A report from Go Local Prov in Rhode Island. "For nearly three years, the proposed 46-story Fane Tower has been meandering its way through a complex web of Rhode Island’s overlapping regulatory structures. Across the United States -- and including in Providence, Rhode Island -- there are indications that the high-end real estate market has peaked and is now showing signs of retraction."

"In Providence, one of the top residential real estate experts, Sally Lapides, says she worries that the project is too big, too many units. 'I think it is too many units for the demand whether it is condos or rentals.' In Providence, there are a plethora of new apartment units coming on the market. The Edge at College Hill has been deemed 'not viable' by the project's former top marketer."

From Biznow on Georgia. Concerns have arisen that developers have overshot the market in some parts of metro Atlanta. 'I don't think it's a concern. I think it's a fact,' TruAmerica Multifamily co-Chief Investment Officer Matt Ferrari said about overbuilding. 'It's hard to argue people won't want to live there, it's just how much pain is an owner willing to deal with in the mid-term.'"

The Union Tribune in California. "San Diego County had the biggest drop in homebuilding in Southern California in the first six months of 2019. The county constructed 43 percent fewer homes in the six-month period compared to the same time last year, said the Real Estate Research Council of Southern California. Southern California home construction is down 25 percent from the same time last year, led largely by a reduction in apartment building."

"San Diego County had the biggest drop, but was not alone. Homebuilding was down 40 percent in Santa Barbara County, 29 percent in Los Angeles County, 20 percent in San Bernardino County, 9 percent in Riverside County and 7 percent in Orange County."

"Borre Winckel, CEO of the local Building Industry Association, said the price has gotten too high for many potential buyers. In the first six months, multifamily permits — which include apartments, townhomes and condos — were down 50.1 percent from 2018."

The Dallas Morning News in Texas. "The Dallas-Fort Worth area is slipping in a nationwide ranking of top commercial building markets. During the first half of 2019, four of the 10 largest construction markets in Dodge Data's survey saw declines in commercial and multifamily start volumes, including D-FW. New York, Miami and Houston have also seen building declines so far this year."

"'The 7% slide for commercial and multifamily construction starts in the Dallas-Fort Worth metropolitan area during the first half of 2019 was due to a 22% downturn for multifamily housing, which is now pulling back after the substantial 29% hike for the full year 2018,' Dodge Data said in the report."

From Bisnow on Texas. "Across the U.S., residents tired of urban development, density, traffic and housing costs have launched an outright war against developers to either reshape, curtail or stop apartments from coming into their communities. Even in the supposedly development-friendly Dallas-Fort Worth area citizens are aggressively fighting certain multifamily projects in the North Dallas suburbs."

"'I think more and more in these North Texas cities, residents are getting fed up with [dense development],' Frisco resident and real estate agent Brandon Burden said. 'We do need alternative forms of housing, but we don't need the overbuilding of it. And I think that what we are seeing right now is multifamily is a lot of what we build and the feeling that most citizens have is that we are overbuilding it. We need to cut back on the amount.'"

The Minot Daily News in North Dakota. "Over the objections of local property managers, the Minot City Council advanced a mixed-use project on South Broadway that proposes to provide low- to moderate-income housing with the help of city resilience dollars. Doug Pfau, who has worked in property management, estimated about 1,000 vacant apartments exist in Minot, and of those, 85% to 90% qualify as affordable housing. The same percentage of occupied units also qualify as affordable, given the rapid decline in rents since October 2014, he said."

"'The city is overbuilt on apartments, both low income and regular rent apartments,' added Matt Watne, a property manager. 'I would suggest that building additional apartments in Minot using taxpayers’ money would just exasperate the problem of having too many apartments in Minot for the number of people to fill them.'"

From Block Club Chicago in Illinois. "When Caitlin Schwind moved into her one-bedroom apartment on Milwaukee Avenue and Leavitt Street two years ago, she thought it was perfect. It was steps from the CTA Blue Line, which she uses to get to her office in the West Loop. It was surrounded by restaurants and bars. It was also brand new. The $2,000 monthly rent, Schwind said, was worth it."

"But in the last eight months, the price tag for living in Centrum Bucktown, a luxury apartment building with 94 units, has seemed less than justified for Schwind and her neighbors. In January, the apartment complex’s heater broke, leaving several tenants with ice-cold homes during the record-breaking Polar Vortex. Last week, the HVAC cooling system in at least six apartments, including Schwind’s unit, went kaput."

"'When I chose to live in this building, I thought there would be a certain level of service,' Schwind said. 'I lived in tons of crappy apartments in my life. When you pay cheap rent, you expect certain level of response. … This is actually my first expensive apartment. It’s just been hard to get even a phone call back.'"

"Last year, the original developers of the building, John McLinden and Arthur Slaven, sold the building to Harlington Realty for $51 million, according to Crain’s. McLinden and Slaven also sold Wicker Park Connection, a 207-unit building near the corner of Division Street and Milwaukee Avenue."

The Cooperator in New York. "Despite some fits and starts, the process of converting 1,000 rooms at the Waldorf Astoria hotel into 375 condo units is nearly complete – and Chinese developer Anbang announced on June 11th that it will be launching sales at the property this coming fall, according to Curbed. Anbang is currently under the control of the Chinese government after falling heavily in debt, and as recently as August of 2018 had postponed its Waldorf opening until 2021."

"But despite a market currently loaded with more sellers than buyers, things appear to be ramping back up, with the developer launching a somewhat cryptic new website along with a formal name for the project: The Towers. As The Real Deal notes, in addition to a landscape overrun with luxury condos languishing on the market, Anbang will have to contend with increasingly hostile U.S.-China trade relations.""

The Hartford Business Journal in Connecticut. "A heavily subsidized downtown Hartford apartment project that was part of the city’s 'six pillars' economic-development plan has fallen into foreclosure and forced the state to take a nearly $25 million haircut on its original investment, the Hartford Business Journal has learned. The holder of a pair of mortgages secured by downtown Hartford’s The Lofts at Main & Temple apartments and adjacent parcels has been suing to foreclose on the collateral since March, court files show."

"The two larger notes, the suit says, were issued to construct, and are secured with, a key apartment development in the city’s ambitious six pillars plan, which also led to the construction of the Connecticut Convention Center, Hartford Marriott Downtown and Connecticut Science Center. The properties listed in the lawsuit include 884-908 Main St., former home to the Sage-Allen Department store, now site of the 78-unit Lofts at Main & Temple apartments; and 29 Temple St., where 42 student townhomes were built."

"It’s not clear why The Lofts at Main & Temple property has experienced such financial difficulties, but developer sources say the property was overleveraged and the townhouses did not prove popular. However, the main apartment units have seen occupancy rates well into the 90-percent range, sources said."