Chicago-based Sterling Bay has announced a new strategic partnership with Tributary, a luxury residential community in the Teton Valley outside of Jackson Hole.
Tributary joins Sterling Bay’s collection alongside Victory Ranch in Utah, bringing its total portfolio to over 8.6 million square feet and a $15 billion development pipeline. Tributary is a 1,500-acre private residential community located in Driggs, Idaho, due west of the Teton Mountain Range and a half hour from Jackson Hole. It offers amenities including a two-mile, elevated boardwalk, an 18-hole David McLay Kidd-designed golf course, several fishing ponds, and cross-country skiing trails.
Beyond Tributary’s continued development and addition of homesites, the investment will support a robust expansion of Tributary’s on-site amenities, beginning with a brand-new activity center now underway. The space will feature an indoor-outdoor coffee shop, gym, basketball court, and golf simulators.
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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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