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Seattles hot job scene continues to push up apartment rents, although a building boom may soften the market next year, according to two new reports.
Average rent is now $1,338 in King County, up 5.4 percent both from six months ago and 9 percent from a year earlier, Dupre + Scott Apartment Advisors reported Monday.
Tom Cain, of Apartment Insights, reported that rents in King and Snohomish counties rose 2.5 percent in the third quarter and 8.1 percent over the past year.
The rent increases includes many new apartments, which tend to rent for more, Dupre + Scott principal Patty Dupre noted in the report. Take out new apartments, and the region-wide rent increase falls from 4.7 percent to 3.9 percent since March, and from 8.2 percent to 6.3 percent over the past year.
Because of up and down cycles, rents have gone up by an average of just 3.4% a year since 1997, Dupre said. The increases weve seen lately arent unusual when the economy is strong. But they happen less often than investors think, and they barely make up for the downturns.
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Seattle rents rise as apartment construction booms
GLEN ELLYN Wheaton-based developers with a conceptual plan to construct a multi-purpose building at the site of McChesney and Miller received feedback from the Village Board at a workshop meeting Monday.
Next Generation Development LLC, the company planning the project, presented the details to the board. Nothing has yet been finalized.
Proposed is the construction of a six-story building that would occupy the McChesney and Miller property, the Crescent/Glenwood parking lot to the south and a portion of Crescent Boulevard.
If the project moves forward, a full traffic study evaluating the effects of the road closure and resulting traffic distribution would be requested.
A portion of the first floor totaling 3,774 square feet would be set aside for retail space. The rest of the first floor would be used for parking. Floors two through six would be residential, with an expected 180 units, according to Next Generation CEO James Hughes.
Hughes said there would be 24 studio apartments, 110 one-bedroom apartments and 42 two-bedroom apartments. The rent would range from $1,210 to $2,235.
The complex would feature a rooftop pool, lounge, 24-hour fitness center, business center, energy-efficient appliances and security cameras, among other things.
There would be at least two floors of parking: One at ground level and one at basement level. Alternative plans include a second basement level of parking.
Without the second basement parking level, the village would lose 12 public parking spaces to the project. Adding a second level increases the number of spaces to 156.
Glen Ellyn Historic Preservation Commission member Lee Marks warned the developers about constructing something that would clash with the downtown historic district.
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Developer talks 6-story apartment building, $7M in incentives for McChesney and Miller site
The Carleton on Argyle Street in downtown Halifax
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A proposed city by-law up for debate Tuesday afternoon could change the rules for patios in front of bars.
City staff are recommending bars get $5-million in liability insurance up from $2-million for the patios, matching the insurance needed for large city events outdoors. Also changing is the fee structure for patios which will go from a hazy square-footage-based system to an $800 flat rate, and the date when bars can set up patios moving two weeks from April 1 to April 15.
Mike Campbell, owner of the Carleton Music Bar and Grill on Argyle St said city staff are out of touch with the business community in Halifax.
The bureaucracy in the city has no clue does not understand the business conditions that were dealing with, he said. They probably dont even bother to go out.
Campbell said $5-million in liability is far more than necessary, will cost him thousands more in insurance fees every year, and likely up his deductible. The $2-million that every bar has now is more than enough, he said, and the city is just trying to cover itself.
Its just more money coming out of our pockets, and we dont have any as it is, he said.
One part of the by-law does give him some hope though. Campbell said he and other bar owners in Halifax could save money by leaving their patios up year-round.
The new by-law proposes council approve bars to have their patios out all year on a case-by-case basis.
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Proposed patio by-law would up insurance costs for business owners
The city of Branson released the third draft Monday of a proposed smoke-free ordinance. Among the major changes in the draft is that smoking would be allowed on outdoor patios.
Mayor Raeanne Presley had asked for the newest draft to be available to the public before the city's Sept. 23 board of aldermen meeting. The ordinance is not on the agenda for that meeting, but now that the newest draft is available to the public, members of the public will have a chance speak out about it, according to Presley. The plan now is for the ordinance to be voted on during the city's Oct. 14 meeting. It is possible that portions of the ordinance could be amended at that time. If approved, the ordinance would go up for a final vote Oct. 28.
