CREATING NEW COMMUNITIES Making Dollars and Sense
August 2012
New Construction Properties Multifamily Will Remain at the Head of the Class When the Construction Stops, the Consternation Begins
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Table of Contents August 2012 n Issue 5 THE OFFICIAL PUBLICATION OF THE NEW JERSEY APARTMENT ASSOCIATION
F E A T U R E S
12 14 17 18
Industry Insights
Multifamily Will Remain at the Head of the Class
Road to Success
When the Construction Stops, the Consternation Begins
Charitable Fund Golf Outing
Registration Form
New Construction The Klein Company Hartz Mountain AvalonBay Communities Ironstate Development The Walters Group
26 28 32 I N
5 6 7 8 10 11 34 37
Garden State Awards
Sponsorship Opportunities Registration Form
Tools of the Trade
Making Dollars and Sense
NJAA PAC
Special Guest Bios 9th Annual PAC Reception
E V E R Y
I S S U E Fast Facts Directors & Officers President’s Message New Members Members in the News Committee Corner PAC Contributors Education & Event Calendar
EXECUTIVE DIRECTOR Jean Maddalon jean@njaa.com VP OF GOVERNMENT AFFAIRS Legislative Editor Conor G. Fennessy conor@njaa.com DIRECTOR OF COMMUNICATIONS Editor Christine Haber christine@njaa.com DIRECTOR OF REGULATORY AFFAIRS & RESEARCH Fast Facts Editor Nicholas Kikis nicholas@njaa.com ACCOUNTING & OFFICE MANAGER Eileen Corbett eileen@njaa.com EVENTS MANAGER Damaris Zayas damaris@njaa.com EDUCATION COORDINATOR Jaclyn Olszewski jaclyn@njaa.com ADMINISTRATIVE ASSISTANT & RECEPTIONIST Jaime Reinwald jaime@njaa.com New Jersey Apartment Association - HQ 104 Interchange Plaza, Suite 201 Monroe Township, NJ 08831 Tel: (732) 992-0600 Fax: (609) 860-0060 Legislative Office 172 West State Street, Suite 304 Trenton, NJ 08608 Tel: (609) 393-5200 Fax: (609) 393-5222 www.njaa.com Cover photo of Avalon at Westmont Station by Alan Shindler. TOC photo of Dwell at Cherry Hill by Francois Guignard Trademarks, name brands and other copyrighted items used in this publication are the property of the respective owners. AIM Advertising Contact Christine Haber at christine@njaa.com or 732-992-0603 for rates and deadlines.
Multifamily Market Update
Fast Facts
August 2012
Multi-family rents in New Jersey continue to rebound from lows recorded at the end of the Great Recession (December 2007 - July 2009). However, despite eight quarters of consistent growth in effective rents (rent after concessions are made), these gains have been insufficient to keep pace with the overall rise in prices across the economy as measured by the Consumer Price Index (CPI-U). Put differently, real (inflation-adjusted) rents are lower at the start of 2012 than they were at the start of 2008.
Multifamily Rents and Vacancy Rates First Quarter 2012 versus First Quarter 2011 Asking Rent $
% Chg % Chg Effective Vacancy Q1 '11 to Q1 '11 to Rent $ % Q1 '12 Q1 '12
Bergen County
$ 1,602
1.9%
$ 1,555
2.4%
3.3%
Essex County (Eastern)
$
916
3.0%
$
889
3.7%
5.9%
Essex County (Western)
$ 1,542
1.6%
$ 1,492
2.3%
2.4%
Hudson County
$ 2,618
1.8%
$ 2,540
2.5%
5.0%
Mercer County
$ 1,108
1.2%
$ 1,069
1.6%
3.4%
Middlesex County
$ 1,226
1.9%
$ 1,196
2.5%
2.5%
Monmouth County
$ 1,127
1.0%
$ 1,106
1.6%
3.2%
Morris County
$ 1,271
1.0%
$ 1,216
1.4%
2.1%
Ocean County
$ 1,020
3.1%
$
980
3.8%
2.4%
Passaic County
$ 1,292
3.3%
$ 1,241
4.1%
3.2%
Somerset County
$ 1,301
2.8%
$ 1,267
3.4%
3.8%
Union County
$ 1,215
2.7%
$ 1,148
3.4%
3.6%
Average
$ 1,385
2.0%
$ 1,342
2.6%
3.5%
Source: NJAA Tabulations of Data Provided by Reis, Inc. All rents are gross rents. Asking rents reflect advertised rental rates before any concessions are offered. Effective rents reflect the actual rent charged over the lease term (asking rents minus any concessions).
New Jersey Effective Rent Growth $1,360 $1,340 $1,342
$1,320
$1,335 $1,318
$1,300 $1,280 $1,260
$1,240
$1,315
$1,308 $1,296
$1,296 $1,287
$1,286
$1,286 $1,276
$1,295
$1,302
$1,307
$1,314
$1,322
$1,278
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2008 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011 2012
Directors & Officers 2012 Board of Directors Matt Adler, Adler Residential Michael Barry, Applied Development Company Michael Beirne, The Kamson Corporation Andrew Cohen, Rock Properties Joseph Collins, CALECO Vincent Comperatore, Comperatore Associates, Inc. George Cowden, Multi-Housing Depot by ARI Sue D’Angiolillo Apartment Finder William Diggs, Renaissance Equity, LLC Ann Emerson, Equity Residential Larry Falkow, The APTS Jonathan S. Gershen, The Gershen Group Andrew Goldberg, RestoreCore Michael Goldberg, Goldberg Realty Associates Alan R. Hammer, Esq., Brach Eichler LLC George Jacobs, JK Management, LLC Joseph Kazarnovsky, Fieldstone Properties, LLC Tom Kretsch Segal & Segal Ronald S. Ladell, AvalonBay Communities, Inc. Anthony E. Lauro, Affiliated Management, Inc. David Legow, Legow Management Company Jerome J. Lombardo, C.J. Lombardo Company Scott Machlovitz, Hilton Realty Jim McGrath, PRD Management Michael O’Dea, Hekemian & Company, Inc. Diana Penn, JMG Realty, Inc. Marshall Rosen, Solomon Organization Steve Rudolph AFR Furniture Rentals David Siegel, Coinmach Corporation Jeff Smith, Kriegman & Smith, Inc. Larry Stein, Appliance Brokers, LTD Meg Viezbicke, Apartments.com John Zoetjes, American Architectural Window & Door
NJAA Board Officers
President
1st Vice President
Brent Kohere
Michael Haydinger
Home Properties
First Montgomery Group
2nd Vice President
Vice President
William Dailey
Joseph Spadaccini
CIS Management Inc.
The Kamson Corporation
Vice President
Vice President of Associate Affairs
Jack Linefsky
John Cranmer
Value Companies, Inc.
Archer & Greiner
Secretary
Treasurer
Steve Waters
Lynne Aber
Morgan Propeties
Bertram Associates
Past Presidents Jeff Smith, Kriegman & Smith, Inc. Tom Kretsch, Segal & Segal Jonathan S. Gershen, Esq., The Gershen Group David Legow, Esq., Legow Management Company Peter J. Weidhorn Michael Goldberg, Goldberg Realty Associates Paul Kaliades, Renters Legal Liability Insurance Mark S. Rosen, Esq., Solomon Organization Norman A. Feinstein, Esq., The Hampshire Companies Herbert Brien, Lismarc Management Corp. Donald M. Legow, Esq., Legow Management Company Robert Goldberg, Goldberg Realty Associates Andrew B. Abramson, The Value Group, Inc. Richard Segal, Segal & Segal Sam Herzog, S.A.M. Holding Company Alfred Sanzari, Alfred Sanzari Enterprises (1932-2005)
Executive Director Jean Maddalon NJAA
Au g u s t 2 0 1 2 | A I M
President’s Message
Creating New Communities by Brent Kohere Home Properties
T
his issue spotlights new construction projects and the innovative and efficient designs that have become part of our everchanging multifamily industry in New Jersey. NJAA members bring vitality and progress to the housing industry with each and every new construction project they take on. Despite the numerous regulations and long development lead time, our members continue to offer quality new communities to thousands of New Jersey’s working families, young couples and seniors. The new construction being highlighted in this issue covers a wide range of property types that are necessary for the continued growth of the State. Starting on page 18, you’ll see stories and photos of recent new construction projects involving The Klein Company, Hartz Mountain, AvalonBay Communities, Ironstate Development, and The Walters Group. Construction of a new property is just the starting point for a community to flourish; creating an apartment community is about people – residents, onsite staff, managers and corporate staff. Each and every day our industry helps to place residents in homes that they want to live in. Your commitment to multifamily
A I M | Au g u s t 2 0 1 2
housing means that your time and energy are spent providing services that your residents want and need. A key to ensuring the success of your community and the happiness of your residents lies in creating a positive experience for them every time they interact with you. By delivering on that service promise successfully at every opportunity, you can go beyond resident satisfaction and achieve excellence for your residents and your community. The industry knows that customer service is not something you offer a few times a year. It’s the way you treat your residents every moment of every day. In fact, more than 220 nominations were submitted for the 2012 Garden State Awards of Excellence so far. I am pleased that so many staff members, communities, owners, associates and management firms have been nominated. Please join me as we recognize excellence at our Annual Awards Dinner on October 18th at The Hyatt Regency New Brunswick. (For a registration form see page 27). Interested in sponsoring this night of recognition? Opportunities are still available, see page 26 for details. Prior to Garden State Awards we will be holding two events this fall. On
September 10th, the NJAA Charitable Fund will be hosting its Annual Golf Outing at Fiddler’s Elbow Country Club in Bedminster. Foursomes and sponsorship opportunities are still available, see page 17 for more information. Following the Golf Outing, the 9th Annual NJAA PAC Reception will be held on October 3 at Crestmont Country Club in West Orange and will feature special guests: Senator Barbara Buono (D-Middlesex), Senator Steve Oroho (R-Sussex), and Patrick Murray, Director - The Polling Institute at Monmouth University with moderator Michael Aron of NJTV. We’d like to thank our generous PAC Host Committee members. See page 33 for more information. The success of the multifamily industry is in our people and our future depends on working together to build a stronger and fully represented association. I urge all members who have never attended an awards dinner to mark your calendars now and join us for a truly wonderful evening that recognizes excellence in the industry. I look forward to seeing you at one of our events this fall and hope you are all enjoying the Summer. n
New Members
Welcome New Members Owners Barbara Place Apartments Mr. Frances Gonzales 471 Pacific Avenue Jersey City, NJ 07304 Phone: (201) 395-0900 Fax: (201) 395-0911 Ocean Towers Associates Ms. Doris Boney 425 Ocean Avenue Jersey City, NJ 07305 Phone: (201) 434-8691 Fax: (201) 4345650 Premier Properties of New Brunswick Mr. Mitchell Broder 94 Bayard Street New Brunswick, NJ 08901 Phone: (732) 246-7048 Fax: (732) 246-7207
Associates Clean & Polish Building Solutions Mr. Joe Loffredo 127 Gaither Drive Mount Laurel, NJ 08054 Phone: (609) 484-0200 Fax: (856) 437-6006 Exterior Building Services FMC Call Center Mr. Steve Samuels P.O. Box 2272 Wayne, NJ 07474 Phone: (973) 908-0686 Fax: (973) 321-4141 Call Center
Law Offices of Chris Chiacchio Mr. Chris Chiacchio 1040 North Kings Highway, Suite 300 Cherry Hill, NJ 08034 Phone: (856) 482-1081 Fax: (856) 482-1875 Attorneys Minol USA Ms. Tammy Cragg 15280 Addison Road, Suite 100 Addison, TX 75001 Phone: (972) 386-6611 Fax: (877) 791-4775 Utility Submetering PPL EnergyPlus Mr. Aparicio Giddins 2 North Ninth Street Allentown, PA 18101 Phone: (610) 774-7630 Fax: (888) 648-2558 Energy Management, Purchasing & Consulting Rent A Husband Home Maintenance LLC Mr. Michael Sebecke 121 Reich Avenue Mahwah, NJ 07430 Phone: (201) 954-1448 Deck Waterproofing Star Installations, LLC. Mr. John Nicklin 3420 Route 66 Neptune, NJ 07753 Phone: (732) 643-5788 Fax: (732) 643-9961 Telecommunications
