News
$38M Children’s Museum to Open in 2017
New Orleans is on track for the late 2017 opening of the Louisiana Children’s Museum Early Learning Village
Bozzuto, Partners Break Ground on Arlington’s Union on Queen
The Bozzuto Group has started work on another apartment project in the Washington, D.C. area. It’s called Union on Queen and it is a public-private partnership between Bozzuto, the 40-year old non-profit developer Wesley Housing Development Corporation, Arlington County, Capital One Bank, Hudson Housing Capital, Walker & Dunlop, and The Virginia Housing Development Authority.
Preston Hollow Capital Secures $49M for Cibolo Canyons
Preston Hollow Capital, a diversified merchant bank, launched in January 2014 by the former longtime President and Chief Executive Officer of ORIX USA, Jim Thompson, announced that it has completed a $48.9 million financing for the Cibolo Canyons Special Improvement District, a 2,100-acre mixed-use master-planned community near San Antonio. The bond funding transaction will be used to provide reimbursement of infrastructure expense to the developer of Cibolo Canyons, Forestar Group Inc.
Schuster Group Tops Off Walton Lofts Project in Belltown
Earlier this year, we covered part of The Schuster Group’s activity in the Seattle multifamily market, when the vertically integrated real estate company announced the sale of its Joseph Arnold Lofts, and the focus of its attention on a similar project in the proximity of that asset, the Walton Lofts. The developer broke ground on the project in February 2014, and has now announced that the project has been topped off, with an opening set for next summer.
In a U.S. First, Hines Plans Tall Wood-Frame Building for Minneapolis
Hines Interests, one of the world’s largest real estate organizations with offices in 18 countries, recently revealed plans to develop a speculative office building in Minneapolis’ North Loop neighborhood, the Star Tribune reports.
New Renderings Revealed for Mixed-Use Asset at 535 Fourth Avenue
Six months after an investment trio purchased the 99-year ground lease on 535 Fourth Avenue in Brooklyn’s South Park Slope, new renderings were revealed for the 148-unit rental building.
Parking Garage Nearly Complete, Two More Office Buildings Planned at Former Parker Brothers Site in Beverly
Roughly 28 miles north of Boston, the 54-acre property that used to serve as the home office of the legendary game companies Parker Brothers and Atari is going through major changes.
Fore Property Co. Plans 727-Unit Apartment Community in Lutherville-Timonium
In its 2014 Apartment Market Report for the Baltimore area, Marcus & Millichap said operations in the region will continue to strengthen and vacancies will drop to 4.5 percent by the end of the year. Anticipating the growing demand, numerous developers have started work on several large apartment project. One of the largest could be coming to Lutherville-Timonium.
Mayor Garcetti Reveals Part of Strategy to Fulfill Housing Demand in Los Angeles, Bulk Up Affordable Housing
For the first time since taking in 2013, Los Angeles Mayor Eric Garcetti has addressed one of the many problems plaguing the metropolis. The local official held the keynote speech at the Los Angeles Business Council’s 2014 Mayoral Housing, Transportation & Jobs Summit, recently organized at the UCLA Anderson School of Management, in which he discussed future policies that would remedy the city’s housing issues, with a focus on the affordable housing sector.
Cleveland’s Global Center for Health Innovation Earns LEED Gold
Cleveland’s $465 million Global Center for Health Innovation and Convention Center is now LEED Gold certified. Cuyahoga County Executive Ed FitzGerald announced this important achievement at the end of October. It reflects the county’s strong commitment to sustainability.