in the first quarter of 2016 after rising one point to 53. This is the 17th consecutive reading of 50 or above.

The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

The MPI provides a composite measure of three key elements of the multifamily housing market: construction of low-rent units, market-rate rental units and "for-sale" units, or condominiums. The component measuring low-rent units increased four points to 54 in the first quarter, while market-rate rental units and for-sale units both dropped one point to 58 and 48, respectively.

The Multifamily Vacancy Index (MVI), which measures the multifamily housing industry's perception of vacancies, remained essentially unchanged with a decrease of one point to 39, with higher numbers indicating more vacancies. After peaking at 70 in the second quarter of 2009, the MVI improved consistently through 2010 and has been fairly stable since 2011.

"Multifamily developers remain cautiously optimistic about the market," said Andrew Chaban, CEO of Princeton Properties in Lowell, Mass., and chairman of NAHB's Multifamily Council. "Market conditions remain favorable and demand is still strong, so we expect to remain in positive territory."  

"This quarter's Multifamily Production Index reflects construction at high levels as the market finds a balance between supply and demand," said NAHB Chief Economist Robert Dietz. "A consistent reading of over 50 only bolsters the view that multifamily housing starts have recovered to a healthy rate and will remain relatively stable through 2016." 

Historically, the MPI and MVI have performed well as leading indicators of U.S. Census figures for multifamily starts and vacancy rates, providing information on likely movement in the Census figures one to three quarters in advance.

For data tables on the MPI and MVI, visit www.nahb.org/mms.

Monday, May 23, 2016

Surfing at RECon 2106: The Next Big Wave in Retail?

The out-of-ocean surfing revolution has begun, thanks to American Wave Machines with authentic indoor and outdoor surfing experiences. 

With a proven pay-for-surf model that pairs well with retail, including apparel, sporting goods and dining, surf parks are poised for development around the world, attracting a wide audience from kids to adults, including amateurs on boogie boards to top professional surfers.

According to recent Associated Press reports, retail executives confirm the growing trend toward entertainment attractions. "Shopping centers and the physical retail experience is becoming much more experiential," said Tom McGee, president and CEO of the International Council of Shopping Centers. "People want to have experiences when they go out. They want that kind of all-in aspect. They want the aesthetics and the look to be something that is engaging and appealing to them."

“In today’s economy where consumers are valuing a premium experience over material goods, surfing provides an exhilarating and unique experience that attracts consumers for an extended stay” said American Wave Machines Founder and President Bruce McFarland. “American Wave Machines is the leader in the out-of-ocean surf revolution, with successful installations in a variety of formats including standalone surf parks, retail facilities, resorts and more.”

The revolution began in 2013 when the first indoor surf park in the United States made its debut. Surf’s Up New Hampshire in Nashua, is powered by American Wave Machines’ SurfStream® technology and features the world’s largest standing wave system in the world with a 32-foot channel. Since its opening, beginners and experienced surfers have been thrilled with the wave technology that can produce two to six-foot waves, including barreling waves, 365 days a year, no matter what Mother Nature has in store for New England.

The following year, American Wave Machines’ SurfStream technology was introduced in a retail shopping center at Oasis Surf. Located within the Quartier DIX30 mall, the SurfStream at Oasis Surf has been a huge success, with Canada’s first indoor surfing attraction drawing crowds with an exhilarating surfing experience and increased dwell time. The 10,000 square-foot venue makes Canadians feel like they are part of the California surfing scene with a beach themed restaurant, bar and retail shop. With the success of Oasis Surf, plans are in the works for new locations in Canada.

“At Oasis Surf, our customers experience real surfing on American Wave Machines’ SurfStream technology,” said Claude Coudry, president and founder, Oasis Surf. “By offering consumers an opportunity for a highly sought after activity like surfing, retail facilities can draw people in and provide an exhilarating experience. Good food and drink, an amazing atmosphere and phenomenal surfing keep people coming back.”

American Wave Machines has invented and manufactured two products, SurfStream®, a tennis-court sized pool that generates natural feeling standing waves and PerfectSwell®, the first and only air-pressure system to recreate naturally occurring ocean swells. PerfectSwell is equivalent to a football-sized pool and allows surfers to paddle out and surf.

