Regions
Yonkers IDA Green-Lights Incentives for Modern Affordable Housing
Yonkers, NY–The Yonkers Industrial Development Agency has finalized a set of economic development incentives that will facilitate the construction of a seven-story, 77-unit affordable-housing apartment building in the city.
TODAY’S DEALS: JV Development Group Breaks Ground on Dallas Mixed-Use Project
A JV has started contruction on a new mixed-use development in Dallas; NAI brokers the aquisition of 119-unit property to be converted to affordable housing for seniors; and NorthMarq Capital arranges a $27.5 million mortgage for a 444-unit apartment complex in Virginia.
$26M L.A. Housing Project for Formerly Homeless and Incarcerated Opens Its Doors
Los Angeles–The dearth of accommodations for the formerly homeless and previously incarcerated is massive. The Dolores McCoy Villa in the Watts community of Los Angeles helps to fill that hole.
Eminent Domain Process Set to Begin in ‘Iron Triangle’
New York–The eminent-domain land seizure in Willets Point, N.Y., a spot known locally as the “Iron Triangle,” is set to begin next week, and not without controversy.
WEB FEATURE: Compensation Trends in Multifamily
After a couple tough years of trimming budgets and tightening belts, the commercial real estate industry is seeing compensation and hiring return to pre-crash levels, with the multifamily sector showing exceptional stability.
TODAY’S DEALS: HFF Secures $53M in Financing for Mixed-Use D.C. Apartment
Holiday Fenoglio Fowler has secured $53 million in financing for a 231-unit mixed-use project in Washington, D.C.; A Woods Partners development was completed in Massachusetts; and NCB deploys capital to support low- and moderate-income communities.
Economy Watch: Retailers See Strong Sales in January
Winter woes did not stop consumers from spending in January; Bernanke reports good news for economic recovery, with one caveat; and ISM’s Non-Manufacturing Index shows some industries on the uptick as well.
Plans Revealed for First Phase of Residential Village at Sanctuary Belize
Stann Creek District, Belize– EcoFuture has revealed the $25 million Phase I Master Plan for the Marina Village, the focal point of Sanctuary Belize.
MARKET SNAPSHOT: Institutional and Private Buyers Eye Austin Apartments for Investment Opportunities
Austin, Texas–Austin is poised for an extremely strong economic recovery, according to ARA’s Year-End 2010 Austin market report.
ICP Financial Goes Hunting for Distressed Properties
Boulder, Colo.–Investment specialist ICP Financial has inked a $4.8 billion deal with an unnamed but large European bank to buy distressed properties and mortgage portfolios directly from American banks.