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The Grad San Jose Receives Award

The Silicon Valley Business Journal recognized our student housing project with Swenson in San Jose with an award for best Market-Rate Residential project in Silicon Valley.

“We are thrilled that The Grad San Jose has already won an award for Best Market Rate Residential project several months before it’s even completed,” said Percy Vaz, CEO of AMCAL Equities, LLC. “It validates our vision that this student-focused apartment project near San Jose State University would hit just the right mark. We look forward to The Grad San Jose’s completion and students moving in next summer.”

This is nothing like your parents’ dorm rooms

In addition to addressing the thorny challenge San Jose State students have finding housing in the area, The Grad San Jose will be a far cry from the type of spare, utilitarian buildings many college graduates associate with student dorms — with varying degrees of fondness, of course.

It also serves a new approach to privatized student housing, one that offers shared living spaces, amenities and residential life programming. While the audience for The Grad is college students, the housing will be available to anyone. One caveat — the leases last for 50 weeks, are by the bed and begin at the start of the academic year. Rents include fully furnished suites, utilities, cable, high-speed Internet, and daily programmed activities.

Slated for completion next summer, the $190 million project, which is being built by a joint venture that includes AMCAL and Swenson, will have 260 units totaling 1,039 beds.

Read the rest of the article in the Silicon Valley Business Journal.

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AMTEX’s Gary Newbold Speaks at Connect Texas Multifamily Conference: Focusing on Housing Affordability

The good news for Texas is that the economic climate is strong. The not-so-good news? Housing affordability is as much a challenge in the Lone Star State as it is in other parts of the country, lower cost of living notwithstanding. It is this challenge that brought together the six-person panel on affordability at the recent Connect Texas Multifamily conference. The session, entitled “Affordable Housing: Short Supply + Growing Demand = Opportunity” saw moderator Hugh Cobb, with Alpha Barnes Real Estate Services, asking questions of the public and private housing panelists.

The first question? The aging demographic, and its impact on affordability. Gary Newbold with Amtex Multi-Housing indicated that affordability issues are about the same for senior housing as it is for standard multifamily. He acknowledged, however, that many of the seniors requiring low-income housing have been unable to physically or economically support their household. “They haven’t been able to set enough aside,” he said. “Or they’ve lost a partner or loved one.”

Read more of the article by clicking here.

Pictured (L-R): Hugh Cobb (Alpha Barnes Real Estate Services); Tim Lott (Dallas Housing Authority); Janine Sisak (DMA Companies); Theresa Ebner (LDG Development); Gary Newbold (Amtex Multi-Housing); Debra Guerrero (The NRP Group)

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