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Banyan Plans Capital Improvement Plan at DC Office Building

Washington DC + Student Housing

Banyan Street Capital has commenced an $8 million capital improvement plan at 1250 H Street, a 199,016-square-foot office building in Washington, D.C.’s East End submarket. The upgrades will include new exterior updates, a brand new two-story lobby and a 140-person conference and lounge amenity to add to the full-service gym and outdoor rooftop amenity space....

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Prologis Redevelopment of Caltrain Railyards Could Add 4,000 Homes

California & West + Apartment Buildings

Prologis Inc. said it intends to file plans later this year for a seven-million-square-foot redevelopment of the Caltrain railyards at Fourth and King Street that could add 1,500 to 4,000 homes. The San Francisco Business Times reported that if fully built, the project would rank among San Francisco’s largest housing additions near a major transit...

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Canadian and U.S. Leaders Not Seeing Eye-to-Eye on Trade

Canada + Apartment Buildings

(Editors Note: The Prime Minister’s Office announced later Monday that PM Mark Carney and U.S. President Donald Trump are aiming to complete a trade and security deal within 30 days.) The U.S. and Canada have different concepts that are holding up a trade deal between the countries, Donald Trump said Monday. The expected deal will...

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Renters Outnumber Owners in 200-Plus Suburbs Across Major Metro Areas

Apartment Buildings

High prices for single-family homes are helping to drive renting in the suburbs, CNBC reported, citing a report from Point2Homes. The rental market research firm found that renters outnumber owners in 203 suburbs across the 20 largest metro areas in the U.S., including 15 suburbs that turned renter-majority in the space of five years. Between...

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Eco-Friendly Apartments Open in Phoenix

Phoenix & Southwest + Apartment Buildings

Habitat Metro has completed ECO Phoenix, a multifamily property located at 301 E. Roosevelt in downtown Phoenix. ECO Phoenix, which totals 125,000 SF and comprises one five-story building, was designed by CCBG Architects. It is owned and developed by Habitat Fenix LLC, a joint venture between Habitat Metro (Principals Tim Sprague and John Hill) and Fenix Private Capital Group (Thomas...

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Empire Group Starts Work on Old Town Scottsdale Senior Living Community

Phoenix & Southwest

Empire Group of Companies and Brinkmann Constructors have broken ground on The Osborn, a high-end senior living community in Old Town Scottsdale. The 226-unit, 420,000-square-foot project will deliver a full continuum of care, from Active Adult to Memory Care. Offering 118 active adult units, 74 independent/assisted living units with full kitchens, and 34 memory care...

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Toll Brothers, Pondmoon Team Up on Frisco Rental Community

Texas + Apartment Buildings

Toll Brothers utilized a $49.5 million construction loan from Santander Bank to build a 285-unit high-end multifamily community in Frisco. Toll Brothers partnered with Pondmoon Capital on the project, which is now open. Located at 8320 Church St. within the master-planned Frisco Square community, Mirra is close to Highway 289 and Toyota Stadium. Downtown Dallas...

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LEDG Converting Dallas Apartments to Affordable Housing

Texas + Apartment Buildings

LEDG Capital closed financing for a 113-apartment mixed-income property in Dallas. The company plans to convert the community into 100 percent affordable housing and renovate the property.  Under the plan, the 90 market-rate units at Paradise Gardens Apartments will be converted to affordable housing for 30 years under a Low-Income Housing Tax Credit Land Use...

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