National
Swire Reveals Shortlist of Contractors for Brickell CitiCentre Foundation
Brickell CitiCentre, likely the single-largest project currently under development in Miami, is now one step closer to fruition as developer Swire Properties recently announced the shortlist of contractors for the project’s foundation and underground parking garage.
Novare Plans New Luxury Apartment Community in Midtown
By Georgiana Mihaila, Associate Editor Novare Group’s Viewpoint condo tower will most likely get a new neighbor, as the developer has recently drafted plans for a new 23-story luxury high-rise apartment community on the northwest corner of 6th and Juniper streets. Novare has pitched its plans for 100 6th Street to the Midtown Development Committee. […]
Aragon Holdings Acquires The Fairways at Lakewood
By Gabriel Circiog, Associate Editor Beverly Hills, Calif.-based Aragon Holdings has made its twelfth acquisition in three years as the investment company confirmed the purchase of The Fairways at Lakewood. The 274-unit multifamily community, located in Lee’s Summit, was built in 2008 and is currently 94 percent occupied. The property is in close proximity to […]
Iconic Penobscot Building Sold to Canada’s Triple Properties
The foreclosed Penobscot Building located in the heart of Detroit’s Financial District was sold for an estimated price of approximately $5 million to Triple Properties, a Canada-based real estate investment company that also owns the Silverdome in Pontiac. The 47-story Art Deco building was designed by architect Wirt C. Rowland in 1928 as one of the tallest buildings in the world and the tallest structure in the city until 1977, when the 73-story Central Tower of the Renaissance Center was raised.
Bluegreen Communities Sells for $29M
By Camelia Bulea, Associate Editor SouthStar Communities acquired Bluegreen Communities for $29 million. According to the San Antonio Business Journal, the buyer took ownership of some residential communities as part of the deal , as follows: Vintage Oaks at the Vineyard and Havenwood at Hunters Crossing, both in the city of New Braunfels, which is located […]
Lowe Enterprises Investors Acquire Affinia Chicago Hotel
By Gabriel Circiog, Associate Editor The 28-story Affinia Chicago Hotel has been acquired by Lowe Enterprises Investors on behalf of an investment client. The seller, Denihan Hospitality Group, was represented by Eastdil Secured. Lowe Enterprises Investors represented itself in the transaction. Hotel management will be taken over by Destination Hotels & Resorts—an affiliate of Lowe […]
New Orleans Receives $40.1M in FEMA Repair Funds
By Eliza Theiss, Associate Editor There is still plenty to rebuild and repair in New Orleans, but FEMA grants have made a huge difference on the Crescent City’s road to recovery. Another $40 million in FEMA funds will go to specific projects in the city, reported The Times-Picayune, further helping to restore New Orleans to its […]
Carnegie Mellon University Finalizes $500M Master Plan
By Adriana Pop, Associate Editor Carnegie Mellon University’s new master plan for its campus has been approved by City Planning officials. The plan includes the development of five key projects over the next 10 years, at an estimated cost of $500 million. The Pittsburgh Business Times reports that the first development proposes a $70 million […]
Hawaii’s First Seawater Air-Conditioning Project to Start Construction
by Adriana Pop, Associate Editor Honolulu Seawater Air Conditioning, LLC (HSWAC) is moving closer to begin construction on the state’s first seawater air-conditioning district cooling project. The Pacific Business News reports that the company is one month from choosing contractors to develop the $250 million renewable energy system in Kakaako. The seawater air conditioning firm […]
Posty Cards Inc. Earns LEED Platinum Certification
By Gabriel Circiog, Associate Editor A small Kansas City manufacturer, Posty Cards Inc., attained the highest level of sustainable certification on April 16 when it was awarded the U.S. Green Building Council’s LEED platinum certification. Located at 1600 Olive St. in Kansas City’s urban core, Posty Cards’ facility underwent a $6.4 million renovation and expansion […]