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A Compromise in Cambridge: Public-Private Partnership Results in Affordable Homes
After years of nurturing a controversial affordable housing project through the planning and approval stages, as well as overcoming legal battles and the recession, Lori Cowles finally gets to watch it go up before her eyes in Cambridge.
Collier Cos. Buys Tampa Apartments, Plans Student Housing on Site
The Collier Cos. of Gainesville, Fla., has acquired the 100-unit Sunset Square Apartments in north Tampa for $6.4 million from Sunset Square Blackhawk Realty Advisors.
Economy Watch: QE3 on Its Way Out
The Federal Reserve’s massive, two-year stimulus of the economy—occasionally still called QE3—is now set to ride off into the sunset, according to the latest minutes of the Federal Open Market Committee.
TODAY’S DEALS: HFF Completes Sale of $900M Portfolio with L.A. Condo Disposition
HFF sells a 271-unit and wraps up a portfolio sale on behalf of ST Residential; NorthMarq Capital arranges $43.5 million for a Security Properties acquisition; and Hamilton Zanze sells an Austin apartment community.
LEI Acquires 228-unit Community in Newark, Del.
Lowe Enterprises Investors, on behalf of an investment client, has announced that it has purchased the 18.5-acre, 228-unit Christina Mill Apartments in Newark, Del. from Korman Residential for an undisclosed price.
Dominium Develops Affordable Senior Community in Suburban Minneapolis
Minneapolis-based Dominium, an owner, developer and manager of apartment communities across the country, has announced the construction of a new independent seniors affordable housing community called The Cavanaugh.
Economy Watch: Consumer Credit Still Growing
U.S. consumer credit rose at an annualized 7.4 percent in May compared, according to the Federal Reserve. That’s a sizable increase, but not as much as in April, when the annualized increase was 10 percent.