News
Economy Watch: Home Values Still Rising, but Not As Fast; Consumers More Confident
The latest S&P/Case-Shiller Home Price Indices showed that the 10-City and 20-City Composite Indices gained 0.8 percent and 0.9 percent respectively month over month. And consumers’ assessment of present-day conditions improved in May.
Economy Watch Weekly: Housing’s Not as Robust as Last Year
CPE‘s economic analyst, Dees Stribling, gives his update for the week ending May 23, 2014.
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.
JPMorgan Chase Makes $100M Commitment to Revitalize Detroit Communities
The city of Detroit just got a boost that will have an enduring impact. JPMorgan Chase & Co. has announced a $100 million, five-year commitment to bolster the economic recovery of the city, which, in 2013, became the largest city in U.S. history to file for bankruptcy.
Starwood Hotels & Resorts Signs 430 KSF Lease for Global HQ in Stamford, Conn.
Starwood Hotels & Resorts Worldwide Inc. has signed a new 430,000-square-foot, 20-year lease for a planned expanded global headquarters at One StarPoint in Harbor Point.
International: Oberoi Partners with Ritz-Carlton on M-U Worli Development in Mumbai
The Ritz-Carlton Hotel Co. has signed a long-term management agreement with Oasis Realty, a joint venture between Oberoi Realty and Sahana Group, to open the first Ritz-Carlton in Mumbai.
Chinese Developer Buys Majority Stake in Historic San Francisco Office Property for $350M
Chinese developer Kylli Inc. has bought a majority stake in the 22-story office building at 225 Bush St., in the San Francisco CBD, taking the share previously owned by GEM Realty and SEB ImmoInvest.
Economy Watch: New Home Sales See Uptick in April; Bank Failures at Sluggish Pace
Sales of new single-family houses in April increased by 6.4 percent compared to March. And so far, only eight banks have failed nationwide.
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.
DiamondRock Hospitality Completes Renovation of 821-Room Hilton Minneapolis
DiamondRock Hospitality Company recently announced that it has successfully completed its $13 million renovation of the Hilton Minneapolis. The revamping project, which started in November 2013 included guest rooms, guest bathrooms and corridors.
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