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CHICAGO-A $25-million budget, more than half of it for site preparation and building rehabilitation, comes with designating an area near 47th Street and Ashland Avenue as a tax increment financing district.
LONDON-Despite the climate of fear in the UK property market, the Royal Institution of Chartered Surveyors predicts that house prices in the UK will go up 6% in 2002. But this compares to a 10% rise in 2001.
BOSTON-An audit of the process by which the Big Dig, the massive highway construction project here in the heart of the city, deals with claims for work that wasn't originally contracted is being considered by the Department of Transportation. The project has already paid out $1 billion in additional work claims.
PHOENIX-The Arizona Department of Economic Security will slide into 10,757 sf of inline space at the 120,650-sf Fountain Square in North Phoenix. The five-year lease is valued at nearly $780,000 over its term.
ROTONDA, FL-The Rotonda Golf and Country Club's three courses include 18 holes of executive golf, formerly owned by past U.S. Open champion Raymond Floyd. The property is between Fort Myers and Sarasota, 100 miles northwest of Downtown Miami.
WEST PALM BEACH, FL-Planning director Frank Duke says one of the proposed concepts is a traditional marketplace look, which would more resemble old-fashioned Main Streets than shopping plazas, emphasizing sidewalks over parking lots.
AUSTIN-Capitol Market Research is still fine-tuning its year-end stats, but the preliminary results show some 2.3 million sf has delivered in the worst year since the late 1980s. Year-end occupancy, including sublease space, will hover around 80%.
SACRAMENTO, CA-More than 2,000 acres of the McClellan Air Force Case site will be converted to private use, creating 6,000 jobs in the Sacramento area. A county official says this will secure the future of McClellan as a viable economic engine for the Sacramento region and benefit the community for generations to come.
SORRENTO, FL-Joint Orlando developers Kittredge Investments, headed by Conway Kittredge, and Hewitt Properties, headed by Bobby Hewitt, are racing the clock on submitting revised development plans for the 680-acre commercial/residential venture, 28 miles northwest of Downtown Orlando.