Energy Efficient and Mighty Sturdy
The "Count on Concrete" home featured at the recent International Builders' Show is an affordable, energy-efficient dwelling built for Habitat for Humanity Las Vegas. The 1,237-square-foot structure includes three bedrooms, two bathrooms, fiber-cement siding and roof tiles and precast walls using insulating concrete forms. Boston University management professor Pieter VanderWerf says the dense concrete walls, which keep the home cool in the summer and warm in the winter, save home owners on average $221 annually in heating costs and $89 on cooling bills. Habitat's Las Vegas executive director, Susan Mackert, says the money low-income families save on energy can be used for medical, educational and other expenses. The U.S. Department of Housing and Urban Development has found that low-income families set aside as much as 30% of their incomes for utilities, while middle-income home owners spend between 10% and 15%. In addition to the energy savings, concrete homes have better soundproofing; can hold up for as many as four hours in a fire; and are not damaged by the high winds and debris associated with tornadoes. These safeguards allow home owners to save on insurance costs, making the dwellings even more affordable. (www.philly.com)
Philadelphia Inquirer (03/30/03) P. J1; Heavens, Alan J.
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A Village Concept With Commuters in Mind
Valencia is a planned community in Santa Clarita, CA, designed by urban planner Victor Gruen in the 1960s as a village with schools, churches, recreation, shopping, businesses and homes all within walking distance. The town is comprised of 26 tract subdivisions, and commuters have easy access to buses and Metrolink stations. Residents enjoy outdoor activities in the Santa Susanna, San Gabriel and Sierra Pelona mountains, 18 community parks and Castaic Lake, as well as shopping, dining and entertainment at the Valencia Mall, River Oaks Shopping Center, Town Center and the Promenade. The median single-family home price in Valencia skyrocketed from $231,000 in 1990 to $324,000 in 2002. This month, 136 new and existing condominiums, townhouses and single-family homes were up for sale, ranging in price from $132,000 for a one-bedroom condo to as much as $1.5 million for a single-family home. (www.latimes.com)
Los Angeles Times (03/30/03) P. K4; Tagashira, Gail S.
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Plots & Ploys: Artful Dodge?
In an effort to wear down resistance to its affordable housing developments in Florida, Miami-based Pinnacle Housing Group recently began hiring artists to create sculptures, murals and other art displays to complement its projects. Because artwork more commonly is incorporated into market-rate complexes, partner Mitchell Friedman hopes that including it in Pinnacle's low-income installations will not only remove the stigma of affordable housing but also "enhance" the property value of its developments and the surrounding community. Moreover, Friedman maintains, having artwork instills a sense of pride in residents, who subsequently will "self-police" the property to protect it. Artwork or not, affordable housing continues to be a hard sell for developers. Pinnacle's latest proposal, for a 102-unit low-income development in Opa-locka, prompted representatives from neighborhood groups to protest the project at a public hearing. (www.wsj.com)
Wall Street Journal (04/02/03) P. B6; Muto, Sheila
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Rural-Friendly Design Drawing Praise for Parrish Development
The nine-phase Twin Rivers subdivision, which will feature 550 homes when completed, will allow home owners in Parrish, FL, to live a rural lifestyle. The development will be comprised of 1,800 acres of pasture, farm and wetlands; and its lots of three-fourths of an acre or more will facilitate wildlife movement and outdoor activities. Says Parrish Civic Association Vice President Ed McAdam, "The message needs to be received by developers that when they build, rather than putting in the tiny cookie-cutter lots, they ought to integrate rural designs." The association gave its support to the development after securing a number of concessions, including a horse trail and natural vegetation buffers. The first phase of construction could begin as early as July, with all nine phases of land clearing, home building and infrastructure developments taking as many as 18 years. Home builders participating in the project include Arthur Rutenburg Homes, Eslinger Homes, Petz Custom Homes and Suncoast Builders. (www.bradenton.com)
Bradenton Herald (04/03/03) P. 1; Westbrook, Jesse
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New Homes, New Flexibility With Floor Plans
Instead of extending design options only to buyers on the high end, today's home builders are incorporating design flexibility into properties in all price categories. "Buyers can customize more than ever before in all price ranges, and, within the confines of their budgets, make some dramatic changes to their homes," confirms Debbie Rosenstein of Rosenstein Research Associates. This level of personalization is made increasingly possible as home builders offer flexible spaces such as upper-level landings and bonus rooms that families can adapt to their individual preference: a home office, play area, guest quarters or even media room. Other optional additions include sunrooms and morning rooms off the kitchen that can serve as extra entertainment or living space. A private master bath and second full bath has become the standard even in the most modestly priced new single-family homes; but, now, a third full bathroom is becoming popular as well. For the luxury crowd, builders are adding flair to the main level by offering informal powder rooms near the kitchen or computer area — not to be mistaken with formal powder rooms located near the foyer and reserved for guest use — and also putting master suites on the first floor. In addition, they are creating unique room shapes that result in dramatic floor plans; offering greater flexibility and choice for finishing lower levels; and working more outdoor spaces, such as porches and rooftop terraces, into their designs. (www.washtimes.com)
