News
LSU’s Engineering Complex to Undergo $100M Renovation
Louisiana State University’s (LSU) Patrick F. Taylor Hall, home to the university’s College of Engineering, is set to undergo a massive renovation and expansion project valued at around $100 million.
Breaking News: Cassidy Turley Promotes Stettinius to CEO
Cassidy Turley’s board of directors unanimously voted to nominate Joseph Stettinius as the new CEO, following the stepping down of Mark Burkhart, after 20 years at the post.
Orange Garden Apartments in Poway Re-Opens After $15.3M Upgrade
Orange Garden Apartments is the newest addition to Poway’s roster of affordable housing communities. Affirmed Housing Group recently announced the grand re-opening of the property after it bought the former market-rate complex and completed a $15.3 million renovation. Eligible residents include those earning 30 percent to 60 percent of the local median income.
Related Group Breaks Ground on Italian Luxury Condo
On Wednesday, The Related Group celebrated the groundbreaking of its latest Miami project—the 382-unit 1100 Millecento Residences. This is second Related Group project for the Brickell area, following its famous MyBrickell.
Johnson Capital Promotes Carnes to President
Johnson Capital taps its current COO Cliff Carnes for the post of president of the commercial real estate capital advisory firm.
NYC Housing Authority Initiatives Pave the Way for New Affordable Units
In an attempt to renew and revitalize public housing developments in New York City, the New York City Housing Authority (NYCHA) Chairman John B. Rhea announced a series of initiatives meant to generate more revenue for the Housing Authority. The first project announced by Chairman Rhea calls for at least 1,000 permanently affordable housing units for low- and moderate-income families, without displacing any NYCHA residents
Hunt Sells $139M in Institutional Apartment Properties
Hunt Investment Management has sold three apartment properties for a total of $139 million on behalf of various clients.
SL Green JV Recapitalizes 4.5 MSF West Coast Office Properties
East Coast office giant SL Green Realty formed a joint venture to recapitalize a 31-property office portfolio in Southern California.
Blueprints for $120M Austin Public Library Nearly Complete
The new Austin Public Library will feature a light-filled atrium, street-level cafe and multiple gathering spaces, according to the most recent designs unveiled by its architects. Designs, which have been in the works for the past three years, show that the six-story building will also include a street-level bookstore and a special event center, reports KVUE.com.
Economy Watch: Employment Edges Up; Retail Vacancies Drop; FOMC Talks QE3
Employment has increased in a few industries. The U.S. vacancy rate for regional malls has dipped. And the FOMC released its minutes, focusing most of its discussion on QE3.