Jefferson Beautification Honors 1st Lake Properties

Jefferson Beautification Inc. celebrated its 20th anniversary of Parkway Promenade early this fall and honored 1st Lake Properties for 20 years of service and sponsorship.

Jefferson Beautification, Inc. (JBI) is a non-profit organization formed in 1990 to provide funding for, and promote through education and public awareness, beautification projects on public green spaces in Jefferson Parish. JBI has completed community beautification projects totaling over $1,600,000. These projects are completed in cooperation with government entities, businesses, individuals, civic groups, garden clubs, schools and other non-profit organizations. There have been over 2000 volunteers involved in these projects.

1st Lake Properties Inc. has been a steady contributor to JBI projects especially in areas such as Kenner, Metairie, and River Ridge as these areas are also home to majority of the total 65 apartment locations they offer. 1st Lake Properties plans to continue to help make “Jefferson Parish more beautiful.”

For more information about this organization and projects, visit www.JeffersonBeautification.org.

1st Lake In Top 35 Best Places To Work In New Orleans

1st Lake Properties was recently honored as one of New Orleans City Business’ Best Places to work!

To determine which companies would receive this award, City Business used a scoring system which was based on benefits provided by the nominated Employer including salary, health care, paid time off and average length of employment. Also, employees of the nominated companies were asked to be surveyed in order for City Business to gauge the “workplace culture” for the final cut.

Companies included in the top 50 Best Places to Work, 15 in the small company category and 35 in the large, also received accolades for “going above and beyond company benefits” to offer other “intangible perks, such as team-building and morale-boosting programs, receptive executives and fun office activities.”

1st Lake Properties was a newcomer to this honor, along with 13 other companies, with only one company, Zehnder, making the list every year since 2003. Upon making the New Orleans City Business Best Places to Work list, three interviews were scheduled with 1st Lake team members. All spoke about the opportunity for growth, education, and teamwork within the 1st Lake Properties corporate culture. Of the 330 employees, nearly 10% have been with the company over 15 years with the average length of employment at 12 years.

“1st Lake Properties take pride in landscaping the property and updating exteriors and interiors.” said one 1st Lake Properties General Manager.  That is really reflective of the whole operation. People have come together at 1st Lake Properties to successfully run an apartment community…not just for the owners, but for the customers.”

The full list of winners will be released in the New Orleans City Business December 16, 2011 issue, along with photographs and company bios.

The Newest Must Have Address On The New Orleans Northshore

1st Lake Properties is opening a brand new apartment community on the Northshore this fall! Brewster Commons will be located in River Chase, which is a new and upcoming subdivision of Covington. Brewster Commons will feature all the comfort and luxury you’ve come to know and expect from 1st Lake Properties to the Northshore! There will be multiple floorplans available for reservation at Brewster Commons, including 1, 2, and 3 bedroom luxury apartment homes with garages that feature extra large doors and carports as well.

Brewster Commons will feature 240 apartment homes, with pre-leasing beginning on-site in July! Once you pre-lease your new apartment home, expect to make it your own in the Fall of 2011. Located in beautiful Covington at 16309 East Brewster Road, behind Target, off of I-12 at River Chase, Brewster Commons will feature many amenities that will make you feel right at home! Once you drive through the private gated entrance, the modern conveniences and stylish accompaniments will let you know you’ve come to the right place.

All interiors of Brewster Commons will include the very latest in energy saving appliances to keep your bills low and efficiency at its peak. These appliances include full size washers and dryers, self cleaning ovens, microwaves, and refrigerators with ice makers! Beyond the functionality and energy savings you can expect in your kitchen, the beauty that accompanies it will be quite impressive. You and your guests will dine on granite countertops and wood finish flooring, with stainless appliances. Outside of the kitchen, the apartment homes at Brewster Commons will have coordinated color schemes and wood faux blinds to accentuate your new living space. Personal Intrusion Alarm systems will also be in your apartment home at Brewster Commons.

