Development
UCSD Awards Big Contract for La Jolla Project
General contractor Rudolph and Sletten Inc. was recently awarded an important preliminary contract for the development of a medical facility for UC San Diego Health Services in La Jolla. The company is now set to start work on an outpatient pavilion, with the contract set at around $78 million, and expected to be booked during Q3 of this year. The facility that Rudolph and Sletten Inc. is set to construct will act as support for the Jacobs Medical Center.
Balfour Beatty Completes Hollywood Mixed-Use Tower for Less than Expected
Balfour Beatty Construction recently announced that it has completed a high-end mixed-use tower in Hollywood at a considerably lower cost than was originally estimated. The company’s Southwest Division finished a project it had been developing for real estate and infrastructure investment firm CIM Group at a total cost of $76.2 million, roughly $12 million less than what was initially committed to the project. The change comes from the use of the contractor’s cast-in-place structures, as well as a re-design of the building’s mechanical, electrical and plumbing systems.
JLB Partners Open 350-Unit Allure Luxury Apartment Community
JLB Partners, LP has held a ribbon cutting ceremony for the 350-unit Allure, Charlotte’s newest luxury apartment community.
McShane Construction Reveals New Amenities in Phase III
McShane Construction has begun comprehensive construction of the Phase III expansion of The Lodge of Northbrook in Northbrook, Ill.
The Rising Tide of Millennials and What It Might Mean for CRE
It is projected that this year there will be more Millenials than Baby Boomers. What does this mean for multifamily?
Continental Seeks Rezoning to Develop M-F Project in Liberty Towship
Developers are getting ready to start work on another multifamily development in the Cincinnati area. The project calls for the construction of a 288-unit apartment complex in Liberty Office Park.
Altis Cardinal Returns to Development
Altis Cardinal has announced returning back to development with the acquisition of 10.5 acres of land in St. Petersburg, Fla.
NMHC Special Report: Working Towards Workforce Housing
A panel at the 2015 NMHC Apartment Strategies Outlook Conference tackles the shortcomings of the workforce housing space, and discusses some creative strategies to bring quality, affordable housing to the middle class.
Point/Counterpoint: The Urban Rental Housing Affordability Crisis—Does the Student Housing Model Provide an Answer?
Would the student-housing model work in the market-rate industry?
Fiesta Park
BH Properties recently renovated its affordable apartment community Fiesta Park. The community, located in Mesa, Ariz., was able to increase its occupancy by 40 percent. MHN looks at some of the stats of the successful property overhaul.