News
San Fernando Valley Apartment Community Awaiting New Owner
By Alex Girda, Associate Editor Marcus & Millichap/Institutional Property Advisors is currently marketing a North Hollywood multifamily property for approximately $30 million. The Marquee Apartments is a residential community in the eastern part of the San Fernando Valley community of North Hollywood, at 12300 Sherman Way. The team that is handling the fee-simple interest in […]
MICA to Invest $18.5 Million in Student Housing Projects
By Adrian Maties, Associate Editor The Maryland Institute College of Art (MICA) has announced it will break ground in late fall on a $16.5 million student housing expansion project. The addition will help MICA provide housing for more than half its undergraduates and will also lead the revitalization of Baltimore’s North Avenue corridor and northern […]
Fallon, Drew Move Ahead on Big Boston Residential Projects
Developers like The Drew Co. and The Fallon Co. are taking note as demand for apartments in Boston continues to soar and the call for condominiums is on the upswing.
Silicon Valley Corporate HQ Fetches $180M for Tech Firm
Gilead Sciences Inc., a biopharmaceutical company, is buying the 300,000-square-foot headquarters of Electronics For Imaging Inc. in Foster City, Calif.
Equity International Sells Stake in Brazilian Holding Company
Chicago-based Equity International is focusing its South American investment strategy on multiple asset categories in Brazil and Colombia.
Economy Watch: State Jobless Rates Stuck in Neutral; U.S. Drives More, Pays Less for Gas
Unemployment rates rose in 27 states, decreased in 11 states and Washington, D.C., and were unchanged in 12 states. In May, Americans drove 2.3 percent more miles than they did in May 2011.
Mixed-Use Affordable Housing Project Starts in Greenwood
By Gabriel Circiog, Associate Editor More than 80 years after the last new development in Tulsa’s historic Greenwood district, construction is under way on a $9.5 million mixed-use affordable housing project called GreenArch. Tulsa World reports GreenArch LLC, a development team that includes Greenwood Community Development Corp. and the Hille Foundation, expects to complete the […]
Mesa Breaks Ground on $99M Chicago Cubs Ballpark
By Camelia Bulea, Associate Editor Construction of the $99 million baseball park in Mesa that will be the spring training home of the Chicago Cubs officially kicked off July 11 with a groundbreaking ceremony hosted by city leaders and officials of the Major League Baseball team. Located on Dobson Rd. just south of the Loop […]
$120M Mixed-Use Lakefront High-Rise Proposed
The underused Downtown Transit Center could be replaced by a 44-story hotel and apartment development. BizTimes Milwaukee reports that developer Rick Barrett, architect Matt Rinka and county officials have unveiled plans for a $120 million tower overlooking Lake Michigan. Called The Couture, the new high-rise would feature a hotel with 180 guest rooms, 179 high-end apartments, restaurants, retail space and 775 parking spaces. Upon completion, the building would be the third tallest in Milwaukee after the U.S. Bank Center and the 100 East office building. The Couture is expected to generate more than 4,400 construction jobs, 200 permanent jobs and an anticipated $2 million in tax revenue.
St. Louis Design Alliance Starts New Construction, Renovation Project
Locally-based architecture and development firm St. Louis Design Alliance is renovating a 1920s apartment hotel and building a mixed-use building at the eastern end of the Delmar Loop,