GayRealEstate USA

LGBT Zipcodes -- A Closer Look -- Memphis, Tennessee & Birmingham, Alabama

By Jeff Adolph

Park Side Living

With environmental issues on everyones agenda, Smart Growth America, a national green space coalition is looking to develop more parkland's like New York's 843 acre Central Park.

"We grew so rapidly in the '80s & '90s in the rate we were consuming land, people did become alarmed, says David Goldberg, spokesman for Smart Growth America. This desire for parkland and capitalizing on natural assets is really taking hold."

The bonuses associated with park side real estate are:

1. Increased property value and demand;
2. Parkland's ease environmental concerns; and
3. Greenbelts provide an attractive and healthy environment.

Parks that are in progress in LGBT areas are:

Tennessee -- 4,500 acre Shelby Farms in Memphis, which is said to be a representation of a park in the 21st Century. The former prison farm will comprise of approximately 2,250 acres of parks and three residential areas.

Alabama -- U.S Steel sold a 1,100 acre site at Red Mountain in Birmingham for $7 million to park developers when it was estimated to be worth $16 million. the park will have 18 miles of trails and fishing ponds. 

Main Story Source: Nasser, Haya El (2008) Huge Parks Follow Demand for More Green Space; available online at www.usatoday.com

Picture Source: Microsoft Online

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Around the Nation -- Residential Real Estate Update - Tennessee

By Jeff Adolph

State-by-state

Situated in the Southern region of the U.S.A, this state is ranked as the 36th largest by land mass and the 16th largest by population with 5,689,283 people residing in this region.

This states economy relies heavily on cattle, textiles, cotton, electrical power, and soybeans. It's largest corporations include FedEx, AutoZone and International Paper.

there is no income tax in this state on wages or salaries, however income from stocks, bonds ans shares is taxed at 6%. this state has a 6% sales tax, and residential property is taxed at 25% of fair market value.

Memphis

Homes are typically sitting on the market for 60-90 days in this region with the median home price hovering around $150,000. The market trend in this area is said to be stable with no changes recorded and prices are remaining consistent with last years figures.

with more sellers than buyer in the region, buyers are getting 85-90% of their asking price and the hottest valued market in this region is based on population growth.

Local interest rates are good and the market is stable here which makes for good investment opportunities.

LGBT Real Estate Facts: There are approximately 10,189 same-sex couples residing in Tennessee making this region the 18th gayest state in America. The gayest zip codes in this locality are 38104 Crosstown, Memphis; 37013 Antioch; 37211 Woodline, Nashville; and 37206 East Nashville. -- gaydemographics.com

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

Picture Source: wikipedia.org

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By Jeff Adolph

State-by-state

Situated in the Southern region of the U.S.A, this state is ranked as the 36th largest by land mass and the 16th largest by population with 5,689,283 people residing in this region.

This states economy relies heavily on cattle, textiles, cotton, electrical power, and soybeans. It's largest corporations include FedEx, AutoZone and International Paper.

there is no income tax in this state on wages or salaries, however income from stocks, bonds ans shares is taxed at 6%. this state has a 6% sales tax, and residential property is taxed at 25% of fair market value.

Memphis

Homes are typically sitting on the market for 60-90 days in this region with the median home price hovering around $150,000. The market trend in this area is said to be stable with no changes recorded and prices are remaining consistent with last years figures.

with more sellers than buyer in the region, buyers are getting 85-90% of their asking price and the hottest valued market in this region is based on population growth.

Local interest rates are good and the market is stable here which makes for good investment opportunities.

LGBT Real Estate Facts: There are approximately 10,189 same-sex couples residing in Tennessee making this region the 18th gayest state in America. The gayest zip codes in this locality are 38104 Crosstown, Memphis; 37013 Antioch; 37211 Woodline, Nashville; and 37206 East Nashville. -- gaydemographics.com

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

Picture Source: wikipedia.org

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Tennessee and Residential Real Estate

By Jeff Adolph

Residential Real Estate

Despite recent reports of a sluggish housing market, East Tennessee has a hot,hot,hot apartment sector.

Yes, there were some deals that were commercial that made real estate headlines, but the states realty market was dominated by apartments and buyers wanting to buy, buy, buy.

Steve massey, executive vice president at CB Richard Ellis in Nashville (voted 42nd in the country for LGBT couples to live), a company who specializes in multifamily properties said, 'There were a lot of buyers with equity to put into deals and a lot of lenders willing to provide financing on favorable terms.'