Total Fire Safety, LLC. Dave Markle 416 Frederick Street Easton, PA 18042 Phone: (610) 250-7551 Fax: (610) 250-7503 Fire Alarms, Fire Extinguishers & Fire Sprinklers Wallace Eannace Associates Mr. William Linder 779 Susquehanna Avenue Franklin Lakes, NJ 07417 Phone: (201) 891-9550 Fax: (201) 891-4298 Heating/HVAC
The New Jersey Apartment Association is proud to welcome its new members. If you know of anyone who might be interested in membership please contact NJAA at 732-9920600 and help strengthen your Association and the multi-family housing industry. Looking for a Vendor? Take a look at our Classified Directory in the printed Membership Directory or on our website. Vendors: You can purchase additional classified headings for $50 each. Contact us at 732-9920600 for more information.
Au g u s t 2 0 1 2 | A I M
15th Annual Children’s Holiday Party at the Meadowlands Expo Center This year we will be returning to the Meadowlands Expo Center for the 15th Annual Children’s Holiday Party. The Children’s Holiday Party is a tradition for the New Jersey Apartment Association of making a difference in the life of a child, if only for a day. Our goal is to bring gifts and a day of fun to 1,000 children. These kids need your help today! Let us know if you are able to: Host a Community or Office Toy Drive Volunteer at the event Sponsor the event Bring an unwrapped gift to the Garden State Awards and enter for a chance to win prizes!
Contact Damaris Zayas at events@njaa.com or 732-992-0606 for more information
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Member News
Member News HFF’s Jose Cruz Honored for Community Service to HASC Jose Cruz, senior managing director of Holliday Fenoglio Fowler LP’s New Jersey office was honored at the Hebrew Academy for Special Children’s (HASC) annual dinner in June. Cruz received the HASC Community Service Leadership Award. HFF’s Steven Klein of the company’s New York office was also be honored with HASC’s Humanitarian Award. Established in 1963, HASC provides educational and clinical services to individuals of all ages who exhibit developmental delays. The organization is a nonprofit, non-sectarian agency.
Energy Squared, LLC, Hillman Consulting, LLC and Kipcon Inc., Form Strategic Alliance Energy Squared, LLC, Hillman Consulting, LLC and Kipcon Inc. announced a strategic alliance to offer clients innovative comprehensive Energy, Environmental and Engineering solutions. By engaging clients at all levels of the design, construction and building life-cycle process, the alliance will drive new collective growth opportunities. The team of Energy Squared, Hillman Consulting and Kipcon, are poised to transition the traditional way businesses formulate their approach to engaging their engineering and environmental service needs. As part of the strategic alliance, Energy Squared, Hillman and Kipcon will increase their geographic basic offering energy, environmental and engineering services from 16 offices throughout the United States. 10
Christiana Foglio Chosen By Own It Ventures as a Leading Woman Entrepreneur, Business Owner Finalist Christiana Foglio, founder/owner and chief executive officer of Community Investment Strategies (CIS), Inc., has been named a 2012 Leading Woman Entrepreneur and Business Owner of New Jersey finalist. Own It Ventures, and New Jersey Monthly Magazine have partnered to commend women entrepreneurs for their service, leadership and contribution to their communities and the state’s economic recovery. The tribute includes a special section in the October 2012 issue of New Jersey Monthly Magazine. New Support Portal, Social Media Connections Highligh IBS Website Redsign A new proprietary support portal is among the highlights of Integrated Business Systems’ (IBS) redesigned corporate website, ibsre.com. The new website design introduces MyIBS, a proprietary client portal allowing IBS system and network services customers to create and monitor support tickets, and manage their company profile and contact information with a link from the ibsre.com home page. The new design also features enhanced social media connections. HD Supply Acquires Peachtree Business Products HD Supply Facilities Maintenance recently acquired Peachtree Business Products. Headquartered in Marietta,
Ga., Peachtree Business Products specializes in customizable business and property marketing supplies, serving residential and commercial property managers, medical facilities, schools and universities, churches and funeral homes. The purchase of Peachtree Business Products further strengthens HD Supply Facilities Maintenance’s leading national position by enhancing the depth and diversity of products and services for existing and new customers. It also aligns with HD Supply’s long-term, core leadership business growth strategy. Gebroe Hammer Associates Arranges $16.1 Million Sale of Dover Apartments in Toms River The Gebroe-Hammer Associates brokerage team of Joseph Brecher, executive vice president, and Sales Associate Steven Follman, brokered the $16.1 million sale of 110 units at Dover Chase. GebroeHammer exclusively represented the seller and procured the buyer, a long-term client who finalized a 1031 Exchange with the acquisition. Passing of Martin Adler NJAA and its membership were saddened by the passing of Martin “Marty” Adler of Rumson. Marty, a life director of NJAA, passed away peacefully on July 2, surrounded by his family, who loved him dearly. He was 89. Mr. Adler rose through the ranks of the Kislak Company, eventually becoming the President. Donations can be sent to the Rumson First Aid and Police Departments. n
Au g u s t 2 0 1 2 | A I M
Committee Corner
Committee Corner Legislative / PAC Committee The Legislative/PAC Committee is pleased to announce this year’s Ninth Annual NJAA PAC Reception will be on Wednesday, October 3, 7:00 – 9:00 PM, at Crestmont Country Club in West Orange (Essex County). NJAA PAC’s Annual Reception has become the premier policy and political event for anyone in multi-family real estate, be sure to mark the date on your calendar and plan to join us. Special guests include Senator Barbara Buono (D-Middlesex), Senator Steve Oroho (R-Sussex), and Patrick Murray, Director – The Polling Institute at Monmouth University. Moderator will be State House veteran reporter Michael Aron of NJTV. Many thanks to our generous PAC Host Committee members, including Michael Barry, William Dailey, Jonathan Gershen, Michael Goldberg, Michael Haydinger, Brent Kohere, Jeff Kurtz, Tom Kretsch, David Legow and Jeff Smith. Additional Host Committee members are always welcome. On September 7th, we be hosting the Government Affairs Breakfast for the second year. The breakfast will take place at the offices of Archer & Greiner in Haddonfield. This is a free event and is open to all NJAA members. If you’re interested in attending, keep an eye out for the registration form which will be included in future Friday Updates. Vendors Committee The Vendors Committee met on July 17th at The Crowne Plaza in Monroe to discuss associate memberships and shared their views on the 2012 Conference and Expo. The committee made recommendations to improve the Conference in 2013. They also discussed how to maximize associate A I M | Au g u s t 2 0 1 2
Your fellow members at work
member involvement through the conference, events and education. The committee will work on creating education sessions targeted toward the associate members. The committee will meet again in September. Programs & Education Committee The Programs & Education Committee met on July 11th at NJAA HQ to discuss this year’s educational programs. The committee reviewed this past May’s conference and expo education programs and discussed how to improve the education for next year’s conference including: providing education certification courses, and ways to increase attendance. They also reviewed proposals submitted by NJAA members and spoke about the upcoming education for the remainder of the year. Garden State Awards Committee The Garden State Awards Committee met on July 11th where they discussed the all new Winners of Excellence format, judging process and the Charitable Fund’s Holiday Toy Drive which will again be kicked off at this year’s Garden State Awards. The committee is scheduled to meet again later this summer to continue with their planning. Convention Committee The Convention Committee met on June 18th to discuss this year’s conference & expo. The committee reviewed surveys from the conference and discussed ways to improve it for next year including: providing education certification courses, ways to continue to increase attendance and making changes to the conference schedule. The committee will meet
again towards the end of the summer. See page X for a tentative 2013 conference schedule and be sure to Save the Dates! Charitable Fund Committee Short recap on Cocktails for a Cause Event. Please mark your calendars and plan on joining the NJAA Charitable Fund for our summer golf outing, which will be held at the beautiful Fiddler’s Elbow Country Club in Bedminster on September 10th. Lunch at 11am, shotgun start at 12pm, followed by the reception and awards presentation at 5pm. Sponsorship opportunities are still available. For more information contact us 732-992-0610. n
Join Us for World Class Training with Andrew Botieri of Total Peak Performance Customer Service: Saying No Without Saying No on August 14 - Northern, NJ (location TBD) & August 16 Souther, NJ (location TBD) and Team Building: Does Your Team Have What It Takes? on August 15 - Monroe, NJ Mark your calendars! The New Jersey Apartment Association is pleased to announce that Andrew Botieri of Total Peak Performance will be providing 3 days of educational programs focusing on Customer Service and Team Building. For more information please contact Jaclyn Olszewski at jaclyn@njaa.com or 732-992-0607. 11
I n d u s try Insights
Multifamily Will Remain at the Head of the Class by Gregory Haines The Provident Bank
W
hile the New Jersey commercial real estate market is often viewed as a sub-market of either New York or Philadelphia, it is a major market in its own right. And despite persistent economic uncertainty, the multifamily market in New Jersey, in particular, is very much alive – and remains the healthiest in the commercial real estate sector. Last year, multifamily emerged as the best performing commercial real estate property type, and we expect it to remain a leader in 2012. The shift from single-family home ownership to apartment rentals continues to make headlines, and vacancy rates have returned to the fourto-six percent level or less. Last year, we saw the end of rent concessions and stagnant rental rates. This year, rents are projected to increase by 2.3 percent compared to a 1.7 percent increase in 2011. The apartment market continues to improve as we become more like the European real estate market, where more people cannot afford or are unwilling to own a home. Younger individuals entering the workforce who are unable to save the money necessary for a large down payment required for a home purchase – coupled with their lack of faith in the economy – have also fueled the movement toward renting. Many others are choosing to rent due to the ongoing foreclosure flood and diminishing property values – they are not convinced home values have hit bottom and that it is “the time to buy.” Renters make up approximately one third of total U. S. households. Given the current economic environment and the shifting preference from home ownership toward renting, we can expect the number of renting households to continue to rise. In fact, the Census Bureau reported that through mid-2011, a net increase of 1.4 million households moved into rental housing. During this same 12
