World Trade Center Developer Financing Legacy Miami, First COVID-Conscious, Pandemic-Ready Skyscraper

January 17, 2022
Legacy Miami Worldcenter

MIAMI and NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The developer of New York's World Trade Center complex – Silverstein Capital Partners – is now financing construction of the world's first COVID-Conscious designed and Pandemic Ready residential, hotel, and medical center skyscraper at the massive Miami Worldcenter project in downtown Miami.

The 55-story, 671-foot-tall, half-billion-dollar Legacy Residences, Hotel and Medical Tower at Miami Worldcenter is being built by the Miami-based Royal Palm Companies development firm.

The $4-billion, 27-acre Miami Worldcenter is currently America's largest urban core construction project and the nation's second-largest mixed-use real estate development.

RPC says Legacy is being designed with the most-advanced germ-zapping technologies and will be the first all-in-one residential, hospitality and health and well-being facility in the world, according to Royal Palm Companies CEO, Daniel Kodsi.

The August 2021 ground breaking is the first at the Miami Worldcenter since the start of the pandemic and the first in Florida since the Champlain Towers condo-collapse in nearby Surfside, Fla., in June 2021.


NYC’s Silverstein Taps Hot South Florida Market With New Loan

January 10, 2022
Nathan Crooks - Bloomberg

The lending arm of New York-based developer Silverstein Properties is putting $340 million into a luxury hotel and condo project in downtown Miami.

The construction loan for the Legacy Hotel & Residences, a project being built by Royal Palm Cos., comes amid rising demand for new condos and hotel rooms in South Florida.

The 50-floor tower is going up in the heart of the Miami Worldcenter, the second-largest urban development in the U.S. With Covid-related travel restrictions being relaxed, international buyers have returned to the Miami market, according to Dan Kodsi, chief executive officer of Royal Palm.


U.K.’s House Price Boom Driven by ‘Race for Space’, BOE Says

January 3, 2022
Philip Aldrick - Bloomberg

Britain’s house price boom has been driven by the “race for space” as people left city flats during the pandemic, the Bank of England says.

U.K. house prices rose 11.8% in the year to September, one of the fastest rates of growth in the past 20 years. About half of that rise can be explained by people wanting to move to larger homes, the central bank said.


Meritage Homes Releases Inaugural Environmental, Social and Governance Report

December 27, 2021
Meritage Homes Corporation

SCOTTSDALE, Ariz., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE:MTH), the sixth-largest homebuilder in the U.S., today announced the release of its inaugural Environmental, Social and Governance ("ESG") report to increase transparency of its ESG strategy and initiatives as well as related key performance metrics. The 2020 ESG report also highlights the Company's ongoing approach to long-term sustainability practices, diversity, equity and inclusion ("DE&I") efforts and milestones achieved during the year. The company intends to provide annual updates to its ESG reporting.

About Meritage Homes Corporation
Meritage Homes is the sixth-largest public homebuilder in the United States, based on homes closed in 2020. The Company offers a variety of homes that are designed with a focus on entry-level and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee. For more information on Meritage's ESG initiatives and to view the full 2020 ESG report, visit https://investors.meritagehomes.com/environmental-social-and-governance/....


U.S. New-Home Sales Top Forecast With Best Pace Since March

December 20, 2021
Reade Pickert - Bloomberg

Sales of new U.S. homes increased in September to the highest level in six months, underscoring solid underlying demand.

Purchases of new single-family homes increased 14% to an 800,000 annualized pace after a downwardly revised 702,000 rate in August, government data showed Tuesday. The median estimate in a Bloomberg survey of economists called for a 756,000 rate.


Manhattan Luxury Apartment Sales See Biggest Week Since 2013

December 13, 2021
Oshrat Carmiel - Bloomberg

Well-heeled homebuyers with an interest in new condos sent Manhattan luxury sales to their best week in nearly eight years.

The dollar volume of high-end deals reached $483.6 million last week, the highest total for a seven-day period since December 2013, according to a report by Olshan Realty Inc., which measures signed contracts at $4 million and above. Sixteen of the 50 homes that found buyers were listed for at least $10 million, the biggest tally of so-called “trophy properties” since March 2013.


