Multifamily

In addition to the passage of the Fiscal 2020 Operating and Capital Budgets, the City Council overwhelmingly approved a plan to build a $60-million liquified natural gas facility in Southwest Philadelphia.

In its second opportunity zone project, the firm is building a 90-unit entry-level apartment complex in Tempe.

Despite significant new apartment deliveries in Los Angeles, the vacancy rate has increased nominally and rents have remained at all-time highs.

The construction company has promoted Melissa Moreno and hired Shawn Blubaum in talent development.

The $450 million project will provide more than 900 units to the UC Hastings campus for students, faculty and staff, along with construction of an Academic Village and renovation of the McAllister building.

Multifamily investment volumes were up 10% at the end of the first quarter over 2018.

Domenico De Sole, chairman of Sotheby's Board of Directors, says that the board of directors approved the purchase deal after a comprehensive review. “After more than 30 years as a public company, the time is right for Sotheby's to return to private ownership to continue on a path of growth and success," he says.

With the vote on Friday, lawmakers say the reforms give New Yorkers the strongest tenant protection in history.