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PHILADELPHIA—A lack of inventory for residential condominiums has promoted several developers in Center City to move forward with condo projects instead of rental housing.
WAYNE, NJ—The redevelopment of the Wayne Town Center here that was delayed by the recession is now “full speed ahead” with a new Costco and Dick's Sporting Goods expected to open soon.
MACON, GA—The 224-unit Mill Creek Run apartment community here has been sold, a sign according to a broker involved in the transaction of the strength of the multifamily sector in secondary markets in Georgia.
NEW YORK CITY—Investor Sam Chang's McSam Hotel Group has acquired 334-344 West 36th St. in the Garment District, owned and occupied by the Post Graduate Center for Mental Health, for $50.75 million.
PHILADELPHIA—At the City Council session on Thursday, Councilman Kenyatta Johnson introduced a bill to extend access to the city's Longtime Owner Occupants Program (to people who live in government-subsidized housing.
TRENTON, NJ—Over the objections of the commercial real estate community, Gov. Chris Christie conditionally vetoed a bill that would have again suspended a 2.5% fee on commercial real estate projects that help finance the development of low- and moderate-income housing units in the Garden State.
TRENTON, NJ—The New Jersey Economic Development Authority authorized $64 million in incentives to keep two manufacturing companies in Paterson and Northvale from relocating across the border to locations respectively in Orange and Rockland counties in New York State.