period, homeownership rates fell by more than 4 percent for those under 25, and by 7 percent for those ages 25 to 29. The pace of new multifamily construction plans has also significantly increased, even as the supply of available apartments grows. Today’s renter is looking for more luxury, amenities and close proximity to mass transit. There also is increased interest in urban development, which offers an attractive alternative to public transportation. With the multifamily market re-stabilizing, financing parameters have also changed. For example, there are less stringent underwriting requirements compared to two years ago. Capitalization rates have come down approximately 1 percent. Real estate investors are beginning to feel more confident in the economy, but don’t expect a sudden return to the “go-go” housing years prior to the economic meltdown. The “new normal,” continues to be slower, more cautious growth with continued vigilance in the financing of real estate. For example, more multifamily investors feel it is a safe place to invest their 1031 exchange capital in comparison to other types of real estate investments. The 1031 exchange allows owners to sell a property and buy another shortly thereafter to defer taxes on capital gains. This mechanism – though it has been available for many years – has only recently returned to favor with the strengthening of the multifamily market, which gives investors a safer investment in these economic times. A 1031 exchange requires the investor’s replacement property to be of equal or greater value or the investor will be taxed on the difference. These transactions are expected to continue. With the increasing values of multifamily properties versus other market segments, Au g u s t 2 0 1 2 | A I M
Industry Insights this leads the search for higher-value properties to multifamily projects. For those interested in multifamily properties, credit remains available for qualified borrowers. But like last year, borrowers will need to demonstrate to lenders how they have responded to the changing marketplace. Banks will continue to be more sensitive to the financial condition of a borrower’s entire real estate portfolio, and not just the economics of the subject property. Borrowers need to be realistic about their projections for income and expenses over the next few years. The world of real estate development management and financing will continue to present both challenges and opportunities. In this type of environment, community banks that offer local decision making and customized lending solutions offer potential borrowers an added advantage as they are familiar with the local economy. Over the long term, the multifamily market continues to be the most attractive from a lending standpoint. The steady cash flow resulting from stable rent and occupancy levels is more attractive in comparison to other real estate
Thank You to Our Charitable Fund Golf Outing Sponsors Dinner/Reception Sponsor Genova Burns Giantomasi & Webster Kriegman and Smith Lunch Sponsor Central Wholesalers Hole Sponsors Acadia Windows & Doors Click Pay Services, Inc. The Falcon Group SEBCO
properties. Investors and lenders have taken the safety approach and the multifamily market has shown its resilience and stability. As our nation continues to slowly climb out of the recession, lenders are excited to meet the unique needs of those in this real estate market. The ultimate driving force behind anticipated growth is unemployment trends. However, we expect lower vacancy rates and increasing rental rates resulting in strong cash flow to spark continued investment and lending activity. This year, multifamily will remain first in its class as the most desirable real estate investment. n Gregory Haines is first vice president of commercial real estate at The Provident Bank. He can be reached at (732) 726-5511 or Gregory.Haines@ProvidentNJ.com.
Multi-talented lenders... For multi-family financing. The current economy has everyone looking for ways to reduce costs. Refinancing your property can make a big difference. At The Provident Bank we make loan decisions locally. Why wait for someone in another state or time zone to review your application, process it and make their lending decision? Our commercial real estate specialists are right here where you are. We can build customized lending solutions to meet your needs and timeline. Custom solutions, local decision-making, quick turnaround – call us today and experience the Provident difference. For more information contact Patti Patriarca, SVP patricia.patriarca@providentnj.com 732.726.5516
Sponsorship Opportunities are still available! For more information contact Damaris Zayas at events@ njaa.com or 732-992-0606. See page 17 for a registration form. as of 7/23/12
A I M | Au g u s t 2 0 1 2
$8,000,000
Equal Opportunity Lender Equal Housing Lender Member FDIC
Multi-Family Complex Whitehall, PA
$11,500,000
Multi-Family Complex Princeton, NJ
$22,000,000
Multi-Family Complex Arlington, NJ
www.ProvidentNJ.com
13
R o a d to Success
When the Construction Stops, the Consternation Begins How online leasing technology can alleviate your anxiety about lease-ups by Philip Christian On-Site
Y
ou’ve just completed construction on a stunning new building—congratulations. Unfortunately the excitement of your grand opening turns to dread at the thought of leasing up those hundreds of vacant units as quickly as possible. However technological advancement has made lease-up anxiety a thing of the past.
The key to leasing success, especially lease-up success, then is to meet consumer demand and deliver a leasing experience that falls into this new paradigm. This means providing a 100% online solution, available 24/7 that allows renters to go from listing to lease in one seamless process.
Apartment All-stars representative and lease-up specialist Kate Good speaking at the 2012 Apartment Internet Marketing (AIM) Conference suggested that the task of leasing-up is one made easier through “technological empowerment at the site level.” And nothing is more technologically empowering to a leasing operation than the smart phone.
For example, some mobile applications provide leasing solutions that allow renters to pull out their smart phone and use it to: visit your community website, submit a guest card form, submit an online application, qualify instantly with screening on-demand and submit a holding deposit on their new apartment. Throughout this whole sequence data is shared seamlessly from one process to the next, which saves renters and leasing staff from having to re-key the same data into disparate systems over and over again.
The shifting consumer paradigm Wired magazine technology reporter and former Macworld associate editor Brian X. Chen writes in his 2011 book Always On: How the iPhone Unlocked the Anything-Anytime-Anywhere Future—and Locked Us In that the iPhone, and arguably smart phones in general, have “changed our standards for what we expect from technology, and as a result, businesses are being forced to give us more for our money.” Consumers “don’t want seven pieces of hardware to perform seven different tasks,” they expect “a single gadget capable of doing anything-anytime-anywhere.” Chen posits “if we have accessible data everywhere, then the way we learn in classrooms, treat medicine, fight crime, report the news,” and most significantly, “do business are all going to have to transform.” Meeting consumer demand Consider that renters are consumers of rental real estate.
14
When it comes time to sign the lease, the process can be completed through e-signature technology. Co-applicants and guarantors that might not be on the same schedule, or in the same time zone for that matter, can be brought together through an online signing ceremony that each signer completes at his or her convenience—again, using a smart phone. Without this level of automation, staff may spend all their time doing nothing but pushing paper and scheduling lease signings—and time is a precious commodity when racing to stabilize a new community. Integrations All this talk about a uniform leasing solution may lead you to believe that sourcing products all from one vendor is the only option; however, this isn’t necessarily the case. As we all know, it’s quite common in our industry to source individual products from the best of breed in each
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Road to Success category—websites, resident screening, lease documents, etc. Building a system of integrated products from assorted vendors can be quite successful; however, if you choose to go this route it’s important that the vendors you choose are willing to play nice with each other. Too often, the task of creating a uniform leasing solution is hampered by a series of poorly integrated products, all working independently of each other with little actual sharing of data between products. The clumsiness of an integration might not be an issue during normal business operations but the volume of deals done during a leaseup can be anywhere from 3 – 5 times those at a stabilized property. This number can be even greater for high profile projects in areas where vacancy levels tend to stay low, such as New Jersey’s Gold Coast. This kind of increased usage can expose flaws in slipshod integrations. Look for a company that partners with different apartment industry vendors, and is able to build reliable integrations.
rate of users accessing the Internet from a mobile device doubles every year and there are no signs of slowing down. Achieving lease-up success requires asset managers to implement a leasing solution that capitalizes on the popularity of smart phones in the hands of online, on the go renters. These renters should be able to search, apply, qualify and sign for a new apartment online, 24/7 all from their mobile devices. By melding leasing automation with online accessibility lease-ups practically fill themselves with qualified new renters. Which means that as long as you have the right technology in place, renters will beat a path to your virtual doorstep. n On-Site builds and supports software that makes apartment leasing simpler for renters and more profitable for owners. Contact Matt McKeaney, Frank Fico, Jen Sohenuik, or Steve Gabel for more information.
