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NEW YORK CITY-The HUD funds will be administered through two new offices opened yesterday in Lower Manhattan as part of an economic recovery and incentive program targeting businesses south of 14th Street.
ORLANDO-With its 1,000 acres almost at capacity use, officials at the east Orange County property are talking with owner Eloise Rybolt. But so are conservationist groups who want the dirt preserved and barred for commercial development.
ALBION, MI-The Michigan Economic Development Corp. wants to turn an unused brownfield into a tax-paying property with a new industrial park. A $33,500 loan finances demolition and clean-up costs.
BROOMFIELD, CO-The now glutted northwest corridor should recover by the time Etkin Johnson Group begins developing 38.4 acres. A $400-million mixed-use Broomfield Business Center project could be built near the FlatIron Crossing regional mall.
DALLAS-The Real Estate Council of Dallas brings in three heavy-hitters, all saying their companies aren't taking a pass on buying this year. These changing times require changing strategies.
AUSTIN-It's going to be another tough year in Austin across the product types, except for retail although its rents will be flat. Don't look for significant change until 2003 in multifamily, office and industrial, says a leading economist in his annual forecast.
PHOENIX-Encore Management of Scottsdale sells two multifamily properties in Phoenix while the Kansas owner of a student-housing project in Tucson also finds a buyer. The sold list is Christown Manor, Highland Arms and the Block House.
NEW YORK CITY-Building owner Swig Burris Equities LLC has leased 13,650 sf to Wall Street Planning, an affiliate of Metropolitan Life Insurance Co., and 4,625 sf to technology consulting firm Buchanan Associates.
LONDON-Office Rents in the Western Corridor are forecast to fall by between 5% and 10% this year. Although take-up improved slightly in the final quarter of 2001, availability is at a new high for the current cycle, says CB Hillier Parker.