Latest news with #multifamilyhousing
Associated Press
12-08-2025
- Business
- Associated Press
Solaris Estates Launches Direct-to-Investor Offering, Empowering Investors to Build Stronger Communities Nationwide
08/12/2025, Miami, Florida // PRODIGY: Feature Story // Solaris Estates LLC, a national multifamily housing firm specializing in the revitalization of underserved communities, is proud to announce the launch of its new direct-to-investor capital raise. This offering gives accredited investors the opportunity to participate directly in the company's mission—without traditional intermediaries targeting recurring cash flow from stabilized assets. Just as Solaris transforms underperforming real estate into safe, affordable homes for working families, the company is also transforming how those projects are funded. Its direct investment platform eliminates broker layers and allows accredited investors to access institutional-quality opportunities with increased transparency and alignment. A Mission-Driven Approach to Real Estate With over 4,500 units and a $500M+ portfolio under management, Solaris Estates has a proven track record of converting distressed housing into thriving, resilient neighborhoods. Their vertically integrated operations ensure control over every stage—from acquisition to property management—delivering consistent performance and measurable community impact. Investment With Immediate Purpose This offering enables accredited investors to get involved in institutional-grade real estate typically reserved for large funds. Solaris's structure is designed to deliver cash flow and longterm value while supporting its mission to build safer, stronger communities. About Solaris Estates LLC Solaris Estates LLC is a national multifamily real estate company focused on revitalizing America's underserved communities. Family-run for the last 25 years, Solaris operates with a long-term commitment to integrity, accountability, and community transformation. Through its vertically integrated platform, Solaris acquires, renovates, and manages multifamily housing with a commitment to long-term value and impact. Learn more at Media Contact Lola Iparraguirre Email: [email protected] Phone: 786-673-0461 Website: Disclaimer: Statements in this release that are not historical facts are forward-looking and involve risks and uncertainties that could cause actual results to differ. This release is for informational purposes only and does not constitute investment advice.
Yahoo
07-08-2025
- Business
- Yahoo
Crest Cabinet Company Launches as New In-House Brand from ACC and ECI
Combined Strengths of Two Industry Leaders Deliver Fully Integrated Multifamily Cabinetry Solutions WINSTON-SALEM, N.C., August 07, 2025--(BUSINESS WIRE)--Alexander's Cabinets & Countertops (ACC) and Eastern Cabinet Installers (ECI) today announced the official launch of Crest Cabinet Company, a new in-house brand delivering high-quality import cabinetry solutions tailored to the multifamily housing market across the Southeastern United States. With nearly 40 years of combined industry experience, ACC and ECI bring together their trusted expertise in cabinet supply and professional installation to form a fully integrated solution under the Crest name. The new brand offers end-to-end support—from design and sales to delivery and installation—streamlining the entire cabinetry lifecycle for developers and contractors. "We created Crest to do more than deliver cabinets," said Crystal L. Cramer, Founder & President. "We're here to serve—with honesty, quality, and care that reflect what we believe and how we do business." ACC and ECI have long been recognized for delivering standout customer service, a legacy that now continues with the launch of Crest. By bringing in production under one roof, Crest Cabinet Company will offer unmatched consistency, efficiency, and support from concept to completion, positioning the brand as the go-to partner for cabinetry solutions in the multifamily construction industry. To learn more, explore project highlights, or stay up to date on future developments, visit About Crest Cabinet Company, Inc. Crest Cabinet Company, joining sister companies ACC and ECI, serves multifamily developers and contractors throughout the Southeastern U.S. by delivering high-quality import cabinetry with precision, transparency, and efficiency. Backed by decades of industry experience, Crest stands apart through its end-to-end control of the cabinet process—ensuring consistency, accountability, and superior service at every stage. About Alexander's Cabinets & Countertops, Inc. Founded in 1987, Alexander's Cabinets & Countertops (ACC) is a trusted dealer specializing in high-volume cabinetry solutions for multifamily developments. Known for