Recent tech innovations have caused renters to grow accustomed to the mobility and convenience afforded to them by their smart phones. Engadget.com reports that the
Energy Squared has obtained over $3 Million in Goverment Incentives for the Replacement of heating, cooling and lighting systems for
www.energysquaredllc.com | 800.828.4118
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Morgan Properties. We can do the same for you.
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NJAA Charitable Fund
WE BUILD IT. WE MANAGE IT. WE PAY YOU. NJAA Charitable Fund Raises Over $2,800 for The Food Bank of New Jersey On Thursday, July 19th, over 90 New Jersey Apartment Association (NJAA) members and friends attended the NJAA Charitable Fund’s Cocktails for a Cause, a fundraiser to benefit The Food Bank of New Jersey. The group raised over $2,800 from the $20 cover charge as well as additional donations by members at the event which took place at Miller’s Ale House in Mount Laurel. “Even though the economy is showing signs of recovery, there are still people in need,” said Jeff Smith, president of the NJAA Charitable Fund. “It is heartwarming to see our NJAA members react so generously when we request a call to action.” Cocktails for a Cause is one of many events the NJAA Charitable Fund hosts throughout the year providing NJAA members with an outlet to help their communities. Additional events include a charitable golf outing in September to raise money for the Fund’s scholarship program, and the Fund’s annual Children’s Holiday Party in December.
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Join Us for NJAA’s Charitable Fund Golf Outing Monday, September 10, 2012 at Fiddler’s Elbow Country Club 811 Rattlesnake Bridge Road, Bedminster
Register via njaa.com For more information contact Damaris Zayas at events@njaa.com or 732-992-0606 Golf - $380/person $1,520/foursome Cost of Golf includes Lunch & Dinner/Reception $75 may be tax deductible, please contact your tax professional
Lunch Only - $75 Dinner/Reception Only - $175
Event Day TImeline Registration 10:30am Lunch 11am to 12pm Shotgun Start 12:00pm Dinner/Reception 5:00pm
Register via njaa.com or fill out the form below and fax to (609) 860-0060 GOLFER REGISTRATION Player 1: Name ____________________________________ Player 2: Name ____________________________________ Player 3: Name ____________________________________ Player 4: Name ____________________________________
Company ____________________________________ Company ____________________________________ Company ____________________________________ Company ____________________________________
LUNCH ONLY Name ___________________________________________ Name ___________________________________________
Company ____________________________________ Company ____________________________________
RECEPTION ONLY Name ___________________________________________ Name ___________________________________________
Company ____________________________________ Company ____________________________________
PAYMENT INFORMATION Please make checks payable to NJAA Charitable Fund or authorize Credit Card payment as: o Visa o MasterCard o AMEX
Card Number ________________________________________________ Security Code___________ Exp_________ Cardholder Name ___________________________________ Company _____________________________________ Address _______________________________________ City_____________________ State ______ Zip _________ Phone _____________________________________ E-mail ______________________________________________ Signature ______________________________________ Date ____________ TOTAL AMOUNT $________________
photo by Paul Connors
New Communities The Klein Company Announces Opening of Dwell Luxury Apartments in Cherry Hill
The Dwell Lifestyle Inside Dwell Luxury Apartments, The Klein Company has carried out a vision for modern one- and two-bedroom apartment designs, ranging from 794 sq. ft. to 1,272 sq. ft. Floor plans maximize space, heighten vistas and celebrate openness. An artful balance of style and function, Dwell residences feature fine interior selections; designer kitchens with granite countertops and a spacious kitchen island; and in-residence washers and dryers for ultimate convenience. Throughout, high (9’) ceilings and large-scale (6’) windows afford abundant natural sunlight, fresh air and sweeping views of the community’s green spaces. Patios and balconies are offered with select residences, as are secureaccess private garages. On-site parking is available. That same attention to detail evident in the interior appointments extends to an exceptional level of amenities at Dwell. Common spaces include an opulent clubhouse and 24-hour health club and fitness center. Outdoors, Dwell features a beautifully landscaped swimming pool and sculpture garden, a playground area, and picnic groves outfitted with BBQ grills – perfect for relaxing or entertaining. Dwell is a pet-friendly property, and features a fenced dog park. Beyond upscale design and amenities, Dwell Luxury Apartments delivers a sustainable living environment for the most eco-conscious of renters. The community is Editor’s Note: Thank you to Donna Colbert of The Klein Company and Kimberly Hallman of Devine + Partners for sharing this story with NJAA.
registered for LEED for homes, and is outfitted with Energy Star® appliances and Low-E Argon windows. And, in a nod to the future of clean technology, Dwell features Level 2 electric car charging systems around the property perimeter. Welcome Home In the heart of Cherry Hill, along Route 70 East, Dwell residents will enjoy a vibrant social scene, ripe with activity, and convenient access to South Jersey’s best retail and restaurant offerings and corporate centers. The community is just minutes from world-class cultural and historic offerings in nearby Center City Philadelphia, and a short commute to Atlantic City and the Jersey shore points. Dwell Luxury Apartments is steps from NJ Transit, and sits on a major bus route. One-bedroom, two-bedroom and twobedroom-plus-den units are available. Rental rates start at $1,350 per month. For more information about Dwell Luxury Apartments, including a detailed list of features and floor plans, visit www.dwellcherryhill.com, or contact a Klein representative at (856) 596-5960.
photos by Francois Guignard
The Klein Company proudly introduces Dwell Luxury Apartments, a premier new rental community in the heart of Cherry Hill, opening to residents in August 2012. Dwell features 233 contemporary, one-and two-bedroom residences on a scenic 13-acre site, with high-end amenities and green attributes inside and out that make for an unparalleled rental lifestyle.
New Communities Hartz’s Osprey Cove Residential Development Completed in the Heart of the Meadowlands Osprey Cove, Hartz Mountain’s new luxury residential
The building’s name is a nod to the robust bird and wild life
building in Secaucus, which sits on the shore of the 13,000 acre
population in the Meadowlands, and highlights the attention
Meadowlands estuary preserve, opened this month.
to the surrounding ecosystem seen throughout the LEED® silver certified building made with recycled materials where
With views of the Hackensack River and only five miles from
possible, and featuring eco-friendly amenities such as an on-site
New York City, Osprey Cove is well ahead of its occupancy
recycling program, motion sensors on all lighting in common
projections, having pre-leased 46 of its 116 apartments.
hallways and elevators, and energy-efficient appliances in all
Comprised of studio, one and two-bedroom apartments ranging
units.
in price from $1,565 to $2,730, Osprey Cove’s generous floor plans run to 1,356 square feet with luxury finishes and features
Just steps from the building begins the urban oasis of the
that include 14-foot ceiling heights on the top floor.
surrounding Meadowlands which have undergone an ecological recovery spearheaded by Hartz Mountain’s chairman
The 45 Meadowland Parkway site was originally developed by
and CEO, Leonard Stern which includes the newly renovated
Hartz Mountain as a theater and later converted to an outlet
and named, Osprey Park, which is adjacent to the building, and
center before ground broke for Osprey Cove in 2010. “This
the waterfront at Laurel Hill park where residents can enjoy
is the fourth generation of luxury housing on Meadowlands
pontoon boat tours and kayaking.
Parkway, beginning with our development of the Harmon Cove Tower and Townhouses in the 1980s,” says Emanuel
Natural beauty and modern conveniences coexist in harmony in
Stern, president and COO of Hartz Mountain Industries.
Secaucus which offers nearby grocery stores, a farmers market,
“The location called for us to set a new standard as the other
great shopping, dining options from around the world and
developments on Meadowland Parkway have, and the reaction
entertainment that includes MetLife Stadium which can be seen
from our pre-opening traffic tells us we’ve achieved this goal.”
from some units.
The personal living spaces, consisting of nine studio, 50 one-
The Harmon Meadow Shuttle to the train station, and easy
bedroom, 50 two-bedroom and seven two bedroom with den
access to the major arteries including the New Jersey Turnpike,
apartments, were made with the finest materials including
makes it a convenient option for those commuting to the city or
bamboo floors, upgraded, stainless steel appliances and
other parts of New Jersey.
beautiful finishes in the kitchens and bathrooms, and boast soaring nine-foot ceilings on the first three floors and 14-foot
According to the management team, people are already moving
ceilings on the fourth floor.
in and they are ahead of schedule for leasing the remainder of the building. For more information about Osprey Cove please
Amenities include a resident club room equipped with a pool
call (973) 218-2300 or visit www.ospreycoveapartments.com.
table and high definition televisions, complimentary Wi-Fi access throughout the building with two computers available in the lobby, a 24-hour state-of-the-art fitness center with Lifestyle equipment, on-site and nearby parking for residents and guests, and a building management team by Roseland Management Company.
Editor’s Note: Thank you to Marjorie Kaplan of Axiom Communications for sharing this story with NJAA.
New Communities AvalonBay Celebrates Grand Opening of Avalon at Wesmont Station AvalonBay Communities, Inc. celebrated the official opening of Avalon at Wesmont Station on June 19, 2012. The development is AvalonBay’s sixteenth luxury apartment community in New Jersey, and serves as the cornerstone of a larger “new-urbanist” community named Wesmont Station, for which New Jersey-based real estate development company Somerset Development is the master developer. Avalon Wesmont Station is located in the heart of Somerset Development’s award-winning Wesmont Station mixed-use transit-oriented development. In addition to AvalonBay’s development, future development phases at Wesmont Station will include the construction of single-family homes and townhomes.
including a five-level structured parking garage, detached freestanding garages, and surface parking. The buildings’ ground floors have approximately 27,000 square feet of retail space for the shopping convenience of residents. Avalon Wesmont Station’s location along the New Jersey Transit Bergen County line, just three stops from New York City’s Penn Station, makes for a swift 30 minute commute to Manhattan. Until the station is completed (expected in late 2013) the nearby station of Garfield, located approximately one mile from the community, will provide easy access to New York. Avalon Wesmont Station is also adjacent to major highways such as Routes 17, 46, 80 and 3, gateways to New York, the Jersey Shore and beyond.
