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ANN ARBOR, MI-A few multifamily projects don't have enough affordable housing units and don't meet city desires for lower density. The city council will decide whether to overrule planning commission rejections.
TACOMA, WA-The approval means the Port of Tacoma will begin its due diligence period en route to acquiring the multi-tenant, 59,000-sf (net rentable) World Trade Center building here for just under $7 million. The sale is expected to close in early 2003.
WESTMINSTER, CA-Bridgecreek Development, one of the primary developers of the "Little Saigon" area of Westminster, sells a fully leased, 35,149-sf office and retail project. It is part of a Little Saigon retail district that has become one of the most popular shopping destinations in Orange County and is widely listed in travel and tourism guides.
LONG BEACH, CA-Developers Diversified Realty opens the 450,000-sf development, which replaces an enclosed mall with an eight-square-block shopping district within walking distance of the waterfront. Among the major tenants that have already opened are Wal-Mart, Nordstrom Rack, Ross Dress For Less, Sav-on, Anna's Linens and Ashley Stewart.
VANCOUVER, WA-Construction of the first phase, 45 high-end condominiums, is being paid for with a $19.3-million loan from U.S. Bank and a $3.6-million "soft second" from Portland-based Wyse Investment. Ninety three more condos and 60,000 sf of office space also are planned for the Columbia riverfront site.
CONROE, TX-The 51,000-sf Conroe Shopping Center attracts a California investor, who jumped to buy as soon as it got word that the 95%-occupied property was coming to market. For the local seller, it's one down and two to go.
CHICAGO-Parkway Properties, Inc. is among those standing on the sidelines as office assets change hands at frothy capitalization rates compared to a year ago, when the Downtown office rental market was in slightly better shape.
SAN JOSE, CA-The City of San Jose will vote this week on whether or not the city should use eminent domain to acquire property at the corner of Story and King roads in East San Jose.
AUSTIN-Gables Grandview will sit on 98 acres on a hill overlooking Capital of Texas Highway. With 1,677 units under wing in Austin, Gables proves just how bullish it is on Austin by taking on the project.
ROANOKE, TX-AmerisourceBergen and Hillwood aren't saying too much, but Denton County says a 30-acre land purchase is close to being done. The pharma giant plans to build a 275,000-sf regional office and distribution center, one of six ticketed to start rising in 2003.