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NEW YORK CITY—The first project under Mayor Bill de Blasio's $350-million affordable housing program for low-income seniors broke ground Thursday in the Far Rockaway section of Queens.
SAN FRANCISCO—Bank of America Merrill Lynch was selected as the lender and tax credit investor by San Francisco in a milestone rental assistance/affordable housing project.
CHICAGO—Foreclosures continue to play a smaller role in the housing market and while the foreclosure inventory is relatively unchanged sales prices for foreclosed properties continue to increase.
BALA CYNWYD, PA—Hunt Mortgage Group has provided a $4.6 million Freddie Mac conventional loan facility to refinance a multifamily property in Bala Cynwyd, PA that's had the same owner for nearly 55 years.
HADDON TOWNSHIP, NJ—The first of four buildings at Albertson Village, a multifamily rental project being developed by Walters Group on a brownfield site, is slated for completion in September 2015.
BETHESDA, MD—Now that it has refinanced the north tower, MRP plans to focus on leasing instead of selling 'in haste', Jackson Prentice tells GlobeSt.com's Erika Morphy.
CHICAGO—Same-day delivery means distributors are handling a vastly greater number of small packages, and therefore, have far more specific requirements for new class A facilities.
TORONTO—The Ontario Pension Board is also taking a 30% interest in Cadillac Fairview's development site for an 850,000-square-foot office tower elsewhere in the city.
AUSTIN—The office building 2550 S. IH-35, a 16,200-square-foot property in South Austin, has been repositioned and sold after receiving multiple offers.