News

  • Available in the spring (2009). Developers Madison-Poss & Associates are moving fast-forward on one of the most exciting ideas to come to the city. The Lofts at 425 New will feature one-bedroom, one-bath lofts with 10-ft ceilings, balconies, designer lighting, attached garages, plenty of security, and many more features that will appeal to individuals and couples. Lofts will be affordably leased, making them a great choice for college students and others who enjoy downtown living. Get on the waiting list early! Log on to www.lofts425.com for more detailed information.

  • Madison-Poss Downtown Development Projects Presented to Macon City Council
    http://www.macon.com/198/story/399798.htmlhttp://www.13wmaz.com/apps/pbcs.dll/article?AID=/200807081609/NEWS01/80708021
  • Proposed Madison-Poss Development Highlighted in The Macon Telegraph
    http://www.macon.com/102/story/359079.html -Updated 5/23/2008-
  • The May 2008 issue of Apartment Finance magazine projects a thriving market for multifamily development over the next five to ten years. Some of the reasons for optimism include the following:
    • Over the past seven years the industry has added 100,000 new market-rate units annually, while demand for the next five years is projected to be 400,000 units annually.
    • The constrained supply-driven by NIMBYism and high land and construction costs-should translate to national rent increases of 3 to 3.5 percent, and a national occupancy rate of 94 percent in 2008.
    • 5.5 million echo boomers are expected to enter the rental market over the next five years, with immagration accounting for another 12 million increase in population out 2015.
  • According to the National Association of Realtors, multifamily demand remained strong through the first quarter of 2008. Despite downturns in other markets (retail, office, single-family residential), multifamily continues to perform well exhibiting the following characteristics:
    • Multifamily housing is attracting risk-averse institutional investors. Of the record $98.6 billion spent in this sector last year, 40 percent of acquisitions were from institutional investors such as pension funds and life insurance companies. Private investors were equally active, accounting for another 40 percent of transactions.
    • Many potential first-time home buyers continue to rent, placing downward pressure on vacancy rates and upward pressure on rents.
    • Multifamily vacancy rates should average 4.8 percent in the fourth quarter 2008, down from 5.1 percent in the fourth quarter of 2007. Average rent is seen to rise 5.3 percent in 2008, up from a 3.1 percent increase in 2007.
    • Multifamily net absorption is estimated at 245,800 units in 59 tracked metro areas in 2008, up from 234,400 last year.
    • The current national vacancy rate is 4.7 percent, below the 5.0 percent level which is considered landlord’s market.
  • Madison-Poss recently announced plans to develop and build The Lofts on Cherry Street, which will consist of twenty-nine units of townhouse and loft apartments in the historic district of downtown Macon Georgia. Construction is scheduled to start during the Fall of 2008, with units available for rent by Spring 2009.