Time to Act!
If you haven’t returned your MFE Top 50 survey yet, do it today! Surveys can be downloaded by clicking here, or contact Rachel Azoff (razoff@hanleywood.com; 202-736-3494) for an electronic version of the form. The annual lists of the 50 largest multifamily owners, managers, and builders will be published in the May 2006 issue.
TRIA Extended
The Senate and House of Representatives approved a compromise bill that will extend terrorism risk insurance until Dec. 31, 2007. The bill limits taxpayers’ potential liability by increasing the amount insurers would have to pay and the amount of loss that triggers a federal payment from $5 million to $50 million in 2006 and $100 million in 2007.
–Les Shaver
Corporate Decision
AMLI Residential has decided to dissolve AMLI Corporate Homes, its short-term furnished housing subsidiary, and handle these apartments and services instead through a partnership with BridgeStreet Worldwide, which handles such housing in the U.S. and abroad. AMLI, which has approximately 29,000 units in its overall portfolio, typically rents 4,600 units throughout its communities each year for short-term, furnished corporate use, according to Peggy Butterworth, executive vice president at Chicago-based AMLI.
–Rachel Z. Azoff
Tech Deal
Multifamily software provider DOMIN-8 has acquired American Computer Software of Madison, Wis. (Terms of the deal were not disclosed.) DOMIN-8 says it plans to support ACS’ Management Plus property management software as well as creating a Web-based version of the program.
–Rachel Z. Azoff
Fewer Miles Traveled
Transit-based housing may be taking hold in Atlanta. At the very least, people aren’t driving as far to work. As citizens of a city with one of the nation’s worst commutes, Atlanta’s residents now drive fewer miles daily, according to a report from the Georgia Regional Transportation Authority. In 1998, licensed drivers traveled 47.2 miles per day in the Atlanta area. In 2003, they traveled 38.3 miles per day.
–Les Shaver
Virtual Lessons
It’s easy being green–especially with the U.S. Green Building Council’s first Web-based training course designed to help builders (multifamily and single-family) become LEED-accredited professionals. The three-hour course, developed in partnership with Turner Construction, includes selected case studies, interactive learning exercises, and a practice exam.
–Rachel Z. Azoff