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Multifamily Builder and Developer Confidence Edged Down Slightly in Second Quarter

In this recent press release from the National Association of Home Builders (NAHB) builder confidence dropped slightly in the second quarter. Due to a variety of causes such as neighborhood opposition and regulatory burdens - projects are struggling to get started however demand remains high. Continue reading below the full article.

Multifamily Builder and Developer Confidence Edged Down Slightly in Second Quarter

Confidence in the multifamily housing market edged down in the second quarter of 2018, according to the Multifamily Production Index (MPI) released today by the National Association of Home Builders (NAHB). The MPI dipped two points to 51 compared to the previous quarter.

The MPI measures builder and developer sentiment about current conditions in the apartment and condo market on a scale of 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

The MPI is a weighted average of three key elements of the multifamily housing market: construction of low-rent units—apartments that are supported by low-income tax credits or other government subsidy programs; market-rate rental units—apartments that are built to be rented at the price the market will hold; and for-sale units—condominiums. The component measuring low-rent units rose three points to 57, while the component measuring market rate rental units fell six points to 50 and the component measuring for-sale units dropped three points to 46.

The Multifamily Vacancy Index (MVI), which measures the multifamily housing industry's perception of vacancies, rose three points to 45. The MVI is a weighted average of current occupancy indexes for class A, B, and C multifamily units, and can vary from 0 to 100, where any number over 50 indicates more property managers report more vacant apartments. Although the MPI increased in the second quarter, a reading of 45 is still seen as a healthy number for the multifamily market.

“Multifamily builders and developers are seeing strong demand, but there are headwinds that have impacted further development,” said Steve Lawson, president of The Lawson Companies in Virginia Beach, Va., and chairman of NAHB’s Multifamily Council. “Some developers have had difficulty getting projects off the ground due to regulatory burdens and neighborhood opposition in certain parts of the country.”

“Although the MPI is down two points in the second quarter, it is still above 50, reflecting a solid number of multifamily starts so far this year,” said NAHB Chief Economist Robert Dietz. “In addition to regulatory costs, developers still need to monitor the impact of tariffs and the threat of further trade restrictions on building materials prices, especially lumber.”

Historically, the MPI and MVI have performed well as leading indicators of U.S. Census figures for multifamily starts and vacancy rates, providing information on likely movement in the Census figures one to three quarters in advance.

For data tables on the MPI and MVI, visit www.nahb.org/mms.

For more information on the NAHB Multifamily program, please visit NAHB Multifamily: https://www.nahb.org/en/members/committees-and-councils/councils/multifamily-council/nahb-multifamily.aspx.

3 Story Townhouse Floor Plans for Sale in Nashville

3 Story Townhouse Floor Plans for Sale in Nashville

If you're a homebuilder in Nashville and looking for smart and styleish floor plans to build from you'll want to visit our library of floor plans. We offer prebuilt floor plans for sale for $1500 each. Most floor plans for sale have mirror images available as well.

This month's featured floor plan is a stunning 3 story townhouse floor plan, it features 3 bedrooms, 3 baths and a roof deck.

The first floor of this townhouse floor plan for sale in Nashville includes the 2 car garage and second bedroom and full bath. This bedroom makes a great choice for older children, the in-laws or out of town guests. It offers privacy yet provides a large space to relax and unwind. 

The second floor of this townhouse floor plan is where the living area is located. The open floor plan is ideal for those who enjoy entertaining. The kitchen is open to the dining area and great room so you'll never miss the party when you tend to the meal or cocktails. There are two balconies on the second level - one off the dining area and the other off the living room. 

The kitchen features a large work island that provides a lovely place to eat an informal breakfast or grab a quick lunch. It also provides a large workspace for food prep or working on homework.

The dining area is bright and airy with easy access to the open balcony. The powder room is easily accessed and near the stairway.

Up on the third floor of this townhouse floor plan you'll find the master suite and 3rd bedroom. The master suite is spacious with abundant natural light. The master bath features a walk-in shower and separate soaking tub. The walk-in closet in this townhouse provides all the space you'll need to store all your clothes, shoes, boots and coats. 

The third bedroom has a private bath and large walk-in closet. This is a good choice for a nursery or makes a great choice if live-in help becomes necessary. It provides easy access to the master suite but also provides privacy. Laundry is located on the third floor.

Go up one more level and you'll find yourself on the roof deck of this lovely townhouse floor plan. Host a star gazing party on those clear Nashville nights in this lovely townhouse.

