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$350M Jersey City Mixed-Use Project Underway
Work has begun on the Monticello, a $350 million redevelopment project in Jersey City, N.J.
Some Good News for Struggling Vegas Development Market as CityCenter Clears Hurdle
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.
228,000-SF Rockville Office Building Sold
Cassidy & Pinkard Colliers arranged the sale of One Choke Cherry, a 228,020-square-foot Class A office building located in Rockville, Md.
300,000-SF Mixed-Use Project Breaks Ground in  Moorpark
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.
Boston Properties Completes $215M Construction Financing for Russia Wharf
Boston Properties Inc. has completed the five-year, $215 million construction financing for its Russia Wharf development located in Boston, Mass.
MGM Mirage CityCenter Soldiers on as MGM Secures More Funding
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.
babcock ranch Another Green Milestone as Solar-Powered City Takes Shape in Florida
Just days after news that the Empire State Building would undergo an environmentally sustainable retrofit, green development has reached another milestone, with the unveiling of a plan to develop the world's first solar-powered city.
New Urbanism Faces Challenges in Dallas, Nationwide
“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.
wilshire grand Despite Economy, Plans Move Ahead for $1B L.A. Mixed-Use
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.
Korean Air Retains Thomas Properties for $1B Redevelopment of Los Angeles Mixed-Use
Korean Air has selected Thomas Properties Group Inc. to develop a $1 billion mixed-use redevelopment plan for the nearly three-acre Wilshire Grand Hotel in Los Angeles, Calif.
More Development Struggles as Dallas Project Hits Snag
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.
StarPoint Acquires The Tower Complex in Fort Worth
StarPoint Commercial Properties L.L.C. has purchased The Tower Complex, located at 500 Throckmorton Street in Downtown Fort Worth, Tex.
BentleyForbes Selects Savills to Market The Watergate Office Tower Sale
Savills L.L.C. has been exclusively retained by BentleyForbes to market the sale of The Watergate Office Tower, Retail Promenade and Parking Facility.  The property is located in Washington, D.C.’s West End/Georgetown sub-market.
Callison Selected as Master Planner for $10B Mixed-Use Development in Jordan
Callison has been selected as master planner for the conceptual phase of the $10 billion Marsa Zayed project located in Aqaba, Jordan.
harbor point Development Not Dead in Baltimore
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
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
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
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.
CityPlace South Tower Moss & Associates Completes $106M Florida Tower
Moss & Associates finished construction of the CityPlace South Tower (pictured), a $106 million mixed-use development in West Palm Beach, Fla.
ggp honolulu General Growth Gets Green Light for 60-Acre Honolulu Project
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.
12th & Midtown Atlanta Mixed-Use Lands First Office Tenants
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
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.
Dallas OKs First TIF District Focused on Multi-Station Transit Development
Millions of square feet of mixed-use development could be built near Dallas’ light rail stations in the future as part of the city’s first Tax Increment Financing district that links multiple stations and covers nearly 600 acres.
la project Next Century Plans $2B Mixed-Use Project in Los Angeles
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
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.
 

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