The latest twist on designer parking garages: a Jetsonesque elevator that whisks residents to their condos while they are still in the driver’s seat.

Pull over into the designated space. Turn off the engine. And enjoy the oceanfront view as you escalate in a glass elevator that takes you, while you are sitting in your car, to the front door of your apartment.

No, this is not the latest Disney ride.

The $560 million Jetsonesque tower will rise in Sunny Isles Beach as part of a collaboration between Germany-based Porsche Design Group and a local developer, Gil Dezer. It likely will be the world’s first condominium complex with elevators that will take residents directly to their units while they are sitting in their cars.

“You don’t have to leave your car until you are in front of your apartment,” said Juergen Gessler, CEO of Porsche Design Group.

Here is how it will work: After the resident pulls over and switches off the engine, a robotic arm that works much like an automatic plank will scoop up the car and put it into the elevator. Once at the desired floor, the same robotic arm will park the car, leaving the resident nearly in front of his front door. Voila, home!

The glass elevators will give residents and their guests unparalleled views of the city or of the ocean during their high-speed ride, expected to last 45 to 90 seconds.

“What this is really doing is taking two technologies that have existed for centuries and putting them together,” said Gil Dezer, president of Dezer Properties. “It’s taking the robotic arm and it’s putting it in an elevator.”

The building, to named Porsche Design Tower, was approved unanimously Thursday night by the Sunny Isles Beach City Commission. Before the meeting, Mayor Norman S. Edelcup said he had not heard any opposition to the plan.

The cylindrical building will be erected on 2.2 acres of land at 18555 Collins Avenue. The 57-story luxury tower will have 132 units. Smaller units will be allocated two parking spaces and larger ones will have four, with 284 robotic parking spaces in total. There will be three elevators.

Residents will be able to see their cars from their living rooms.

“So people with fancy cars and antiques, they will actually have a really nice view of them,’’ Dezer said.

Units will range from 3,800 to 9,500 square feet and could cost up to $9 million.

The car elevators are the latest twist on Miami Beach’s burgeoning passion for designer parking garages. The highly acclaimed 1111 Lincoln Road designed by Swiss architects Herzog & de Meuron opened in 2009; also planned are garages by London architect Zaha Hadid, Mexico’s Enrique Norten and Miami’s own Arquitechonica.

Dezer said his hopes are that many other buildings in the United States and the rest of the world will be constructed following the Porsche Design Tower model.

But this will be the first and last one in South Florida, he said.

“We want to keep this really exclusive and not have this become a McDonald’s kind of style. The tower is going to change the skyline of Miami Beach,” Dezer said. “This is something Floridians should be proud to have in their state.”

First, always make sure that you check tenant references. This can be a burdensome step and many landlords overlook it because they feel as though they have good instinct when they meet with the tenant. But not checking references can lead to a number of problems later on. You will uncover a wealth of information about potential problems before you rent to a prospective tenant.

Second, make sure you have everything in writing. This is to protect your rights as a landlord as well as the rights of your tenants. Everything from the code of conduct you expect your tenants to abide by while renting your property to the rental application itself must be in writing.

Third, you will find that you have better success with your rental property if you take the time to ensure that it is both secure and clean. The grounds of the property should be free of litter and trimmed regularly. Not only will the property be more visually appealing but these actions will also assist you with property liability. You will also want to take additional security measures. Extra security may be able to lower your insurance premiums as well as provide an incentive to quality tenants to rent your property when they know it is secure.

If you decide to hire a property manager, take the time to interview prospective candidates very carefully. Property managers can be very helpful if you don't have the time to manage the property yourself. This is especially true if your property is a long distance away from you. The wrong property manager can cause you problems with poor tenant screening and delayed lease up times. This means that you will need to hire a thoroughly responsible and professional individual to handle the job. Always ask for referrals.

Always make sure that you obtain adequate insurance. Not only should you have property insurance but you should also have liability insurance. One incident is all it takes to wipe out your investment. Also check with your state to determine if any additional insurance coverage is required.

Regardless of the condition the property was in when you purchased it, there will come a time when repairs are needed. This is part and parcel of owning rental property. If you take too long to make repairs, not only will your property suffer and repairs will ultimately cost more to take care of but you will also likely lose quality tenants as well. By making sure you handle repairs promptly you will be able to maintain the life of your property as well as retain good tenants.