The Ultimate in Experiential Retail
Surfing as an anchor attraction not only serves as a daily entertainment destination, but also doubles as a premier event venue, hosting everything from private parties and team building outings to sanctioned competitions. With waves suitable for experienced surfers and professionals, American Wave Machines’ technology has enabled the first indoor surfing competitions in both the United States and Canada, as well as the first indoor wake surfing competition. These events generate buzz as well as increased foot traffic.

“Surfing is the world’s most aspirational sport, and American Wave Machines’ technology has eliminated the barriers to try surfing 365 days a year, no matter how far they are from the ocean,” McFarland continued. “Our waves have proven to attract customers on a daily basis, with special events that bring surfers from around the world and spectators who spend a day watching real surfing.”

“From indoor to outdoor, small scale or large scale, we have the right technology for an authentic out-of-ocean surfing experience, providing surfable waves on demand, no matter the location,” McFarland concluded. “In 2016, the sky’s the limit to where we can bring surfing around the world.”

Sunday, May 22, 2016

First Coast Apartment Association Honors Members with Circle of Excellence Awards

JACKSONVILLE, Fla. – The First Coast Apartment Association (FCAA) presented their 21st Annual Circle of Excellence Awards on Thursday, May 12, 2016 at the historic Florida Theater in Downtown Jacksonville.

The association recognized the outstanding accomplishments of its members in dozens of categories during the awards gala. 

The FCAA serves the apartment industry in Duval, Clay, St. Johns, Flagler, and Nassau Counties and highlighted the highest level of service and commitment to the multifamily industry.

Prestigious Circle of Excellence trophies, from Best Groundskeeper to Leasing Specialist to Property Management Company, were awarded to individuals and companies who embody the strength of the area’s apartment industry.

Visit www.fcaaonline.com online or call (904) 292-1345 for more information

FIRST COAST APARTMENT ASSOCIATION 
2015 CIRCLE OF EXCELLENCE WINNERS

Conventional Leasing Rookie of the Year: Candice Gainey. Lakeside Apartments
Maintenance Rookie of the Year: Sergey Kirillov, Hunter’s Ridge Apartments
Affordable Leasing Rookie of the Year: Desiray Walton, Leigh Meadows Apartments
Leasing Specialist of the Year: Phaedra Walls, St. Augustine at the Lake Apartments
Conventional Assistant Manager of the Year: Sean Stalvey, The Park at Potenza Apartments
Affordable Assistant Manager of the Year: Carmin Munoz, Leigh Meadows Apartments
Conventional Community Manager of the Year: Michelle Murphy, St. Augustine at the Lake Apartments
Affordable Community Manager of the Year: Pamela Floyd. Leigh Meadows Apartments
Groundskeeper of the Year: Jose Garcia, Gregory Cove Apartments
Conventional Maintenance Tech of the Year: Elijah Albilali, Peppertree Lane
Affordable Maintenance Tech of the Year: Robert Seiler, Leigh Meadows
Conventional Maintenance Supervisor of the Year: Mustafa Martin, The Plaza Apartments
Affordable Maintenance Supervisor of the Year: Stanley McKinney, Leigh Meadows
Regional Maintenance Director of the Year: Ethan Pompey, Horizon Realty Management
Corporate Employee of the Year: Cortnie Schultz. WRH Realty Services Inc.
Regional Property Manager of the Year: Brooks Amster, Avesta Homes
Affordable Community of the Year: Thomas Chase Apartments
Conventional Community of the Year: The Carling
 Luxury Community of the Year: Spyglass Rental Community
Best Rehab/Renovation of the Year: The Grove at Deerwood
Best New Construction of the Year: Sorrel Luxury Apartments
Service Team of the Year: Hacienda Club Apartments
Associate Company of the Year: Maintenance Supply Headquarters
Associate of the Year: Eileen Walker
Best Use of Social Media: Galleria & Cabana Club Apartments
Best Market Concept: Galleria & Cabana Club Apartments
Affordable Curb Appeal: Thomas Chase Apartments
Conventional Curb Appeal: Village Walk Apartments
Volunteer Spirit: WRH Realty Services, Inc.
Property Management Company of the Year: WRH Realty Services, Inc