Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
Developer Finally Awarded Crenshaw/LAX Transit Corridor Contract as Project Moves Forward with New Construction Start Date
A much-talked about project for Los Angeles’ transportation system recently got the go-ahead when the Los Angeles County Metropolitan Transportation Authority Board of Directors approved a contract worth $1.2 billion to Walsh/Shea Corridor Constructors to build the Crenshaw/LAX Transit Corridor. The development is now in the utility relocation phase with heavy construction set to start with spring of next year. The project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by voters in Los Angeles County back in 2008.
Starwood Reopens Historic Parisian Hotel
Starwood Hotels & Resorts Worldwide unveiled the restored Prince de Galles, a venue that is currently part of the Luxury Collection Hotels & Resorts brand.
Sage Hospitality Increases Portfolio with Éilan Hotel Resort & Spa
The Premier and Lifestyle Division of Sage Hospitality has extended with the company’s purchase of the Éilan Hotel Resort & Spa. This division is of interest to the management who invests in its growth through the addition of vibrant and progressive hotels, connecting modern luxury with harmonious style and design.
Sound Transit Breaks Ground on Permanent Facility in Tukwila
The Sound Transit transportation system is seeing a one of its temporary constructions replaced by a permanent facility as a development project for a new Tukwila station has recently begun. Sound Transit has broken ground on a new $46 million structure to replace the temporary facility at 7301 Longacres Way that was built back in 2000. The route is a 1.300-boardings-a-day line used by commuters going to and from Seattle.
One Call Services Preserves Historical Architecture in Renovation
One of the top commercial and residential contractors in Albuquerque, One Call Service, Inc., is making a big change in the home remodeling domain by trying to change as little as possible through preservation of the original architectural details. Ranked second highest by the Better Business Bureau, the company brings 25 years of combined experience and a GB98 license.
American Society of Radiologic Technologists Debuts $8.5M Expansion
In October 2011, The American Society of Radiologic Technologists was announcing the incipient stages of renovation of its Albuquerque office. The construction project included the addition of 30,000 square feet to the existing building.
Chinese Conglomerate Acquires Part of One Nine Elms Redevelopment Project
A major component of London’s One Nine Elms redevelopment project recently traded hands, with original developer Green Property selling its site to a Chinese conglomerate for a reported $140 million.
Real Estate Investment Company Reaches for the Stars as It Completes Walk of Fame Building Acquisition
Hollywood’s flashing stars seem to continue to attract attention as ASB Real Estate Investments has recently moved on the market for a prime retail and office property located along the world-famous Walk of Fame. The company has acquired the property for its Allegiance Fund, a $2.2 billion core, open-end real estate vehicle investing in high-profile assets that also offer long-term growth possibilities. The stars adorning the Hollywood Walk of Fame seem to be shining as bright as ever from an investment standpoint. ASB acquired the property from seller CIM Group for an undisclosed sum.
Property Assessed Clean Energy Act To Be Reviewed by the City of Austin
Texas legislation has been modified on June 19 by Governor Rick Perry to allow commercial and industrial building owners to access low-cost, long-term financing in the private sector for energy-efficiency upgrades and water conservation. His signature makes the PACE program effective immediately.
San Francisco Single Family Housing Inventory Constrained; Santa Clara University Pens Expansion Deal
After months of growth in terms of price and number of sales, San Francisco’s housing market reached an important milestone earlier in the year when the median value of a home in the area exceeded the $1 million mark. The improving market has clearly taken its toll on the city’s housing stock as The San Francisco Business Times recently reported that there are 30 percent fewer available homes on the market now than the same time last year.