The entire Wesmont Station community will be pedestrianfriendly, as all of the buildings and the new train station will be within easy walking distance. The development’s dynamic lifestyle offering will be further enhanced by the creation of walking trails and bike paths throughout the community.
The Avalon community boasts an array of first-class amenities, including a spacious, fully equipped clubhouse, state of the art fitness center, a magnificent outdoor pool and pool deck area with grilling areas and a fire pit, and a convenient surrounding five-story parking garage. Residents will also have a variety of parking options, Editor’s Note: Thank you to Nancy Atkinson of AvalonBay Communities for sharing this story with NJAA.
photos by Alan Shindler
Avalon Wesmont Station has 406 apartment homes in four luxury four-story buildings. The buildings are a mix of one, two and three bedroom apartment homes in two distinct finishes: classic and contemporary. There are also 50 “urban hipster units” featuring shallow units, strip kitchens, sleeping alcoves, track lighting, and in kitchen recycling areas.
New Communities Ironstate Development & KRE Group Break Ground on 18 Park in Downtown Jersey City Jersey City, NJ Mayor Jerramiah T. Healy joined development
Residents of 18 Park will have access to 230 parking spaces in a
partners Ironstate Development Company (formerly Applied
covered, enclosed parking deck. An exciting array of amenities
Development Company) and Kushner Real Estate Group and
will include a contemporary lobby with a massive fish tank
officials from the Boys & Girls Clubs of Hudson County to
water element, full-service fitness center, outdoor swimming
break ground on a new multi-faceted project comprising a 422-
pool, landscaped outdoor deck with planted green garden
unit luxury rental building and a new state-of-the-art facility
roof, billiards room, children’s playroom, catering kitchen and
for The Boys & Girls Clubs of Hudson County. Designed in
dining space, Wi-Fi lounge, television screening section and
collaboration between HWKN Architects and Minno & Wasko
private storage space. On-site porters and handy-men will
Architects, 18 Park will feature an architecturally-distinctive
be available to attend to residents’ needs 24 hours a day. In
11-story building with a collection of spacious residences and
addition to a convenient network of transportation links, 18
a full suite of upscale amenities. Occupying the same building
Park’s location will also afford residents easy access to an array
but with a separate entrance and address, the new Boys & Girls
of shops, restaurants and parks within its neighboring Paulus
Clubs of Hudson County will feature approximately 34,000
Hook neighborhood.
square feet of modern classroom and recreational space. Housed in the 18 Park building but independently accessed The project is rising adjacent to the Liberty Harbor North
and operated, the Boys & Girls Clubs of Hudson County will
Light Rail Station near PATH and ferry service to Manhattan
provide a safe haven of programs for boys and girls from
within the Liberty Harbor Redevelopment District, an 80-acre,
throughout Jersey City and will include high-tech classroom
28-block neighborhood that is already home to more than
spaces, room for arts and music programs, a spectacular
1,000 new condominium and rental residences, including 225
gymnasium with a floor-to-ceiling glass wall, and a modern
Grand, a 348-unit rental building also developed by Ironstate
lobby entrance. The new space will replace the Boys & Girls
and Kushner Real Estate Group which was completed in 2010
Clubs’ current facility, which was built in 1912 as a storage
and leased up in less than ten months. The Partnership expects
facility and retrofitted in 1984 by the organization, and has since
to complete 18 Park in the fall of 2014, and has retained The
become outdated, inefficient and costly to maintain.
Marketing Directors, Inc. to market and lease the residences. The Boys & Girls Clubs of Hudson County is also expected to open at the same time. 18 Park has been carefully designed to meet LEED certification standards as well as Feng Shui certification principles set forth by Feng Shui Manhattan. The building will encompass 550,000 square feet of residential space and 10,500 square feet of ground-level retail space. A collection of studio-, one- and twobedroom residences will be offered, with select homes featuring a balcony or terrace with sweeping views of the Hudson River, Statue of Liberty, Ellis Island and downtown Manhattan. Several residences will be built “townhome style,” with direct access from the street.
Editor’s Note: Thank you to George Cahn and Daniel Burns of Cahn Communications for sharing this story with NJAA.
From Left: Gary Greenberg, Executive Director of the Boys & Girls Clubs of Hudson County; Jeff Persky, Executive Vice President of Kushner Real Estate Group; David Barry, President of Ironstate Development Company; Michael Barry, President of Ironstate Holdings; Jersey City Mayor Jerramiah T. Healy; Murray Kushner, Chairman of Kushner Real Estate Group; and Peter Brennan, Jersey City Council President.
New Communities Garden State’s First Silver Leed-Certified Apartment Project Opens in Manahawkin Stafford Preserve is making a splash at the Jersey Shore as the state’s first Silver-LEED certified apartment community opens this summer. The eco-friendly community welcomes its first residents in August, according to the developer, Walters Group. Situated just minutes from Garden State Parkway Exit 63, the first three buildings of Stafford Preserve, comprised of 36 eco-friendly units, are 100 percent leased. When completed, the 216-unit community will be comprised of 18 three-story buildings in a mix of one- and twobedroom apartments, some with lofts, and two-bedroom townhouses. The apartments offer one- and two-story floor plans, ranging in size from 933 to 1,333 square feet. Rents range from $1,195 to $1,675 per month. Walters Group is currently renting for future occupancy with a choice of five apartment layouts, depending on availability. Prospective residents can tour two newly opened models—a two-bedroom, 2 ½- bath townhome, and a one-bedroom 2-bath unit with a loft. The striking exterior design and exquisite landscaping compliment the community’s long list of amenities. In addition to a clubhouse that features a common area, residents can enjoy a fitness facility, outdoor saltwater pool, video game room, tot-lot playground, tennis and basketball courts, picnic pavilion, one-mile walking trail and barbeque area. Additionally, six parking garages per building with direct access to the buildings will be offered to residents on a first-come, first-served basis. Management is on-site seven days a week and the maintenance team is available 24 hours a day for emergencies. The stylish apartments feature island kitchens, recessed lighting, hardwood floors, master suites with walk-in
closets, and come equipped with washers and dryers. Every unit also boasts fully-equipped kitchens with granite counter tops, window coverings, and ceiling fans in the master bedroom. Stafford Preserve, owned and managed by Walters Group, has a pet policy that applies to every resident. There are designated pet buildings. There is a two-pet limit, and the total weight must be no more than 50 pounds. The required pet fee is a one-time non-refundable $300 and $50 per month per pet. As part of the green construction movement, Walters Group designed Stafford Preserve to meet both Silver LEED (Leadership in Energy and Environmental Design) and Energy Star certifications. Stafford Preserve offers a healthier living environment for residents with features such as, energy-efficient windows, high levels of insulation and low-flow water systems. In addition, highly efficient Energy Star heating and cooling systems, sealed ductwork, and programmable thermostats lessen energy consumption, reducing costs. As a result, the apartments will be more energy efficient, saving residents up to 34%44% on their annual energy costs. Stafford Preserve is situated on 28 wooded acres, and within walking distance to Stafford Park shopping center, which is home to a variety of retailers and restaurants. The community’s close proximity to the Garden State Parkway and Route 9 corridor makes Stafford Preserve a great place for people who commute north to work but want to live close to Long Beach Island. The leasing center is located at 101 Campbell Blvd, Manahawkin, just off Exit 63 of the Garden State Parkway. For more information, visit www.spreserve.com or call (609) 978-8005.
Editor’s Note: Thank you to Evelyn Weiss Francisco of Caryl Communications for sharing this story with NJAA.
South Jersey Government Affairs Breakfast Friday, September 7, 2012 Haddonfield, NJ Join us on September 7th for an NJAA-member only South Jersey Government Affairs Breakfast, to be held at the offices of Archer & Greiner, P.C., in Haddonfield, NJ, and hear the latest legislative, political, regulatory and legal news from the State House. The panel includes:
John Cranmer, Archer & Greiner, P.C.
Conor Fennessy, NJAA’s VP - Government Affairs
Nicholas Kikis, NJAA’s Director of Regulatory Affairs & Research 8:30am Continental Breakfast 9:00am to 11:00am Panel Discussion Price: Free for NJAA Members Open only to NJAA Members (A $25 cancellation fee will be issued for no show attendees)
RSVP by faxing this form to (609) 860-0060 or emailing it to jaclyn@njaa.com. Name __________________________________________________________________________ Company _______________________________________________________________________ Phone Number __________________________________________________________________ Email __________________________________________________________________________ New Jersey Apartment Association HQ · 104 Interchange Plaza, Suite 201 · Monroe Township, NJ 08831 · Phone (732) 992-0600 · Fax (609) 860-0060
Renovations
Experience is the Difference
Highlight Your Properties in AIM
Professional Services Include:
NJAA is looking for stories and photos on Renovations of member properties.
s s s s s s s s s
Let us help you showcase your most successful projects in the September issue of AIM magazine (materials deadline: August 8).
!RCHITECTURE "ALCONY 2ESTORATION $ESIGN 3PECIlCATIONS "UILDING %NVELOPE #ONSULTING 3PECIlCATIONS "UILDING &AÂ¥ADE )NSPECTIONS 3PECIlCATIONS #APITAL 2ESERVE !NALYSIS $UE $ILIGENCE %VALUATIONS %)&3 3TUCCO )NVESTIGATIONS 3PECIlCATIONS %NERGY #ONSULTING %XPERT 2EPORTS
(OME 7ARRANTY )NSURANCE #LAIM %XPERTS -ECHANICAL %LECTRICAL 0LUMBING %NGINEERING -OISTURE )NVESTIGATIONS -OLD 4ESTING 0ARKING 'ARAGE )NVESTIGATION $ESIGN 2ETAINING 7ALL $ESIGN 2OOF 2EPLACEMENT 3PECS 2EGISTERED 2OOF #ONSULTANT 3ITE $RAINAGE !NALYSIS $ESIGN 7INDOW 2EPLACEMENT 3PECIlCATIONS
Experience our commitment.