Harkins Welcomes Jayson Williams to Its Board of Directors

December 6, 2021
Harkins Builders

Harkins is proud to announce the newest addition to its board of directors, Jayson Williams. Jayson is the Co-founder and Chief Executive Officer of Mayson-Dixon Companies, a minority-owned family of companies that was founded in 2015 as MD Strategic Consulting, a public affairs firm that utilizes campaign-tactics to tell client stories to achieve their missions. He has since started complimentary businesses such as Mayson-Dixon Properties & Development, Modern Builders, and Modern Suppliers, which combined with MD Strategic Consulting created the first turnkey community development firm that engages in neighborhoods, constructs residential and commercial projects, solves complex supply chain issues, manages properties of various sizes, and thoughtfully brings investment partners into underserved communities.

About Harkins Builders, Inc.
Founded in 1965, Harkins is a 100% employee-owned construction company serving clients engaged in the development of multifamily, commercial, and government projects. The leader in the markets it serves, Harkins credits its success to the shared values that guide its work and relationships with all partners involved. The company offers customized services, such as preconstruction, that go above and beyond what is expected in the industry. Harkins is proud to be part of the communities it serves, with regional offices positioned along the eastern seaboard. The company is headquartered in Columbia, MD, and has additional locations in Wayne, PA and Charlotte, NC.


Meritage Homes Awards Mortgage-Free Home to Navy Petty Officer First Class and His Family in Time for Veterans Day

November 29, 2021
Meritage Homes

SCOTTSDALE, Ariz., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Meritage Homes (NYSE:MTH) and Operation Homefront have partnered to thank a military family for their service by presenting them with a brand new, mortgage-free and energy-efficient Meritage home as part of the Permanent Homes for Veterans program. Prior to Veteran's Day, Navy Petty Officer First Class Garfield Johnson, his wife, Tia, and their two young children received the keys to their 1,840 square-foot, single-story home located in the new Bristol Meadows community in Zephyrhills near Tampa, Florida.

The Permanent Homes for Veterans program has placed more than 700 military families in mortgage-free homes and deeded over $90 million in home equity. This is the fourteenth new home Meritage Homes has constructed and donated to military families.

For more information about Meritage Homes Corporation visit www.meritagehomes.com.  
For more information about Operation Homefront visit www.OperationHomefront.org.  
For more information about Start Strong, Stay Strong visit www.operationhomefront.org/startstrongstaystrong. 


U.S. Homebuilders Ask Congress to Lift Tariffs on Lumber, Metals

November 19, 2021
Marcy Nicholson - Bloomberg

U.S. homebuilders are calling on the Biden administration to temporarily lift tariffs on China and Canada to ease supply-chain bottlenecks that are hurting housing affordability.

“Until a long-term solution can be reached, Congress and the administration should temporarily suspend duties on a wide array of imported building materials and goods, from Canadian softwood lumber to Chinese steel and aluminum,” National Association of Home Builders Chairman Chuck Fowke told lawmakers in comments reposted Wednesday on the group’s website.


Mattamy Homes Recognized as a Best Place to Work in Phoenix

November 15, 2021
PR Newswire

SCOTTSDALE, Ariz., Oct. 20, 2021 /CNW/ - Mattamy Homes is pleased to announce that the company has been named one of Phoenix's Best Places to Work by the Phoenix Business Journal.

Best Places to Work winners are chosen based on an employee-survey process conducted by Quantum Workplace. Once nominated, companies have to meet a threshold in employee participation – a percentage that varies based upon the size of the company – to be eligible to be honored. Companies receive the award because their organization received high marks in areas such as team effectiveness, trust with co-workers, manager effectiveness and work engagement.

Honorees including Mattamy Homes will be featured in the Phoenix Business Journal's December 16 Best Places to Work special edition, as well as online.

About Mattamy Homes
Mattamy Homes is the largest privately owned homebuilder in North America, with 40-plus years of history across the United States and Canada. Every year, Mattamy helps more than 8,000 families realize their dream of home ownership. In the United States, the company is represented in 11 markets – Dallas, Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its US head office is located), Tampa, Sarasota, Naples and Southeast Florida – and in Canada, its communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. Visit www.mattamyhomes.com for more information.


Housing Market Can Look Forward to a More Boring 2022

November 8, 2021
Conor Sen - Bloomberg

After a year of soaring home prices and problems getting essential materials such as lumber, buyers and builders took a moment earlier this year to catch their breath and reassess the state of the housing market.

