Northeast
Economy Watch: Consumer Income Up, Spending Down
The Bureau of Economic Analysis reported that Americans’ personal income increased $43.7 billion, or 0.3 percent, in April compared with March.
NYC’s First Modular Multi-Story Property Opens to Renters
With Douglas Elliman Development Marketing launching leasing for The Stack, Manhattan’s first modular residential building has hit the rental market.
New Joint Master Plan for Philadelphia’s 30th Street Station Underway
New York-based Skidmore, Owings & Merrill LLP (SOM), in association with Parsons Brinckerhoff, OLIN and HR&A Advisors has been selected by Amtrak, Drexel University and Brandywine Realty Trust to develop a comprehensive joint master plan for the area surrounding Philadelphia’s 30th Street Station.
Berkadia Expands Mortgage Originations Capabilities with Acquisition of Keystone Commercial Capital
Berkadia Commercial Mortgage LLC announced the acquisition of Keystone Commercial Capital, a full-service commercial mortgage banking company headquartered in Phoenix.
Boston Housing Project Redevelopment Completed
The second phase of the redevelopment of the Homes at Old Colony has been completed. The phase involved work on 129 residential units at the property, which is thought to be the nation’s oldest public housing project.
MassHousing Awards Grants for Sober Housing Development
The agency MassHousing has awarded two grants totaling $200,000 to two nonprofits to help them develop affordable “sober housing” in separate locations in Massachusetts, Fitchburg and Quincy.
IWBI Launches Peer Review Process for the WELL Building Standard
The International Well Building Institute (IWBI) today launched a peer review process for the WELL Building Standard®.
NWP Regulatory Update: Ohio & Connecticut
The Ohio Legislature has two more weeks of regular sessions before they close up shop for the year. It is possible that the legislature may reconvene for a Special Session in June, if necessary. Additionally, the Connecticut Public Utilities Regulatory Authority has requested comments to their Draft Electric Submetering Rules due on May 15, 2014.
Prism Puts Penthouse Units on Market
Prism Capital Partners, in its efforts to lease units at Parkway Lofts, its new redevelopment in Bloomfield, N.J., has unveiled the property’s one-bedroom penthouse apartments. The penthouses measure 814 square feet and include views of Manhattan or the Watchung Mountains.
Condo Sales Underway at Renovated Upper East Side Building
Sales have commenced at RFR Holding LLCs newest residential condominium, 300 East 64th Street, located in New York’s highly-sought after Upper East Side neighborhood. The 31-story building is currently the only condominium in the neighborhood offering immediate move-in opportunity.