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SAN DIEGO-Although demand is down somewhat from last year, the San Diego County economy is keeping the multifamily market strong, according to a recent report from Hendricks & Partners.
REDMOND, WA-The City of Redmond has outgrown its city hall building but city council members are unsure of whether they should shell out $31 million to build a bigger one alongside an expanded parking garage.
DENVER-A renewal and expansion of a lease for 116,000 sf at First Interstate Tower North is likely the largest Downtown office deal this year, brokers say.
DALLAS-The Big D is currying favor with institutional investors after a long hiatus. A well-stabilized property with no near-term lease rollover is drawing 15 to 20 offers these days. Equally important, capital and product are in the market at the same time.
WEST LINN, OR-The May increase in fees has meant developers must now pay $5,817 for each new apartment unit instead of $2,886, the rate that had been in effect since 2000. The writ of review asks for a judge to examine the formula used to back up the need for increased fees.
LOS ANGELES, CA-Genesis, an investor in commercial projects in the Los Angeles area, closes its second fund. The money is targeted for economic development in Los Angeles' poorest neighborhoods.
MARTINEZ, CA-Although few public speakers have spoken in favor of a proposed Alamo Creek development project on land adjacent to Danville, the Contra Costa County Board of Supervisors has voted to approve it.
BOSTON-In a move that the Boston Redevelopment Authority hopes will ease the housing crunch in the city, the BRA approves an 80-unit condominium project for the downtown area near Faneuil Hall.
PHOENIX-Brookwood Financial Partners closes on its first Phoenix deal this year, a 181,629-sf office building. The owner of three other Arizona properties plans to spend up to $100 million in the next 18 months in the state.