September 2011 - Renovations
4(% &!,#/. '2/50
UPCOMING EVENTS 8th Annual PAC Reception - October 4 Garden State Awards - October 20
September 2011
s s s s s s s s
Children’s Holiday Party - December 12
&ALCON %NGINEERING &ALCON !RCHITECTURE &ALCON %NERGY #ONSULTANTS WWW FALCONENGINEERING COM s INFO FALCONENGINEERING COM Professional Engineers, Licensed Architects, Inspectors and Reserve Specialists
682 Highway 202/206 North, Bridgewater, NJ 08807 0HONE s &AX
TRANSFORMING OUR COMMUNITIES Renovation Highlight
Proud Members of the NJAA NJ Clean Energy Program Partner ‘Pay for Performance’
NJAA Sub-metering Measure Approved Energy Efficiency Measures for Multifamily Compliance - Renovation, Repair & Painting NJ Multifamily Market Continues to Perform Well
®
Contact Christine Haber by e-mail to christine@njaa.com or 732-992-0603 for details. NJAA 2008 Color Ad-AIM.qxp:Layout 1
&IVE .ESHAMINY )NTERPLEX 3UITE 4REVOSE 0! 0HONE &AX
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Au g u s t 2 0 1 2 | A I M
2012
NJAA DIAMOND SPONSORS
ELIAS B. COHEN & ASSOCIATES INSURANCE AGENTS n BROKERS n CONSULTANTS
Thank You
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Celebrate Your Properties and Staff at NJAA’s 19th Annual Garden State Awards of Excellence Recognition Dinner Thursday, October 18, 2012 Hyatt Regency New Brunswick
Each year, NJAA’s Garden State Awards celebration recognizes the successes and accomplishments of our members and the professionalism of the companies they work for. In its 19th year, the Garden State Awards celebration continues to gather over 550 of the best and the brightest in the industry making it truly a memorable event! New this year, we will not just be recognizing one winner per category but rather celebrating overall excellence. In some instances, more than one winner will receive an Award of Excellence in various Property Management and Associate Member categories. Excitement is in the air the night of the event, and this year we expect it to be even more palpable. All of our finalists will be celebrated throughout the evening’s festivities, so be sure to join us in congratulating them for their achievements. A Dinner and Awards ceremony will immediately follow the cocktail reception where the Winners of Excellence will be announced and asked to join us on stage to accept their Garden State Award. We can’t wait for this event and look forward to seeing you there!
Sponsorship Opportunities Are Still Available! Signature Event Sponsor (limit 4) $5,000 • Signage at the Awards Dinner including your company logo on screen • Ten (10) complimentary tickets to the Awards Dinner for your clients and or staff • Premier seating at the Awards Dinner • Signage including your company logo displayed at registration • Recognition in the printed Awards Program (deadline Oct. 1) • “Signature Sponsor” ribbons on your event name badge • Company name recognition on NJAA Website • Acknowledgement in AIM magazine (pre-awards, deadline Aug. 8) (post-awards, deadline Oct. 10) Cocktail Reception Sponsor (limit 4) $1,000 Value Companies, Inc. • Company name or logo printed on the drink tickets • Company name or logo printed on the cocktail napkins used during cocktail hour • Two (2) complimentary tickets to the Awards Dinner for your clients and or staff • Recognition at bars and table tops during Reception (deadline for name Oct. 8) • Signage including your company name or logo displayed at registration • Recognition in the printed Awards Program (deadline Oct. 1) • “Event Sponsor” ribbons on your event name badge • Company name recognition on NJAA Website • Acknowledgement in AIM magazine (pre-awards, deadline Aug. 8) (post-awards, deadline Oct. 10)
Centerpiece Sponsor (limit 6) $500 Central Wholesalers, Griffin Alexander, P.C. • Company name displayed within the centerpiece at each table • Signage including your company name or logo displayed at registration • Recognition in the printed Awards Program (deadline Oct. 1) • “Event Sponsor” ribbons on your event name badge • Company name recognition on NJAA Website • Acknowledgement in AIM magazine (pre-awards, deadline Aug. 8) (post-awards, deadline Oct. 10) For more information please contact Damaris Zayas at events@njaa.com or 732-992-0606.
photos by Larry Falkow, The Apts (2011)
Photo Booth or Photo Backdrop Sponsor (limit 1 each) $1,000 • Company logo or name to be printed on either keepsake photo (photos provided to attendees during event) or photo backdrop. • Signage including your company name or logo displayed near the Photo Booth or Photo Backdrop area during the Cocktail Reception • Recognition in the printed Awards Program (deadline Oct. 1) • “Event Sponsor” ribbons on your event name badge • Company name recognition on NJAA Website • Acknowledgement in AIM magazine (pre-awards, deadline Aug. 8) (post-awards, deadline Oct. 10)
19th Annual Garden State Awards of Excellence Recognition Dinner
Registration Information:
• Your name badge will reflect your entrée selection. If an entrée is not indicated on the registration form, the chicken entrée will be ordered for you.
Thursday, October 18, 2012 Hyatt Regency New Brunswick
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• Tables are assigned on a first come first served basis. Parties with less than 12 people will be seated with other attendees. No changes can be made to the seating arrangements at the event.
Cocktail Reception: 5:30pm n Dinner & Awards: 7:00pm
Registration Form
$160.00 per person n $135.00 per person before September 21* Cut-off date: Wednesday, October 10th
• Bring an unwrapped new toy to the event and receive a raffle ticket for one of many gift baskets. The toys will be distributed at the NJAA Children’s Holiday Party. • This event is open to NJAA members in good standing only. • Mail completed registration and payment to: NJAA Attn: Damaris Zayas 104 Interchange Plaza, Suite 201 Monroe Township, NJ 08831
Contact: Name: ___________________________________________________________________ Company: _______________________________________________________________ Telephone: _________________________ E-Mail: ______________________________ Registrations: (Attendee name and property/company will be listed on badge as indicated below) Name: _________________________________________________________________ Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________
or fax to: (609) 860-0060
Property: ________________________________________________________________
• Contact Damaris at (732) 992-0606 or at events@njaa.com with questions regarding registrations.
Entree:
Registration Cancellation Policy
Property: ________________________________________________________________
All cancellation requests must be in writing and sent to Damaris Zayas. Cancellations made prior to September 21 will be refunded minus a $25 processing fee per attendee. Cancellations made between September 22 and October 10 will be less the $25 late fee and the $25 processing fee per attendee. Refunds will not be issued after 5:00pm on October 10 for any reason. Substitutions can be made at any time.
*Registrations must be paid by
September 21 to receive the early bird rate. Registrations received or paid after September 21 will be $160. All registrations received after September 21 must be paid in full by October 10 or you may forfeit your registration. Payment Information
o Visa o MasterCard o AmEx o Check Enclosed
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________
Name: __________________________ Card # __________________________ Exp Date ________ Sec Code _______ Total $___________________________ Signature _______________________
Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Property: ________________________________________________________________ Entree:
o Chicken
o Vegetarian
o Kosher
Name: _________________________________________________________________ Property: ________________________________________________________________
For NJAA Only: ID: _______________ Payment: _____________ Reg #: ____________ Table #: ______________ C#: _________ V#: _________ K#:_________
Entree:
o Chicken
o Vegetarian
o Kosher
T o o l s of the Trade
Making Dollars and Sense The Top Two Apartment Trends to Really Consider by Mike Zapata P.C. Richard & Son
I
n today’s competitive market place, it is very important to enhance the overall resident’s experience to improve procurement and retention. Since the Real Estate Market Crash of 2008, there has been an increasing trend towards rental housing and multifamily rental markets tipping in favor of property owners. The 2012 forecast for the apartment rental markets is expected to see vacancy rates drop. A couple of key factors include a considerable reduction in supply and that the number of displaced former homeowners looking for rental apartments has been increasing to record levels. This forecast is very bright and promising for the multifamily industry. Two of the latest trends in the rental market industry according to the Remodelers Council are in-unit laundry systems reflecting tenants demand for convenience, and Stainless Steel Appliances, an easy choice to provide the luxury appeal without the tremendous capital outlay. These products are being factored into the plans of development of new rental housing projects at a faster pace than ever before. Here is a breakdown of options to consider if you are a property manager, owner, or developer looking to enhance your products marketability. In-Unit Laundry For many years coin operated laundry has been a staple for the multifamily industry. Over the past number of years this equipment has been going through a technological evolution. These systems are handled by professional suppliers and manufacturers who specialize in multifamily housing laundry equipment, revenue share and equipment leasing. Here are some other options to consider. A few good choices for In-Unit laundry are as follows: 28
Whirlpool Front Load Stackable Model WFC7500VW - 24”w Stackable Front Load Washer. The washer is paired with Model WED7500VW 24”w Vented Electric 240 Volt Dryer
Condensing Electric Laundry Here is where you can save money on costly duct work. These laundry systems drain the evaporated moisture from the dryer down the water waste line which has been converted back to water, excluding the need for any duct work. An effective system especially for new construction projects where cost containment is paramount. A good choice for condensing electric is the Bosch system, whereby the washer is plugged into the dryer eliminating the need for two separate outlets, an elimination of another costly electrical installation expense. Since Bosch introduced their front-loading models in Europe over 50 years ago, their washers and dryers have steadily been advancing and improving. Bosch Laundry Model WAS20160UC - 24”w Compact Front Load Laundry The washer is paired with Model WTE86300US - 24”w Compact Electric Condensation 220 Volt Dryer
Also in this category, is an interesting niche product that can give you one of the least costly ways to provide in-unit laundry to residents, a helpful convenient way to wash continued on page 30 Au g u s t 2 0 1 2 | A I M
Member Discount
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Chris Canlas, VP, ext. 215 Chris Carola, AVP, ext. 217
101 Years Strong. Oritani Bank has been offering superior personalized service and banking products since 1911. We continue to provide consumers and businesses in the tri-state area with peace-of-mind banking from a rock-solid, well-capitalized community bank.