Always make sure that you follow all applicable regulations in the renting of your investment property. The Fair Housing Administration Act provides precise regulations in order to prevent discrimination. If you violate those regulations you could find yourself facing a lawsuit that is costly in terms of time as well as money. The best course of action is to take the time to do your homework and consult an attorney experienced in real estate matters for guidance regarding the FHA as well as ensuring that you have the proper forms. Good property managers will already be versed in these regulations.

Finally, make sure that you do not violate the privacy of your tenants. Check with your state's regulations to find out whether you must provide any type of notice to your tenant before you enter the dwelling.

Following these guidelines will help you to retain good quality tenants and avoid any potential legal problems. After all, happy tenants make for happy landlords!

Jasper-based Indiana Furniture Industries Inc. says it will expand operations and create up to 10 jobs by 2015. The company, which is more than 100 years old, says it needs new machine operators and engineers.

Jasper, Ind. -- Indiana Furniture Industries, Inc., a manufacturer and distributor of office furniture, announced plans today to expand its operations here, creating up to 10 new high-wage jobs by 2015. The company will add a 30,000 square-foot addition to one of its existing manufacturing facilities as part of the project. The new addition is slated to be operational by the end of 2012.

"With more than a hundred years of experience in the Hoosier State, Indiana Furniture is continually setting the standard for sustained growth in an ever-changing market," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Our nationally-ranked business climate and expansive infrastructure are helping local businesses establish a successful foundation to bring more jobs to Indiana."

Indiana Furniture, which currently has 287 full-time employees in Indiana, plans to begin hiring additional technical machine operators and engineers to coincide with facility construction. Interested candidates should apply at www.indianafurniture.com.

"With our long heritage in the Jasper community, coupled with our Midwest values, it's easy to call Dubois County our home," said Bret Ackerman, president and chief executive officer of Indiana Furniture. "To gain a competitive advantage in this industry, we've recognized that we need to embrace innovation in technology and processes. Therefore we plan on considerable capital expenditures over the next several years."

Founded in 1905, the company was established as Jasper Novelty Works in part as a response to the efforts of the Jasper Business Men's Association's initiative to provide local employment opportunities. Indiana Furniture's ultraviolet finishing technology was awarded the GREENGUARD certification for indoor air quality in 2008 by the Greenguard Environmental Institute for the company's non-toxic curing process.

The Indiana Economic Development Corporation offered Indiana Furniture Industries, Inc. up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Jasper approved additional property tax abatement.

"It's particularly gratifying that our new property tax abatement program's first recipient is an existing company," said Jim Dinkle, president of the Dubois County Area Development Corporation. "Indiana Furniture is a century-old company with deep roots in Dubois County."

Indiana Furniture's announcement comes one month after AFCO Racing Products, a manufacturer of parts for the racing industry, announced plans to grow its operations in nearby Warrick County. The company will invest $3.7 million to purchase and equip a new retail facility in Boonville, creating up to 61 new jobs by 2014.

About Indiana Furniture
Indiana Furniture, headquartered in Jasper, Ind. for over a century is committed to providing its customers with office furnishings of the highest standards in quality and craftsmanship. Through advance information systems and state of the art technology we deliver a wide range of environmentally conscious products, styles, and sizes at competitive prices.

About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

Source: Indiana Economic Development Corporation http://www.insideindianabusiness.com/newsitem.asp?id=50985&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+IIB-Headlines+%28Headlines+-+Inside+INdiana+Business+with+Gerry+Dick%29

Following the sector’s worst year for new-home activity on record last year, several recent reports are suggesting a pick-up in new construction.

"Builders have been seeing some marginal improvement in sales activity over the past few months, particularly in select markets where consumer confidence is higher due to improved economic conditions," Bob Nielsen, chairman of the National Association of Home Builders, said in a statement. "While this trend is encouraging, overall sales activity is still well below normal due to the effects of overly tight credit conditions for builders and buyers, the continued flow of distressed properties on the market, and inaccurate appraisal values on new homes."

