Adriana Pop
Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https://www.linkedin.com/in/ioana-adriana-pop-811772108/.
Procaccianti Group Buys Historic Renaissance Providence Hotel
by Adriana Pop, Associate Editor
The Procaccianti Group, a Cranston-based hotelier and development company, has acquired the Renaissance Providence Hotel from Sage Hospitality of Denver, Providence Business News, reported. Financial terms were not disclosed.
Located Downtown near the Rhode Island State […]
Procaccianti Group Buys Historic Renaissance Providence Hotel
The Procaccianti Group, a Cranston-based hotelier and development company, has acquired the Renaissance Providence Hotel from Sage Hospitality of Denver, Providence Business News, reported.
Forest City Hawaii to Develop 690 Pohukaina Mixed-Use Project in Honolulu
Forest City Hawaii has been selected by the Hawaii Community Development Authority (HCDA) to develop the $500 million “690 Pohukaina” mixed –use project in Honolulu’s Kakaako neighborhood.
According to the Pacific Business News, the developer has proposed the construction of 800 workforce rental housing units on the state owned parcel located at 690 Pohukaina Street. Pending further approvals, the public-private project could include Hawaii’s tallest building at 650 feet. Plans also call for a commercial and civic building, a parking structure, a business incubator and offices for the state’s library system and Friends of the Library. Continue reading →
Gershman Brown Crowley to Begin Construction on First Phase of $100M Mixed-Use Project in Carmel
Indianapolis-based Gershman Brown Crowley Inc. will soon break ground on the first two components of its $100 million mixed-use development in Carmel. According to the Indianapolis Business Journal, the developer is seeking design approval from the city for a 9,600-square-foot retail building at the southwest corner of 116th and Illinois streets and a 13,200-square-foot CVS pharmacy planned at 116th and Springmill. Gershman Brown Crowley expects to start construction in March. The pharmacy is scheduled to open in September, while the retail building is slated to be finished by October.
Glenwood Hospitality Debuts $15M New Hampton Inn and Suites Hotel in Raleigh
The new Hampton Inn & Suites Raleigh Downtown is officially open. Located in the Glenwood South District at 600 Glenwood Avenue, the boutique-style property offers 126 guestrooms. According to the Triangle Business Journal, it is the first hotel to open in the city’s downtown area since the Raleigh Marriott City Center opened on Fayetteville Street in 2008. The property is also the first new lodging construction project in the Glenwood South district.
Ramco-Gershenson Pays $10.4M for Phase 2 of Waukesha Retail Center
Ramco Gershenson Properties Trust has acquired the second phase of The Shoppes at Fox River development in Waukesha. Opus Development Corp. has sold the recently opened shopping center for $10.39 million, the Business Journal reports. The property features 47,000 square feet of retail space, as well as an adjoining 12.2 acres of land. T.J. Maxx, Ulta Salon and Cosmetics, Rue21 and Charming Charlie’s are among the mall’s tenants. In December 2010, Ramco also purchased the 273,000-square-foot first phase of the shopping center from Opus for $23.8 million. The space is 100 percent occupied and includes Pick ‘n Save, Petco, Buffalo Wild Wings, Noodles & Company, Dollar Tree and Famous Footwear as tenants. The sale did not include the Target, Chili’s and CVS buildings.
Bayer to Construct $2.65M North American Bee Care Center
Bayer CropScience has announced plans for the development of a North American Bee Care Center at the company’s headquarters in Research Triangle Park. The estimated cost of the project is $2.65 million, the Herald Sun reports. Construction on the 6,600-square-foot LEED Gold-certified facility is expected to begin in February. Upon completion in July 2013, the center will serve as a gathering place between researchers, bee experts, students, visitors and leading Bayer scientists. “We understand the necessity for healthy bees as pollinators and their critical role to agriculture, and by working with scientists, growers, beekeepers and customers, we strive to create new approaches and solutions to benefit bee health and the global food supply,” said Jim Blome, president and CEO of Bayer CropScience North America.
State Agency Green-Lights $200M Condo Project in Downtown Honolulu
The Hawaii Community Development Authority has unanimously approved the construction of a $200 million condominium skyscraper on the site of the former Honolulu Advertiser building. The 46-story tower proposed at 801 South St. will be the first high-rise condo project in Kakaako in which all of its 635 units are designated “workforce housing.” Construction and sales are expected to begin by mid-2013. Upon completion in 2015, the project will offer a mix of studio, one- and two-bedroom units priced between $250,000 and $550,000. According to the Pacific Business News, Honolulu-based Downtown Capital L.L.C. will develop the all-affordable condo high-rise. The team working on the project also includes general contractor Hawaiian Dredging Construction Co., architect Kazu Yato AIA & Associates Inc. and the real estate brokerage firm Marcus & Associates Inc.
After 50 Years, Preservation Group Graduates from Tenant to Owner at Colonial Schoolhouse
by Adriana Pop, Associate Editor After leasing the Brick School House from the city of Providence for a half-century, the Providence Preservation Society is graduating from the historic building’s long-time tenant to its new owner. The organization is acquiring the Brick School House with the help of a $341,500 grant from The Champlin Foundations. PPS […]
Pittsburgh Glass Center to Develop Affordable In-Residence Housing in Garfield
The Pittsburgh Glass Center has purchased a former coffeehouse in Pittsburgh’s Garfield neighborhood, with plans to repurpose the facility as student and artist-in-residence housing. Construction will begin as soon as funding is secured. According to the Pittsburgh Business Times, Bloomfield-Garfield Corp. and Friendship Development Association facilitated the acquisition and will also support the property’s redevelopment. Located at 5447 Penn Ave., the former Kim’s Coffee Shop will provide affordable housing for the center’s visiting artists, students and guests of other arts and community organizations. Plans may also include a retail portion for glass art and supplies.