Development

The modernization of Riddle Hospital, part of Main Line Health, includes the development of a new five-story, approximately 230,000-square-foot Patient Pavilion building.

Tall Pines Capital has loaned $120 million to the development The Element, a six-story apartment building located at 400 Claremont Avenue in Jersey City, New Jersey. The loan is split between an $84,000 construction loan and $36,000 of equity. Kathy Anderson, a founding partner of commercial real estate firm Progress Capital, arranged the loan.

The city would provide a $6.64-million Tax Incremental Financing loan for the plan to redevelop the 90-year old city-owned structure into an entertainment and dining complex in the Bridgeport neighborhood of Chicago.

The agency estimates the tax credit awards will generate approximately $230 million in private equity that will create about 1,200 affordable rental apartments in the Garden State.

Demand and price growth in satellite cities could actually outpace that of the core cities, according to Zumper, which identified major metros that retained popularity last year and what satellite cities stole the spotlight.

James Wong, co-founder/CEO of Vibrant Cities, and Bob Tiscareno, principal/founder of Tiscareno Associates, recently shared insights on Infinity Shore Club Residences in this EXCLUSIVE.