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Showing posts with label Development. Show all posts
Showing posts with label Development. Show all posts
Lack of Development
Well Ladies and Gentlemen,
Due to the recent economy, suffice to say, there hasn't been much to post on this blog.
So, I'd like your help. If you know of any developments in your area, please email me (alephew at gmail.com) so you can share the good news with everyone! Now since there is much un-development happening, let's report on that as well.
When I created this blog (my first), I did it to help out my previous employers (condo developers) find localized information. This was to aide them in making purchasing decisions, as well as create bank packages to apply for mezzanine funding. My first blog has stretched it's legs since then.
Let's pool our resources to help those who still want to open business in our communities. Anything that you think will help others succeed, or save them from making a poor choice, send it! Pictures, stories, articles, you send it, we'll post it, and of course provide the source (unless anonymity is requested).
Email alephew at gmail.com
Photographer: Unknown
Retail development on Pittsburgh's South Side could lead to residential growth
Pittsburgh Business Times - by Tracy Carbasho
Commercial real estate developers say the brisk retail activity on the South Side has primed the area to be a hotspot of residential growth.
“The South Side has become a desirable residential neighborhood, attracting young people and upscale professionals,” said Peter Sukernek, general manager and vice president of Howard Hanna Commercial Real Estate Services, Downtown. “It offers a combination of everything you want in a neighborhood, including employment opportunities, retail and entertainment.”
Sukernek said the South Side could follow the same trend that occurred in the Strip District, where many old warehouses have been converted to loft apartments. In particular, he believes transforming vacant buildings into avant-garde living accommodations to meet the needs of today’s busy professionals could be a profitable venture.
“There is a high occupancy rate on the South Side in commercial buildings and older industrial buildings. A lot of the bigger buildings have been purchased and torn down,” he said. “The trick is to find a building on property that is not large enough to be torn down and built upon, but something that can be renovated. Banks are interested in financing projects like this.”
Sterling House embarks on $1M center
Dayton Business Journal - by Mary Beth Lehman DBJ Staff Reporter
Sterling House, an assisted living home in Troy, has started construction on a 17,000-square-foot memory care center, which will create 22 rooms and 25 beds for people suffering from Alzheimer’s disease and other forms of dementia.
Company officials said an increase in residents with dementia and an expected increase of people developing memory problems created a need for the additional center.
A memory care center provides additional structure and programming for patients suffering from memory-related illnesses. Extra care and life enrichment activities are devoted to specific problems memory patients usually face.
The center will have built-in life stations, including such workshops as a carpenter’s station or gardening station to help patients with familiar experiences.
DoT eyes Texas for high-speed rail
Houston Business Journal
Texas will be part of a federal program to create high-speed passenger train service, according to the U.S. Department of Transportation.
The agency said it plans to begin accepting bids from companies that will finance, design, build, operate and maintain high-speed trains in 11 federally designated corridors, according to Transportation Secretary Mary Peters.
“Americans need new ways of traveling between major cities, and a properly structured intercity passenger rail system can, and must, play a larger role in our nation’s transportation future,” Peters said in New York City. “There is growing interest in intercity passenger rail as an alternative to driving and flying but, for it to really work, it must be viable, efficient and competitive.”
The corridors, as currently designed by the Federal Rail Administration, stretch across the country, but only half — those in the eastern portion of the United States — actually connect with one another.
If initiated, Houston will be part of the 1,022-mile Gulf Coast Corridor, based out of New Orleans, La., connecting the city with Mobile, Ala; Meridian, Miss.; and Birmingham, Ala., according to the Federal Rail Administration.
The rest of Texas has its own corridor, called the South Central High-Speed Corridor, that would link Dallas-Fort Worth; Austin; San Antonio; Texarkana; Oklahoma City; Tulsa, Okla;. and Little Rock, Ark.
Gold’s Gym comes to Madison
The Business Journal of Milwaukee
Gold’s Gym is opening a new club in Dane County in the summer of 2009 in a 45,000-square-foot building that will be part of The Shops of Orchard Pointe in Fitchburg.
The Madison office of Lee & Associates represented Gold’s Gym in the $7 million, 10-year lease in the 110-acre development in western Dane County. A spokesman for Lee & Associates said Gold’s Gym, which started 50 years ago in Venice Beach, Calif., plans to add 200 additional franchise operations nationwide by 2010 and is considering other locations in the Madison area.
Gold's Gym had a club on Blettner Avenue in Madison that was closed in early 2008.