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Corporate Office: 370 Pascack Road, Township of Washington, NJ 07676 • (201) 664-5400 Oritani Bank and its agency are not responsible for typographical errors. ©Oritani Bank 2012. Member FDIC. OTB007_NJAA_JuneLendingAd_071012.indd 1
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7/10/12 1:01 PM
T o o l s of the Trade continued from page 28 Making Dollars and Sense
small loads, the washer dryer combo.
LG Condensing Laundry Model WAS20160UC - 24”w All-in-One Compact Front Load Washer Condensing Dryer Combo 110 volt
All-in-One Unitized Vented Gas and Electric Laundry Systems (24” & 27” Wide) These laundry systems represent the majority of multifamily market sales and are available in a variety of options. Whirlpool Laundry has a high reputation for laundry systems with competitive pricing and availability of product. Although keep in mind that GE is a strong option and Frigidaire is busy designing and producing a more efficient version due out in the near future. Whirlpool Laundry Model WET3300XQ - 27” W Full Size Washer and 220 Volt Vented Electric Dryer Combo Also comes in the Gas version: Model WGT3300XQ – 27” W Full Size Washer and Gas Vented Electric Dryer Combo In small restricted spaces, you can opt to use the 24” wide vented unitized laundry systems that packs a powerful punch! Stainless Steel Appliances Stainless Steel appliances have been coming down in price for a few years now. They make an excellent option for your kitchen when you wish to upgrade and capture that very valuable increase in rent, without the tremendous expense. One important fact to note is that the off-white colors: almond, bisque, and biscuit have been going the way of the dinosaur. In part because they have become antiquated colors by designers and interfere with the more popular and current color schemes affecting factory scheduling and production. Inventory and availability are a real issue. The main three appliance colors are white, black and stainless steel. Stainless steel is considered very stylish among the three and is consistently in high consideration 30
by residents who are willing to pay higher rents for the perceived luxury value of having stainless steel appliances in their home. You are considered not only a luxury apartment rental, but a premium luxury rental when you decide to use or upgrade to stainless steel appliances. In this category there are a number of options to take into consideration when deciding on your appliance suite. Obviously, refrigeration, cooking, and dishwashing come in a variety of fit and finishes, but to keep it simple here is an effective suite to consider: Model FFHT1826LS/K – 18 Cu Ft Frost Free Refrigerator 29 5/8”W
Model FFGF3053LS – 30”W Self Clean Gas Range or Model FFEF3050LS - 30”W Self Clean Electric Range
Model FFBD2411NS – 24”W 5 Level Energy Star Dishwasher
Model FFMV164LS – 30”W Over-the-Range Microwave Hood If you are building a property with an “A” quality or above, your consideration should extend into a more built-in look. This would include a slide in range, a counter depth refrigerator, an integrated dishwasher and an over the range microwave. The latest trend in refrigeration is the french door style. This would really bring your apartment into the Premium Luxury category with a lot of market appeal. At this level you are truly making dollars and sense! n Mike Zapata has 20 years of experience helping builders and management firms in the multifamily industry. He covers New Jersey and Eastern PA for the PC Richard & Son Builders Division and can be reached at mike.zapata@pcrichard.com.
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Designated Striver? Designated Striver? Enhance your professional growth in the apartment industry by becoming a Certified Apartment Maintenance Technician (CAMT) and take your career to the next level. CAMT training helps you to preserve the value of your apartment community Enhance yourresident professional growth in the apartment industry by and increase retention. becoming a Certified Apartment Maintenance Technician (CAMT) and Apartment take your career to the next level. CAMT training The National Association Education Institute helps you to preserve the value of your apartment community (NAAEI) offers “blended learning”, integrating online and increase with resident retention.study and is a combination of coursework in-classroom Non-Technical and Technical courses, specifically designed for The National Apartmentprofessionals Association Education apartment maintenance to meet theInstitute needs of (NAAEI) offers “blended learning”, integrating online today’s apartment residents. coursework with in-classroom study and is a combination of Non-Technical Technical courses, specifically designed for Non-Technicaland Online Courses: apartment maintenance professionals to meet the needs of • Inside the Apartment Business today’s apartment residents. • People, Projects and Profits Non-Technical Online Courses: Technical Courses: • Inside Apartment Business Interiorthe and Exterior Maintenance • People, Projects and Profits Electrical Maintenance and Repair • Plumbing Maintenance and Repair Courses: and Repair Technical • HVAC Maintenance • Interior andMaintenance Exterior Maintenance Appliance and Repair • Electrical Maintenance and Repair already a Success.and Become •You’re Plumbing Maintenance Repaira Certified Success. •Learn HVAC Maintenance more about howand youRepair can earn your designation. • Appliance Maintenance and Repair Visit www.naahq.org or www.ApartmentCareerHQ.org
You’re already a Success. Become a Certified Success. Learn more about how you can earn your designation.
Visit www.naahq.org or www.ApartmentCareerHQ.org
A designation for apartment maintenance professionals. Register today2012 for 2010 Certified Apartment (CAMT) classes All modules for NJAA’s CAMT will be held at NJAAMaintenance Headquarters Technician in Monroe Township, unless otherwise
CAMT Training is comprised of 12 modules. 10 technical modulesBlvd., consisting hands-on classroom training online practice NAAdiscounted Education Institute │ 4300 Wilson Suiteof 400, Arlington, VASavings) 22203 and noted. The CAMT series fee for all 10 modules is $800 for members ($200 and $1,000 for A designation for apartment maintenance professionals. scenarios as well as two non-technical modules consisting of online training and practice scenarios. Our 2010 CAMT Module 703/248-9570 │ 703/248-8370 FAX │ education@naahq.org non-members. For each CAMT the costI & is II $100 for21 NJAA and $15011 for Schedule is as follows: March 16 & module 17 – Basicfee Appliance , April & 22 –members Electric I & II, May & non-members. 13 – HVAC I & II,A continental breakfast and lunch for both days isMaintenance included. For more information to register,classes please contact June 8 & 9 –Register Plumbing I & II, July 21 – Interior/Exterior I & II. Sessions are held @orThe Courtyards, Edgewater Park. today for 2010 Certified Apartment Maintenance Technician (CAMT) Series Cost: $800isfor members/ $1,000 forOlszewski non-members. Module Cost: $100 per module for member/training $150 per module for nonJaclyn at jaclyn@njaa.com or 732-992-0607. CAMT Training comprised of 12 modules. 10 technical modules consisting of hands-on classroom and online practice NAA Education Institute │ 4300 Wilson Blvd., Suite 400, Arlington, VA 22203 members (continental breakfast and lunch consisting included). ofCompletion of alland modules is required NAA certification. scenarios as well as two non-technical modules online training practice scenarios.for Our 2010 CAMT Module 703/248-9570 │ 703/248-8370 FAX │ education@naahq.org Heating, Ventilation & Air Conditioning (HVAC) I & II (2 Modules) September 5 6 For registration information contact Melissa Vaccariello at Melissa@njaa.com or (732)-992-0604. Schedule is as follows: March 16 & 17 – Basic Appliance I & II , April 21 & 22 – Electric I & II, May 11 & 13 –&HVAC I & II,
Presented by July Mike21Bondurant, Air Experts (courtesy Home Depot), June 8 & 9 – Plumbing I & II, – Interior/Exterior Maintenance I &ofII.theSessions are heldNJAA @ The Headquarters Courtyards, Edgewater Park. Series Cost: $800 for members/ $1,000 for non-members. Module Cost: $100 per module for member/ $150 per module for nonInterior & Exterior I & II (2 of Modules) - November 15 NAA certification. members (continental breakfast and lunchMaintenance included). Completion all modules is required for Presented by Todd Sajewicz, Home Depot HQ South Plainfield For registration information contact Melissa Vaccariello at Melissa@njaa.com or (732)-992-0604.
Special Guests at the 9th Annual PAC Reception Senator Barbara Buono (D - Middlesex) Barbara Buono was elected to the New Jersey State Senate in 2001 and was re-elected in 2003, 2007, and 2011 to represent the 18th Legislative District. She previously served as a Metuchen Councilwoman and served as a member of the General Assembly for seven years after winning a special election in December 1994. Senator Buono currently serves as Vice Chair of the Legislative Oversight Committee, and also serves on both the Health, Human Services, & Senior Citizens Committee, and State Government, Wagering, Tourism & Historic Preservation Committee. Up until January 2010, she was the first woman to chair the Senate Budget and Appropriations Committee. Senator Buono then became New Jersey’s first woman to serve as Senate Majority Leader until January 2012. During her tenure in the Legislature, she has established a reputation as a consensus-builder during the state’s challenging fiscal times. Senator Buono authored New Jersey’s School Funding Reform Act which ensures that every child will receive a quality education. In addition she was a prime sponsor of the Paid Family Leave Act and the Global Warming Response Act, mandating the reduction of greenhouse gas emission. Senator Buono received her law degree from Rutgers University. She began her career as a criminal trial attorney for the NJ State Department of the Public Advocate and later entered private practice. She is married, has four children, and two stepdaughters.
Senator Steven V. Oroho (R - Sussex, Warren & Morris) Senator Steven Oroho is currently serving his second term in the New Jersey State Senate. He represents the 24th Legislative District in the northwestern part of the state which comprises all of Sussex County, and parts of Warren and Morris Counties. Senator Oroho first ran for public office in 2001 winning a seat on the Franklin Borough Council, a position he held until 2006. He moved up to the Sussex County Freeholder Board in 2005 and was elected to the State Senate in 2007. He was reelected to the Senate in 2011. In the State Senate, Senator Oroho is a member of both the Senate Budget & Appropriations Committee and the Economic Growth Committee. He was also appointed by to serve on the Governor’s Red Tape Review Commission. In addition, he sits on the NJ Commission on Capital Budgeting & Planning, as well as the NJ Unemployment Insurance Task Force. Senator Oroho was recently honored as the Legislator of the Year by the New Jersey Chamber of Commerce and New Jersey Apartment Association. Senator Oroho, who was born in 1958, attended St. Francis University in Pennsylvania where he earned a bachelor’s degree in accounting. He has extensive professional experience in the finance departments of several top New York firms. The Senator is married and the father of five children. He resides in Franklin Borough, Sussex County.