That gave us a few months of declines in new home sales and building permits, rising inventories of existing homes, and an end to historically high prices in lumber.


U.S. Homebuilder Sentiment Rises for First Time in Five Months

November 1, 2021
Jill R. Shah - Bloomberg

U.S. homebuilder sentiment rose in September amid lower lumber prices and strong housing demand.

A gauge of builder sentiment ticked higher for the first time in five months to 76 from an August reading of 75, National Association of Home Builders/Wells Fargo data showed Monday. The median forecast in a Bloomberg survey of economists called for a slight decrease to 74.


U.S. Housing Starts Rose by More Than Forecast in August

October 24, 2021
Olivia Rockeman - Bloomberg

U.S. housing starts rose by more than expected in August, driven by multifamily projects, though backlogs continued to weigh on construction.

Residential starts rose 3.9% last month to a 1.62 million annualized rate after an upwardly revised July print, according to government data released Tuesday. The median estimate in a Bloomberg survey called for a 1.55 million pace.


3M Homeowner Survey Shows Strong Interest in Eco-friendly Construction Materials and Practices

October 18, 2021
PR Newswire

ST. PAUL, Minn., Oct. 6, 2021 /PRNewswire/ -- From reducing air pollution to using renewable energy as a power source, U.S. homeowners have an overwhelming desire for more information, more choices, and more action across the industry for eco-friendly construction materials and practices, according to the 2021 3M Home Renovation Study.

The majority of homeowners surveyed – 74% – agree that using eco-friendly construction materials would make a strong impact to the environment, and 70% plan to purchase eco-friendly materials for their next renovation.

For more information on how 3M science can drive change for more sustainable home construction solutions, visit 3M smog-fighter. To read more about the Home Renovation Study, visit https://3m.com/homereno.


Omnis Report Demonstrates Residential Construction Boom

October 11, 2021
Beverley BevenFlorez – CDJ Staff

Despite “unprecedented labor and construction shortages,” home construction has risen across the country, data from a report by Omnis shows.

Omnis “analyzed the data from 368 permit-issuing municipalities across the country, to understand new construction trends at both the national and local levels.” They focused their attention “on two periods: the number of permits issued in the first six months of 2020 and the number of permits issued in the first six months of 2021.”

Across the nation, the numbers demonstrated an “undeniable boom in new residential construction.” For instance, “over the past two years, permits issued increased 36 percent nationally, for all sized residential projects. For single-family homes, the increase was 30 percent. For large buildings containing five or more units, the increase was 21 percent. Also during this period, the average value of a newly constructed single-family home increased seven percent.”


California’s Smart Plan to Let Homeowners Be Homebuilders

October 4, 2021
Virginia Postrel - Bloomberg

California just gave single-family homeowners more control over their property and, for those in high-demand cities, the potential for a big financial windfall. Eight time zones away in the U.K., the Conservative government is revising its planning bill in ways that could give homeowners a similar boon.

The details and contexts differ, but both approaches recognize a political reality. The way to relieve housing shortages is to build more homes, and it’s easier to legalize construction if existing homeowners realize benefits.


New Orlando Training Center to Open Doors for Careers in Construction

September 29, 2021
PR Newswire

ORLANDO, Fla., Sept. 23, 2021 /PRNewswire/ -- The Home Builders Institute (HBI) today announced the official opening of its new Orlando-based facility for training people for jobs in construction. The BuildStrong Academy of Orlando will train and place area students who want to pursue careers in the skilled trades for the building industry. Funded by The Home Depot Foundation, along with other private, public, and nonprofit sector partners, the program will be free to trainees.

Officials expect the training center to serve approximately 500 new trainees by year-end 2022. The BuildStrong Academy of Orlando's training program guides participants through a step-by-step process designed to take them from beginners, with little-to-no trade skills, to tradespeople who are sought after by employers. Instructors will use HBI's industry-recognized curriculum, which is one of only three pre-­apprenticeship programs recognized by the U.S. Department of Labor.

