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STAFFORD, VA-The 240-unit Lakewood Apartments complex was built in 1990 and originally financed as a tax credit deal by HUD. The new Fannie Mae loan carries an interest rate of 6.85%.
ARDEN HILLS, MN-The city is making plans for 2,370 undeveloped acres, but when they will get the land and what they will build are still open questions. Affordable housing may be a priority.
SPOKANE, WA-Locke wants the United States Department of Veteran Affairs and Medicaid to head the funding to redevelop an unprofitable extended-care center owned by Sisters of Providence into the first Eastern Washington veteran's home.
ATLANTA-IDI of Atlanta expects to complete an 826,000-sf distribution center in Texas for national retailer Toys 'R' Us by July. Total hard construction cost for the facility in Midlothian, TX is $32 million.
PORTLAND-Most office building owners have pass-through clauses in their full-service leases allowing them to recoup extra expenses. But with electricity rates potentially doubling, new language is being added to protect both lessor and lessee.
DENVER-A veteran residential developer is tackling a commercial project as plans unfold to build a corporate headquarters. The Equinox Group has broken ground on a 20,000-sf office building, with some space set aside for other tenants.
BRIDGEWATER TWP., NJ-An agreement worked out between local officials and SJP Properties will give the community a new municipal home and SJP the right to build another 360,000 sf of office space.
MORRISTOWN, NJ-Former Vail Mansion, built by the first president of AT&T, will be reborn as a 101-key boutique hotel with the addition of two new wings and 100,000 sf.
AUSTIN-Lane 15 Software is marking its one-year anniversary with new corporate headquarters space that's large enough for three test areas and more staff. A 15-month lease for sublease space has been cut and the move's complete.