NEW YORK CITY-The Department of Housing and Urban Development approves a $176-million plan that will aid in the demolition of the Deutsche Bank building as well as earmark funds for the Sept. 11 memorial and cultural venues.

NEW YORK CITY-The Times Square Paramount Hotel sells to Lifestar Hotels in a deal valued at $126.5 million. After a massive renovation, the hotel will be rebranded as the Hard Rock Hotel, New York.

NEW YORK CITY-MSD Capital, a fund dealing solely with the capital of computer tycoon Michael Dell and family, launches a real-estate investment arm and is dedicating $1 billion toward that aim. The fund made its first purchase--the 377-room Four Seasons Maui at Wailea.

NEW YORK CITY-The alliance aims to offer complementary services pairing each company's forte to provide flexible solutions for corporations across the spectrum. Global CEO Steve McNeely says the alliance aims to fill a need clients are "screaming" for.

BROOKLYN, NY-A plan to revitalize the Downtown area of this borough was adopted. The endeavor aims to revitalize the area, which offers as much office space as Atlanta and St. Louis.

NEW YORK CITY-CB Richard Ellis president Brett White says the company is "very comfortable" with the newly public company's capital structure. The real estate services firm is using net proceeds from its recent IPO to pay down a portion of its debt.

NEW YORK CITY-A development team beat out a dozen competitors for the rights to erect a 537,400-sf "green" condo tower on the last waterfront site in Battery Park City. The project is expected to cost approximately $250 million.

NEW YORK CITY-An executive with Silverstein Properties World Trade Center LLC called for the more than $3.5 billion remaining in the Liberty Bond pool to be allocated specifically for possible use on the rebuilding of the World Trade Center site.