“Having Gold’s as the anchor of The Orchard Pointe development will strengthen the retail co-tenancy of the property,” said Steve Doran, a broker in Lee & Associates’ Madison office.
Lee & Associates is also recruiting other tenants for an additional 100,000 square feet of retail space in the Fitchburg shopping center.
Pizza Fusion to open in Orlando
Orlando Business Journal
Pizza Fusion, an eco-friendly national restaurant chain, plans to open its first Central Florida location in the Dr. Phillips area in February.
Orlando-based FreshCrafters Inc. is the franchisee for the new 2,723-square-foot, 100-seat restaurant on West Sand Lake Road. The eatery is slated to be the first organic-certified restaurant in the area, according to a news release.
Fort Lauderdale-based Pizza Fusion incorporates environmentally-sound elements in building, service and operations. All locations are built to the U.S. Green Building Council’s Leadership in Energy and Environmental Design standards. The chain also delivers food in company-owned hybrid vehicles and offsets all power consumption by buying renewable energy certificates.
The chain already has six locations statewide with another three slated to open soon, according to its Web site.
KC Council OKs $20.5M advance for Citadel Plaza project
Kansas City Business Journal
"The Kansas City Council on Thursday voted unanimously to advance $20.5 million for the Citadel Plaza, a $90.5 million mixed-use redevelopment proposed for a blighted portion of the city’s East Side.
The long-delayed project — generally bounded by 59th Street, 63rd Street, Brooklyn Avenue and Prospect Avenue — got a boost in September when the City Council approved a redevelopment plan that includes $43.7 million in tax increment financing. But the project developer, Community Development Corp. of Kansas City, and city staff agreed that now was not a good time to market the first of the two bond issues that the city has agreed to back to raise the $43.7 million, David Frantze, a Stinson Morrison Hecker LLP lawyer who represents the Citadel Plaza developer, said Friday.
Hence, the City Council was asked for the $20.5 million advance, which will be used for remaining land acquisition and site preparation, and will be repaid when the bond market improves, Frantze said.
The ordinance approving the advance calls for CDC of Kansas City to find a co-developer for the project. But it was not clear after Thursday’s vote what “co-developer” means.
“That’s a great question,” said Dave Claflin, a spokesman for RED Development LLC.
RED, which developed the $250 million The Legends of Village West destination-retail center in Kansas City, Kan., has agreed to serve as a for-fee adviser on the Citadel Plaza project but not to invest in it, Claflin said.
Councilman Bill Skaggs said he cast his vote for the $20.5 million advance thinking “co-developer” meant “having some skin in the game” and “more than just an adviser.”
Frantze said the term would be defined in his client’s final agreement with RED or another co-developer. He said the ordinance approved Thursday gives the City Council final say on whether the partner and its role in the project are satisfactory.
William Threatt Jr., CEO of the CDC of Kansas City, said Thursday’s City Council vote should pave the way for the start of construction by June or July.
The project calls for 307,327 square feet of retail space, 35,000 feet of office space and 1,200 parking spaces. Threatt said a regional grocery operator has agreed to be an anchor tenant for the retail development."
Atlanta officials seek $750M for repairs
Grants, bonds would be funding sources
By ERIC STIRGUS
The Atlanta Journal-Constitution
Wednesday, December 10, 2008
Atlanta city officials propose using bonds and money from federal and state grants to pay for $750 million in improvements needed on city streets, bridges, sidewalks, vehicles and traffic.
Mayoral adviser David Edwards called the repairs a public safety issue. But he and Public Works Commissioner Joe Basista told Atlanta City Council finance committee members the city needed to find a way to pay for repairs that doesn’t require dipping into the city’s annual operating expenses. The city now faces a $50 million shortfall in its operating funds.
“By allowing your capital to wither on the vine, you are increasing your operating expenses,” Edwards said in an interview.
President-elect Barack Obama has said he plans to give federal funds to the states to improve the nation’s infrastructure and to help boost the economy.Since Atlanta Mayor Shirley Franklin took office in 2002, the city has spent between $50 million and $60 million a year on capital infrastructure projects, city officials reported Wednesday. City officials say Atlanta should raise that annual total to about $100 million.
The city has 18 bridges that need to be repaired or replaced, work city officials say will cost about $162 million. Another $255 million is needed to pave streets, they said. Atlanta also has 1,818 vehicles and other pieces of equipment in use past their intended replacement dates. Replacing the vehicles could cost another $55 million. About $278 million is needed to replace aging facilities, traffic lights, streetlights and sidewalks.
