[In the News] The Shift to Multi-Family Real Estate

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The Growing Sector of Multi-Family Real Estate

Did you know multi-family real estate is one the fastest-growing sectors in the country right now? In fact, investment hit a record $43 billion in the fourth quarter of 2015, and multi-family units now account for more than one-third of all new housing.

Shifting lifestyles in the U.S. have sent demand for rentals through the roof. America’s rental population is expected to grow by 4.2 million people between 2015 and 2025, according to a recent Harvard study.

So why is multi-family real estate so popular now?

Top three reasons why multi-family housing is hot:

  • Demographics. The number of young adults (20-34) is rising.
  • A major change in attitudes about how we live. Many desire a walking-based urban lifestyle.
  • The real estate collapse of a few years ago left some cautious at the thought of home ownership.

Multi-Family Real Estate in Central Indiana

Moreover, did you know Indianapolis was recently called “one of the best new boom towns in the U.S.” by Forbes and an “emerging hotspot” by Newsweek? Yes, Indianapolis! With numerous locally-authentic urban areas, Empty-Nesters, Baby Boomers and Millennials are leading the return to walking-based lifestyles in a highly livable metro area.

At the core of so many Central Indiana urban living areas is vibrant and convenient living. Multi-family construction plays a large factor in that, and it’s an expertise we are proud to work within daily. From downtown Indy to Carmel, Westfield, Brownsburg, Greenwood and beyond, Greater Indianapolis has counted on Custom Concrete for over 50 years for quality concrete foundations for luxury living, senior living and university living environments.

We may be partial, but we think Central Indiana is one of the most beautiful places to call home, whether single family or multi-family. Some of the best restaurants, performing arts, entertainment, sports, museums, waterways and parks are in Indy. How could it not be a hotspot?!

Explore our multi-family project portfolio.

 

Custom Concrete Named Greenways Foundation Outstanding Corporation

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Custom Concrete is honored and humbled to be named Greenways Foundation’s 2016 Outstanding Corporation. There are many gorgeous greenways throughout Indiana, and we are lucky enough to have one right in our own backyard – the Monon Trail extension in Westfield.

Last year Custom Concrete made three additions to the trail in close proximity to the Westfield, Indiana headquarters. There’s now a quarter of a mile stretch that we call the Custom Concrete “Healthy Path”. Additionally, three fitness stations were installed with various exercise and stretching equipment so employees and the general public can utilize those fitness stations. One station is really unique. It’s designed to be handicap accessible. An individual in a wheelchair can pull right up to it and do various exercises all at different points.

It has been Custom Concrete’s pleasure to partner with the City of Westfield and the Westfield Parks Department to help the Monon Trail grow. We were thrilled to be able to build a paved trail connector from our campus to the Monon path. It has allowed our employees to continue to work on their health and wellness goals and has facilitated fun fitness stations the entire community can use as well.

“We want to promote a healthy lifestyle. We want for our company and community to take advantage of the great amenities we have here in Westfield,” says Brad Schrock, Custom Concrete vice president.

Let’s Choose Wellness … Together!

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Custom Concrete has taken numerous active steps to promote the health and well-being of our employees.

With November being National Diabetes Awareness Month, Custom Concrete and the American Diabetes Association reminds both our employees and customers that diabetes is one of the leading causes of disability and death in the United States. Did you know that 86 million adults in the U.S. are at high risk of developing type 2 diabetes?

By adopting a healthier lifestyle — like many of our Custom Concrete employees already have — we can prevent up to 90 percent of type 2 diabetes cases.  Read more

Custom Concrete Cares

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When a company’s roots are entrenched deep within a community, an active and altruistic presence in that community generally follows.

That is indeed the case with Custom Concrete.

Since launching in 1969, we have grown from a meager foundation forms company to one of Indiana’s leading providers of concrete work in commercial, residential and multi-family projects. Recent projects have included providing the foundations for a 750,000 square-foot manufacturing plant, a number of upscale multifamily developments and even several “big-box” stores throughout Central Indiana.

Nonetheless, one thing remains constant: a business environment that is based on the sound principles of trust, integrity, pride and faith. And with that comes that commitment to helping the community in which we live and work as well as taking care of our employees. Read more

The Science of Concrete

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While concrete has been around for thousands of years – the building material of choice for ancient Egyptians and Romans – the quest to make concrete stronger, more resilient and longer lasting continues.

