Development
Liberty Mutual to Expand in Boston with $300M Addition to HQ Campus
A behemoth new office tower is being planned for Boston’s occupancy-challenged office market, but fortunately, the entire facility has been spoken for. Liberty Mutual Group just announced it will expand its headquarters with the addition of a new $300 million office building downtown on land adjacent to its current home office.
Jones Lang LaSalle Named Leasing Agent for $43M Liberty Wharf Project
Jones Lang LaSalle has been named the exclusive leasing agent for Liberty Wharf, a $43 million, 74,000 square foot mixed-use development on the South Boston Waterfront.
Organization Launches $4B Green Initiative for Affordable Housing
The green movement in commercial real estate has caught on like wildfire and even with the recession having left most clutching their pocketbooks, it continues to spread. Now Columbia, Md.-based Enterprise Community Investment Inc. plans to take the trend to new heights with the kicking off its $4 billion Green Communities initiative, which is designed to propel the greening of affordable housing development across the country.
Consumers Warm to Green Energy, But Questions Remain
Concerns about energy costs and the environment are driving consumer behavior as they choose between a growing selection of green energy initiatives, according to new research from Nielsen Claritas. “Energy Trends: Highlights on Consumer Energy Usage,” which draws on the responses of more than 32,000 respondents about their energy use, found that while some consumers are adopting green habits, many have not been as quick to jump onboard.
Russian Equity Partner Comes Aboard on $4B Atlantic Yards Project
The $4 billion Atlantic Yards mixed-use development–the centerpiece of which will be the Barclays Center sports and entertainment arena, future home base of the NBA’s Nets team–has new financial backing. Developer Forest City Ratner Cos. Inc. and Nets Sports and Entertainment have just signed a letter of intent to form a strategic partnership with an affiliate of Moscow-based international private investment fund Onexim Group for the development of the 22-acre project. The multi-faceted deal calls for Onexim to invest $200 million.
Anticipating Demand for Mixed-Use, DC Selects Team for 510,000SF School Redevelopment Project
The real estate sector in Washington, D.C., has suffered blows from the economic downturn and credit crunch just as other major cities have, but that is not preventing District officials from making plans to capitalize on widely anticipated demand down the road. The city has just chosen a team involving Stanton Development Corp. and EastBanc Inc. to spearhead the redevelopment of the former Hine Junior High School in the Capitol Hill Historic District into a 510,000-square-foot mixed-use destination.
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