Rental income growth if your looking to invest in Knoxville is picking up according to chief economists in the region.

Sam Chandron, chief economist for REIS data, a New York research firm said, 'Rent growth is now picking up and vacancy is now falling, because of limited apartment development activity.'

Broker with Coldwell, Steve Goldman, feels that the next 5-10 years will see a strong apartment market emerge.

The best deals in this region are-- Forest Ridge Apartments; First Tennessee Plaza; Goody's Headquarters; Eagle Pointe and Courtyard Apartments; Woodland West Apartments; Crossing Place Apartments; Walden Legacy Apartments; University Heights Apartments; Walker-Sherill Property; and Gander Mountain Store.

Real Estate Fact: Tennessee has an estimated population of over 6,000,000 people of these 1-2% are estimated to be gay. The city of Knoxville is ranked as the 2nd in the state of Tennessee in terms of homes sold -- 1,148 homes sold in the last quarter of 2007 with a median price of $184,000 -- Nextag and Wikipedia. 

Source: Flory, Josh (2008) Apartments Top 2007 Real Estate Deals; available on-line at www.knoxnews.com

Image Source: www.tn52.com and www.knoxapts.com

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By Jeff Adolph

Residential Real Estate

Despite recent reports of a sluggish housing market, East Tennessee has a hot,hot,hot apartment sector.

Yes, there were some deals that were commercial that made real estate headlines, but the states realty market was dominated by apartments and buyers wanting to buy, buy, buy.

Steve massey, executive vice president at CB Richard Ellis in Nashville (voted 42nd in the country for LGBT couples to live), a company who specializes in multifamily properties said, 'There were a lot of buyers with equity to put into deals and a lot of lenders willing to provide financing on favorable terms.'

Rental income growth if your looking to invest in Knoxville is picking up according to chief economists in the region.

Sam Chandron, chief economist for REIS data, a New York research firm said, 'Rent growth is now picking up and vacancy is now falling, because of limited apartment development activity.'

Broker with Coldwell, Steve Goldman, feels that the next 5-10 years will see a strong apartment market emerge.

The best deals in this region are-- Forest Ridge Apartments; First Tennessee Plaza; Goody's Headquarters; Eagle Pointe and Courtyard Apartments; Woodland West Apartments; Crossing Place Apartments; Walden Legacy Apartments; University Heights Apartments; Walker-Sherill Property; and Gander Mountain Store.

Image Source: www.tn52.com and www.knoxapts.com

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Brownlow Development Has A Green Light

By Jeff Adolph

LGBT Developments

Despite a rocky real estate climate, Brownlow Lofts (building pictured left) developers in Knoxville are set to proceed with the project.

The development team of the Brownlow Lofts are not perplexed by the threat of an unstable national economy and equally unsteady real estate market. As locals in the Knoxville region point-out 'Knoxville's real estate scene' is much more stable than others though it too has cooled.

Residents are said to be elated with the decision to continue with the Brownlow development as the present condition of the old elementary school is a disgrace.

Tammy Hardin and her husband, B.K, part of a firm that bought into the redevelopment felt it was a buyers market if you were smart.

'...any chance you can sort of help rebuild something like that and make it a viable, profitable venture, I think that's good,' said B.K Hardin.

Hardin added, 'It's a buy and hold market. Real estate's going to go back up. It always has.'

Local Realtors feel that the building is what is referred to as a 'sleeper'.

Brownlow Lofts are predicted to be complete by the Fall of 2008 and will cost approximately $6 million to convert into 35 condominiums.

Source: Flory, Josh (2007) Florey: Group Set to Restore Brownlow; available online at www.knoxnews.com

Image Source: www.kns.com and www.knoxnews.com

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Knoxville Updated

By Jeff Adolph

Re-development and the Market

Knoxville residences have always been pre-sold as they have been re-developed, now as the real estate market slows so to are condominium sales, with many residences being completed and still awaiting owners.

Developer and architect, Mark Heinz who works with Dewhirst Properties said, 'I think it's fair to say that downtown Knoxville has been affected by the housing-market slump, but fortunately we're some what insulated. There's a relatively small amount on the market, and downtown only has a finite amount of space to develop.'

Knoxville is what could be reffered to as an 'exclusive area' with prices ranging from $50 to $100 per square foot.

Wayne Blauis, a developer of Gay Street's Phoenix Building and now partner in the Gallery Lofts has a $765,000 unit un-sold, whereas the $661,000 sold only last month.

