National
New Senior Housing Coming to West Baltimore
By Adrian Maties, Associate Editor Enterprise Homes and Capital One Bank broke ground on Thursday, June 7, on The Greens at Irvington Mews, Baltimore’s newest senior housing development. Baltimore Mayor Stephanie Rawlings-Blake, Secretary Skinner, Enterprise Homes President Chickie Grayson and other officials attended the ceremony. Located on the city’s west side, just across the street […]
Mayoral Candidate Cayetano Promises to Stop Rail Project
by Adriana Pop, Associate Editor If elected, Honolulu mayoral candidate and former Gov. Ben Cayetano intends to cancel the $5.2 billion elevated rapid-transit rail project. Cayetano told the Pacific Business News that the development could be stopped through a veto of the appropriation for the Honolulu Authority for Rapid Transportation. The rail line, covering a 20 […]
MGM Grand Detroit Casino to Be Redeveloped as Detroit Public Safety Headquarters
By Veronica Grecu, Associate Editor During an official ceremony held last week at the former MGM Grand Detroit Casino building, Mayor Dave Bing and Police Chief Ralph Godbee broke ground on the new public safety headquarters for Detroit’s police and fire departments. Built by Las Vegas-based MGM MIRAGE and local investment group Partners Detroit, the […]
Wells Fargo, Pappas Properties to Develop Foreclosed Masterplanned Community
by Adriana Pop, Associate Editor Wells Fargo Bank and developer Pappas Properties of Charlotte are planning to restart a 24-acre master-planned development that the bank had earlier foreclosed upon. According to the Triangle Business Journal, Pappas and the bank have jointly filed a a new master plan proposal and a rezoning request for the 24-acre site known as […]
MB Real Estate Expands Leasing Portfolio in Downtown Chicago
By Gabriel Circiog, Associate Editor MB Real Estate has announced the expansion of its leasing portfolio to over 14.4 million square feet. The Chicago-based company, founded in 1982, has been awarded five new leasing assignments in downtown Chicago. The new additions include 300 E. Randolph—a 57-story tower owned and anchored by Health Care Service Corporation. […]
Transit-Oriented Affordable Housing Development to Break Ground at Evans Light Rail Station
By Gabriel Circiog, Associate Editor The Urban Land Conservancy has sold a parcel of land at the Evans Light Rail Station for the construction of a mixed-use, transit-oriented development. The one-acre property, located along Denver’s Southwest light rail corridor at 2140 S. Delaware St., was originally acquired by the ULC in June 2011 through Denver’s […]
L.A.’s Biggest Apartment Project Since 2008 Under Way
By Alex Girda, Associate Editor J.H. Snyder Co. broke ground late last month on a $200 million multi-family rental project that is the largest of its kind in Los Angeles since the recession began in earnest four years ago. Dubbed the Vermont, the property will encompass 464 rental units in 29-story and 23-story residential towers. In […]
Texas Biomedical Research Institute Breaks Ground on 70,000-SF Lab Complex
By Camelia Bulea, Associate Editor The Texas Biomedical Research Institute has broken ground on a 70,000-square-foot complex that will house 15 research laboratories. The $26.5 million building will provide eight laboratories for the institute’s federally designated Southwest National Primate Research Center (SNPRC), which conducts research on tuberculosis, heart disease, diabetes and AIDS, according to the San […]
California Pension Fund Acquires Statler Arms
By Adrian Maties, Associate Editor The California State Teachers’ Retirement System acquired a majority stake in LCOR, a Berwyn, Pa.-based unit of the defunct financial giant Lehman Brothers Holdings Inc. Included in the more-than-$800 million transaction are 14 apartment buildings totaling 5,000 units and including Statler Arms Apartments in Downtown Cleveland. The Statler is located […]
Cincinnati’s 309 Vine to Get $15M Makeover
By Adrian Maties, Associate Editor The annex building that supplements the 31-story PNC Tower will soon get a $15 million makeover. With construction ongoing at the nearby Banks development, downtown Cincinnati is seeing a lot of activity lately. This new renovation project will bring life back to an important area of downtown Cincinnati and spawn development […]