Columnar Investments’ plans for a significant housing and commercial project are moving forward in Georgetown, the fastest-growing town in the country. The 620-acre Heirloom project will include 3,600 housing units, which would be a mixture of single-family homes, townhomes and apartments along with at least 200,000 square feet of commercial space centered around a Main Street development.
The Austin Business Journal reports Georgetown city officials called the project one of the most largest planned unit developments the city has ever had and estimated that it would grow the city limits by 1.7% due to the 620 acres and 75 acres of right of way.
It’s estimated that the buildout would take 10 years, with a goal of breaking ground in 2026. The infrastructure costs are estimated at $100 million.
Others involved in the Heirloom project include Lionheart Places (planning and design) and Development Planning and Financing Group Inc. (financial advisor).
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The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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