An Air Force base makes room for multifamily, and suburban Dallas gets a little more urban
May 16, 2014
Here are the news stories you might have missed this week:
The New York Times: A trail helps open up a Dallas neighborhood to new development
A 3.5-mile concrete path — dubbed Katy Trail — in Dallas has helped transform Uptown Dallas from an empty, rundown district into a “live, work, play” urban neighborhood. In a city traditionally known for its suburban sprawl, developers have already added approximately 8,000 apartment units to the Uptown district, with plans to build 1,100 more. In the past eight years, property value in Uptown has climbed almost 80%, and demand in the region isn’t slowing down. Click over to NYTimes.com to learn more.
GlobeSt.com:Lenders no longer hesitant for senior MF
As the U.S. senior population continues to swell, developers are finally gaining financing for senior housing projects. With 72.1 million people slated to reach or exceed 65 years of age by 2030, an increase in demand for senior housing is imminent. Some developers are already well on their way to delivering new projects that meet the lifestyle preferences of today’s seniors, complete with new amenities that encourage social activities and engagement. Continue reading at GlobeSt.com
San Antonio Business Journal: Brooks, PPA and 210 Development join forces on new Brooks City Base apartment project
Developers announce the construction of a new 280-unit multifamily project at the former Brooks City Air Force Base near San Antonio. The project, appropriately named the Aviator, calls for the adaptive reuse of four existing structures on the base, and is representative of a longer-term plan to turn Brooks into a hub of residential, retail, and commercial development. Visit BizJournals.com to learn more about the redevelopment plans.
ChicagoRealEstateDaily.com: Commercial property sales jump 59 percent in first quarter
Propelled by rebounding occupancy, rents, and a pickup in lending, commercial property sales in the Chicago-area skyrocketed to the highest level since 2008 last quarter. Investor activity also picked up across several property types, including apartments, industrial, retail, and hotels. But the fate of the market now depends on improvements in the local economy, which has historically lagged behind the rest of the country. For more information, visit ChicagoBusiness.com.
Posted by: Raymond T. Cirz