News
Westside Housing Announces Plan to Redevelop School Buildings into Affordable Housing
The Westside Housing Organization has announced plans to transform 5.5 acres housing long-vacant school buildings into a 10-building mixed-use affordable housing development,
Baton Rouge Student Housing Complexes Go On the Market
Covington, LA-based Stirling Properties has placed on the market two Baton Rouge student housing complexes
General Hotels Plans $8M Renovation for Downtown Crowne Plaza
General Hotels Corp. is planning a major renovation of the Crowne Plaza Hotel in downtown Indianapolis. According to Inside Indiana Business, the $8 million project will include extensive upgrades to the hotel’s 273 guest rooms, as well as improvements to the meeting space and food and beverage areas. In order to ensure minimal impact to hotel guests, the renovation will be conducted in phases. It is scheduled to begin during the first quarter of 2013 and be completed by October. “The hotel’s historical, architectural charm and proximity to downtown’s entertainment districts, sporting venues and attractions, combined with newly renovated state-of-the art comfort will offer planners and visitors an exclusive meeting / lodging experience distinctly set apart from other area hotels,” said Jim Dora, Jr., General Hotels Corp. president and CEO.
Tanger Opens $76M Outlet Mall at Westgate City Center in Glendale
Eight months after breaking ground, Tanger Outlets Westgate, a $76 million outlet mall, opened to the public on Nov. 15, reported the Phoenix Business Journal. The 85-store center will be an anchor for the 8 million-square-foot Westgate City Center complex, which will incorporate shopping, entertainment, office and luxury residential elements.
Yoma Strategic to Purchase 80 Percent Stake in 2 MSF M-U Development in Yangon
Yoma Strategic Holdings entered into a sale and purchase agreement with Serge Pun & Associates Limited to acquire rights to participate in the development of about 10 acres of land in downtown Yangon, Myanmar.
Oxford Development to Decide on 350 Fifth Avenue Plans By Year’s End
Oxford Development Corporation, the largest privately owned commercial real estate firm in Western Pennsylvania, celebrated its 50th anniversary at the Rivers Club at One Oxford Centre in downtown Pittsburgh. On this occasion, President and CEO Steven J. Guy told the Pittsburgh Tribune-Review that the company would continue its aggressive pursuit of development and management opportunities. Announced in May, Oxford’s latest project involves the revitalization of the Smithfield Street corridor. In order to better suit market demand, Oxford has invested in the conceptual design of two options and expects to make a decision by the end of the year.
$100 Million Student Residence Breaks Ground Near Temple University
By Veronica Grecu, Associate Editor The former John Wanamaker School building located at 12th Street and West Montgomery Avenue in North Philadelphia is being reconverted into a mixed-use facility that will serve Temple University students. Though the official groundbreaking ceremony was held last week at the site, the project was originally presented in 2008 when […]
Retail Phase of 14.5-Acre Mixed-Use Development Underway, Multifamily and Office to Follow
DeBartolo Development, LLC and Forge Capital Partners, LLC have recently broken ground on The Fresh Market at Mills Park—the first phase of a 14.5-acre mixed-use development that will rise at the intersection of Mills Avenue and Virginia Drive in Orlando.
800-Key Omni Nashville Hotel Designed by Looney and Associates Tops Out
The much-anticipated 800-key Omni Nashville Hotel announced topping out 17 months after groundbreaking, marking an important step in its race to open in the fall of 2013.
Academy Tower in North Hollywood Now Part of Kennedy Wilson’s Portfolio for $48 Million
North Hollywood properties have been the subject of some interest lately, a trend that is making itself noticed through a number of purchases. The latest of these is the acquisition of The Academy Tower, an office property located in the area, by international real estate firm Kennedy Wilson. The company reportedly paid $48 million for the office building, a large chunk of which was raised through a financing deal facilitated by KW with Bank of America Merrill Lynch.