Ground Broken for Mixed-Use CityCenterDC in Heart of D.C.
Washington, DC–Hines and Archstone broke ground this week on the CityCenterDC development, a mixed-use project on 10 acres in downtown Washington.
Economy Watch: One Hard Budget Vote Down, More to Come
As the world well knows, the federal government didn’t shut down over the weekend. A deal was done practically at zero hour, meaning that federal workers will be at work on Monday morning, $39 billion (or about 1/1000) of the federal budget will disappear, and tourists will have something to do in D.C. this week.
Ground Broken for Mixed-Use CityCenterDC in Heart of D.C.
Washington, DC–Hines and Archstone broke ground this week on the CityCenterDC development, a mixed-use project on 10 acres in downtown Washington.
Economy Watch: Consumers in a Buying Mood
Retail sales came in strong in March; home prices have yet to find their bottom; and members of Congress continue their bickering without reaching a budget agreement.
Champion Plans Hollywood TOD Project
Hollywood, Calif.–West Los Angeles-based Champion Real Estate Co. has bought a five-building, mixed-use complex in Hollywood out of receivership for $20 million.
East St. Louis Housing Authority Closes New Markets Tax Credit Deal
East St. Louis, Ill.–The East St. Louis Housing Authority has closed a complex and novel NMTC transaction that will fund the mixed-use Jazz @ Walter Circle project.
NAHMA Recognizes Multifamily ‘Communities of Quality’
Denver–NAHMA recognizes multifamily management companies that have at least 50 percent of their affordable housing portfolios accepted into the organization’s Communities of Quality recognition program.
Economy Watch: 50,000 McJobs?
McDonalds plans to hire 50,000 workers on April 19; Geithner warns Congress about the consequences of hitting the debt ceiling; and Bernanke downplays inflation.
Extell’s Riverside Center on Track for Late 2010s Completion
New York–The 3 million square-foot mixed-use Riverside Center is on track, and will include 2,500 apartment units and a 250-room hotel.
Improved Assets Mean Improved Community: Harlem Multifamily Owner
New York–In light of planning grants through the new Choice Neighborhoods Initiative, private multifamily owners are eager to point out how their own investments in multifamily properties can improve neighborhoods and quality of life.