This townhome plan has 2381 square ft. of living space. This townhouse plan design has a width of 28'-4" and a depth of 34'-8". For more information on this townhome plan and floor plans please call 713 522 2724 or E-mail us.

click here for more information on Anderson Canyon.
Preston Wood and Associates is a member of the "American Institute of Building Design." The "AIBD" is a national organization with chapters in every major U.S. city including Houston, Atlanta, Albuquerque, Austin, Dallas, Raleigh-Durham and Washington, DC.

Events in Nashville, TN this August

Events in Nashville, TN this August

There are so many great things to do this month in Nashville, it’s hard to choose just one or two. If you’re looking for family friendly events in Nashville, TN be sure to check out the list below for ideas. From Shakespeare in the Park to the Tomato Art Festival, there’s something for everyone to enjoy this month in Nashville.

Events in Nashville, TN this August

l’Eté du Vin | Vintners’ Tasting

When: August 2nd, 2018

Where: Hillwood Country Club

6201 Hickory Valley Road

Nashville, TN

A seated tasting of wines from Zelma Long, Vitalie Taittinger, Shannon Staglin, Pam Starr, Marimar Torres, Lindy Novak and Jenne Lee Bonaccorsi.

Featured Wines
Champagne Taittinger: Prestige Rosé NV & Comtes de Champagne Blanc de Blanc 2006
Spottswoode: Sauvignon Blanc 2017 & Estate Cabernet Sauvignon 2014
Marimar Estate: Acero Chardonnay 2016 & Mas Cavalls Pinot Noir 2014
Staglin Family Vineyard: Cabernet Sauvignon 2014
Crocker & Starr: Sauvignon Blanc Blend Bridesmaid 2017 & RLC Estate Cabernet Sauvignon 2014
Bonaccorsi: Sebastiano Pinot Noir 2012

Shakespeare Allowed! Henry VI, Part II

When: August 4th, 2018

Where: Nashville Public Library

615 Church Street

Nashville, TN

Join us as we read Henry VI, Part II

We meet at 11:50am. Whoever wants to read out loud can choose to sit at the table. There will be additional seating available for anyone who wants to read along silently. (Although we might ask you to pipe in for crowd scenes!)  The reading starts at 12:00 pm. We will take a 15 minute break in the middle of each play. During the break, anyone outside of the circle who would like a turn to read out loud may pull up a chair. Some copies of the play will be available, but please bring your own if possible.

Nashville’s First Saturday Art Crawl

When: August 4th, 2018

Where: Various galleries around Nashville

Nashville, TN

Step inside Music City's art world with First Saturday Art Crawl. The first Saturday of every month, from 6pm to 9pm, art galleries around Nashville offer free admission to view their latest exhibits. Over 20 art venues participate, presenting local and world-renowned artists and artwork, offering the opportunity to meet and discuss art with like-minded individuals. Every genre of art can be seen bringing a truly amazing artistic experience. The Downtown First Saturday Art Crawl spans across all of downtown, allowing you too see everything at 5th Avenue of the Arts5th Avenue South, and in The Historic Arcade. Feel free to browse below to see what each gallery offers, and what they might feature on the next First Saturday Art Crawl. Arts & Music at Wedgewood/Houston is a new addition to this celebration of arts, welcoming guests into the WeHo neighborhood for a night of art and music.

Tomato Art Fest

When: August 10thand 11th, 2018

Where: Historic East Nashville’s Five Points

Nashville, TN

Tomato Art Fest returns August 10th and 11th, 2018 for the 15th year! Located in Historic East Nashville’s Five Points, this free, costume-encouraged event provides a wildly entertaining, fun-filled day for all types and all-ages. A community builder, Tomato Art Fest has steadily drawn larger crowds with each passing year. In 2017, an estimated 60,000 came to celebrate this beloved fruit / vegetable and enjoy the day’s memorable festivities. 

The essence of Tomato Art Fest can really be found in the array of wacky & hilarious contests, and the Push, Pull & Wear Parade kicking off tomato weekend, full of floats and costumes. TURBO Nashville, part of the Nashville Civic Design Center 's Reclaiming Public Space initiative, is back this year with their incredible installation of tactical urbanism dedicated to improving our community's built environment. True to our namesake, the ART gets a big part of the tomato spotlight, where Art & Invention Gallery showcases over 300 tomato-inspired pieces throughout the weekend. 

