More millennials buying homes without parents’ help

first-time-home-buyersYounger homeowners are increasingly buying first homes, without the Bank of Mom and Dad.

Sometimes they go it alone out of a desire for independence; sometimes it’s a reflection of their parents’ financial realities. Whatever the reason, area real estate agents say the trend speaks well of millennial homebuyers.

According to the National Association of Realtors, millennials were the largest generation of homebuyers in 2015 at 35 percent, and 67 percent of them were first-timers. The association’s 2016 “Profile of Home Buyers and Sellers” report notes that the second-most popular way for first-time buyers to finance their down payment was a gift from a relative or friend, at 24 percent – a drop from 27 percent in 2015. (Savings was the preferred choice among 76 percent of respondents.)

Full story at NorthJersey.com >>>

The 3 Most Important Decorating Elements

how-create-cozy-homeThe way Shannon Smith transforms a bare apartment into a cozy home might cause you to confuse her for a magician, or an interior design fairy godmother at the very least.  The Homepolish interior designer can do wonders to a space no matter how tight the budget or small the square footage.

The secret to creating a stunning home, she says, is to focus on three things when decorating. “I am a firm believer that you don’t need a lot of stuff to make your space feel finished. If you consider these three things — texture, color, and scale — you can make any space feel cozy.” – via PopSugar

Castle Lanterra Properties Buys Bayonne Apartment Property for $147.5M

Castle Lanterra Properties has purchased Alexan CityView, a 544-unit apartment community in Bayonne, N.J., and will rename the property Harbor Pointe.

Castle Lanterra Properties has purchased Alexan CityView, a 544-unit apartment community in Bayonne, N.J., and will rename the property Harbor Pointe.

via REBusinessOnline – Castle Lanterra Properties (CLP) has purchased Alexan CityView, a 544-unit apartment community situated on 7.4 acres along the waterfront in Bayonne for $147.5 million from a joint venture between an investment fund and a large property manager. Jones Lang LaSalle arranged the transaction.

The new owner will rename the property Harbor Pointe and plans property upgrades, including updates to the clubhouse and an expansion of the gym.

The LEED Silver-certified property, which was built in 2010, features a 9,000-square-foot clubhouse, fitness studio, indoor basketball half-court, children’s playroom, a resort-style saltwater pool, and a seven-story parking garage. It was at 91 percent occupancy at the time of sale.

Former Texaco site in Bayonne Slated for Development

Kaplan Companies plans to build more than 1,200 residential units, recreational facilities and other amenities on this long-dormant 71-acre former Texaco site in the southwest section of Bayonne. Photo: Reena Rose Sibayan | The Jersey Journal

Kaplan Companies plans to build more than 1,200 residential units, recreational facilities and other amenities on this long-dormant 71-acre former Texaco site in the southwest section of Bayonne. Photo: Reena Rose Sibayan | The Jersey Journal

A redevelopment project that has been in the making for nine years is finally beginning to take shape in Bayonne.

Kaplan Companies plans to build more than 1,200 residential units, recreational facilities and other amenities on the long-dormant former Texaco site in the southwest section of Bayonne.

The price tag for the Promenade at Bayonne, which received city Planning Board approval in May, is estimated at roughly $500 million.

Bayonne City Council members are expected to introduce a redevelopment plan for the 71-acre site — which has been vacant since Texaco halted its storage and refinery operations there in the late 1980s — at tomorrow’s City Council meeting.

Kaplan was designated as the developer for the site in 2006, and company president Jason Kaplan has said in the past the project could take 10 to 12 years to complete.

The ground at the former site of the Texaco Chevron plant is currently being raised 6 to 10 feet to begin construction, according to Rob Wondolowski, director of Bayonne’s Municipal Services.

The current development plan calls for the 71 acres to be broken up into three parcels and the construction to be completed over a number of phases.

During phase one, two housing complexes would be built with a total of 300 units, Wondolowski said. The plan calls for ballparks and a public park to be built as well.

While an industrial pier was initially planned for the area, a recreational pier is likely to be built in its place. A ferry is also in the plan, but it has not been decided where the landing would be placed.

The ground is expected to be completely raised by spring and construction will likely begin by next summer, Wondolowski said.

Renderings of the proposal and be seen on the website of the architect for the project, Minno and Wasko.

FULL STORY AT NJ.COM