Economy Watch: Asian Markets Get U.S. Debt Ceiling Blues
Equities markets in Asia reflect worry over U.S. default; Jefferson County, Alabama, may vote on Chapter 9 bankruptcy; and a Gallup poll shows Americans feeling grim about the economy.
New Apartments Break Ground North of Tampa
Pasco County, Fla.–The Altman Cos. has broken ground on Altís at Grand Cypress, an apartment property with 17 two-story buildings totaling 258 units north of Tampa.
Wood Partners Begins Work on San Diego County Apartments
San Marcos, Calif.–Wood Partners has broken ground on a 108-unit apartment property near San Diego and within walking distance of the local light-rail system.
Historic Jacksonville Junior High Property Now Condos
Jacksonville–A former junior high school, which closed in 1997 and sat vacant for more than a decade afterwards, has been renovated into condominiums, which are now for sale.
Economy Watch: Housing Starts Shoot Up in June
Housing starts last month were higher than they’d been in the previous five; Capitol Hill’s Gang of Six proposes a deficit-cutting, ceiling-raising plan; and AP uncovers that robo-signing is still happening.
Ground Broken for New Seattle Apartments
Seattle–Holland Partner Group and Capstone Partners L.L.C. have broken ground on a 284-unit mid-rise apartment building in the South Lake Union neighborhood of Seattle.
Economy Watch: Homebuilders a Little Less Glum
U.S. homebuilders are feeling a little more confident this month than last; Obama appoints Richard Cordray to head the Consumer Financial Protection Bureau; and the debt ceiling looms.
Foster to Design Massive Project on Toronto Lakefront
Toronto–The joint venture 3C Lakeshore Inc. has picked Foster + Partners to design its new Toronto waterfront project, which will include about 2,000 residential units.
Economy Watch: Congress Still Stuck in the Debt-Ceiling Morass
Congress dithers while everyone, including China, urges them to get their act together; retail sales inched up in June; and the PPI index for finished goods continues to drop.
Work Begins on Affordable Seniors Housing in Gurnee
Gurnee, Ill.–Credit Capital L.L.C., together with partner Richman Group, have underwritten a $20.2 million private equity investment to construct an affordable seniors-housing complex.