National
More Homes Likely to Be Built in Channing Park
Developers of Channing Park, near the intersection of Boyette and Dorman roads Southeast Tampa, await zoning hearings in order to incorporate more homes in the plan.
Town Officials Remove Endangered Species Protection from 2,400-Acre Area
Marana residents fear that Tortolita Preserve may be facing a whole series of developments in the near future as town officials intend to withdraw a 99-year lease agreement early and give the area back to the state. The goal of creating the preserve 13 years ago was to reduce Dove Mountain’s development, thus protecting the habitat of the Pygmy Owl. The species was on the endangered species list at that time.
Developer Obtains Approval for 80,000 SF Mixed-use Development
The intersection of Central and Laguna SW will turn into a construction site early next year. Jay Rembe, the developer responsible for the Aveda Institute and Vinaigrette project, isn’t ready to leave the Central Avenue corridor between Downtown and Old Town.
$9.5M Purchase of Industrial Facility by Gramercy Property Trust
By Anca Gagiuc, Associate Editor
The real estate investment trust Gramercy Property Trust announced the acquisition of an industrial facility in Austin. The transaction went through after the company executed definitive agreements for a private placement of 11,545,200 shares of common equity at $4.11 per share. The Private Placement raised gross proceeds of $47.4 million.
Historic Buildings to Become Mixed-Use Community in Old City
Behind the $20 million project is Alterra Property Group, a locally-based real estate investment, development and management company who has built and/or redeveloped hundreds of housing units in Philadelphia’s historic district.
Texas Doctor Wins Bid for Packard Plant—But Will She Pay?
After an intense bidding war that amounted to 117 online bidders and last-minute skyrocketing amounts, the largest industrial ruin in Detroit was sold to a family practice doctor from suburban Dallas, for just above $6 million. It appears that Jill Van Horn of Ennis, Texas, who won the Wayne County tax-foreclosure auction for the abandoned Packard Plant, along with several still-to-be-identified investors from Detroit could breathe new life into the century-old crumbling plant.
Allegheny Center Apartment Community in Pittsburgh’s North Shore Up for Sale
The 800-unit apartment complex at Allegheny Center in Pittsburgh’s North Shore has been listed for sale. According to the Pittsburgh Business Times, the local office of CBRE is marketing the Pittsburgh Apartments property, which is owned by Allegheny Center Associates.
Las Vegas Home Prices Gain Again As Market Draws Institutional Investors
As this summer’s last number should have come in by now, studies show that the Las Vegas housing market has seen its average price growth outpace the national averages once again in August. The city’s housing market is seeing consistent improvement and has been doing so for a number of months, as figures the Standard & Poor’s/Case-Shiller Index show.
Related California Proposes Massive Project as New Core for Santa Clara
Santa Clara is set to have a brand new focal point after Related California recently announced its plan to develop a large city-center-style project. The plan is currently under review by the Santa Clara City Council’s Sports and Open Space Authority, to determine whether the massive initiative will be given the green light. Should Related go ahead with the mixed-use development, the area will add a large number of residential units, office space, retail spots, dining options and jobs, all contributing to the growth of Santa Clara.
LifeStorage Opens New Facility in Chicago’s West Loop
LifeStorage has recently announced the opening of its new self storage venue in the rapidly growing, historic Chicago West Loop neighborhood.
The Chicago-based self storage provider for residential and commercial clientele, LifeStorage, was founded in 2002 with a single storage facility and has since then grown to 49 storage facilities in eight states.