News
SOM Brings Green to Tech City in Vietnam
Da Nang City, Vietnam–A new master plan for a green city situated on the edge of the Danang in Vietnam has been unveiled by Skidmore, Owings & Merrill LLP (SOM).
Marazzi Sustains Energy-Efficient Building Façades
The system reduces energy costs by one third as well as installation time.
Historic Landmark Begins Transformation into Artist Lofts in New Orleans
New Orleans–It has been nearly six years since New Orleans was hit by a devastating hurricane, but the post-Katrina revitalization of the City continues and a former condiment factory is going to play its part.
Cuts in HUD Funding Mean Less Housing for the Needy
This week, the House passed FY 2011 Continuing Appropriations Act (HR 1473) to fund the federal government for this fiscal year. The shrinkage in the federal budget, amounting to $2.8 billion in HUD program funding, will result in low-income households losing access to affordable housing.”
Abode Begins Work on SoCal Affordable Seniors Housing Projects
Los Angeles–Abode Communities broke ground recently on two new affordable seniors housing projects in greater Los Angeles, Terra Bella in Bell Gardens and Hudson Oaks in Pasadena.
TODAY’S DEALS: Investors Savings Bank Closes $23.8M Loan for N.J. Community
Investors Savings Bank provides $23.8 million for Verona, N.J., apartments; Berkadia originates $85M for an apartment co-op in Santa Monica; and Largo Group arranges $8.5 million in financing for Ohio apartments; and
Upscale Apartment Project in D.C. Attracts Mayor’s Attention
Washington, D.C.–Rhode Island Row, a 274-unit apartment project in the midst of being developed by Urban Atlantic and A&R Development Corp. in Washington, D.C., recently grabbed the attention of the city’s Mayor, Vincent C. Gray, who visited the $107 million luxury residential project’s construction site on April 5.
Economy Watch: CPI Heads Upward in March
The U.S. Consumer Price Index jumped 0.5 percent from February to March, according to the Bureau of Labor Statistics, and was up 2.7 percent compared with March 2010
TODAY’S DEALS: Marcus & Millichap Sells REO Property
Marcus & Millichap brokers the sale of an REO asset in Jackson, Miss.; HFF sells a loan secured by a 1.78-acrea Miami development site; and Eastern Consolidated arranges a joint venutre for the conversion of an office buiding.
New York City Residential Market Sees Positive Signs, But Multifamily Foreclosures Increased, Says Report
New York–Like anywhere else, New York has suffered the slings and arrows of the recession and housing slump, but according to the latest report by the Furman Center for Real Estate & Urban Policy, some positive signs emerged last year.