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Industry Knowledge Corner: Average Length of Apartment Searches

Friday, March 31, 2017

 

An average renter searches for an apartment between two weeks to three months (14 to 90 days) before they move.

Most search one to two months before they move. -See graph below


Renters want to make informed decisions and will make the time to do so. Remember, they are looking at your property plus your competition.

-info & stats from Online Search Behavior and Trends of Apartment Renters | A Joint Study by Apartments.com and Google

 


The Morris Family , Carpenter’s Glen

Friday, March 17, 2017

 


Courtney Morris was in a Fall River homeless shelter wondering if she would ever find a permanent, affordable home where she could live with her mother and two daughters.

Carl Nagy-Koechlin, the Executive Director of Housing Solutions for Southeastern Massachusetts, who along with HallKeen Management worked to place Courtney and her family in an affordable three-bedroom apartment at Carpenter’s Glen in Taunton, MA, a 32-unit affordable housing community that recently underwent a major renovation.

Courtney Morris signed the lease and is now no longer homeless. She is extremely grateful and happy to have a place to call home.

Read the rest of the article here: http://bit.ly/2lIy87a

 

 


Market rate apartments take shape at Commonwealth Landing

Friday, March 03, 2017

By Kevin P. O'Connor
Herald News Staff Reporter

FALL RIVER — The Fall River of the future shares a lot of pieces with Fall River of the past.

Lots of brick and granite, busy mills, a distinct turn toward the water.

But in the city of the future, those pieces have been rearranged a bit, according to developer Anthony Cordeiro.

The first completed model apartment at the Commonwealth Landing is a case in point.

The office is open, leasing has started, seven of the 103 apartments have been claimed in the renovation of Commonwealth Landing, 1082 Davol St., that was a mill complex until Quaker Fabric left town in 2007.

Jerry Remy's Sports Bar, Clique Lounge, Brian Fox studio as well as offices, classrooms, a salon and an exercise facility fill the lower floors.

The top three floors will be one, two and three bedroom market rate apartments.

These are not your grandfather's apartments.

In the model unit, an 8-foot door opens into an 805 square foot one-bedroom apartment. You see an exposed brick wall immediately and the tall arched windows that show views of the Taunton River.

There are blond pine floors, granite counters in the kitchen and bathroom, high end washers and driers, elevators, fitness rooms and community rooms dedicated to tenants.

The ceilings are open to the original oak and pine ceilings, 12-feet high, that were installed for the fabric mill.

Outside the apartment, drywall hangers and electricians were busy. The hallways were filled with the rattle and thump of construction. Inside, that sound disappeared.

"We spent an extra three quarters of a million dollars to make sure each unit was insulated properly so you can't hear your neighbors when you get home from work," Cordeiro said.

"During every tour I've given, construction was going on," said Margaret Farrell, the leasing manager. "When you get into the apartment, you just don't hear it."

Farrell began signing leases a week ago for apartments that will be available starting on Aug. 1.

"We have seven approved leases right now," she said. "I'll have 10 percent of the apartments leased by the end of February."

Cordeiro purchased the property in 2010 with his partners, Larry Couto and Alan Macomber. That team oversaw the renovation of the site. The apartments will complete it.

At the start of the project the three developers said the complex would anchor the city's waterfront and give the city an idea of what its future can be.

That is still true, Cordeiro said.

"Our whole dream was to see if Fall River can attract the clientele, the millennials and empty nesters, to come here to live and play," Cordeiro said.

"This has finally happened. It took a long time, but we never faltered."