NEW YORK CITY-Despite neighborhood opponents' protests, a 51-story high-rise residential tower to be built at Eighth Avenue and 47th Street was approved Friday by the city's Land Use Subcommittee on Zoning and Franchises. Originally proposed as a 62-story building, the project has undergone numerous height and design changes. But opponents see the project as one more nail in Hell's Kitchen's coffin.

POWAY, CA-An $11-million, 80,878-sf deal closes at the Parkway Centre Five Business Park along with a $7-million, 37,627-sf deal at the Parkway Tech Center close. The lessees are Remec Inc. and GenRad Inc., respectively.

CHICAGO-Once "chastised by the Street, analysts and investors, that we were deal junkies," REITs that are among the heartiest of survivors share some lessons at Roosevelt University's Gerald Fogelson Forum on Real Estate.

EAST PALO ALTO, CA-The Peninsula Park Apartments, a garden-style project consisting of two- and three-story buildings, was developed by the non-profit Bridge Housing Corp. and includes 65 units of affordable housing.