Washington Times (03/28/03) P. F1; Lerner, Michele
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Slow-Growth Forces Oppose Nevada Initiative Changes
The Nevada Association of Realtors, the Southern Nevada Home Builders Association and the Northern Nevada Home Builders Association are among the supporters of a bill by Sen. Mark Amodei (R-Carson City) that would require cities and counties to hold public meetings regarding slow-growth initiatives. Critics say the proposed legislation goes against the state constitution by hindering the initiative process, but Carole Thompson of the Douglas County Building Industry Association insists it would create “sensible” guidelines. (www.ap.org)
Associated Press (04/02/03) Riley, Brendan
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State Mulls School Funding
A proposal by Florida Sen. Debbie Wasserman Schultz (D-Pembroke Pines) to impose impact fees on both new and existing homes as a way of funding school construction and maintenance is finally getting some attention. The Florida Association of Home Builders, along with most school districts, supports the change because 70% of students live in existing homes and because new-home impact fees will decline as developable land is used up. However, the Florida Association of Realtors opposes the legislation because it would price many first-time buyers out of the market. FAR lobbyist Gene Adams adds that it unfairly forces all home buyers to pay for new growth. Though the exact costs are still uncertain, Wasserman Schultz says the tax will add hundreds of dollars to the cost of a home. The measure seems to already have won the support of Senate President Jim King, who said, “If you're going to do any kind of revenue enhancement or tax, then it should be something that's broad-based. This one meets the test. It imposes a statewide impact fee on property and it does it for educational impact only.” (www.miami.com)
Miami Herald (03/31/03) P. B1; Bolstad, Erika
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The New Investors
For the last five years, the apartment property investment market has been solid, with demand exceeding the supply of properties for sale. Sperry Van Ness reports that there were almost 3,400 sales transactions completed in the sector from January to October last year, compared to nearly 3,200 such deals over the same period in 2001. New to the market in recent months are stock and bond market investors, who typically include high net-worth individuals. In most cases, such investors are searching for financial opportunities that will provide a stable cash flow both now and in the future when they retire. Many are focused on acquiring value-added properties, then making capital improvements to improve both their returns and each asset's salability. For the most part, investors are attracted by the apartment industry's great run of solid performance over the past decade. That is why it comes as no surprise that stock brokers from such big-name firms as Goldman Sachs and Merrill Lynch continue to lead the way for multifamily property investments via their repeated recommendations to clients to invest in real estate. (www.multifamilyexecutive.com)
Multifamily Executive (03/03) Vol. 8, No. 3, P. 74; Wallace, Kitty
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PDAs Slowly Making Their Way Into Construction Industry
Toll Brothers' Arizona division is the first home builder to provide its construction managers with personal digital assistants (PDAs) to replace the paper files used to monitor projects. With a PDA, builders can track construction pace, subcontractor work and other tasks; check and send e-mail; perform simple word processing and other software programs; access subcontractor contact information; and notify subcontractors about the start date of a project. Toll Brothers project manager Brian Fowler says the hands-on nature of construction has made the industry reluctant to adopt new technology; but seven-year Toll Bros. employee Angelo Pestrivas insists the PDA makes his job easier, allowing him to make and print changes and connect to a computer to fax schedules to subcontractors. (www.abgnews.com)
Arizona Business Gazette Online (03/27/03) Fimea, Mike
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How You Can Save and Make Money
U.K. broadband providers are running advertising campaigns to get companies to ask more about broadband technology — specifically, how it can save a company money and make money. Broadband's 'always-on' connections can prove far less expensive than dial-up services, and its speed can help the efficiency of those who use it. Broadband can also help build closer relationships with staff, customers and suppliers, and can allow employees to work from home or at remote workstations. However, there are also potential problems, since not all of the United Kingdom has broadband connections, and upload speeds on broadband are only 256 kilobits per second. Chemical distributor Chance & Hunt says that broadband has reduced administration and improved productivity by providing more control and management of internal IT requirements and by letting the company use telemetry for customer inventory. Stuart Design & Marketing managing director Nic Stuart says that broadband means 24-hour working and a faster project turnaround and the quick downloading and e-mailing of big files. (www.the-times.co.uk)
London Times (03/27/03) P. 4; Dawe, Tony
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