Patrick Murray – Director, Monmouth University Polling Institute Patrick Murray was named the founding director of the Monmouth University Polling Institute in 2005. In that short time, the Monmouth University Poll has established itself as one of the nation’s premier independent survey research centers. The Monmouth University/New Jersey Press Media Poll has established itself as the Garden State’s “poll of record” for its in-depth tracking of public policy and quality of life issues. The Institute has also conducted polling in seven other states. In 2010, PolitickerNJ.com named Mr. Murray “Pollster of the Year” and he has appeared on their New Jersey Power List of the 100 most politically influential people in the state for the past two years. Mr. Murray frequently appears as a media commentator on state and regional TV and radio, and has been interviewed on national programs, such as CNN’s The Situation Room and ABC’s Good Morning America. Mr. Murray has nearly 20 years experience directing public policy research projects, including prior affiliations with the Eagleton-Rutgers Poll and the Bloustein School at Rutgers University.
Michael Aron – Chief Political Correspondent, NJTV Michael Aron has been a journalist since 1970, starting at Seattle Magazine, then West Magazine, Harper’s Magazine, Rolling Stone, and New Jersey Monthly. He started at NJN in 1982 and has won a number of broadcast awards, including a Mid-Atlantic Emmy Award. Aron has interviewed every New Jersey governor, state Supreme Court chief justice, and legislative leader during his tenure, plus a number of presidential candidates. He has covered national political conventions, trade missions abroad, and all the major political issues of the state.
Save the Date 9th Annual NJAA PAC Reception Wednesday, October 3, 2012 7:00 to 9:00 PM Crestmont Country Club, West Orange Special Guests: SENATOR BARBARA BUONO Vice Chair – Legislative Oversight Committee (D – Middlesex)
SENATOR STEVEN V. OROHO Member – Permanent Red Tape Review Commission (R- Sussex, Warren & Morris)
PATRICK MURRAY Director – The Polling Institute Monmouth University Moderator
MICHAEL ARON Chief Political Correspondent NJTV – Public Media NJ Host Committee Michael Barry, Applied Property Company Brent Kohere, Home Properties William Dailey, CIS Management Inc. Tom Kretsch, Segal & Segal Jonathan Gershen, The Gershen Group Jeff Kurtz, The Kamson Corporation Michael Goldberg, Goldberg Realty Associates David Legow, Legow Management Michael Haydinger, First Montgomery Jeff Smith, Kriegman & Smith Host Committee in formation Paid for by NJAA PAC
THANK YOU TO OUR 2012 PAC CONTRIBUTORS Deposited as of July 18, 2012
Matthew Adler Adler Residential $1,000
Andrew Goldberg RestoreCore $1,500
Scott Machlovitz Hilton Realty $1,000
Lynne Aber Bertram Associates $1,000
Michael W. Goldberg Goldberg Realty Associates $1,000
Michael O’Dea Hekemian & Company, Inc. $1,000
The Barry Family Applied Development Co. $10,000
Michael C. Haydinger First Montgomery Group $1,000
Marshall A. Rosen Solomon Organization $1,000
Michael J. Beirne The Kamson Corporation $1,000
George Jacobs JK Management, LLC $1,000
Steve Rudolph AFR Furniture Rental $1,000
Vincent C. Comperatore Comperatore Associates, Inc. $1,000
Paul Kaliades Renters Legal Liability $1,000
Jeffrey Sands Hilton Realty $4,000
George D. Cowden Multi-Housing Depot By ARI $1,000
Brent Kohere Home Properties $1,000
David A. Siegel Coinmach Corporation $1,000
John D. Cranmer, Esq. Archer & Greiner, P.C. $1,000
Thomas Kretsch Segal & Segal $1,000
Jeffrey Smith Kriegman & Smith, Inc. $1,000
William Dailey CIS Management, Inc. $1,000
Richard Kurtz, & Jeff Kurtz The Kamson Corporation $9,000
Joseph Spadaccini The Kamson Corporation $1,000
William Diggs Renaissance Equity, LLC $1,000
The Legow Family Legow Management Company $27,000 Largest Family Contribution in 2012
Larry Stein Appliance Brokers, LTD $1,000
Larry Falkow The Apts $1,000 First PAC Contributor in 2012 Jonathan S. Gershen, Esq. The Gershen Group, LLC $1,000
Jack R. Linefsky Value Companies $1,000 Jerome J. Lombardo C.J. Lombardo Company $2,000
Stephen Waters Morgan Properties $1,000 John Zoetjes American Architectural Window & Door $1,500
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Ad Directory
Advertisers Please take a look at the following members who support NJAA with their advertisement in this issue of AIM. 16
Bargold Storage Systems
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Columbia Bank
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Energy Squared
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The Falcon Group
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Feinstein, Raiss, Kelin & Booker
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Fowler Companies
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Griffin Alexander, P.C.
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Jacobson, Goldfarb & Scott
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Kipcon
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Manhattan Welding Company, Inc.
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Mitchell Supreme
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NAA Lease Program
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Oritani Bank
Back Cover
P.C. Richard & Son
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The Provident Bank
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Members of Congress Need to Hear From You When They’re Home in August Now is your opportunity to inform your members of Congress how their actions affect your business and the apartment industry. They will be home during the congressional recess from Aug. 4 to Sept. 9 and want to hear from their constituents. Don’t delay in getting on their calendars. Ask to meet them in their district offices. Invite them to tour your apartment community. Offer your club house for one of their town hall meetings. The resources you need for scheduling your meetings can be found in the Congressional Recess Toolkit at http://bit.ly/oCVdZj Please let Carole Roper know if you plan to schedule meetings. She can be reached at Carole@naahq.org or 703/797-0616. Your engagement with your members of Congress is critical to the industry’s advocacy efforts. Please do all you can to stand up for multifamily housing and make your voices heard.
Au g u s t 2 0 1 2 | A I M
2012 - 2013 NJAA Education and Event Calendar AUG U S T
NOVEMBER
14 $69
World Class Customer Service: Saying No Without Saying No by Andrew Botieri, Total Peak Performance North Jersey, Location TBD
15 $69
Team Building: Does Your Team Have What it Takes? by Andrew Botieri, Total Peak Performance
16 $69
World Class Customer Service: Saying No Without Saying No by Andrew Botieri, Total Peak Performance South Jersey, Location TBD
7-8 $375/member
15 CAMT Interior/Exterior $800/series by Todd Sajewicz, The Home Depot $100/module South Plainfield
DECEMBER TBD
SEPT E M B E R 5-6 CAMT HVAC $800/series by Mike Bondurant, Air Experts $100/module (courtesy of the Home Depot)
J A N U A RY
South Jersey Government Affairs Breakfast Archer & Greiner Offices, Haddonfield
23 $145
10 $380
NJAA Charitable Fund Golf Outing Fiddler’s Elbow Country Club, Bedminster
MARCH
19-21 $995 (2 parts)
Socializing Your Community by Apartments.com CAM Slam (Certified Apartment Manager) Part 1
OCT O B E R 3 FREE
Board of Directors Meeting Crestmont Country Club, West Orange
NJAA Charitable Fund Annual Children’s Holiday Party Meadowlands Expo Center, Secaucus
2013
7 FREE
12 FREE
NALP (National Apartment Leasing Professional) by Brenda Richard, Kriegman & Smith
6 FREE 12 competitor $80 spectator $50
Annual Meeting & New Member Reception Imperia on Easton, Somerset early bird rate $120 before 12/31/12
Online Marketing by Apartments.com 5th Annual Maintenance Mania NJ Convention & Expo Center, Edison
M AY 20 $175 20-22 Multi
NJAA Charitable Fund Golf Outing Ballamor Golf Club, Egg Harbor Township 24th Annual Conference & Expo AC Convention Center, Atlantic City
3 $500
9th Annual NJAA PAC Reception Crestmont Country Club, West Orange
18 $160
Garden State Awards Hyatt Regency, New Brunswick early bird rate $135 before 9/14/12
CAMT - Electric (2 modules) by Mike Goldberg, RestoreCore 20-22 registration will include access to Conference $100/module Expo Floor (Tuesday/Wednesday) and After Hours Party (Tuesday evening)
CAM Slam (Certified Apartment Manager) Part 2
JUNE
23-25 $995 (2 parts)
Unless otherwise noted, all sessions are held at NJAA Headquarters. For more information and non-member rates contact us at 732-992-0600 or visit the Events Calendar at njaa.com.
25 FREE
Online Marketing by Apartments.com
SEPTEMBER 19 FREE
Online Marketing by Apartments.com
Planning a Meeting Can be a Difficult Task Selecting a Convenient Site Should Be Easy When you are planning an educational session for your staff or a meeting of professionals, why not use NJAA’s centrally located and technologically outfitted education and conference rooms?
NJAA is conveniently located right off the Turnpike at exit 8A making it easily accessible to all areas of the state. Our rooms are well equipped to meet your technology needs and our staff will help make your meeting run smoothly. We also offer breakfast and lunch options, at significant discounts from hotel or conference center rates.
Our education room holds up to 40 attendees classroom style and up to 50 lecture style. Our Board Conference room will supply you with privacy and can hold 10 participants in a comfortable setting. As a member of NJAA, rental fees are $250 for the education room and $150 for the Conference room. Rental fees for non-members are $400 and $300 respectively.
Please contact us at 732-992-0600 to reserve your meeting room today.
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104 Interchange Plaza, Suite 201 Monroe Township, NJ 08831
the MAJOR APPLIANCE ‘GIANT’
AMERICA’S LARGEST WHOLESALE APPLIANCE DISTRIBUTOR For OVER 100 years P.C. Richard & Son has been providing the building industry with unbeatable service, integrity and reliability.
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Builders@PCRichard.com Fax# 1.800.479.0336 150 PRICE PARKWAY FARMINGDALE, NY 11735