responsive service and deep product knowledge, ACC partners with developers and contractors to deliver tailored cabinet packages that meet tight timelines without compromising quality. About Eastern Cabinet Installers, Inc. Established in 2007 as a sister company to ACC, Eastern Cabinet Installers (ECI) is a leading installation subcontractor known for its precision, reliability, and speed in multifamily cabinet installations. ECI partners closely with general contractors and developers across the Southeast to ensure each project is completed on schedule and to the highest standards of workmanship. View source version on Contacts Media Contact: Garrett HaywoodGeneral Managerghaywood@ (336) 689-0112 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
07-08-2025
- Business
- Associated Press
Crest Cabinet Company Launches as New In-House Brand from ACC and ECI
WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Aug 7, 2025-- Alexander's Cabinets & Countertops (ACC) and Eastern Cabinet Installers (ECI) today announced the official launch of Crest Cabinet Company, a new in-house brand delivering high-quality import cabinetry solutions tailored to the multifamily housing market across the Southeastern United States. With nearly 40 years of combined industry experience, ACC and ECI bring together their trusted expertise in cabinet supply and professional installation to form a fully integrated solution under the Crest name. The new brand offers end-to-end support—from design and sales to delivery and installation—streamlining the entire cabinetry lifecycle for developers and contractors. 'We created Crest to do more than deliver cabinets,' said Crystal L. Cramer, Founder & President. 'We're here to serve—with honesty, quality, and care that reflect what we believe and how we do business.' ACC and ECI have long been recognized for delivering standout customer service, a legacy that now continues with the launch of Crest. By bringing in production under one roof, Crest Cabinet Company will offer unmatched consistency, efficiency, and support from concept to completion, positioning the brand as the go-to partner for cabinetry solutions in the multifamily construction industry. To learn more, explore project highlights, or stay up to date on future developments, visit About Crest Cabinet Company, Inc. Crest Cabinet Company, joining sister companies ACC and ECI, serves multifamily developers and contractors throughout the Southeastern U.S. by delivering high-quality import cabinetry with precision, transparency, and efficiency. Backed by decades of industry experience, Crest stands apart through its end-to-end control of the cabinet process—ensuring consistency, accountability, and superior service at every stage. About Alexander's Cabinets & Countertops, Inc. Founded in 1987, Alexander's Cabinets & Countertops (ACC) is a trusted dealer specializing in high-volume cabinetry solutions for multifamily developments. Known for responsive service and deep product knowledge, ACC partners with developers and contractors to deliver tailored cabinet packages that meet tight timelines without compromising quality. About Eastern Cabinet Installers, Inc. Established in 2007 as a sister company to ACC, Eastern Cabinet Installers (ECI) is a leading installation subcontractor known for its precision, reliability, and speed in multifamily cabinet installations. ECI partners closely with general contractors and developers across the Southeast to ensure each project is completed on schedule and to the highest standards of workmanship. View source version on CONTACT: Media Contact: Garrett Haywood General Manager [email protected] (336) 689-0112 KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA INDUSTRY KEYWORD: ARCHITECTURE CONSTRUCTION & PROPERTY OTHER MANUFACTURING SPECIALTY OTHER CONSTRUCTION & PROPERTY INTERIOR DESIGN MANUFACTURING RETAIL SOURCE: Crest Cabinet Company Copyright Business Wire 2025. PUB: 08/07/2025 12:29 PM/DISC: 08/07/2025 12:29 PM
Forbes
01-08-2025
- Business
- Forbes
Property Taxes And Housing: A Real Obstacle To Affrodability