Sweet Corn Festival

When: August 18th, 2018

Where: Lucky Ladd Farms

4374 Rocky Glade Road

Eagleville, TN

Late summer brings super sweet fun for all! We'll be serving up everybody's seasonal favorite - fresh roasted sweet corn on the cob dripping with warm butter and covered in your favorite flavored seasoning for only $2.99 plus tax. Test your skills and win prizes in the Corn Eating, Corn Shucking and Sweet Corn Selfie Competitions. Fresh picked sweet corn available for purchase - great for grilling up for your next summertime party.

Defy Film Festival in Nashville, TN

When: August 24th– 25th, 2018

Where: Studio 615

272 Broadmoor Drive

Nashville, TN

DEFY is focused on great work. Work made outside of the system. Work that had to defy all conventions to be made. Filmmakers that defy expectations. We are searching for artists that broke the mold, went beyond formulas, stepped outside of the frame, artists who took the traditions by the shoulders and shook out the dust. 

As a small festival, without limiting categories, we are open to anything, as long as it inspires. Defy gravity to lift us up and remind us why we love movies, love art, love the crazy people who put any chance of a normal life on the line in the service of bold, new work.

Family Day at OZ Arts

When: August 18th, 2018

Where: OZ Arts Nashville

6172 Cockrill Bend Circle

Nashville, TN

The 2018 edition of the ever-popular Family Day at OZ focuses on the stars above and the water below, helmed by Nashville-based visual artist Beth Reitmeyer in collaboration with the Adventure Science Center.

This year’s program merges science and art, including music, artist-led activities and insight throughout the OZ Arts campus. Reitmeyer, whose work has been exhibited in New York, Chicago, Houston, Berlin and Cincinnati, aims to bring joy through her installations. The event is held in collaboration with Adventure Science Center, extending the balance of earthly and ethereal and offering hands-on experiments.

Events in Charlotte, NC this August

Events in Charlotte, NC this August

Summer is coming to an end and that means there’s not much time left to do all the things you wanted to this summer. Get out and enjoy what is left of summer by attending some of these fun events in Charlotte, NC this August. Before you know it, the nights will get chilly and the days will grow short. From cocktail classes to Bubble Day, there’s sure to be something for everyone to enjoy in Charlotte.

Events in Charlotte, NC this August

Liberate your Palate Hands-on Cocktail Class: Caribbean Cocktails

When: August 3rd, 2018

Where: Camp North End

1824 Statesville Ave

Charlotte, NC

In our August class we focus on Caribbean Cocktails featuring different Latin ingredients. Over the course of this fantastic evening we will look into the secrets of Caribbean cocktails that bring the simplest ingredients into their finest potential. Cocktails to made in this class are Mojitos the way Cubans created them to be made, Rum Punch that you will be able make using a selection of ingredients of your liking and a Puerto Rican inspired Pina Colada.

The Fun Adult Art & Sip: Painting, Pottery, Karaoke & More!

When: August 3rd– 5th, 2018

Where: City Room Art

2828 Queen City Dr. B

Charlotte, NC

We offer both Freestyle and Guided options during our public sessions. Our public sessions are primarily for Adults 18+, but Youth 13+ are welcome if they are accompanied by an adult.. All participants are welcome to bring in food & soft drinks. Participants 21+ can bring in wine, beer, and malt beverages.  We keep the music going and karoake is always available!

Crossroads Classic

When: August 3rd– 5th, 2018

Where: Downtown Statesville

We are excited to announce local leaders in Statesville, NC have once again pulled together support to host three-days of racing at the 2018 Crossroads Classic presented by Statesville Convention & Visitors Bureau. We will be hosting a criterium on Friday evening, a second criterium on Saturday evening and a Road Race on Sunday. These three races will comprise the 2018 Crossroads Classic Omnium. 

Pentatonix with Echosmith and Calum Scott

When: August 4th, 2018

Where: PNC Music Pavilion

707 Pavilion Blvd

Charlotte, NC

Pentatonix, Texas’ sensational a cappella artists are bringing their signature sounds to the PNC Music Pavilion!

Pentatonix (often abbreviated as PTX) was formed in 2011 and is composed of 5 vocalists from Arlington; Avi Kaplan, Scott Hoying, Kirstin Maldonado, Kevin Olusola, and Mitch Grassi. Their music is renowned for their own arrangement style, tight vocal harmonies, extensive vocal riffing, deep and steady vocal basslines, and a diverse range of vocal percussion and beatboxing. The group came into the spotlight by winning the third season of The Sing-Off on NBC and their victory got them a recording contract with Sony Music. They’ve had a stellar career with 4 studio albums, 4 EPs, 8 singles, and 20 music videos. They won a Grammy Award in both 2015 and this year in the Best Arrangement, Instrumental or A Cappella category (for their songs Daft Punk and Dance of the Sugar Plum Fairy, respectively).