The Branson Board of Aldermen recommended several changes to the smoke-free ordinance during a study session Thursday, Sept. 18.
At the session, Planning & Development Director Joel Hornickel introduced several items for the board to consider, based on feedback from the public.
Among the changes the board decided to make:
Smoking would be allowed on outdoor patios. Several aldermen were interested in simplifying the ordinance as much as possible to allow smoking outdoors, but not indoors. Previously, the ordinance would not have allowed smoking on patios where employees served customers.
Smoking would not be allowed within six feet, rather than 10 feet, of door or window. The aldermen also decided to specify that smoking can be allowed on decks and balconies, where a six-foot distance is not possible, as long as the door is closed.
To allow outdoor smoking at RV parks and campgrounds, but it will continue to not be allowed in common areas, such as swimming pools or a laundry.
Hotels can allow up to 20 percent of rooms to be designated as smoking rooms. The previous draft ordinance would not have allowed any smoking rooms at nightly rental hotels.
The ordnance would now clarify that each violation is a $25 fine. Previously, the ordinance only referred to city code that specified a fine of up to $500, which would have been the highest in the country for smoking.
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Branson releases revised draft of proposed smoke-free ordinance: Smoking to be allowed on outdoor patios
Monday, September 22, 2014, by Lily di Costanzo
From the tomes of Curbed SF comes the sordid tale of this famed mega-manse in Hillsborough, Calif, which "has a long history full of long-standing San Francisco social royalty, botched subdivision plans to cover divorce fees, and dreamy interior design, plus some high-end architectural pedigree to boot." Built in 1916 by the daughter and son-in-law of French Nobleman Count Christian de Guigne, the 16,000-square-foot Guigne Court boasts, among a whole lot of other things, seven bedrooms, a ballroom, a flower-arranging room, a servants' wing with four maids' rooms and two chauffeurs' rooms. After being passed to subsequently richer and richer descendantsincluding an heiress who hired famed midcentury interior decorator Anthony Hail to design the interiors of the estate in the 1960sthe home eventually popped up on the market last February for a cool $100M, with the rather ludicrous stipulation that the owner not be able to move in until the 76-year-old current owner pass on. More on the fall-out of the comically out-of-touch demand, plus a bit more on the many rabble-rousing tenants, below.
More scandalous details, right this way. >>
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Blockbusters: Learn All the Secrets of This 'San Fran Social Royalty' Manse
Chicago, IL (PRWEB) September 23, 2014
LED Lighting Inc., (http://www.ledlightinginc.com) a primary resource for custom illumination solutions, retrofit the broadcast studio of Americas most successful sports network channel. The channel delivers sports-related programming focusing on live and recorded event telecasts, sports news and talk shows, as well as other sports related content.
LED Lighting Inc. recently designed and custom built a lighting solution made to meet specifications for the channels indoor-broadcast studio featuring a high luminosity tape light, TSHL600CCT. New to LED Lighting Inc.s product line, this tape light features an adjustable CCT (color temperature) from 3000K-7000K.
LED lighting is ideal for backlighting studio walls and desks. Our customized products allow for a multitude of effects, said William Hood, LED Lighting Inc. CEO.
LED Lighting Inc. has also customized lighting solutions for outdoor mobile broadcast studios on major televised network channels. The most recent mobile broadcast booth was illuminated with a specialty color-changing T300RGBWW tape light. This tape uses a controller for infinite color combinations, including warm white and dimming options.
About LED Lighting Inc. LED Lighting Inc. continues to relentlessly expand and position itself as one of the only Custom Illumination Solution specialists in the marketplace. As an innovator of LED lighting and technology, LED Lighting Inc. recognizes its uniqueness with providing custom applications and meeting detailed specifications. LED Lighting Inc. products are thoroughly tested and backed with strong warranties.
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LED Lighting Inc. Lights Up Broadcast Studios on Major Sports Network Channels
22nd September, 2014
KUALA LUMPUR: Twenty-four Malaysian architects, artists and multimedia designers are showcasing their best ideas and works at the International Architecture Exhibition-La Biennale in Venice from June 7 until Nov 23, 2014.