As Blauis said of the remaining unit, 'we knew that would have to be a special buyer.'

Heinz and Blauis both felt prices in the area wouldn't fall much as it was just too expensive to re-develop buildings into accommodation and the prices would need to remain fairly consistent in order for a profit to made, plus the demand in the area was far greater than the building availability.

Source: Neely, J (2007) Metro Pulse: Knoxville's Weekly Voice; available online at http://metropulse.com/articles/2007/17_39/citybeat.html

Images: knoxville.org

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JFG Building Redevelopment

By Jeff Adolph

Knoxville Update

Construction to convert the JFG Building at 200 W.Jackson Avenue, Knoxville is likely to commence in March. The six-story property owned by David Dewhirst shall be a combination of retail and residential space.

For Dewhirst this will be his third project in the area with the Cherokee Building located at 400 Church Avenue nearing completion and the 14-story Holston Building expected to be finished by next Spring.

As Dewhirst said of his developments, 'there's so many folks that rent here for a year or so and love it and then go ahead and buy a unit.'

The plan for Dewhirst's newest acquisition is to build nine units per floor -- 3 studio apartments - 3 two-bedroom and 3 one-bedroom units -- with rents starting from $500 per month.

Source: Flory, J (2007) Flory Hot Plans for the JFG Building; available online at http://www.knoxnews.com/news/2007/jul/25/hot-plansfor-the-jfgbuilding/

Image Source: www.pikemurdy.com and www.knowxvillechamber.com

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Have Your Say On the LGBT Political Front - August 19th 2007

By Jeff Adolph

LGBT Politics

In a national first, the Democrats are challenging the Republicans by staging a debate that is dedicated to the LGBT community and will answer many of the issues facing Lesbians, Gays, Bi-sexual's and the Transgendered across the nation.

The leading candidates for the Democratic  nomination for presidency will actively involve themselves in this debate on August the 9th, which is being telecast by LOGO, a gay cable network. Alternatively, you may view proceedings on http://www.logoonline.com/ if you are unable to access the network.

Participants in the debate will include Hilary Clinton, Barack Obama and John Edwards (pictured above), with the moderators being singer Melissa Etheridge and Joe Solmonese, Human Rights Campaign's president.

If you would like to actively participate by lodging questions for the candidates to answer you may do so by logging on to LOGOonline.com as well as on HRC.org.

Source: Demorcrats to Hold Gay Debate (2007) available online at www.wweek.com

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Out and About Off the Shelf in Tennessee

By Jeff Adolph

Gay Publications

Tennessee Gay Newspaper Out and About (O&AN) has been removed from Kroger super-chain grocery store's, an order that was handed down by Kroger management on May 31st.

The shock decision by Kroger has seen the newspaper publisher and the LGBT Community demand an inquiry of the grocery chains actions, especially when in April they had signed a contract for distribution with O&AN publisher, Jerry Jones.

The deal announced in late April was to enable the paper the be distributed in '34 Kroger Stores and three Harris Teeter Stores', an arrangement that was viewed as monumental in terms of equality for the LGBT community.

As Jones said, 'When we signed the contract with Distributech and wrote the first check we felt like we'd made history.'

Kroger's explanation for the move was 'publications with a religious or political agenda, were and are removed and not permitted. The racks are for real estate, auto, health and neighborhood-type publications only.'

The grocery chain added, 'It was never approved.'

Jones insists he has a signed contract and approval and can not understand why his publication has been removed especially when other gay publications are distributed in the Kroger stores.

Source and Images : Masters, T (2007) Kroger Co. to Gays... out of Groceries?; available online at http://www.gaycitynews.com

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By Jeff Adolph

Gay Publications

Tennessee Gay Newspaper Out and About (O&AN) has been removed from Kroger super-chain grocery store's, an order that was handed down by Kroger management on May 31st.

The shock decision by Kroger has seen the newspaper publisher and the LGBT Community demand an inquiry of the grocery chains actions, especially when in April they had signed a contract for distribution with O&AN publisher, Jerry Jones.

The deal announced in late April was to enable the paper the be distributed in '34 Kroger Stores and three Harris Teeter Stores', an arrangement that was viewed as monumental in terms of equality for the LGBT community.

As Jones said, 'When we signed the contract with Distributech and wrote the first check we felt like we'd made history.'

Kroger's explanation for the move was 'publications with a religious or political agenda, were and are removed and not permitted. The racks are for real estate, auto, health and neighborhood-type publications only.'

The grocery chain added, 'It was never approved.'