Friends and Beerfest: IPA Edition

Legion Brewing Company

1906 Commonwealth Ave

Charlotte, NC

From 4-8 PM, Legion Brewing is teaming up with several local breweries to celebrate National IPA Day in style. Whether you like your IPAs sticky and dank or fruity and funky, you’ll find the perfect brew for you as the “Friends and Beerfest: IPA Edition” will showcase some of the finest IPAs across the Charlotte region. Tickets include a logo tasting glass and unlimited IPA tastings from these local breweries: Legion Brewing, Birdsong Brewing Co., Heist Brewery, Free Range Brewing, D9 Brewing Company, Cabarrus Brewing Company, High Branch Brewing Co., Salud Cerveceria, Resident Culture Brewing Company, Lenny Boy Brewing Co., Twenty-Six Acres Brewing Company, Primal Brewery, The DreamChaser’s Brewery, Blue Blaze Brewing, Bold Missy Brewery, and more! Get your boogie on while you munch on grilled burgers and hot dogs with live music by The Goodnight Brothers with Abe Reid and The Flatland Tourists. The event also marks the return of Legion Brewing’s popular juice-bomb nectarine IPA: “Naughty By Nectar.” Tickets may be purchased for $40 via Eventbrite: https://www.eventbrite.com/e/legion-brewings-3rd-annual-friends-and-beerfest-ipa-edition-tickets-48149977880. Tickets may also be purchased at the door on the day of the event.

Callaloo Kids Puppeteers & Performance

When: August 11th, 2018

Where: Harvey B Gantt Center for African-American Arts & Culture

551 Tryon Street

Charlotte, NC

Two experiences, one exciting program. Enter the world of the Callaloo Kids(pronounced KAH-LAH-LOO) – Winston, Marisol and Zoe in a magical performance workshop and interactive book reading that explore puppetry and improvisation theater. The creators of the Callaloo Kids children’s book series, Marjuan Canady (writer) and Nabeeh Bilal (illustrator), will lead two action-packed sessions based on the final book in the Callaloo Kids trilogy, Callaloo: The Trickster and the Magic Quilt, which takes readers on a journey from the Gullah Sea Islands to the imaginary island of Sankofaland.

Festival of India

When: August 11thand 12th, 2018

Where: Belk Theater

130 North Tryon Street

Charlotte, NC

Festival of India is organized to showcase that diversity of culture and heritage to the larger community in the Carolinas and provides an excellent opportunity for cultural exchange in a fun setting. The festival exposes people here to the rich mosaic of different art, crafts, languages, couture and cuisine from the various regions of India in a festive setting. The result is to enhance the education of our fellow citizens about the rich heritage of an ancient civilization with the expectation of bringing different people together. Our linkage and collaboration (e.g: theme India exhibit contest) with the Charlotte Middle schools, reflects our keen desire to educate and broaden the horizon of young people to the rich cultures from other parts of the world.

The Festival brings the best talent within the community to highlight a fusion of popular modern (Bollywood) and classical Indian dance forms, in captivating performances that educate and enthrall people of all ages.

Bubble Day

When: August 11th, 2018

Where: President James K. Polk State Historic Site

12031 Lancaster Hwy

Pineville, NC

Saturday, 10 am to 1 pm
This program will feature a series of activities including arts + crafts, bubble-making areas, and a water play table for very little ones. Light, cooling refreshments and take-home treats will be provided while supplies last. Parking fee is $5 for non-member

Over the Rainbow Pride Weekend Kickoff

When: August 17th, 2018

Where: Rooftop 210

210 E Trade Street B320

Charlotte, NC

Join Rooftop 210 as we help to celebrate Charlotte in it's annual PRIDE week. About this Event We are kicking off PRIDE week a night early on Friday, August 17th in our “Over the Rainbow” drag event. Hosted by Queen City’s Favorite Buff Faye and featuring Charlotte’s BEST Drag Queens. This show will feature the finest and fiercest qweens of Charlotte. Get ready for some glitter and sass as these divas slay the runway. This exclusive PRIDE event is something you don’t want to miss. Benefiting Campus Pride (CampusPride.org) Drag Show Music and Entertainment Comedy Drag Fashion Charity Event.

