News
Economy Watch: Unemployment Drops in Most States in March
The BLS reported that 30 states saw decreases in unemployment numbers during March, led by North Dakota’s energy boom. Gas prices have declined six cents per gallon in the last two weeks. And the IMF has raised another $430 billion in lending capacity.
Real Estate Recycling Plans Green Office Project in Downtown Minneapolis
By Gabriel Circiog, Associate Editor Minneapolis developer Paul Hyde, a principal with Real Estate Recycling, plans to construct a two-story office building at 1016 Marquette Ave., the Minneapolis / St. Paul Business Journal reports. Real Estate Recycling acquired the existing 1931 single-story building from local developer Larry Abdo on April 2 for $825,000. The design […]
Christus to Transform Downtown Campus into Children’s Hospital
By Camelia Bulea, Associate Editor After receiving approval from Christus Health, Christus Santa Rosa Health System will invest $135 million to transform its downtown campus into a freestanding hospital. The current facility, an acute-care center serving adults and children, is to be transformed into a hospital dedicated entirely to children’s healthcare services and pediatric research, […]
KPMG Centre, Valley View Posted for Foreclosure Auctions
By Camelia Bulea, Associate Editor The 34-story KPMG Center in downtown Dallas (pictured at right) and Valley View Center, a 1.6 million-square-foot retail property, have been posted for foreclosure auctions. According to the Dallas Business Journal, KPMG Center has $64 million in listed debt, even though it is appraised at $44 million, while Valley View […]
Hornets Bring Investment; Iberville Redevelopment Progresses
By Eliza Theiss, Associate Editor The sports industry may soon contribute more to the Crescent City’s economy. New Orleans Saints owner Tom Benson’s purchase of the New Orleans Hornets seems close to being a done deal. WWL-TV reports that the framework of ownership negotiations has the Hornets tied to the Big Easy through 2024. However, the […]
Developers Plan Phase II of Flats East Bank Project
By Adrian Maties, Associate Editor
The developers of the Flats East Bank waterfront project in Cleveland announced they have secured commitments from a country-music venue and four restaurants. Toby Keith’s I love This Bar & Grill, Ken Stewart’s, Lago, Flip Side […]
New Residential Development for Blue Ash
By Adrian Maties, Associate Editor
Hills Properties plans to bring a resort-style residential community to the city of Blue Ash. Last week, the company presented the final plans of the project to the Blue Ash Downtown Design Review Committee. They were […]
HFF Secures $30M Financing for One Progress Plaza
Holliday Fenoglio Fowler L.P. has secured $30.8 million in financing for the tallest building in Pinellas County—One Progress Plaza—according to company officials. Working exclusively on behalf of owner Kucera Properties, HFF placed the 10-year, fixed-rate loan with American National Insurance Co., which is headquartered in Galveston, Texas.
JV Acquires 19 Acres in Houston’s Energy Corridor for Major Multi-Phase Development
Trammell Crow Co. and Principal Real Estate Investors have teamed up for the purchase and future development of an 18.9-acre site located at the southwest corner of Interstate 10 and North Eldridge Parkway in the heart of Houston’s Energy Corridor.
Bozzuto’s 116-Unit vPoint Celebrates Grand Opening
By Adrian Maties, Associate Editor
vPoint, a new high-rise, mixed-income apartment community, celebrated its grand opening in Clarendon, a popular Arlington neighborhood, on April 12. The Class A apartment complex was co-developed by Bozzuto Development Co. and Chesapeake Community Advisors in partnership with the Arlington County, Va., Housing Development Authority (VHDA) and The Views at Clarendon […]