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Kresge Foundation’s $5 Million Initiative Supports Transformation of Detroit Neighborhoods

Kresge Foundation’s $5 Million Initiative Supports Transformation of Detroit Neighborhoods

By Veronica Grecu, Associate Editor Now that the revitalization effort in Detroit’s financial core is building momentum—the M-1 RAIL Streetcar project broke ground recently as an unprecedented, $140 million venture between privately held businesses, philanthropic organizations and local authorities—solutions are being put on the table to help the city’s communities and…

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State Approves $10M Subsidy Package for Pittsburgh’s Almono-Hazelwood Brownfield

State Approves $10M Subsidy Package for Pittsburgh’s Almono-Hazelwood Brownfield

By Adriana Pop, Associate Editor Pennsylvania Gov. Tom Corbett has announced $10 million in state funding to help support the approximately $1 billion redevelopment of the former LTV Steel site along the Monongahela River in Hazelwood. The subsidies, which include a $5 million Economic Growth Initiative grant and a $5…

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DRA Advisors and Bell Partners Sell 706 Multifamily Units to Lone Star Funds

DRA Advisors and Bell Partners Sell 706 Multifamily Units to Lone Star Funds

Lone Star Funds has seemingly taken a liking to the Nashville real estate market. Following the recent acquisition of two Nashville area hotels, the company has now acquired two multifamily properties…

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888 San Mateo Receives LEED Platinum Certification from the US Green Building Council

888 San Mateo Receives LEED Platinum Certification from the US Green Building Council

A residential community in San Mateo was recently awarded LEED Platinum certification by the United States Green Building Council. 888 San Mateo is a residential community owned and developed by the Sares Regis Group of Northern California. The announcement means that 888 San Mateo is only the sixth residential community…

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Radisson Hotel Schaumburg to Open in Suburban Chicago in 2015

Radisson Hotel Schaumburg to Open in Suburban Chicago in 2015

Radisson, a subsidiary of the Carlson Rezidor Hotel Group, recently announced the signing of the Radisson Hotel Schaumburg, a 137-room hotel to open in 2015 in Schaumburg, Ill.…

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RADCO Pays $28.2M for Summit at Thornton Apartment Community in Metro Denver

RADCO Pays $28.2M for Summit at Thornton Apartment Community in Metro Denver

The RADCO Companies recently announced the purchase of Summit at Thornton, a 322-unit apartment community in Thornton, Adams County, Co.…

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Team of OMA + OLIN Wins 11th Street Bridge Park Design Competition

Team of OMA + OLIN Wins 11th Street Bridge Park Design Competition

When the 11th Street Bridge Park Design competition launched on March 20, 2014, more than 80 companies representing 41 landscape architect/architect teams submitted their proposals to transform an old freeway bridge into the D.C.’s first elevated park, over the Anacostia River. Now, after seven months, the winner has finally been…

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Hyatt Hotels Sells Park Hyatt Washington for $100M

Hyatt Hotels Sells Park Hyatt Washington for $100M

Just weeks after announcing the sale of a 38-property portfolio to Lone Star Funds for about $590 million, Hyatt Hotels Corporation has completed another important transaction. At the start of the month, the company sold the Park Hyatt Washington to a joint venture comprised of Westmont Hospitality Group and Thomas…

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City of Minneapolis Seeks Nicollet Hotel Block Developer

City of Minneapolis Seeks Nicollet Hotel Block Developer

The City of Minneapolis is currently requesting proposals for the development of a mixed-use project at 30 Third St. South in the city’s downtown neighborhood.…

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Avalon Development Celebrates Construction Start on $165M Hawaii Kai Apartment Complex

Avalon Development Celebrates Construction Start on $165M Hawaii Kai Apartment Complex

Construction on a 269-unit Hawaii Kai residential rental project that was initially planned as a luxury condominium complex is set to begin this Friday, with a groundbreaking ceremony.…

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$120M Hyatt House to Open in 24-Story CBD Office Building

$120M Hyatt House to Open in 24-Story CBD Office Building

Hyatt Hotels Corporation has announced the development of a new Hyatt property in New Orleans. Set to open in 2015 at 1250 Poydras Street, the new Hyatt location will operate under the Hyatt House brand, New Orleans’ first.…

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Prime Residential Acquires Two Seatac Residential Communities, Breaks South King County Record for Per-Unit Price

Prime Residential Acquires Two Seatac Residential Communities, Breaks South King County Record for Per-Unit Price

While the city of Seattle has held the spotlight in terms of residential deals, records seem to be falling elsewhere in King County. The current per-unit record fee in South King County was recently shattered as the 140-unit Belvedere Apartments community was acquired by Prime Residential for $28 million, or…

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