News
Olathe’s Mayor Announces Plans for New $51M Embassy Suites Hotel and Conference Center
Olathe’s Mayor Michael Copeland announced, at his State of the City Address at the Holiday Inn Olathe Hotel, plans for a new $51 million Embassy Suites Hotel and Conference Center.
Tangerine Corridor in Tucson Sees Residential Building Boom
Accounting for nearly two thirds of new home construction in northwest Pima County, the Tangerine Road corridor has recently become the “place to be” for homebuilders. Not only will the area dominate Tucson’s residential market this year, but it will also attract even more investors and homebuilders in the next years.
Three Multifamily Communities Trade for $83M
Richmond, Virginia-based Landmark Apartment Trust of America, Inc. (LATA), has announced the acquisition of three Charlotte multifamily communities for an estimated $83 million. The three assets, Mallard Creek, Abbington Place and Ashley Court have a combined 795 units and are 93 percent occupied.
Construction Breaks Ground on 925-unit Multifamily Project in Long Island City
March 4 marked the official groundbreaking of the initial phase of Hunter’s Point South, the biggest affordable housing project in New York City in 40 years. A $332 million joint venture between Phipps Houses, Related Companies, and Monadnock Construction, the project is located on a 30-acre site on the Long Island City waterfront in Queens.
Upscale $400M Marina Palms Condo Project Opens Extravagant Sales Center
By Georgiana Mihaila, Associate Editor Developers Plaza Group and DevStar Group recently opened a state-of-the-art sales center for their $400 million Marina Palms Yacht Club & Residences project—the first upscale condominium and marina destination to open in Miami-Dade County in 20 years. The 10,000-square-foot sales center was specially designed to reflect the luxury, spaciousness and […]
Foundation Communities Plans 109-unit Affordable Project
Foundation Communities plans to build a residential project with affordable rentals at 2800 S. Lamar Blvd., a booming area with upscale multifamily projects. The local nonprofit could build the 109-unit apartment project on a site that currently houses a Goodwill retail store.
Rouse Wraps Up $65M Refinancing of 900 KSF Suburban Tampa Mall
On the matter of loan maturities, Rouse Properties can check 2013 off its list.
Melbourne’s Largest Office Tower in 25 Years Purchased for $462M
Real estate investment trust IOF has announced the acquisition of a premium office project in Melbourne in partnership with Investa Commercial Property Fund.
Walgreens to Build Nation’s First Net-Zero Energy Retail Store in Evanston, Ill.
Walgreens is building a net-zero energy store in Evanston, Ill., that will use solar and wind power, geothermal heating and cooling and other energy-saving technologies to generate electricity and reduce its usage by more than 40 percent.
Economy Watch: Healthy Job Creation in February; Mortgage Delinquencies Continue Downward; Household Net Worth Up in 4Q
The U.S. economy created 236,000 jobs in February, much better than January. According to LPS, 7.03 percent of U.S. mortgages were delinquent in January, down from 7.17 percent in December. And U.S. household net worth at the end of fourth quarter 2012 was about $66 trillion, up about 1.6 percent from the end of the third quarter.