Coordinated by the Malaysian Institute of Architects (PAM), the works and ideas are displayed at the pavilion of Malaysia themed Sufficiency, said Malaysia Curatorial Team Leader Dr Tan Loke Mun.
We have a good number of young participants this year and it is wonderful to see new talents wanting to make their mark on the world stage. This is Malaysias third participation at Venice La Biennale and the best so far, he told Bernama in an interview, recently.
He described the theme of the Malaysia pavilion, Sufficiency as thought provoking which is depicted by suspended pet cages, providing a surreal image and narrating a story of sufficiency.
Tan said PAM was tasked with the setting up of a curatorial team for the iconic global architecture and art exhibition and coordinating the Malaysian participants by the Malaysia External Trade Development Corporation (Matrade).
The 24 participants were chosen by PAM through a series of competition. The teamwork and camaraderie between Matrade and the Malaysian architects and designers is fabulous from the planning stage right through the setting up of the pavilion and the opening ceremony, he said.
Citing Matrades support as instrumental to the success of the Malaysia pavilion, he said Matrade Chief Executive Officer Datuk Dr Wong Lai Sum and her officers, including those based in Milan, had provided the necessary support in terms of finance, liaison, installation of the pavilion, logistics, and media coverage.
Tan said as Venice La Biennale is the worlds most prestigious architecture exhibition, some participants regarded it as the culmination of a lifetime of creative work, while for others, it is a gateway to many other opportunities and the international market.
Tan, who was PAM president from 2005 to 2007, said the role played by Matrade was vital as it could leverage at the government level because putting together an exhibition on a big scale abroad was not easy.
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M'sian architects, designers shine at Venice La Biennale
Plans have been in the works for years to redevelop Staten Island's north shore. Now, there are some visible signs of progress at one site, where a residential and retail space is expected to rise. NY1's Amanda Farinacci filed the following report.
At one time it was home to the U.S. Navy, a 36-acre space known as the Staten Island Homeportbut don't call it that anymore.
With plans to open next summer as a retail and residential space, the site has a new vibe and a new name: URL.
"Urban Ready Living. And it's kind of a new paradigm for living in the cities and we're excited to bring it to Staten Island. I think it's going to be new, and fresh, and different," says David Barry of Ironstate Development.
Ironstate Development bought the site back in 2008 with plans to build 900 units of housing and 30,000 square feet of retail space.
The first phase includes some 571 housing units meant to keep 20-somethings on Staten Island by giving them a place to rent that's affordable.
Renting at URL comes with a host of amenities, like an outdoor pool, a community garden and a 4,000 square foot gym and yoga studio.
There's also a cafe in the lobby, called Coffeed.
"We are locally sourced. We have a rooftop farm through the Brooklyn Grange that we use a lot of our produce from. We are very community-based, community-focused, community-centric," says Coffeed's Turtle Raffaele.
That's good news for the entire waterfront, because Raffaele will also serve as the site's social programmer.
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Staten Island Living, Retail Development Taking Shape on North Shore
SANTA BARBARA, Calif. -
The long awaited La Entrada de Santa Barbara hotel and retail project is expected to become a reality in the next two years, but construction permits are still a few days off.
The city says the developer, known as 35 State Street Partners, are cleared to begin. The group involves Los Angeles businessman and developer Michael Rosenfeld who has been to Santa Barbara to usher the project through after several setbacks over the last 20 years involving other owners.
The project will encompass three of the four corners at State St. and Mason St. This is a block up from the watefront and near the popular "funk zone." There will be 123 rooms, over 20,000 square feet of retail space, along with paseos, and 243 parking spaces. The remaining corner will be a boutique hotel that will be developed by the Romasanta family after a widening project for Mission Creek and a new bridge are completed by the city.
The city says the Entrada project has a completion deadline of June 2016.
One key component is the integration of the Californian Hotel, a 1920's era landmark that has been gutted except for the front facade.
All three aspects of the Entrada project will be completed together.
The last large scale project in Santa Barbara that would come close to this in the downtown or waterfront area was the Paseo Nuevo mall in 1990.
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La Entrada de Santa Barbara Hotel-Retail Project Closer but Permit Still a Few Days Off