Providing the highest quality concrete for our commercial and residential construction projects is paramount to Custom Concrete. We work with reputable, long-standing ready-mix concrete companies like Shelby Materials to provide us with the best product for our foundations.

Chris Wolf, director of technical support for Shelby Materials, weighs in on “The Science of Concrete” this month. Read more

Custom Concrete Named Healthiest Employer

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Westfield, Ind.-based Custom Concrete recently received recognition with the Healthiest Employer award for all Central Indiana companies with 100 – 499 employees. The award honors companies and organizations that take employee health seriously by offering wellness programs that are thorough, innovative and make a difference in the lives of employees and their families.

Custom Concrete’s nomination was in direct correlation to the company’s philosophy that wellness is a marathon, not a sprint. Their wellness program touts a very high participation rate and seeks to inform, educate and facilitate a healthier lifestyle both at work and at home for their employees.

According to Custom Concrete’s Chief Operating Officer Doug Staebler, being a healthy employer is a win-win proposition. “Less than three short years ago, we were just beginning the journey and trying to determine how we could help our employees achieve meaningful improvements in their health as well as for their entire family.  The notion of corporate wellness was not at all common for contractors, but we were convinced that we could help our employees through a combination of education that was both fun and effective, as well as offering financial incentives connected to our group medical insurance plan,” he said. “We have had outstanding guidance and support from American Health and Wellness along the way.  Our employees have embraced the wellness program which is now a big part of the culture at Custom Concrete, and we look forward to new wellness initiatives as we move forward.”

The company is currently creating a “path to wellness” in conjunction with the city of Westfield. Custom Concrete is located adjacent to the Monon Trail in Hamilton County and the location offers a healthy commuting alternative to driving.

It’s Not Your Dad’s Apartment

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Upscale, multi-family housing has grown into a hot commodity in Central Indiana, and Custom Concrete’s commercial division has been busy meeting the needs of demand.Hamilton-541-1024x686

According to DTZ (formerly Cassidy Turley), the Indianapolis multi-family market registered 405 units of net absorption during the first quarter of 2015, an increase of 63% over the prior year’s first-quarter absorption tally of 246 units. That figures into more than five years of uninterrupted occupancy gains in Central Indiana.

Likewise, the vacancy rate holds steady at six percent, and the development pipeline in greater Indianapolis remains full with nearly 4,000 units currently under construction, 3,263 of which will be delivered in 2015. Read more

All Commercial Slabs Not Created Equal

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Those in the business of concrete know the importance of a flat and level slab. Especially in industrial warehouse settings, where unmanned forklifts rule the floor and goods may be stacked on shelves 20 feet or higher, flatness and level specifications are a key indicator of project success.

But other businesses are catching on. Flatter and more level floors have been shown to be lower maintenance and provide an improved operational surface for many types of businesses. As a result, the demand for flatter floors is being seen in many different types of projects, from warehouses to retail store operations.

The degree of a slab’s flatness is expressed by two numbers, the FF (which describes the concrete slab’s flatness) and the FL (which refers to the slab’s levelness). Flatness is how close to geometric planarity a slab approaches. Flatness numbers run on a scale from 10 to 150, and most slabs fall into the range of 15 to 100. The higher the FF number, the flatter the slab.

Levelness is the amount of slope (or pitch or tilt) in a slab.  This is the degree to which the surface of the slab approaches true horizontal perfection. Read more

Custom Concrete Successfully Expands into Commercial Market

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For more than 50 years, Custom Concrete has been exceeding the expectations of its customers by creating top-quality, reliable foundations and forming solid professional relationships through our attentiveness and punctuality. In recent years, we’ve taken those high standards of quality, skilled employees and specialized equipment, to the commercial market. In the past 24 months, Custom Concrete has employed a Team with more than 100-plus years of combined service that specialize in numerous areas of commercial projects.  We have completed a number of large-scale distribution facilities that total more than 1.4 million square feet and currently have more than one million square feet in current projects.

Throughout these projects, we’ve employed our tried and true processes and procedures to handily meet any challenge presented to us and worked tirelessly to ensure our A skilled crew and specialized equipment like this laser screed ensures  success for Custom Concrete's commercial division.customers’ satisfaction — not only with the finished product, but also with the process of planning and coordination. Our success is no accident – it requires a combination of the right equipment, specialized and skilled employees, proficiency in oversight that employs internal quality control for every job. Perhaps our greatest strength is the adaptability of Custom Concrete that allows us to deliver an unparalleled finished result. Read more