For more information on the BuildStrong Academy of Orlando, and how to enroll, visit OrlandoAcademy.hbi.org or email: Orlando.Academy@hbi.org


Angry Evergrande Homebuyers Protest Against Construction Halt

September 20, 2021
Bloomberg News

Disgruntled China Evergrande Group customers staged a protest in Guangzhou demanding that the cash-strapped developer restart stalled construction work and urging the local government to intervene.

More than 100 homebuyers in white T-shirts emblazoned with the phrase “Resume construction, Evergrande” lined up before the housing bureau of the city’s Nansha district on Thursday, according to people who attended the protest and asked not to be named because of fear of retribution. They said building of units they purchased in Evergrande Peninsula, a project of almost 5,000 apartments, has been halted since May.


Home Prices in Three U.S. Cities Have Jumped 25% or More in a Year

September 13, 2021
Claire Ballentine & Alice Kantor - Bloomberg

Homes in some of the largest U.S. cities just keep getting more expensive.

In Phoenix alone, an index that measures home prices climbed a whopping 29.3% in June from the previous year, as more people move to the city. The measure in San Diego rose 27.1%, while Seattle increased 25%. The index in nine cities jumped 20% or more.


Sam Zell Partners With Toll on $1.9 Billion Apartment Deal

September 6, 2021
Craig Giammona - Bloomberg

Sam Zell’s Equity Residential and the luxury homebuilder Toll Brothers Inc. have formed a partnership to develop apartments, looking to deploy $1.9 billion to take advantage of the surging demand for rentals.

The two companies will invest about $750 million in equity, plus additional debt, over the next three years to develop projects in Boston, Seattle, Atlanta Austin, Denver, Dallas-Fort Worth and the San Diego area, according to a statement on Tuesday.


Las Vegas Train Bonds Will Go To California Housing

August 30, 2021
Romy Varghese - Bloomberg

California reallocated $200 million of tax-exempt private activity bonds formerly reserved for Fortress Investment Group’s Las Vegas tourist train to be used instead by affordable housing projects.

In January, the state’s Debt Limit Allocation Committee set aside that portion of California’s limited financing resource in anticipation that the firm’s Brightline Holdings would request it later in the year. Instead, the venture said in June it will seek an undisclosed amount of debt next year. The committee’s three-member board on Wednesday unanimously approved moving the bonds to housing.


Apartment Construction Booms as Remote Work Changes Loom

August 23, 2021
Construction Executive

According to RentCafé®, more than one-third of U.S. cities are upgrading apartment spaces (increasing in most cases by approximately 50 square feet), allowing for new trends following the COVID-19 pandemic, including home offices.

In fact, 36% of cities surveyed are building larger apartments, with 51% graduating to house two bedrooms. Of those expanding, Everett, Washington, is the leader, with the most apartments in construction. Urban areas are also on the list, with Charlotte, North Carolina, and Chicago making the top 20 as well. The largest apartments are being built in Everett (1,195 average square feet); Scottsdale, Arizona (1,139 average square feet) and Athens, Georgia (1,132 average square feet).

Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.


U.K. Homebuilding Drives Construction Growth to 24-Year High

August 16, 2021
Reed Landberg - Bloomberg

Britain’s construction industry expanded at the fastest pace in 24 years, driven by a surge in homebuilding that’s starting to push up inflation.

IHS Markit said its key index of purchasing managers jumped to 66.3 in June. Economists had forecast a modest slowdown. The strength of demand strained the ability of supply chains to keep up and fueled the biggest increase in purchasing costs since the survey began in 1997.


Northern Virginia's Premier Home Builder Unveils Sustainable Modular Homes

August 10, 2021
Van Metre Homes

Sustainability has recently become a major factor that homebuyers consider. Joseph Wheeler, professor of architecture at Virginia Tech School of Architecture and Design, explains that "[Modular construction gives] the builder control of a hundred percent of the job" especially since 95% of the modular home's pieces are created in Van Metre's Winchester, VA factory. Not only is this more efficient than traditional home building, but it also prevents waste as it allows Van Metre builders to order materials down to the exact dimension in bulk.

About Van Metre Homes
Van Metre Homes has been Virginia's premier home builder for nearly seven decades. Van Metre properties can be found in several cities across Loudoun, Fairfax, Fauquier, Frederick, and Prince William counties. Not only has Van Metre continued to innovate and build state of the art homes, but their years dedicated to service, quality and philanthropic work have been recognized by the community and resulted in over 70 awards.



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