Mixed-use
Some Good News for Struggling Vegas Development Market as CityCenter Clears Hurdle
May 01, 2009
Las Vegas’ struggling development market is breathing a bit easier, now that co-developers MGM Mirage and Dubai World have buried the hatchet over the massive CityCenter mixed-use project there. The $8.5 billion development looks to be on its way to completion now that the developers have agreed to a deal with lenders for the financing of the remainder of construction.
300,000-SF Mixed-Use Project Breaks Ground in Moorpark
April 28, 2009
M.W. Ossola & Associates Inc. and Lee & Associates-LA North/Ventura have unveiled Patriot Commerce Center, Ventura County’s new premier business park. The 300,000-square-foot business park is located in Moorpark, Calif.
CityCenter Soldiers on as MGM Secures More Funding
April 16, 2009
Despite the challenging lending market and financial hurdles that led to a recent lawsuit, MGM Mirage has soldiered on in its pursuit to rake in financing to continue construction of its $8.8 billion CityCenter project on the Las Vegas Strip. The firm has secured an amendment of its credit facility, thereby paving the way for the company to pay the $70 million in construction costs due for the 18 million-square-foot mixed-use development no later than April 17.
New Urbanism Faces Challenges in Dallas, Nationwide
April 07, 2009
“New Urbanism" development--creating mixed-use projects where people can live, work and play--is less about money-making ventures and more about preventing urban sprawl and congested freeways, according to many proponents of the concept. New Urbanism was the subject of a recent presentation by Andrés Duany, founding principal at Duany Plater Zyberk & Co., at an event hosted by the Congress for the New Urbanism at Southern Methodist University in Dallas.
Despite Economy, Plans Move Ahead for $1B L.A. Mixed-Use
April 06, 2009
What recession? Even in bustling Los Angeles, demand for office, condo and hotel space has plunged, but Thomas Properties Group, which was just selected by Korean Air to develop the airline company's $1 billion mixed-use project in the city, is undaunted by today's economic conditions and hopeful about the future.
More Development Struggles as Dallas Project Hits Snag
March 26, 2009
As the commercial development market continues to struggle, yet another project may be in jeopardy. The $1 billion Victory Park near Downtown Dallas may be at risk of defaulting on a $185 million debt owed to German investors.
Development Not Dead in Baltimore
Feb. 27, 2009
While the Baltimore market has--like most areas of the country--seen a slowdown in development activity as the economy has soured, there are still a few noteworthy projects progressing as planned. Most recently, the city of Baltimore approved selling city-owned land to developers Mark Sapperstein, Benjamin Greenwald and Joseph Haskins for a new $80 million 450,000-square-foot, mixed-use development, Hyatt at City Center.
As Other NYC Projects Falter, Atlantic Yards Still on Track
Feb. 18, 2009
Amid a flurry of announcements of delayed projects in New York City, Forest City Ratner Cos. has orchestrated the $161.9 million refinancing of a loan connected to its $4 billion Atlantic Yards project in Downtown Brooklyn. Gramercy Capital Corp., which made the original loan to Brooklyn-based FCRC for the purchase of land for Atlantic Yards, provided the refinancing along with a group of co-lenders.
Archstone Joins Ranks of Firms Launching Advisory Groups in Down Economy
Feb. 11, 2009
With the ever-growing uncertainty of the economy, real estate firms are looking for ways to cash in by offering advisory services to developers. Denver-based Archstone is the latest to join the move with its unveiling of Archstone Real Estate Advisory Services, which is designed to help lenders and investors maximize the value of their multi-family and mixed-use assets.
$1B Hudson Yards Latest Development Hung Up by Rough Economy
Feb. 05, 2009
The gloomy economy has caused yet another hiccup for a major development project. The Metropolitan Transportation Authority revealed that the partnership period of conditional designation with Related Cos. and Goldman Sachs, the team the MTA selected to develop the $1 billion Hudson Yards project in New York City, has been extended one year beyond its originally agreed upon finalization date that was not to exceed Jan. 31.
General Growth Gets Green Light for 60-Acre Honolulu Project
Jan. 22, 2009
A plan for a mixed-use community in Honolulu has just received the approval of the Hawaii Community Development Authority. The development, proposed by Chicago-based General Growth Properties Inc. affiliate Victoria Ward Ltd., will span 60 acres and ultimately encompass approximately 17.3 million square feet of commercial and multi-family space.
Atlanta Mixed-Use Lands First Office Tenants
Jan. 20, 2009
After performing quite respectably in the face of a weak 2008 office market, Atlanta’s Midtown district is showing early signs of picking up where it left off. The $2 billion 12th & Midtown project has landed a pair of blue-chip professional services firms as its first office tenants.
GenCorp’s Mixed-Use Project Takes Next Big Steps
Dec. 23, 2008
Sacramento County’s supervisory board has unanimously approved the final environmental impact report for GenCorp Inc.’s 1,400-acre mixed-use project and amendments to the county’s general plan for the project.
Next Century Plans $2B Mixed-Use Project in Los Angeles
Dec. 19, 2008
Next Century Associates has unveiled a proposal to build a $2 billion mixed-use property in Los Angeles' Century Plaza, on the current site of the Century Plaza Hotel. The redevelopment proposal entails razing the 19-story hotel and replacing it with a pair of towers.
Developers Break Ground on $210M Residential, Retail Project in Jersey City
Dec. 17, 2008
Construction has begun on a $210 million development in Jersey City, N.J., that will feature two 47-story towers with a total of 524 rental apartments and 11,000 square feet of ground-floor retail space. Monaco Towers, developed jointly by Roseland Properties of Short Hills, N.J., and Garden State Developers of Jersey City, had originally been planned as a condominium property but will now offer rental apartments.
Learn About Shopping Center Investment News
The commercial real estate industry depends upon partnerships between commercial and residential mixed-use real estate players to be successful. CPN reports on property types such as shopping center investments and how they are affected in the current commercial real estate climate. For the best in retail sector news, read Commercial Property News.
|
