Regions
Tower Companies Undertakes BOMA’s Green Challenge
Rockville, Md.–The Tower Cos., a developer of commercial properties, will incorporate the Building Owners and Managers Association International’s 7-Point Challenge as part of business practice, which include benchmarks such as decreasing energy consumption and employing Energy Star metrics.
Affordable Apartments Preserved in Denver’s Santa Fe Arts District
Thanks to Denver’s unique Transit-Oriented Development (TOD) Fund, 16 affordable housing units have been preserved in the heart of the Mile High City’s Santa Fe Arts District, a six-block long enclave on Denver’s near west side.
Gal Nauer Architects’ Bavli Towers Design: Benchmark of Modern Living
Tel Aviv, Israel–Tel Aviv’s Bavli neighborhood will be home to a large-scale, residential project. The Bavli Towers, comprising of six 44-story towers, are designed by Gal Nauer Architects (GNA), an international architecture firm with offices in New York and Tel Aviv.
AMCAL Receives Over $16 Million in CTCAC Funding
Agoura Hills, Calif.–The California Tax Credit Allocation Committee was awarded nearly $16.3 million to AMCAL Multi-Housing Inc., a builder of affordable and low-income housing. The funding was provided to help build three new communities across California.
TODAY’S DEALS: UDR Inc. Finalizes $138M NYC Acquisition
UDR Inc. has completed the acquisition of a 210-unit community in New York; Holliday Fenoglio Fowler arranges construction financing for a New Jersey development; and NorthMarq arranges $37.2 million Freddie Mac mortgage.
New Jersey Affordable Seniors Project Gets Green Light
Lawrenceville, N.J.–The Planning Board of the Township of Florence, N.J., has approved plans for a 66-unit affordable seniors housing development in the township. The property will replace the dilapidated Marcella Duffy School building.
Chicago’s One East Delaware Captures LEED EB Silver
Chicago–The first Chicago apartment property to earn multifamily LEED EB Silver certification from the U.S. Green Building Council is One East Delaware. The 22-year-old, 36-story, 306-unit upscale tower on the Windy City’s pricey Gold Coast is the nation’s third largest apartment community to gain the certification.
MARKET SNAPSHOT: Shadow Inventory Continues to Trouble Tucson Market
Tucson, Ariz.–The majority of Tucson investment activity is likely to involve distressed assets for the balance of 2011, according to Marcus & Millichap.
TODAY’S DEALS: HFF Lists Class A Community in St. Louis
HFF is picked to market a luxury community in St. Louis; Champion Real Estate Services purchases a $4.2 million community in central Ohio; and Jones Lang LaSalle brokers apartment sale by AMLI and Northwestern Mutual.
Architectural and Design Firm CetraRuddy Goes International
New York–CetraRuddy Inc., an architectural and design firm, recently opened an international division. Over the past three years, the firm has successfully attempted expansion in India and Great Britain.