Jones insists he has a signed contract and approval and can not understand why his publication has been removed especially when other gay publications are distributed in the Kroger stores.

Source and Images : Masters, T (2007) Kroger Co. to Gays... out of Groceries?; available online at http://www.gaycitynews.com

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'Sentinel Tower' a Possibility

By Jeff Adolph

Redevelopment

The former 'News Sentinel' property situated in downtown Knoxville and owned by Knox County recently attracted a $796,500 bid for purchase.

The bid submitted by the Devon Group, a redevelopment firm who is proposing to build a 21-storied residential, office and retail tower on the site that possibly could see the development reach a price of well over $56 million when the project is realized.

The 'Sentinel Tower' as it will be called would include 58 residential units, 5 town homes, 39,000 sq feet of office and retail area as well as parking for approximately 200 vehicles. In total the building is close to 310 sq feet and covers nearly an acre.

The developers predict an enthusiastic response to their proposal given that Knoxville is said to be at a 'critical juncture' with a need to 'diversify housing supply' and 'address current demand' as well as 'cultivate new demand.'

Source and Images : Flory, J (2007) Group Plans 21-Story Tower; available online at http://www.knownews.com

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By Jeff Adolph

Redevelopment

The former 'News Sentinel' property situated in downtown Knoxville and owned by Knox County recently attracted a $796,500 bid for purchase.

The bid submitted by the Devon Group, a redevelopment firm who is proposing to build a 21-storied residential, office and retail tower on the site that possibly could see the development reach a price of well over $56 million when the project is realized.

The 'Sentinel Tower' as it will be called would include 58 residential units, 5 town homes, 39,000 sq feet of office and retail area as well as parking for approximately 200 vehicles. In total the building is close to 310 sq feet and covers nearly an acre.

The developers predict an enthusiastic response to their proposal given that Knoxville is said to be at a 'critical juncture' with a need to 'diversify housing supply' and 'address current demand' as well as 'cultivate new demand.'

Source and Images : Flory, J (2007) Group Plans 21-Story Tower; available online at http://www.knownews.com

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By Jeff Adolph

Redevelopment

The former 'News Sentinel' property situated in downtown Knoxville and owned by Knox County recently attracted a $796,500 bid for purchase.

The bid submitted by the Devon Group, a redevelopment firm who is proposing to build a 21-storied residential, office and retail tower on the site that possibly could see the development reach a price of well over $56 million when the project is realized.

The 'Sentinel Tower' as it will be called would include 58 residential units, 5 town homes, 39,000 sq feet of office and retail area as well as parking for approximately 200 vehicles. In total the building is close to 310 sq feet and covers nearly an acre.

The developers predict an enthusiastic response to their proposal given that Knoxville is said to be at a 'critical juncture' with a need to 'diversify housing supply' and 'address current demand' as well as 'cultivate new demand.'

Source and Images : Flory, J (2007) Group Plans 21-Story Tower; available online at http://www.knownews.com

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When Opportunity Knox

By Jeff Adolph

Special Interest

Considering an investment? Then Knoxville's tallest building situated at 800 S. Gay Street may be the way to go, as Parkway Properties the buildings current owners search for a joint venture partner.

Annette Mehal, regional property manager believes the building partnership could possibly happen over the next three to six months, and the price and stake will be dependant on just who the buyer is.

Parkway purchased the building in 1997 for the tidy sum of $29.9 million and it is estimated to have a 92% occupancy rate to date, according to the Parkway website. The tenants at present are mostly high profile like the First Tennessee Bank and the Brunswick Boat Group.

At any rate, the investment could just be ripe for the picking...

Source and Images: Flory, J (2007) Joint Venture in the Works for the Plaza; available online at http://www.knoxnews.com

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April 13, 2007 in Tennessee | Permalink | Comments (0) | TrackBack (0)

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RealGays RealGhettos

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  “In our view it’s the richness of diversity – like a colorful tapestry, that makes the world and our neighborhood such a wonderful place.”
  ~ Jeffery Adolph Hammerberg & Merlin Parker Denver, CO
  

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RealEstate Blog Contest

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By Jeff Adolph

Special Interest

Considering an investment? Then Knoxville's tallest building situated at 800 S. Gay Street may be the way to go, as Parkway Properties the buildings current owners search for a joint venture partner.

Annette Mehal, regional property manager believes the building partnership could possibly happen over the next three to six months, and the price and stake will be dependant on just who the buyer is.