It is axiomatic that costs incurred in the financing, construction, and operation of multifamily housing get passed on to consumers in the form of higher rents. This can be a source of debate, however, when proposals like rent control are proposed. It's not worth rehearsing those arguments here. There simply isn't any other way to offset costs except for rental income. One of those costs is property taxes. Eliminating or reducing those costs as an incentive has proven to be a successful strategy to create more market rate and affordable housing. It is worth looking at this approach in general, and then at some specific programs in subsequent posts to understand better how they work. How Does Property Tax Work? Property taxes in the United States have been around since before the Revolution and fall into two categories, real property taxes and taxes on tangible, personal property. We're concerned with the first variety, land and buildings versus tangible property, things like equipment or vehicles, for example. From here on, when we refer to 'property taxes,' we'll mean real property taxes. Typically, property taxes are assessed ad valorem, a Latin term meaning toward value, or based on the value of the property. There are three ways to assess value. Sales evaluation or appraised value, based on replacement cost, or based on the income a property generates. In the first value is determined by a property's market value through appraisal. How much would a property fetch if it was put up for sale. The cost method assesses how much it would cost to replace the property if it were lost or if there was nothing on the property. This can track with market value or be very different. And the income method looks at the revenue generated by the use and function of the property, including retail sales or rents. It is important to note that in some jurisdictions, like Washington state, assessors look at the value of all the property in a taxing district and then apply rates back onto individual properties based on their value. This method of taxing property is sometimes called a 'budget based' taxing system, because a taxing district determines how much tax they want to raise, then value of the district is assessed, then the tax is applied to properties based on each $1,000 worth of value. This means that an individual property pays a portion of the tax based on value rather than based on the value of the property itself. This brings us to something called mill rate or millage. The mill rate, articulated by Investopedia, is 'the amount of tax payable per dollar of the assessed value of a property. It is a figure that represents the amount per $1,000 of the assessed value of the property, which is used to calculate the amount of property tax.' Usually, the mill rate is expressed as 'per $1,000 of value' to more easily understand how much a property owner will have to pay. A tax of $1.86 per $1,000 of value would be $186 on a property with an assessed value of $100,000. Finally, there are other factors like the timing of property taxes that have a significant impact on cost. Often, jurisdictions will assess value on a particular date. Taxes also are regulated by an array of constitutional and statutory limitations on how value is calculated, when it is calculated and applied for tax purposes, rates, categories of taxation, and rates of increases over time. For example, a jurisdiction could assess a property's value on January 1 of each year and increase it if there are any improvements when any are made while another jurisdiction will not assess improved value until the following January. A jurisdiction might only be able to increase property taxes at a rate of 3% for commercial property and 1% for residential property regardless of the assessed value of specific properties. Government choices about how much revenue they raise using property taxes, the rates they charge property, and limits they set on increases, highly determine the costs of building multifamily housing. These conditions vary widely from state to state, and jurisdiction to jurisdiction. Tax Abatement and Exemption as an Incentive Adding to this thicket of various rules and regulations, there are many exemptions to and reductions of taxes on property. States, for example, usually have some sort of exemption for seniors who pay taxes on their homes. Abatements the rate of tax collected over time for affordable housing while exemptions for affordable housing are usually time limited and conditional lowering or removal of tax obligations on a property. When, as a matter of economics or policy, a jurisdiction takes seriously the idea that property taxes are suppressing new development of housing, they sometimes take measures to remove tax obligations on property to remove those costs as a way to motivate new development. The variables on these kinds of tax abatements and exemptions are usually amount the forgone tax revenue to the jurisdiction, the length of the tax exemption for the property owner, and the performance requirement for the property owner. For example, a jurisdiction could grant an exemption on payment of all property taxes on vacant land for 20 years provided that a developer builds apartments that set aside 20% of the units for people that earn 60% of area median income. We'll take a look at some of these programs and what can be learned about what sorts of abatement programs yield the best results for affordable housing.
