LOS ANGELES—New York-based developer Sydell Group purchases the 13-story, 118,849-square-foot historic building from a group of private investors with plans to transform the building into a boutique hotel.

ATLANTA—Dewayne Herbert, Phipps Plaza's mall manager, explains the strategy behind Simon adding luxury multifamily to the high-end retail project. Will it work?

CHICAGO—In this <B>UPDATE</B>, the school, which residential developers say will help turn the Near West Side into more of a neighborhood, has decided to open a second campus.

HOUSTON–Simultaneous to the start of the 312,000-square-foot project, Transwestern has secured a 150,000 lease for the property which won't deliver until the second quarter 2015.