A Texas-sized redevelopment opportunity, and why investors are choosing student housing
Feb 6, 2015
Here are the news stories you might have missed this week:
Dallas Business Journal: Former Texas Stadium site gets makeover as city hopes to land big tenant
The Dallas Cowboys played their last game at Texas Stadium in 2008, and a new development idea for the site might be a touchdown for the city of Irving. A redevelopment plan for the 78-acre site was recently unveiled, and the arena could be transformed into a retail destination and corporate magnet. Plus, the expansion of State Highway 183 could make the area a very attractive bet for developers and investors. Check out the whole story and a slideshow at BizJournals.com.
The New York Times: Wilmington seeks a youthful energy downtown
Delaware’s biggest city is taking steps to attract the new generation of workers to call Wilmington home. Developers are building new rental properties and conducting renovations to attract the millennial generation to live and work in the city. Leaders behind the redevelopment plan hope to lure in a younger commuter generation, as Wilmington’s newest rental properties will be within walking distance to train hubs, restaurants, and entertainment. To read more about Wilmington’s plan, visit NYTimes.com.
National Mortgage News: Commercial, multifamily lending originations up 11% in 4Q14
You can take the commercial and multifamily comeback to the bank — literally. The last half of 2014 saw commercial and multifamily loan originations increase by 27 percent, according to the Mortgage Bankers Associations. A conflux of low interest rates, rising property values, and improving property fundamentals resulted in increased lending in 2014. Overall, loans in these two classes were up 7 percent year over year. Learn more about this trend at NationalMortgageNews.com.
National Real Estate Investor: New investors rush into student housing
Investors are going back to school by scooping up student housing properties at accelerated rates. These properties, now viewed as an asset class, are seen as resilient investments with manageable prices and good returns. Because more investors are snatching up these assets, demand is growing and prices are being driven up, but they’re still considered valuable properties with good financing opportunities. Some developers are building more student housing, and demand has kept up with supply at tier-one schools. See why investors are looking at student housing at NREIOnline.com.
Posted by: Raymond T. Cirz