Council members did not action Wednesday on the proposal. Fulton County Taxpayers Foundation Executive Director Barbara Payne argued a bond issue would be unlikely to win the required approval of city voters. She also questioned the idea of turning to the state and federal government for help, noting they also have budget troubles.
“How can we ask Mom and Dad when they don’t have [the money]?” she asked, adding that the city must better control its own spending.
State approves Albany Medical Center’s $360M expansion projec
The Business Review (Albany)
Albany Medical Center says the State Hospital Review and Planning Council has approved its plans to expand the hospital and construct a $360 million complex to be located at the front of the patient tower that faces the corner of New Scotland and Myrtle avenues.
The six-story complex will take several years to build, Albany Med said. It will include a neonatal intensive care unit, 20 operating rooms, recovery rooms, expanded adult intensive care beds and additional general medical/surgical beds.
Albany Med said the expansion will increase the hospital’s licensed bed capacity from 631 to 714 and meet the projected 3 percent annual increase in its patient population that is expected to happen during the next decade.
The planned architect for the project will be TROJung Brannen of Boston.
Albany Medical Center President and Chief Executive Officer James Barba said the expansion is necessary to keep up with an increased demand for services.
“Even during the most difficult economic times, the need for access to emergency and specialty services 24 hours-a-day, 7 days-a-week remains,” he said. “As the region’s only tertiary care center, Albany Medical Center must continue to meet the demand for its unique array of services.”
Albany Medical Center is northeastern New York’s only academic health sciences center. It has about 7,000 staff members.
Voters reject $56.1M school building
By KENNETH C. CROWE II, timesunion.com Staff writer
First published in print: Friday, December 12, 2008
BALLSTON SPA — Voters in the Ballston Spa Central School District defeated by a nearly 2—1 margin Thursday a $56.1 million plan to expand the middle school.
Students in grades six, seven and eight attend classes in the former high school, which was built in the 1950s for 800 students. More than 1,050 use the building now.
"The building is still overcrowded with kids,'' said Stuart Williams, a district spokesman.
The Board of Education will consider what steps should next be taken to deal with the facilities needed at the middle school.
Before the vote, Superintendent Joseph Dragone said the school board went ahead with the proposal despite difficult economic times because the state would cover 79 percent of the cost and taxpayers will pay 21 percent. If the project was approved, the owner of a home valued at $221,000 would see a $120 increase in taxes per year, starting in 2012 until the 15-year bond is paid off.
The campaign to win support from taxpayers for the project also marked the first time the board has turned to a public relations firm for help. In its strategic planned adopted this year, the board voted to spend up to $12,000 on public relations services to help communicate with the public. The board chose Allegory Studios of Saratoga Springs, which works with the board's architect, CSArch Architecture of Albany.
It was Allegory that helped develop the board's slogan, "Build for Tomorrow. Our students, their future."Jordan-Elbridge voters reject turf, approve repairs
by Catie O'Toole / The Post-Standard
Thursday December 11, 2008, 9:45 PM
JORDAN, NY - Voters in the Jordan-Elbridge school district today approved only one of three propositions in a $27 million capital project.
Many repair projects that needed to be done passed, but voters rejected a proposal to install artificial turf and improve the athletic facilities.
Here is a breakdown of the votes:
Proposition 1: Replace a wastewater treatment system at the high school and construct parking; purchase 3 1/2 acres of land east of the high school to construct an off-site storm water retention basin; additions at the high school and renovations to district's four buildings; and replace existing grandstand bleachers with handicapped-accessible seating and create new concession stands, bathrooms and locker rooms.
Cost: No more than $21.9 million.
Vote: Passed, 720-583.
Proposition 2: Consolidation of playing fields at the high school and construction of new baseball and softball fields, refinish existing practice fields, add lighting to the two tennis courts, and build an athletic field where the existing wastewater treatment plant is located.
Cost: No more than $3,387,000.
Vote: Failed, 679-619.
Proposition 3: An artificial turf field at the existing high school stadium.
Cost: No more than $1.76 million.
Vote: Failed, 767-530.
Since only the first proposition passed, the owner of a home assessed at $100,000 will pay $12 a year with Basic STAR, $18.96 a year without STAR and $27 a year with Senior STAR.
The school district plans to pay for the majority of the project using state building aid, state Excel aid and some money from a capital reserve fund.