Back 2 School Skate Party

When: August 19th, 2018

Where: Kate’s Skating Rink

14500 E. Independence Blvd

Indian Trail, NC

Hosted by The Block's own "Chewy" the countdown to the 3rd Annual Back 2 School Skate Party to hit the Queen City is on! Last year we packed out Kate's Skating Rink with over 500 ppl and on Sunday, August 19th we will be at capacity. We will have a DJ and Tons of Giveaways. Bring your entire family as this will be a fun filled night before we send the kids back to school.

2 Story Townhouse Floor Plans for Sale

2 Story Townhouse Floor Plans for Sale

At Preston Wood & Associates, we're known for designing the most beautiful 3 and 4 story townhouse floor plans, but we also design smaller townhouse floor plans. This 2 story townhouse floor plan for sale has everything you could want in a stunning design, but in smaller footprint at 1995 square feet.

The main level of this 2 story townhouse floor plan is well designed living space and the 2 car garage. The floor plan is open, providing a lovely space for entertaining or just hanging out with family. The kitchen is open to the family room and dining room so you'll never miss the conversation while preparing a Thanksgiving dinner for the extended family. You can even take the party outside under the covered lanai! The kitchen includes ample work space with both the large island and plenty of counter space. The pantry provides ample storage and organization. The powder room is located under the stairs.

Head upstairs to access the bedrooms. The master suite is located in the rear of the house for a little privacy and features a large 10X7 walk-in closet and a master bath with separate soaking tub and walk-in shower, private toilet area and double vanity sinks. There's plenty of storage and organization to be had in this well designed home.

The two bedrooms each have ample sunlight from two windows each and they share a bathroom with double vanity and tub/shower combination. Both had spacious closets and easy access to the second floor game room.

This townhome plan has 1995 square ft. of living space. This townhouse plan design has a width of 26'-10" and a depth of 52'-8". For more information on this townhome plan and floor plans please call 713 522 2724 or E-mail us.

  • LEVEL ONE: 678
  • LEVEL TWO: 1317
  • TOTAL LIVING: 1995

     

    CALL 713 522 2724 or E-mail us.

    click here for more information on Townhouse Plans.
    Preston Wood and Associates is a member of the "American Institute of Building Design." The "AIBD" is a national organization with chapters in every major U.S. city including Houston, Atlanta, Albuquerque, Austin, Dallas, Raleigh-Durham and Washington, DC.

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Housing Starts Reach Post-Recession High in May as Permits Soften

Housing Starts Reach Post-Recession High in May as Permits Soften

In this recent article from the National Association of Home Builders, housing starts reached a post-recession high in May. Housing starts rose 5% to an adjusted annual rate of 1.35 million units - the highest since July 2007. Permits have dropped however, pointing to a decrease in future housing activity. Continue reading the full article below.

Housing Starts Reach Post-Recession High in May as Permits Soften

(NAHB), Total housing starts rose 5 percent in May to a seasonally adjusted annual rate of 1.35 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This is the highest housing starts report since July 2007.

While housing production numbers rose, overall permits — which are a sign of future housing production activity — dropped 4.6 percent to 1.3 million units in May. Single-family permits fell 2.2 percent to 844,000 while multifamily permits fell 8.7 percent to 457,000.

“Ongoing job creation, positive demographics and tight existing home inventory should spur more single-family production in the months ahead,” said NAHB Chief Economist Robert Dietz. “However, the softening of single-family permits is consistent with our reports showing that builders are concerned over mounting construction costs, including the highly elevated prices of softwood lumber.”

The May reading of 1.35 million is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts rose 3.9 percent to 936,000 — the second highest reading since the Great Recession. Meanwhile, the multifamily sector — which includes apartment buildings and condos — rose 7.5 percent to 414,000 units.

Year-to-date, single-family and multifamily production are respectively 9.8 percent and 13.6 percent higher than their levels over the same period last year. The year-to-date metric can help compare performance data over a specific time period and show growth trends.

“We should see builders continue to increase production to meet growing consumer demand even as they grapple with stubborn supply-side constraints, particularly rising lumber costs,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La.

Regionally, the Midwest led the nation with a 62.2 percent increase in combined single- and multifamily housing starts. Starts fell 0.9 percent in the South, 4.1 percent in the West and 15 percent in the Northeast.

Looking at regional permit data, permits rose 42.1 percent in the Northeast and 7.2 percent in the Midwest. They fell 4.6 percent in the West and 13.9 percent in the South.