News
Ground Breaking for New 9/11 Memorial in N.J.
Weehawken, N.J.–Weehawken Mayor Richard Turner is leading officials from the Port Authority, Port Imperial Master Developer Roseland Property Company and other dignitaries today in ground-breaking ceremonies for a new 9/11 memorial to be built along the Hudson River in Weehawken.
Echo Boomers Transform Multifamily Expectations
This new generation of renter poses challenges to old assumptions as well as burgeoning opportunities for multifamily housing’s future.
Mixed-Use, Mixed-Income Apartment Project in D.C. Makes Its Debut
Washington, D.C.–3Tree Flats, a mixed-use residential, transit-oriented development, has opened in Washington, D.C.’s Petworth Neighborhood.
Economy Watch: Housing Starts See Modest Rise in March
Housing starts experienced an unexpected uptick in March; unemployment dropped in two-thirds of U.S. states; and a jury finds Lee Farkas guilty of multiple counts of bank fraud.
AMCAL Promotes Ramirez to EVP
Agoura Hills, Calif.–AMCAL Multi-Housing Inc., A California-based workforce housing builder, has promoted Maurice Ramirez to executive vice president.
Summit Design + Build Hits Restart on Stalled Chicago Apartment Project
Chicago–Development of the luxury apartment building in Chicago’s Wicker Park neighborhood is back underway now that Summit Design + Build L.L.C. has stepped in and taken the construction reins.
Fieldstone Seeks TIF for Massive Multifamily Renovation
Greenbelt, Md.–Fieldstone Properties has decided to seek about $15 million in tax-increment financing for a variety of public infrastructure improvements to a massive 153-acre rental apartment and townhome property.
TODAY’S DEALS: Grandbridge Secures $4.8M Mortgage for Waukesha Apartments
Granbridge Real Estate Capital originates a $4.8 million Fannie Mae loan; Boston Capital invests in renovations at two Maryland seniors communities; and IPA Partners acquires 18 acres for a 332-unit development in Arizona.
Starwood and Meier Collaborate on Mexico City Mixed-Use LEED Project
Mexico City–Starwood Hotels and Resorts plans on adding another contemporary, design-conscious W Hotel to its portfolio, the centerpiece of the new mixed-use development Liberty Plaza.
Economy Watch: Ratings Agency Casts Cold Eye on U.S. Debt
Standard & Poor’s downgrades its rating of U.S. debt; homebuilder confidence slips even more; and a growing party in the Finnish government wants to cut off E.U. bailouts.