"Proposition 1 contains a lot of work that we really need to do," Superintendent Marilyn J. Dominick said. "We're thrilled that the community stood behind us."
School officials said they plan to ask the state to expedite the review process and consider the wastewater treatment plant and the storm water retention basin as urgent so they can begin work in the spring.
Meanwhile, the school board will discuss whether it wants to put the two propositions that failed tonight up for a re-vote, Dominick said.
Staff writer Catie O'Toole is working on a complete story for tomorrow's Post-Standard.
Americas Plaza development takes shape
Retail center, residential site planned east of downtown
By KIM JACKSON
Chronicle Correspondent
In a city where the old is often replaced by the new, developer Alan Atkinson is making a statement by using two historic buildings as the centerpiece for the modern, mixed-used Americas Plaza development in the eastern shadow of downtown Houston.
Situated on the corner of the Navigation Boulevard/Canal Street intersection, the 116-year-old former Anson Jones Elementary School building has evolved into the One Americas Plaza office building and reception hall.
Directly across the street, a 58-year-old warehouse, which most recently housed used office furniture and a retail blood bank, is taking shape as Two Americas Plaza — a 28,000-square-foot retail center built around a central plaza.
Atkinson, owner of AVA Limited, purchased seven adjoining properties over a four-year period before launching the Americas Plaza development. The ultimate goal is to add mid-rise and high-rise residential development to the 10-acre mix, Atkinson said.
"We are trying to do things differently. We are not following the traditional development models," Atkinson said. "This part of town has had low development expectations for several years, so all of the spaces are being designed to a high level of finish. We want local residents to take pride in what is happening to the neighborhood."
The Americas Plaza development is similar to the more established mixed-used Midtown district, Atkinson said. He said the two areas are like "bookends" on opposite sides of downtown Houston.
"That area has become a hotbed of life and activity, and that's what I see happening here," Atkinson said. "We are four blocks from the (Minute Maid) baseball stadium, four blocks from the proposed (Dynamo) soccer stadium, and one block from Guadalupe Park and hike-and-bike trails on Brays Bayou."
Atkinson added with the completion of the Alexan Lofts complex and 71 townhomes across Canal, there are about 900 more residents in the neighborhood.
AMERICAS PLAZA
Two historic buildings are being used as the centerpiece for the modern, mixed-used Americas Plaza development east of downtown Houston.
• One Americas Plaza: Situated on the corner of the Navigation Boulevard/Canal Street intersection, the 116-year-old former Anson Jones Elementary School building has evolved into the One Americas Plaza office building and reception hall.
• Two Americas Plaza: A 58-year-old warehouse building, which most recently housed used office furniture and a retail blood bank, is taking shape as Two Americas Plaza — a 28,000-square-foot retail center built around a central plaza.
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Lauth Plans 3M-SF Distribution Park
By Jim T. Ryan
5/19/2008
Lauth Property Group, an Indiana-based construction and property-management firm, today announced plans to begin construction on the first of three buildings for the Key Logistics Park in Cumberland County.
The first building will be nearly 1.2 million square feet off exit 37 of Interstate 81 in Penn Township, said Marc Lotter, a Lauth spokesman. Key Logistics Park includes 206 acres near the exit. The park is being built on speculation and build-to-suit basis, he said.
Site preparation is underway, Lotter said, and the first building could be completed by the second quarter of 2009. The company declined to release the total cost of building the park.
Construction on the second and third buildings would depend on market conditions, Lotter said. The buildings will have more than 3 million square feet of warehousing space.
$6M Library Breaks Ground in Pittsburgh
By Brianne Harrison via globest.com
PITTSBURGH-Carnegie Library of Pittsburgh broke ground Friday on its newest library here. The $6 million project will be located at 1210 Federal St. in the North Side area of the city.Karen Loysen of Pittsburgh-based Loysen + Kreuthmeier Architects designed the new library. Construction bids are currently being accepted, and building is expected to commence after Memorial Day.
The library will take up a 16,500-sf lot that was previously the site of a gas station. It will be built and fitted out to LEEDs Certified standard, with natural lighting and energy-conscious mechanical and electrical systems. Plans for the building feature a dedicated children’s programming area, an outdoor terrace and the Allegheny City Room, which will house historical collections of the neighborhood.
130 acre master-planned industrial park in Fort Worth
FORT WORTH-With word out about the 130-acre land buy, ProLogis is unleashing details about its plan to develop a $100-million industrial park in North Fort Worth. Infrastructure work will begin soon, setting the stage for a 525,000-sf spec cross-dock as the lead-in to the 2.1-million-sf build-out plan.ProLogis Park Fort Worth will sit at the crossroads of Interstate 35W and Loop 820. The land was bought in February from a local partnership, with build-out details being closely guarded until now.