Despite the October gain in sales, new-home sales for the month were at an annual rate of 307,000--still less than half the 700,000 in sales that most economists consider healthy for the housing market.

A Regional Look

A break down of sales by region in October:

• Midwest: Rose 22.2 percent
• West: Rose 14.9 percent
• Northeast: Stayed flat
• South: Declined 9.5 percent

Inventory Drops Drastically

Nationwide, the inventory of new homes for sale stayed at an all-time record low of 162,000 units in October.

"Particularly encouraging is the fact that builders continue to hold down their inventories to match the current sales rate, with the number of new homes for sale now down to a sustainable, 6.3-month supply," NAHB Chief Economist David Crowe said in a statement.

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News

http://realtormag.realtor.org/daily-news/2011/11/29/new-home-sales-post-biggest-gains-in-months

The following is the text from the NAR’s quarterly commercial real estate forecast release.

Growth in Commercial Real Estate Markets Expected in 2012

Commercial real estate markets have been relatively flat this year, but improving fundamentals mean a more positive trend is expected in 2012, according to the National Association of Realtors.

Lawrence Yun, NAR chief economist, said there is little change in most of the commercial market sectors. “Vacancy rates are flat, leasing is soft and concessions continue to make it a tenant’s market,” he said. “However, with modest economic growth and job creation, the fundamentals for commercial real estate should gradually improve in the coming year.”

The commercial real estate market is expected to follow the general economy. “Vacancy rates are expected to trend lower and rents should rise modestly next year. In the multifamily market, which already has the tightest vacancy rates in any commercial sector, apartment rents will be rising at faster rates in most of the country next year. If new multifamily construction doesn’t ramp up, rent growth could potentially approach 7 percent over the next two years,” Yun said.

Looking at commercial vacancy rates from the fourth quarter of this year to the fourth quarter of 2012, NAR forecasts vacancies to decline 0.6 percentage point in the office sector, 0.4 point in industrial real estate, 0.8 point in the retail sector and 0.7 percentage point in the multifamily rental market.

The Society of Industrial and Office Realtors, in its SIOR Commercial Real Estate Index, an attitudinal survey of 231 local market experts,1 shows the broad industrial and office markets were relatively flat in the third quarter, in step with macroeconomic trends. The national economy continues to affect the sectors, with 92 percent of respondents reporting the economy is having a negative impact on their local market.

Even so, the SIOR index, measuring the impact of 10 variables, rose 0.6 percentage point to 55.5 in the third quarter, following a decline of 2.6 percentage points in the second quarter. In a split from the recent past, the industrial sector advanced while the office sector declined.

The SIOR index is notably below the level of 100 that represents a balanced marketplace, but had seen six consecutive quarterly improvements before the last two quarters. The last time the index reached the 100 level was in the third quarter of 2007.

Construction activity remains low, with 96 percent of respondents indicating that it is lower than normal; 88 percent said it is a buyers’ market in terms of development acquisitions. Prices are below construction costs in 83 percent of markets.

NAR’s latest COMMERCIAL REAL ESTATE OUTLOOK offers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS, Inc., a source of commercial real estate performance information.

Office Markets

Vacancy rates in the office sector are expected to fall from 16.7 percent in the current quarter to 16.1 percent in the fourth quarter of 2012.

The markets with the lowest office vacancy rates presently are Washington, D.C., with a vacancy rate of 9.3 percent; New York City, at 10.3 percent; and New Orleans, 12.8 percent. After rising 1.4 percent in 2011, office rents are forecast to increase another 1.7 percent next year. Net absorption ofoffice space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is projected to be 20.2 million square feet this year and 31.7 million in 2012.

Industrial Markets

Industrial vacancy rates are projected to decline from 12.3 percent in the fourth quarter of this year to 11.7 percent in the fourth quarter of 2012.

The areas with the lowest industrial vacancy rates currently areLos Angeles, with a vacancy rate of 5.2 percent; Orange County, Calif., 5.7 percent; and Miami at 8.4 percent.

Annual industrial rent should decline 0.5 percent this year before rising 1.8 percent in 2012. Net absorption of industrial space nationally should be 62.0 million square feet this year and 41.2 million in 2012.

