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AUSTIN-Rising office vacancy has hit the pocketbook of building owners, with rent dipping 42 cents per sf between first quarter and Q2 closings. The average now rests at $27.15 per sf, with the CBD being hardest hit as rates plummet $4.20 per sf.
BOSTON-A number of Massachusetts towns want the State to reform Chapter 40B, the so-called anti-snob zoning law, out of concern that developers are using the law to circumvent local zoning regulations. Governor Jane Swift has proposed a number of changes to the law.
EAGAN, MN-The airline will continue its major hub renovations, especially the $1.2-billion complex in Detroit. But it will shut down its reservations centers in New York and Hawaii and a flight attendant base in Chicago.
MIAMI-The Miami-Dade Housing Agency is negotiating a multimillion contract with Related to construct a new agency headquarters building adjacent to the county's elevated, rapid-transit system.
HOUSTON-Crescent Real Estate Equities is kicking in about 5,000 parking spaces to the July 28 groundbreaking of Houston's Countdown to Downtown. The groundbreaking is for convention center expansion and complementary hotel project.
LONDON-Miller Developments and the Royal Bank of Scotland have been selected to develop up to seven million sf of mixed-use space on a former military airbase in Warrington, Cheshire.
GLENDALE, AZ-The dawning of a new pact between Phoenix Coyotes' owner Steve Ellman and Glendale doesn't alter the construction strategy for the 17,500-seat arena. The $180-million backing nips financing obstacles, but that's all, says Ellman's senior VP.
AUSTIN-The review has started on six proposals to steer Austin's plans for a mixed-use development of the 709-acre former Robert Mueller Municipal Airport. Developers have come from near and far to win the master developer's role.