There’s a Renaissance happening in Savannah, and a rags to riches story for Kansas City alleys Jun 19, 2015

Here are the news stories you might have missed this week:

The New York Times: In Savannah, where change is slow, an art district is catching on

Savannah artists have long been trying to restore the city’s art district, but recently, the area has transitioned into the masterpiece citizens always hoped it would be. The area, called the Starland District, is filled with art galleries, retail stores, restaurants, and offices, and developers only predict continued growth for all types of CRE construction. The neighborhood is becoming a hot location for young professionals, students, and artsy types, and demand is predicted to remain high. To find out more about Savannah’s Starland District, visit NYTimes.com.

Kansas City Star: Quirky Crossroads shops are right up KC’s alley

Dark alleys might be seen as home to comic book villains, smelly trash, and unwanted critters, but Kansas City is trying to revamp their image – and their value. Alleys throughout the city are getting European-style makeovers, which will include art installations, tables and chairs, and better lighting. Additionally, businesses are shifting their storefronts to open into the alleys to lure in new customers. By cleaning up these alleys and making them attractive walkways, landlords are turning them into assets and making underused spaces more attractive to tenants. Find out more about these alleyways at KansasCity.com.

Bisnow: Are Chicago’s PMDs getting in the way of development?

There’s no doubt that Chicago’s Planned Manufacturing Districts (PMDs) have shaped the city for the past three decades, but now might be the time for a change. Some developers are pushing to reform these districts since they haven’t been updated since the 1980s and could benefit from other land uses. Rezoning these districts to include retail, residential, and mixed-use purposes would create new opportunities for development and spur investment in Chicago. See what’s happening with Chicago’s PDMs at Bisnow.com.

GlobeSt.com: Banks prefer rental apartments over condos

Los Angeles’ Koreatown is an attractive neighborhood, but not just for residents. Investors and developers are adding apartments and condos to this inexpensive neighborhood, which is overflowing with demand. But developers have found that banks are more willing to lend for apartment projects, as opposed to condos developments. A number of recent loans reflect this trend, as banks only leverage as high as 75 percent for condo properties — a few percentage points less than the quotes apartment complexes received. Overall, Koreatown is a hot spot for investors, whether they are building new or pouring money into existing buildings and performing capital improvements. Learn more about how banks are lending at GlobeSt.com.