Beyond the comfort of your new home, you will find many ways to unwind available to you on-site at Brewster Commons. Relax after a hard day’s work at the pool, which is equipped with a bubbling hot tub and a tanning deck for your convenience. If you’d rather unwind with a nice workout, the Brewster Commons fitness center will include the latest in gym equipment, complete with treadmills, ellipticals, excersise bikes, and a Catalina gym! Outside of the rental center’s work-out facility, there will also be a fully functional Wii and yoga room as well as a mail room. As with all 1st Lake Properties, you will also have the ease of on-site management and maintenance.

The Northshore just got a little cozier! Brewster Commons, opening this fall, will be a great place to live, work, and play. Lush landscaping, a relaxing pool, fitness and entertainment centers, modern design and appliances! You can follow the development of this exciting new community and pre-reserve your new Brewster Commons apartment home by contacting the property toll free at: 1-855-257-BREW. Give Brewster Commons a call today, and find your new home on the beautiful Northshore!

Rental Trends U S Apartment Vacancies Declining

Figures from the US’s largest cities indicate that rental property vacancies across the nation are on the decline. According to real estate analysis firm Reis Inc., the vacancy rate in the US fell nearly two percent from the first quarter of 2010.

“Rental activity during the winter season is typically slow because consumers prefer to avoid apartment hunting and moving in chilly weather. But landlords filled 44,000 more units than were vacant in the first quarter, the strongest first quarter in a decade,” reported Dawn Wotapka of The Wall Street Journal.

This decline can be attributed to a number of factors such as:

  • Increased confidence in domestic economic conditions
  • Improving job markets
  • Decreased activity on the part of prospective home buyers

Another explanation may relate to an increasing number of foreclosures. The Wall Street Journal reported in April 2011 last month that major lenders such as Fannie Mae have been facing growing foreclosure numbers for the last several years, noting that the lender acquired 232 properties due to foreclosures in 2010.

“Unemployment of close to 9 percent and a surge in home foreclosures have pushed many people to rent, driving a rebound in multifamily properties during the past year. Construction of apartments has climbed from a 50-year low on expectations that rents will increase and more people will seek to lease,” wrote Hui-yong Yu for Bloomberg.

Certainly this market activity has had a weighty impact on renters. As the demand for apartments climbs, renters will see a corresponding increase in monthly rates and a decrease renter perks such as decreased fees and price incentives.

According to an April 6th Reuters news report, the apartment rental vacancy rate in New York City is the lowest in the US at less than three percent. Not surprisingly, the city also boasts the highest average rental rate at just under $2,800 a month. The highest vacancy rate in the nation, according to the same report, is in Memphis, Tennessee, where there is an 11 percent vacancy rate and tenants can expect to pay an average rent of roughly $600 a month.

Angels Place

1st Lake Properties, Inc. partners annually in charitable organizations in order to raise money and awareness about such organizations as well as offer a avenue to contribute. Organizations include United Way, Susan Komen, American Heart Association, Angel’s Place and many others.

This year, 1st Lake Properties will work in partnership with the Apartment Association of Greater New Orleans to sponsor a Holiday Toy Collection for the Angels’ Place children and their families throughout the month of December.

Angels’ Place is a nonprofit organization providing respite and hospice care for children and their families. Founded over 15 years ago by Anita Gilford, a registered nurse, Angel’s Place serves over 110 families throughout the Greater New Orleans area.

Aside from the Holiday Toy Drive, 1st Lake Properties sponsors an annual collection to provide school supplies for Angels’ Place families; helping parents better prepare students for the high cost of preparing for the new school.

1st Lake Properties will be collecting toys on Friday December 3, 2010 in the front of Palmetto Creek Apartments at 5101 Citrus Boulevard in Elmwood across from the Joe Yenni Office building. You can drop off a toy or donation. For more information contact Palmetto Creek at 504-733-7256.

For more information on Angel’s Place mission and activities visit their web site at angelsplacenola.org.

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