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NEW YORK CITY-Related Co.'s request for a $328-million tax exemption on its Hudson Yards development project on the West Side was approved on Tuesday by the New York City Industrial Development Agency.
NEW YORK CITY-Democratic mayoral nominee Bill de Blasio's plan to mandate developers to include below market rate housing in projects being built in newly rezoned neighborhoods has received praise from some housing officials, while raising some concern in real estate circles.
ATLANTA-In another deal to assemble land for its future corporate campus, State Farm Insurance Co, has purchased a site that was once part of the big Perimeter office and land portfolio for $32 million.
CHICAGO-The retail vacancy rate in Chicago in the third quarter rose for the first time since 2009. The rate rose slightly to 8.9%, according to a report released by CBRE Inc.
RUSKIN, FL-The development of a new distribution center for Amazon.com will create numerous business opportunities in the area, real estate brokers say.
PHILADELPHIA-The Delaware River Waterfront Corp. and design firm Hargreaves Associates will unveil preliminary designs for the redevelopment of Penn's Landing on Tuesday.
WASHINGTON, DC-With the recession in the rear view mirror, developers are now busy building new office and multifamily projects in the district. The pipeline of new product coming on line will strain and could possibly overwhelm the Metro system.