Parkway purchased the building in 1997 for the tidy sum of $29.9 million and it is estimated to have a 92% occupancy rate to date, according to the Parkway website. The tenants at present are mostly high profile like the First Tennessee Bank and the Brunswick Boat Group.

At any rate, the investment could just be ripe for the picking...

Source and Images: Flory, J (2007) Joint Venture in the Works for the Plaza; available online at http://www.knoxnews.com

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April 13, 2007 in Tennessee | Permalink | Comments (0) | TrackBack (0)

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RealGays RealGhettos

• 
  “In our view it’s the richness of diversity – like a colorful tapestry, that makes the world and our neighborhood such a wonderful place.”
  ~ Jeffery Adolph Hammerberg & Merlin Parker Denver, CO
  

Gay Business

• 
  

RealEstate Blog Contest

• Enjoy Reading Gay Real Estate USA? Then Cast Your Vote...

  Real Estate Blog Contest

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By Jeff Adolph

Special Interest

Considering an investment? Then Knoxville's tallest building situated at 800 S. Gay Street may be the way to go, as Parkway Properties the buildings current owners search for a joint venture partner.

Annette Mehal, regional property manager believes the building partnership could possibly happen over the next three to six months, and the price and stake will be dependant on just who the buyer is.

Parkway purchased the building in 1997 for the tidy sum of $29.9 million and it is estimated to have a 92% occupancy rate to date, according to the Parkway website. The tenants at present are mostly high profile like the First Tennessee Bank and the Brunswick Boat Group.

At any rate, the investment could just be ripe for the picking...

Source and Images: Flory, J (2007) Joint Venture in the Works for the Plaza; available online at http://www.knoxnews.com

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And, remember Friday the Thirteenth is considered LUCKY for some! May this be your LUCKY day...

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April 13, 2007 in Tennessee | Permalink | Comments (0) | TrackBack (0)

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By Jeff Adolph

Special Interest

Considering an investment? Then Knoxville's tallest building situated at 800 S. Gay Street may be the way to go, as Parkway Properties the buildings current owners search for a joint venture partner.

Annette Mehal, regional property manager believes the building partnership could possibly happen over the next three to six months, and the price and stake will be dependant on just who the buyer is.

Parkway purchased the building in 1997 for the tidy sum of $29.9 million and it is estimated to have a 92% occupancy rate to date, according to the Parkway website. The tenants at present are mostly high profile like the First Tennessee Bank and the Brunswick Boat Group.

At any rate, the investment could just be ripe for the picking...

Source and Images: Flory, J (2007) Joint Venture in the Works for the Plaza; available online at http://www.knoxnews.com

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And, remember Friday the Thirteenth is considered LUCKY for some! May this be your LUCKY day...

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April 13, 2007 in Tennessee | Permalink | Comments (0) | TrackBack (0)

By Jeff Adolph

Special Interest

Considering an investment? Then Knoxville's tallest building situated at 800 S. Gay Street may be the way to go, as Parkway Properties the buildings current owners search for a joint venture partner.

Annette Mehal, regional property manager believes the building partnership could possibly happen over the next three to six months, and the price and stake will be dependant on just who the buyer is.

Parkway purchased the building in 1997 for the tidy sum of $29.9 million and it is estimated to have a 92% occupancy rate to date, according to the Parkway website. The tenants at present are mostly high profile like the First Tennessee Bank and the Brunswick Boat Group.

At any rate, the investment could just be ripe for the picking...

Source and Images: Flory, J (2007) Joint Venture in the Works for the Plaza; available online at http://www.knoxnews.com

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And, remember Friday the Thirteenth is considered LUCKY for some! May this be your LUCKY day...

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By Jeff Adolph

Special Interest

Considering an investment? Then Knoxville's tallest building situated at 800 S. Gay Street may be the way to go, as Parkway Properties the buildings current owners search for a joint venture partner.

Annette Mehal, regional property manager believes the building partnership could possibly happen over the next three to six months, and the price and stake will be dependant on just who the buyer is.

Parkway purchased the building in 1997 for the tidy sum of $29.9 million and it is estimated to have a 92% occupancy rate to date, according to the Parkway website. The tenants at present are mostly high profile like the First Tennessee Bank and the Brunswick Boat Group.

At any rate, the investment could just be ripe for the picking...

Source and Images: Flory, J (2007) Joint Venture in the Works for the Plaza; available online at http://www.knoxnews.com

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And, remember Friday the Thirteenth is considered LUCKY for some! May this be your LUCKY day...

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