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CANBY, OR-The council members, acting as the urban renewal agency, rejected recommendations that would have trimmed 24 acres and as much as 200 acres from the 573-acre urban renewal district. Mediator candidates will be presented to the council Oct. 3.
CHICAGO-The giant retail REIT, which has posted annual funds-from-operations growth of 16% over the last eight years, may consider another dividend increase next year. The current dividend yield is 7.86%.
MIAMI BEACH, FL-East Coastline Development wins approval for a public hearing on a proposal to build a mixed-use multifamily project on one of the last undeveloped pieces of land in the South Pointe district, even though the city Planning Board unanimously disapproves of the idea.
SPOKANE, WA-WestCoast Hospitality Corp. says it expects third-quarter earnings to dip below expectations due to general economic woes and fewer travelers as a result of last week's terrorist attacks on the World Trade Center and the Pentagon.
HOPKINTON, MA-EMC Corp. will lay off 10% of its work force--its largest layoff ever. A company spokesperson tells Globest.com that the company is looking to consolidate its current operations and the fate of two facilities under development is unknown.
LONDON-Despite UK base rates falling to a 40-year low in the wake of the attacks in the USA, property investors are facing problems obtaining finance because of a lack of liquidity in the long-term interest rate swap markets.
DALLAS-Conventioneers cancel this month's events, nip 40% of October bookings and some are pulling the plug for November, says PKF Consulting. The Sept. 11 fallout has no one rebooking, a crippling blow to Texas' already depressed hospitality market.
PHOENIX-Office and industrial markets in the region are definitely following suit with the nation. Office vacancy was 12.8% at midyear and industrial, 8.9%. The sectors haven't stopped, but new construction is going to make the burden even harder to bear.
GILROY, CA-Due to lack of funding, the $100-million Bonfonte Gardens amusement park has closed it doors after only three months after opening, leaving the possibility that the space may soon be put on the market.
DUBLIN-Pioneer Investment Management, the international asset management company and owned by the Milan-based UniCredito Italiano banking group, will be the first company to occupy the new 13-floor landmark office building at George's Quay in Dublin.