Zawya
01-08-2025
- Business
- Zawya
South Africa: Driving smarter property development decisions with geospatial insights
South Africa's property development landscape holds massive potential. With demand for multifamily housing on the rise and evolving market dynamics, developers are under increasing pressure to identify the right locations that will yield high returns. But understanding where to build requires more than just identifying available land. It requires understanding the landscape, the people, and the long-term trends, which is why making informed, data-driven decisions is more critical than ever, says Sophie Hasell, chief revenue officer at AfriGIS. Traditionally, property developers start by evaluating a few fundamental aspects: the land parcel, the cadastre, and the deeds information. These elements provide the basic foundation for a development project. But, in today's complex market, simply knowing who owns the land and what it's zoned for is no longer enough. To truly make informed decisions, developers need to understand the surrounding area in depth, from the median rental prices, to the demand in the area, the transport links, local amenities, and more. Without these insights, development projects can face costly missteps. Building on locations for instance, that look promising at first glance but don't align with market demand, or lacking in essential infrastructure leaving developers with unexpected costs. How trade area analysis impacts property development This is where Trade Area Analysis comes into play. By integrating geospatial science with a variety of data sets, trade area analysis affords property developers with a comprehensive view of any given area. This helps anyone looking to establish a project see the bigger picture not just the land itself, but the broader market context in which you're building. Seeing the full landscape: Predicting market trends Take the Northern Cape as an example-Ten years ago, the region didn't have the same residential development activity it enjoys today. The transformation of the area has been driven by key developments such as the development of a new university and construction of a shopping mall. These developments created a new demand for multifamily housing; demand that property developers are now eager to meet. Identifying this growth potential requires more than surface-level data. Using trade area analysis, developers can assess the area's population density, income levels, and access to key infrastructure like roads and power supply, as well as environmental risks like flooding or dolomite formations. By integrating these insights, developers can better identify areas where investment is likely to yield high returns, and where growth trends point toward continued opportunity. Understanding the target market One of the most important questions in property development is: Who will live in these spaces? Understanding the local community is crucial for ensuring that the right property type is developed. One simple question, for instance: is the area populated by working professionals, students, or families? This determines whether to build luxury apartments, affordable housing, or student accommodation. Trade area analysis provides exactly this sort of valuable data on the lifestyle and demographics of local populations. In the case of our own trade area analysis process at AfriGIS, we use tools like the Neighbourhood Lifestyle Index to help developers understand the income, buying habits, and needs of the people in and around the area. This allows for precision in targeting the right market segment and ensures the development aligns with what people in the area actually need and can afford. Reducing risk and optimising investment Every development project carries risk, but with the right data, developers can mitigate these risks. Using trade area analysis, property developers can assess not only the opportunities but also the potential pitfalls of any project. This includes gaining insight into environmental risks such as flooding, land use restrictions, and even lightning intensity—factors that could affect long-term viability. For example, properties built on dolomite can experience structural issues over time, and understanding these risks early on is critical to avoid future costs. Critically, adopting a proper trade area analysis prior to the launch of a project can help forecast the potential return on investment. By combining insights into market trends, rental yields, and demand patterns, trade area analysis provides a data-driven approach to projecting how much rent a property is likely to generate, making it easier to assess whether a location will offer the financial returns developers expect. The power of real-time, dynamic data What sets the work we do at AfriGIS apart is the real-time, dynamic nature of our data. Traditional property evaluation methods often rely on static, once-off reports that can quickly become outdated. AfriGIS' platform, on the other hand, provides up-to-date information that evolves with the market, helping developers make informed decisions throughout the lifecycle of a project—from initial land acquisition to ongoing operational adjustments. Future-proofing property development with AfriGIS When it comes to how we conduct trade area analysis at AfriGIS, once all the relevant data is integrated, we generate heat maps, thematic maps, and other visualisations that allow property developers to understand the full context of a site. These maps provide insights into demand, residential trends, and the proximity to key points of interest like transport hubs, shopping malls, and schools. They also highlight potential environmental or infrastructural risks, giving developers the confidence to move forward or pivot as needed. Property development is a complex process that involves much more than just picking a location and building. It's about understanding the people, the infrastructure, and the long-term market dynamics that will shape the future of your investment. AfriGIS helps property developers navigate this complexity with a data-driven approach that makes it possible to predict market trends, assess risk, and optimise returns. In the competitive and high risk property development market, relying on outdated data or surface-level analysis is no longer enough. With trade area analysis, AfriGIS helps developers make smarter, more informed decisions, future-proofing their projects and ensuring sustained profitability. By integrating location context, demographic insights, and real-time data, we help property developers see their world differently—and make smarter decisions that drive growth.
