Multi-Housing News - January 2009 - (Page 6)

It’s Back to Basics for 2009 Branding and Community Take Priority in a Down Economy A recent invitation to attend my first Hot Tuna concert provided an interesting look at social networking and branding. For anyone who doesn’t know, Hot Tuna is a hard-working American blues-rock band, formed by bassist Jack Casady and guitarist Jorma Kaukonen as a spin-off of Jefferson Airplane. The audience was comprised largely of Baby Boomers but I also saw some Gen X and Gen Y fans. Certainly the strong sense of community I picked up on had to do with a shared appreciation for the tunes, but it was reinforced by the fact that quite a few concert goers were either thinking about signing up for a weekend of music lessons taught personally by the legendary duo at their ranch in rural Ohio, or are going back for more soon. In addition to creating another revenue stream (besides music downloads and merchandise on the website), this model encourages lots of repeat business, strengthens the idea of community and reinforces branding. Community has always been key to the multi-housing lifestyle, whether residents are running into each other in the laundry room, the elevator, or walking the dog. But smart properties are providing additional opportunities for mixing—especially when appealing to the Baby Boomer or Gen Y audiences. Both demographics are reportedly seeking multi-housing settings with ample opportunities for socializing around shared interests. Walkable neighborhoods are an excellent way to bring various demographics together. In this issue we feature two case studies (“Development & Design,” page 16) that illustrate how walkable neighborhoods can be integrated into urban infill settings or built new. In addition to 874 residential units, The Pier at Town Lake, in Tempe, Ariz., will provide a series of walkways, streets, and structures that evoke community. A pier extending into the lake and promenade will provide a place for residents and visitors to stroll, dine and mingle. In Oakland, the Uptown apartments is an integral part of a 14-acre urban and pedestrian district in the Uptown Oakland Development Zone. Also in this first issue of the new year MHN’s Executive Editor Keat Foong talks to three of the industry’s top economists (“Forecast 2009,” page 10). Their outlooks are surprisingly optimistic, with one prediction calling for a recovery in the second half of 2009 (if aided by the fiscal stimulus that the Obama administration and new Congress are expected to push for). Another called for the housing slump to end this year, when new home soles bottom and flatten. However, apartment vacancies have begun to be adversely affected by unemployment. The vacancy rate for professionally managed apartments tracked by MP/F YieldStar was 6.2 percent through the third quarter of 2008. And apartment market conditions may continue to be soft in 2010 even when the economy improves. Take a page from Hot Tuna. Build brand loyalty by knowing your audience, connecting through live and virtual networking, and delivering your best every time. They’ll keep coming back for more. On behalf of the MHN team, I wish you a terrific 2009. MULTI-HOUSING NEWS MHN GROUP PUBLISHER & SHOW DIRECTOR Daniel J. Corcoran daniel.corcoran@nielsen.com ASSOCIATE PUBLISHER Natasha Selhi natasha.selhi@nielsen.com ADVERTISING REPRESENTATIVES Associate Publisher: West, Mountain and Southern States Natasha Selhi natasha.selhi@nielsen.com Account Executive: Northeast and Midwest States Douglas Runner douglas.runner@nielsen.com 856-415-0301/fax: 856-415-0302 Director of Digital & Live Events: Jason J. Wafalosky Multi-Housing World/Multi-Housing News jason.wafalosky@nielsen.com 484-624-5510 CLASSIFIED & GALLERY ADS Account Executive: Fatima Ruiz fatima.ruiz@nielsen.com 646-654-5763/fax: 646-792-7108 MARKETING DIRECTOR Kevin Marty kevin.marty@nielsen.com 516-682-6149/fax: 516-682-6166 ONLINE PUBLICATIONS www.multi-housingnews.com MHN Daily Newsletter MHN Property Management MHN Green Building & Design MHN Finance & Investment EXHIBIT BOOTH SALES & SPONSORSHIPS Jason J. Wafalosky jason.wafalosky@nielsen.com 484-624-5510 Multi-Housing World Expo & Conference REPRINTS The YGS Group Mike Shober 800-290-5460 ext. 129 MHN@theYGSgroup.com EXECUTIVE EDITOR Keat Foong keat.foong@nielsen.com MANAGING EDITOR Teresa O’Dea Hein teresa.hein@nielsen.com EDITOR-IN-CHIEF Diana Mosher diana.mosher@nielsen.com CREATIVE DIRECTOR Jonathan Marsland jonathan.marsland@nielsen.com ART DIRECTOR Michelle Matteson michelle.matteson@nielsen.com ASSOCIATE EDITOR Erika Schnitzer erika.schnitzer@nielsen.com CONTRIBUTING EDITORS Christopher Hosford Michael Russo Lisa Iannucci ONLINE NEWS EDITOR Anuradha Kher anuradha.kher@nielsen.com MHN BLOG Erin Brereton www.multi-housingnews.com/blog Jack Kern jkern80124@gmail.com PRODUCTION MANAGER Jean Loesch jean.loesch@nielsen.com CIRCULATION Omeda nmhn@omeda.com 800-697-8859/fax: 847-291-4816 LIST RENTALS Nikki Miller 646-654-7261 nikki.miller@nielsen.com Diana Mosher Editor-in-Chief President: Greg Farrar • Senior VP, Human Resources: Michael Alicea • Senior VP, Marketing: Mark Hosbein • Senior VP, Finance: Derek Irwin • Senior VP, Entertainment: Gerry Byrne • Senior VP, Marketing, Media & Visual Arts: Sabrina Crow • Senior VP, Retail: David Loechner • Senior VP, Online: Linda McCutcheon • Senior VP, Building & Design: Joe Randall • Senior VP, Central Services: Mary Kay Sustek • VP, Licensing: Howard Appelbaum • VP, Manufacturing & Distribution: Jennifer Grego • VP, Audience Marketing: Joanne Wheatley We invite you to share your comments with our readers. Diana Mosher can be reached at diana.mosher@nielsen.com 6 January 2009 | Multi-Housing News | Official Publication of Multi-Housing World http://www.multi-housingnews.com http://www.multi-housingnews.com/blog

Table of Contents for the Digital Edition of Multi-Housing News - January 2009

Multi-Housing News - January 2009
Contents
From the Editor
Market Pulse
Executive Insight
Economic Forecast 2009: The Year Ahead
Apartment Market Outlook
Development & Design: Walkable Neighborhoods
Property Management: Handling Risk in a New Age
Directory: Top Brokers
Kitchen & Bath: Rehabs
Products: Noise Control
Technology: Property Management Software
Property Showcase: St. Regis, Bal Harbour

Multi-Housing News - January 2009