British Columbia’s multi-family market continues to show resilience despite rising supply, economic headwinds and short-term pressure on rents and vacancy rates, says a new Cushman & Wakefield report. The sector is moving through a pricing adjustment phase that is narrowing the gap between buyers and sellers, supporting a gradual recovery in investment activity, according to...
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Vancouver’s long-awaited Oakridge Park retail centre opened Thursday with an official ribbon-cutting and gala ceremony that included ballet dancers, leading commercial real estate executives and local politicians. Wesbank CEO Ian Gillespie said the redeveloped Oakridge shopping centre will serve as a “cultural hub” for decades to come. The event marked the first major enclosed urban...
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The Colorado Coalition for the Homeless (CCH) is redeveloping the Downtown Denver YMCA, which closed 45,000 square feet of activity space at the end of last year. The two organizations have been partners in the building since the YMCA of Metropolitan Denver sold much of it to CCH in 2001 for $5.4 million, The property...
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Dwight Capital has closed a $114 million HUD 221(d)(4) substantial rehabilitation loan for the conversion of 100 East Wisconsin, an existing 34-story office building, into a 373-unit luxury apartment community. Strategically positioned at the heart of Milwaukee’s downtown central business district along the Milwaukee River, 100 East Wisconsin is currently the state’s third-tallest building and...
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Luxury lifestyle brand Nobu announced it will rebrand two luxury residential towers in downtown Bellevue as Nobu Bellevue Residences, marking the first occupancy-ready Nobu-branded residential development in the United States. Owned by Silverstein Properties, the project introduces a new hospitality-led residential offering being sold by Polaris Pacific as the sales agent for Silverstein. Located in the heart of...
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Portman Holdings is looking at 111.55 acres in Duluth for a mixed-use project. The Atlanta Business Chronicle reports the plan is to build about 1,400 new residential units – including apartments, townhomes and single-family homes – along with approximately 80,000 square feet of commercial space and approximately 100,000 square feet of medical office space. The...
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Developer Jeff Greene is making a pitch to build a 399-unit, mixed-income apartment complex in West Palm Beach. The project would also include 7,557 square feet of retail. The S. Florida Business Journal reports Greene wants to incorporate a pre-fabricated mass timber system. The nearly one-acre site would be at 120 S. Dixie Highway. It...
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Choice Hotels International President and CEO Patrick Pacious has stepped down and will serve as an advisor through August 31 to support the transition. Dominic Dragisch, the firm’s chief growth and strategy officer, will serve as interim CEO until a permanent replacement for Pacious is hired. The company’s board has launched a comprehensive search in...
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