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"The number of apartment properties falling into financial trouble is far outstripping the number of distressed communities resolved through sale or otherwise, according to a June report from real estate research firm Real Capital Analytics. Outstanding apartment distress is up $8.1 billion year-to-date and totaled $16.8 billion at the end of May, according to the report. Another $750 million of apartment properties had gone into default or foreclosure through mid-June, the report added."
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"Initially conceived as a way for Freddie Mac to compete in the CMBS market, Freddie’s Capital Markets Execution (CME) program has become the first source of CMBS based on aggregated multifamily housing loans in over a year. The program allows Freddie Mac to continue to provide liquidity to the multifamily housing industry without adding new loans to its balance sheet, says Patti Saylor, Vice President, Offerings and Customer Management for Freddie Mac."
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"Womble Carlyle Ecology Innovations LLC will work with clients to create or preserve wetlands and other environmentally protected areas. That ecologically sound property can be turned into a credit and sold to developers whose plans will destroy other wetlands."
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Why meetings stink.
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Another Shatner as Palin classic.
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Digitized versions of the Sanborn Fire Insurance Maps of cities in North Carolina pre-1922. Very descriptive and detailed maps of downtown areas. So far four cities have been scanned in: Charlotte, Greensboro, Kinston and Wilmington. Hopefully Winston-Salem will be soon.
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The man behind PingWi-Fi is in Winston-Salem for a while and he's posted twice about our fair city. First he wrote about the local Hells Angels funeral and most recently he wrote about the scene on Trade Street. I think we might be growing on him.
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Ed points out that Triad Watch and Fec "have declared jihad against real estate developers on the city council and county commission" and asks "How much rollback is enough, and is it possible to go too far in the opposite direction?"
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JLT
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Yesterday Was a Fun Work Day
I have to say that yesterday was one of the best work days I've ever had. Why? Well, because Dale Holder, the chair of TAA's food drive, and I got to drop off about $14,100 dollars at Second Harvest and then we got a tour of their operation (The money that we raised through the food drive was helped greatly by an anonymous $10,000 donation). And here's the reason I was so excited to drop off the donation: given Second Harvest's buying power every $1 donated equals about 12 cans of food, so the money we dropped off will buy about 170,000 cans of food. If you include the food and financial donations that were sent directly to Second Harvest before our grand finale on Tuesday then we were able to get them about 207,000 cans of food.
Our tour was given courtesy of Marcia Cole, Second Harvest's Director of Development and Community Relations, and it drove home the fact that Second Harvest is still in serious need of assistance. Take a look at the picture I took with my phone and you'll see a rather large room that is still way too empty.
The problem for Second Harvest is that even though donations are up this year, the need for help is up even more. Add to that the fact that North Carolina's budget problems have delayed the normal state contributions and you have what Clyde Fitzgerald, Second Harvest's Executive Director, calls "a perfect storm." Want to help? Here's a couple of ways:
- Help with the Harvesting of the Community Garden at the Children's Home for Second Harvest
- If you live near Buena Vista thenEsbee has a way you can help.
