Multifamily

JPMorgan Chase issued a request for proposals today for cities to apply for possible funding that closes on Nov. 30, 2018. Winners will be announced in the spring of 2019.

Circle Towers in Merrifield, Va., are said to be trading for $165 milion.

Over the past 24 months, ending July 15, there have been more than 20 so-called “deconversions” announced in Chicago.

Gen-Z is much more open to homeownership than millennials, and the oldest segment of the generation plans to buy a home in the next five years.

Many developers focus on condo deconversions, but others feel the time is right to launch new projects.

The multi-family property consists of 24 two-story buildings with 20 one-bedroom, 152 two-bedroom and 20 three-bedroom units.

JLL reports that estimated development costs for the 10 largest transportation infrastructure projects now exceeds $35 billion.

A mixed-use development will have the first substantial slate of affordable units to be delivered within the downtown precise plan and quadruple the number of affordable units completed under the plan to date.