National
Opus Seals Financing Deal for Nicollet Residences
By Gabriel Circiog, Associate Editor Opus Development has secured financing for a 27-story residential development in Minneapolis, the Minneapolis / St. Paul Business Journal reports. Dave Menke, senior vice president & general manager of Opus Development, confirmed the company has sealed a financing deal with an unnamed large regional bank. He said demolition work is […]
Complex Redesign Project Announced for NYC’s Historic Pier 17
Howard Hughes Corporation (HHC)—a company that owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S.—and the New York City Economic Development Corporation (NYCEDC) have reached an agreement for a multi-year revitalization project of a 195,000-square-foot building at South Street Seaport, one of Manhattan’s most popular areas. South Street Seaport dates back to the 1600’s and was recently named the 26th most-visited tourist attraction in the world by Travel & Leisure Magazine.
Alta Bates Summit Medical Center’s New Parking Structure Unveiled
By Alex Girda, Associate Editor The Alta Bates Summit Medical Center in Oakland has an ongoing expansion project that is apparently starting to get serious attention as one of the early phases of development was recently opened to the public. The Summit Campus’ new parking structure was opened recently and is a reminder of the […]
Branch Design Breaks Ground on 176-Unit Market-Rate Apartments in Sante Fe
Branch Design and Development announced it would break ground on the 176-unit San Isidro Apartments in Santa Fe this week. The New Mexican reported that this was Santa Fe’s first large market-rate apartment community in 15 years. The financing for the project is provided by Key Bank Real Estate Capital, while the construction and permanent loan is guaranteed by the U.S. Department of Housing and Urban Development, the New Mexico Business Weekly reported.
Chesapeake Lodging Trust Acquires W Chicago-Lakeshore Hotel
By Gabriel Circiog, Associate Editor Chesapeake Lodging Trust announced that it has purchased the W Chicago-Lakeshore hotel from Starwood Hotels & Resorts Worldwide Inc. The Annapolis-based real estate investment trust paid $126 million, or around $242,000 per key, for the 32-story hotel. Located at 644 North Lake Shore Dr. overlooking Lake Michigan, the luxury property […]
Grand Peak Properties Revives Transit-Oriented Development Project
By Gabriel Circiog, Associate Editor Grand Peaks Properties is set to revive a transit-oriented development project in northern Douglas County, Our Colorado News reports. Paul Herskowitz, senior vice president of Grand Peak Properties, said construction of the project was set to begin in 2008 but, due to the economic crisis—which took its toll on the […]
South Market PILOT Approved
By Eliza Theiss, Associate Editor South Market District, one of the most ambitious private-sector projects since Hurricane Katrina, took a major step forward last week. The Industrial Development Board (IDB) of New Orleans gave its unanimous, albeit preliminary, approval for a payment in lieu of taxes financing package for the first development phase of the mixed-use […]
State Green-Lights Queen’s Acquisition of Shuttered Ewa Facility
By Adriana Pop, Associate Editor Hawaii’s Health Planning and Development Agency has approved the sale of Hawaii Medical Center West in Ewa to Queen’s Health Systems for $73.2 million. According to the Honolulu Star-Advertiser, Queen’s Health Systems will spend $21.2 million to purchase the West Oahu hospital building and land from St. Francis Healthcare System […]
GID Kick-Starts Regent Square Project with Luxury Apartment Tower
By Georgiana Mihaila, Associate Editor GID Development Group’s 4.2 million-square-foot mixed-use Regent Square development now has a starting point, as the company has begun construction on The Sovereign high-rise apartment tower. The 290-unit luxury tower is to be set in the very heart of the Inner Loop at 3233 W. Dallas; its 21 stories will […]
Kraus-Anderson Plans to Build 204-Unit Market-Rate Apartment Complex
By Gabriel Circiog, Associate Editor Kraus-Anderson Construction Co. announced plans to build a new $39 million apartment complex in downtown Minneapolis’ historic Warehouse District. Located at 800 N. Third St., the new 266,000-square-foot apartment complex was designed by locally based UrbanWorks Architecture L.L.C. Third North, a six-story complex, will feature 204 apartment units ranging in […]