Business Specialties Development
State Announces $25M in Funds for Building, Refurbishing Affordable Housing
May 8, 2008

New York State's push to increase its pool of affordable housing marches on as Gov. David A. Paterson announces that $25.5 million in grants and financing will be doled out for the renovation of 396 multifamily units in communities across New York City and in the western portion of the state.  Among the properties that will benefit is the 125-unit Caroline Apartments in Manhattan's Inwood neighborhood, which will be submitted to an $18 million upgrade. Approximately $2.6 million will be contributed for the development of 87 co-op units at a mixed-use project in East Harlem, and another $1.6 million will be used to construct a 54-unit condominium project in the Bronx. Residential properties in Brooklyn and Buffalo, as well as Cattaraugus, Wyoming and southern Erie counties will also receive funds for improvements.

 
Recent Development Headlines
Trio of Projects to Bring 1.7M SF to Suburban DC
July 23, 2008
The souring economy hasn't altogether dampened development activity. In the Washington, D.C., suburb of Arlington, Va., news has emerged about three new office and mixed-use projects that will bring a total of 1.7 million square feet to an area just minutes from the District.
Las Vegas Sands Puts Kibosh on Kansas Casino Proposal
July 23, 2008
Ten months after submitting a proposal to the Unified Government of Wyandotte County/Kansas City for the development of a $750 million resort casino, Las Vegas Sands Corp. has taken itself out of the game with the abandonment of its bid for a gaming license in Kansas.
air cargo centre II Trammell Crow Brings Air CargoCentre II Online in Houston
July 23, 2008
Trammell Crow Co. has opened a new 61,500-square-foot air cargo handling facility at the George Bush Intercontinental Airport in Houston (IAH). The cost of the facility was not disclosed.
Palm Beach County Board Approves $87M Grant for Planck Institute
July 23, 2008
Following unanimous approval by the seven members of the Palm Beach County Board of County Commissioners, Germany's Max Planck Society is moving forward with its plan to establish an institute in the United States.
ABA Breaks Ground on $25M Hyatt Place in Roseville
July 23, 2008
ABA Development broke ground today on the $25 million six-story, 151-room Hyatt Place in Roseville, Calif.
 

 

REal Talk with Adam Perrotta
July 23, 2008
By Adam Perrotta, News Writer --It appears as though the tide of opinion calling for government aid for the foreclosure crisis has impelled President Bush to drop his opposition to a $3.9 billion housing rescue bill. Whether Bush's reversal was...

Sterling JV Pays $38M for Tampa Apartments Despite Soft Market
July 23, 2008
By Scott Baltic, Contributing Editor -- Sterling American Property Inc., in a JV with The Collier Cos., has purchased the St. Croix Apartments, a 540-unit, gated, resort-style apartment community in Tampa, for just north of $38 million. The seller was...

Trio of Projects to Bring 1.7M SF to Suburban DC
July 23, 2008
By Barbra Murray, Contributing Editor -- The souring economy hasn't altogether dampened development activity. In the Washington, D.C., suburb of Arlington, Va., news has emerged about three new office and mixed-use projects that will bring a total of 1.7 million...

Westcore Sells Vienna Office for $39M
July 23, 2008
By Thomas Peretti, Contributing Correspondent -- Westcore Properties has announced the sale of a Class A Austrian office building. The 125,000-square-foot property sold for $39.2 million (24.5 million Euros) to Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft mbH. The six-story building...

Bush Drops Resistance to Housing Bill; House Expected to Vote Today
July 23, 2008
By Erika Schnitzer, Associate Editor, Multi-Housing News -- Despite his objections over a $3.9 billion provision that would assist communities devastated by foreclosures, President George W. Bush today dropped his opposition to housing rescue legislation. He was previously threatening to...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...