Retail Markets

Retail vacancy rates are likely to decline from 12.6 percent in the current quarter to 11.8 percent in the fourth quarter of 2012.

Presently, markets with the lowest retail vacancy rates includeSan Francisco, 3.7 percent; Long Island, N.Y., and Northern New Jersey, each at 5.7 percent; and San Jose, Calif., at 6.0 percent.

Average retail rent is seen to decline 0.2 percent this year, and then rise 0.7 percent in 2012. Net absorption of retail space is seen at 1.2 million square feet this year and 13.5 million in 2012.

Multifamily Markets

The apartment rental market - multifamily housing - is expected to see vacancy rates drop from 5.0 percent in the fourth quarter to 4.3 percent in the fourth quarter of 2012; multifamily vacancy rates below 5 percent generally are considered a landlord’s market with demand justifying higher rents.

Areas with the lowest multifamily vacancy rates currently areMinneapolis, 2.4 percent; New York City, 2.7 percent; andPortland, Ore., at 2.8 percent.

Average apartment rent is projected to rise 2.5 percent this year and another 3.5 percent in 2012. Multifamily net absorption is likely to be 238,400 units this year and 126,600 in 2012.

The COMMERCIAL REAL ESTATE OUTLOOK is published by the NAR Research Division for the commercial community. NAR’s Commercial Division, formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR.

The NAR commercial components include commercial members; commercial committees, subcommittees and forums; commercial real estate boards and structures; and the NAR commercial affiliate organizations - CCIM Institute, Institute of Real Estate Management, Realtors Land Institute, Society of Industrial and Office Realtors, and Counselors of Real Estate.

Approximately 79,000 NAR and institute affiliate members specialize in commercial brokerage services, and an additional 171,000 members offer commercial real estate as a secondary business.

The next commercial real estate forecast and quarterly market report will be released on February 24.

SOURCE: National Association of Realtorshttp://www.realtor.org/Research.nsf/Pages/commercialhome

POSEY CO., IN - A New Harmony landmark is getting a bit of a face list.

Construction crews are replacing more than 20,000 wood shingles on the Roofless Church, which is famous for its 50 foot dome structure.

Koester Construction has been working on the Roofless Church since August.

Crews are finishing up the shingle replacement; just the tip of the dome still needs to be replaced.

Jeffrey Koester said the construction has been planned for about five years, and thousands of wood shingles were about ten years past their time to be replaced.

They've had to wait on fixing up the dome since it is so popular for weddings in the warm summer months.

Things have been running smoothly so far, according to Koester, and they hope to be finished up December.

"It's not as tough as it is time consuming and tedious. Every shingle has to be cut to fit the radius and the arc of the dome," he said.

Koester said construction wouldn't have been possible if they hadn't found the original blue print for the dome about four years ago.

Source: http://www.news25.us/story/16059838/roofless-church-has-shingles-

Smaller homes near restaurants and retail may be the most in demand as the housing market crawls out of its slump, housing experts say.

McMansions--which are at least 2,600 square feet--were popular during the years of the housing boom, but now are only desired by 18 percent of households today and is expected to drop more, according to a survey by Trulia.

"Baby boomers are trading down. They don't need the McMansion, and they don't want to drive as much," Jed Kolko, Trulia’s chief economist, told Money Magazine.

Source: “A Smaller House Will Make a Big Difference,” Money Magazine (Nov. 14, 2011)

EVANSVILLE - Downtown businesses are excited that the new Ford Center is up and running, not only from the standpoint of entertainment value, but monetary value as well.

Since the Ford Center has opened, a few events, including UE basketball and Icemen hockey games, have been held there. These events have attracted additional crowds to downtown Evansville and the surrounding stores, shops and bars have benefited.

Main Gate Sports Bar and Grill is one of those businesses. Blake Billman, manager of Main Gate, is excited about the additional customers his bar has received, and said he had great success during last weekend's Icemen game.

"We had to keep track of how many people were coming in," Billman said. "And I had to end up cutting and shutting down. We were at capacity and couldn't let anybody else in. So, great problem to have, unfortunately, you know, we can't pack the place full due to fire code and all that. But it was awesome."

Source: http://www.news25.us/story/16001905/downtown-reap-benefits-of-ford-centers-popularity