Development

IRVINE, CA-Timeshare developer MPTV Inc. has renewed its permits to renovate five buildings at its Lake Tropicana timeshare resort near Las Vegas, which is planned to include 144 apartments in 22 buildings, a tennis court, a spa, swimming pools and other recreation facilities. MPTV is seeking funding to complete the project.

ORLANDO-Osceola Circuit Judge Jeffords D. Miller has ruled the 50-member Orlando/Kissimmee Hotel Motel Association can't interfere with contract negotiations the county is having with Orlando-based Xentury City Development Co. to erect a $100 million, 500,000-sf convention center on Osceola Parkway and International Drive South, minutes from Walt Disney World.

BOSTON-The state legislature passes the omnibus housing bill, which includes a financing alternative for municipalities to fund capital improvements. After six years, NAIOP is thrilled that the local developmental tool finally made it through.

MIAMI-Locally based Alliance Construction LLC is constructing the 10-garden style, 204-unit community at 11900 NE 16th Ave., North Miami, FL. The hard construction cost is $10.3 million or $50,490 per unit.

NEWARK-The developer, which is under contract to buy a choice 5.7-acre tract on the Passaic River, is apparently looking to put up a project dominated by market-priced residential units, and possibly a hotel.

ORLANDO-Called The Loop, the 33-acre project will mirror the developer's 500,000-sf, $85 million venture in suburban Boston that was developed at about $170 per sf. The project inflates Central Florida's retail inventory to over 47 million sf.