As we consider the industries that Black Diamond nationwide (BDN) currently services and works in and plans to focus on for the future, there is no industry that we have more experience and have completed more projects across the United States than the Multi-family housing Industry. The American Housing industry is a strong and viable industry and the market remains fairly constant even when the overall market is suffering.
Multifamily housing is characterized by multiple units in a single building or connected by shared walls. It can be developed at a range of heights and densities, from low-rise duplexes to high-rise apartment complexes, and can be rental or ownership housing.
Types of Multi-family Apartments:
Apartment building or block of flats - a building with multiple apartments. There can be multiple apartments on each floor and there are often multiple floors. Apartment buildings can range in many sizes, some with only a few apartments, other with hundreds of apartments on many floors, or any size in between. There are often inside hallways and inside entrances to each apartment, but outside entrances to each apartment are also possible. An apartment building can be owned by one party and each of the apartments rented to tenants or each of the apartments can be owned as a condominium by separate parties.
Mixed use building - a building with space for both commercial, business, or office use, and space for residential use. Possible arrangements include the commercial/business use on the first or first couple floors and one or more apartments or residential spaces on the upper floors. Another possibility is to have the commercial/business area up front and the residential area in the back. Some or maybe all of the space may be used by the owner or some or all the business and residential units may be leased by the owner. Condominium ownership is also possible.
Apartment community - a collection of apartment buildings on adjoining pieces of land, generally owned by one entity. The buildings often share common grounds and amenities, such as pools, parking areas, and a community clubhouse, used as leasing offices for the community.