Adrian Maties
Cleveland’s Victory Center Wins 2014 Preservation Achievement Award
Victory Center is the result of a $26.6 million redevelopment of the almost 100-year-old four-story building at 7012 Euclid Avenue. This new, mixed-use complex is located in the core of Cleveland’s Health-Tech Corridor, and is now ready to house the city’s growing incubator and accelerator growth-stage companies.
Federal Capital Partners Buys, Sells Apartment Communities Around D.C.
What do the cities of Frederick, in Maryland, and Fredericksburg, in Virginia, have in common? The two are named almost the same and they are both located at the same distance from Washington, D.C., about 50 miles. And Federal Capital Partners has recently been involved in large multi-family transactions in both markets.
Preliminary Designs for Renovated Martin Luther King Jr. Memorial Library Unveiled
Martin Luther King Jr. Memorial Library opened its doors to the public in 1972. As many of its systems need to be updated or replaced, the facility will now be renovated to accommodate 21st century library services and meet the needs of the city’s residents. The DC Public Library has presented preliminary design images of the renovated Martin Luther King Jr. Memorial Library at a community meeting, on Monday, May 19.
Celanese Breaks Ground on $20M Expansion of Florence Facility
Celanese Corporation plans to expand its presence in Northern Kentucky. The Dallas-based company is investing $20 million to expand its manufacturing capabilities at its facility in Boone County. The expansion will help Celanese keep up with the continued customer demand for its advanced engineered materials products.
Large South Baltimore Multifamily Portfolio on The Market
Another large Baltimore-area multifamily portfolio is on the market. The 132-unit Curtis Bay Village, located off Route 173 in Curtis Bay, is looking for new owners.
George Washington University Selects Skanska USA to Develop Square 75A
Square 75A, the 2100 block of Pennsylvania Avenue, will be the new home of a trophy office building. The George Washington University has selected Skanska USA Commercial Development Inc. to develop the project.
The Cost of Buying a Home in D.C.
The National Association of Realtors (NAR) says in its Metropolitan Median Area Prices and Affordability report for the first quarter of 2014 that the Washington-Arlington-Alexandria area is one of the most expensive markets in the country. The median sales price of existing single-family homes in the metro is $358,900. So how much would you need to earn in order to be able to buy a home here? HSH.com, a mortgage resource website, has the answer.
ViCU Plans June Groundbreaking for Arts Center; Name to Honor Markel Corp. Gift
Virginia Commonwealth University will break ground this June on the Institute for Contemporary Art (ICA). The new center will be a combination exhibition and performance space. It will include a laboratory and incubator for the presentation of visual art, theater, music, dance and film, helping to complement and enhance the offerings of VCU.
MARKET SNAPSHOT: Baltimore Apartment Market to Enjoy a Strong 2014
After a modest 2013, due to government budget cuts and furloughs, the Baltimore apartment market is making a comeback this year.
Montgomery County’s Silo Inn Shopping Center Sells for $17M
The Silo Inn Shopping Center, a neighborhood retail center in the Olney section of Montgomery County, now has a new owner. Bethesda-based Finmarc Management, Inc. sold the property to Taylor Georgia, L.L.C., a real estate investment company headquartered in Ellicott City. The price of the transaction was $17.42 million. Over the last 22 months, Finmarc has disposed of more than $367 million worth of properties.