Rob Huthnance, first vice president and Dallas market officer for the Denver-based development company, tells GlobeSt.com that the team is working through its impact fees with the city, but the developer will be required to improve Mark IV Parkway and Cantrell-Samson Road as part of the terms. "While we're finishing the roads and utilities, we can start a building," he says, adding vertical construction should be under way by year's end.
Greater Philadelphia Tourism Marketing spending $2M on ads
Philadelphia Business Journal
Greater Philadelphia Tourism Marketing Corp. said Thursday that it will launch a $2 million advertising campaign to promote the region.
The campaign will kick off June 1 and run through September, GPTMC said at its annual meeting Thursday.
Advertising will run in national magazines, as well as newspapers, online, on billboards, cable television, satellite radio and through search-engine optimization.
Areas targeted are within driving distance of Philadelphia, including Delaware, New Jersey, New York, Pennsylvania and Washington.
The campaigns will center around a Philly's More Fun theme as well as Historic Philadelphia, which promotes the historic district bounded by Front Street to the east, 7th Street to the west, Race Street to the north and Spruce Street to the south.
Advertising will include lines including, "The Liberty Bell is only the beginning," and feature a collage of photographs featuring daytime and nighttime activities.
Of the 27 million people that visit Philadelphia annually, a third visit in the summer months.
As an incentive, travelers who book two-night stays through GoPhila.com are eligible to receive a $50 American Express gift card.
Envision Crestview Station
The new 20-acre Midtown Commons broke ground this week; it will be Phase I of Crestview Station, Austin's first privately built transit-oriented development. As such, the "new urban village" designed around a transit stop offers a picture of Austin's desired land-use future.
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Developments get a breath of fresh Texas air
Crystal Falls and Pearson Ranch developments
- Crystal Falls
First broke ground: 1997
Acres: 5,000
Homes: 10,000
Price Range: Low $200,000s to $1 million+
Builders: David Weekley Homes, Drees Custom Homes, Mercedes Homes, Perry Homes and more
On the project: “We are hitting on all cylinders and should be in the top three communities for growth in the Austin Standard Metropolitan Statistical Area for 2008.” — Bill Hinckley, Crystal Falls developer - Pearson Ranch
Breaking ground: September 2008
Acres: 192
Homes: 428
Price Range: High $200,000s to $500,000
Builders: Standard Pacific, Streetman Homes
On the project: “This is basically going to be the next phase of Avery Ranch, and Avery has been the No. 1 subdivision five years in a row.” — Bob Wunsch, Pearson Ranch developer -
Prayer tree - Ivean Pearson rode out on his horse in 1949 to see land available for purchase near present-day Parmer Lane and RR 620, stopping at a tree to pray about the decision. Developers plan to preserve a tree the family believes shaded Pearson as he prayed. A marker will be placed at the site.
Amenity center - Plans include a pool, basketball, tennis and sand volleyball courts. The look and feel of the center will mirror that of the existing center in Avery Ranch.
Read the full article at impactnews.com
SPAC receives $2.5M from state Senate
The Business Review (Albany) - by Adam Sichko The Business Review
SPAC receives $2.5M from state Senate
The Saratoga Performing Arts Center will soon get a face-lift, thanks to $2.5 million from the state Senate.
The funding will pay for a new facade that's modern and environmentally friendly, said Marcia White, the center's president and executive director.
Construction is scheduled to start and end between the 2008 and 2009 seasons.
"It will become the new face of SPAC," White said. "This sends the message that this is a facility moving forward confidently into the future."
The amphitheater's current exterior is the original siding from 1966, when the center first opened. A new facade will be built using a product called "trespa," made mostly of recycled paper and covered with a plastic resin, White said.
"It's easy to maintain, it's long-lasting and it's 100 percent recycled," White said.
The renovations will also install a fiber-optic lighting system that will reduce energy consumption.
In previous years, Senate Majority Leader Joseph Bruno (R-Brunswick) has directed state funds to the center to replace seating, lighting and rest rooms, and improve the dressing room areas.
"When this project is complete, we will have been able to remake SPAC inside and out," Bruno said at a press conference on Wednesday.
The center's grant comes from a $132 million fund in the 2008-09 state budget for improving state parks throughout the state.
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