{ Full Article Here } A Cleveland, Ohio-based investment company bought two Hoover apartment complexes  totalling 696 units for a combined $75 million. Crowne Falls and Crowne at Galleria Woods, near Hoover’s Embassy Suites and Riverchase Galleria, have been sold to Zaremba Management Company. The seller was Birmingham’s Vista Communities Venture, LLC, who bought the properties in 2011. Bo Flurry and …

{ Full Article Here } A focus by builders on high-end apartments helps explain why rents are soaring across the country Developer Mark Randall cut his teeth over the last few decades building apartments for Atlanta’s middle-class with properties such as Alta Ridgewalk, a complex of low-rise buildings clustered around a swimming pool in suburban Atlanta. That development stands in …

{ Full Article Here } WASHINGTON, DC—April housing starts rose 20.2% nationwide from an upwardly revised March tally, according to Census Bureau data released Tuesday. New construction in the multifamily sector outshone single-family starts, with apartment builds up 27.2% from the previous month to a seasonally adjusted annual rate of 402,000 units, compared to a 16.7% increase for single-family. The …

{ Full Article Here } Volkswagen’s announced expansion of its Chattanooga plant last July was among the top 10 business deals of 2014, according to Site Selection magazine. In its annual Best to Invest rankings, the business publication rated the $600 million expansion of the Chattanooga VW plant No. 10 among the biggest business deals announced during 2014. Volkswagen plans …

{ full article here } A German company that handles and manages the auto parts used in Volkswagen’s Chattanooga assembly plant plans to hire 300 more employees by the end of next year. Schnellecke Logistics USA, the company’s American subsidiary which already employs about 350 workers in the city, is ramping up for the sport utility vehicle VW plans to …

One of Birmingham’s most iconic buildings will be part of a $45 million project that will bring two Marriott hotels and a gourmet restaurant downtown. The Empire Building at 1928 1st Ave. will become Empire Hotel, a luxury hotel with a restaurant, 117 bedrooms, a gym, lounge, meeting space and rooftop bar. The adjoining former Alagasco headquarters building will become a …

The Huntsville area led the state in new job creation in 2014. According to AL.com, there nearly 3,500 new jobs and $300 million in capital investments alone. Remington Arms was the biggest announcement, with 2,000 positions, while Science and Engineering Services (450),Verizon (300) and West Corp. (300) were among the other major announcements. The area has already started 2015 off …

{ Full Article Here } As apartment rents continue to trend higher, real estate economists are worried income growth isn’t keeping up. After all, an increase in rent means residents are forced to allocate a higher percentage of their income to housing if their paychecks don’t also increase proportionately. Investors, especially in Class B and C assets, are worried that …

{ Full Article Here } The Chattanooga Choo Choo Hotel will get its tax break. The Chattanooga Health, Education and Housing Facilities Board has just approved the much-discussed property tax freeze for the historic hotel, as it seeks to convert 97 rooms into 350-square-foot studio apartments to be rented below market rate. Under the tax agreement, the Choo Choo’s property taxes on …

{ full article here } Koch Foods plans to remain a major part of the Gadsden economy, following an announcement that it will expand its current facility and bring new jobs to the area. The company in October said it would add 80 jobs, and on Tuesday revealed it will add 70 more in addition to the previously announced expansion, …