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ULC a nonprofit group affiliated with the Denver Foundation that buys, preserves and develops urban real estate is expected to be the sole borrower of the fund, and will be responsible for buying property for the TOD housing and partnering with local companies for site redevelopment. For the TOD housing project, the ULC will target three types of properties existing, federally assisted rental housing; unsubsidized rental properties; and properties that currently are vacant or used for commercial... (Denver Business Journal, CO)
Sacramento housing agency plans to spend $32M Feb 24, 2009
The agency will use $12 million to aid development firms in buying property in areas highly concentrated with duplexes or four-plexes that have a high rate of foreclosure, in order to consolidate the ownership and provide property management and oversight. The agency is working with EPO Development on two of the areas that have about 300 housing units and the agency itself owns many properties in a third area with a high concentration of this type of housing. (Sacramento Business Journal, CA)
Allston residents blast Harvard over slowed pace of expansion Feb 24, 2009
The largely hostile crowd accused Harvard of sucking the life out of a neighborhood now littered with empty university-owned storefronts, and implored the school to impose a moratorium on buying property until it completes a state-of-the-art science complex originally slated to open in 2011. The university, struggling to cope as its endowment plummets amid the recession, announced last week that it will probably slow, or even halt, construction of the science complex after the foundation work is... (Boston Globe)
Chinese want a piece of America Feb 13, 2009
While China's ultra-rich have been buying property in the U.S. for years, the buying tours are new, made attractive by still-rising Chinese income levels and American real estate prices that have been falling for two and a half years. More than 100 Chinese buyers have joined such tours since late 2008, according to Chen Hang, the China-born vice president of real estate at Fortune Group. (MSNBC -- Business)
Budget hotels may buck property trend Feb 12, 2009
He said that with the economy slowing down and interest rates increasing, most people will tend to put their money into banks, instead of buying property. Post Your Comments. (Jakarta Post, Indonesia -- Business)
Proposal for new firehouse at issue Feb 10, 2009
The district, home to the Enterprise and Hamilton firehouses, has submitted a 2009 budget that sets aside $150,000 toward the cost of buying property and constructing a new station -- about 8 percent of the total taxes it wants to collect in 2009. The owner of a property assessed at the $100,000 district average paid $490 for fire services last year. (NJ.com -- Times)
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