Tag: redevelopment

Creative Funding

City Center Community

Desperate times call for creative solutions. The city of Allentown, Pennsylvania faced a multimillion-dollar deficit, high crimes rates, and a dwindling population. A unique approach to capital investment saved the city, producing what the mayor calls “Allentown 4.0.” William Billowitch, Controller, City Center Investment Corporation, sits down with Yardi to explore the organization’s singular approach […]

News, People

Western Focused

LocalConstruct Grows + Thrives

Casey Lynch and Mike Brown were graduate school classmates at UCLA when they started their real estate investment and development company, LocalConstruct, with limited funds and bona fide sweat equity. “We bought a $55,000 condominium in Fontana, Calif. that we painted and renovated ourselves. We were at Home Depot, buying our own supplies,” recalled Lynch. […]

News

Sears HQ Repurposed

Historic, Affordable Housing

In the United States, the dire need for affordable housing continues. The nation currently faces a deficit of 7.4 million affordable units for those earning less than 30 percent of the local median income. In an effort to develop inexpensive housing in desirable areas, numerous project developers have opted to repurpose existing buildings. Bloomberg reports […]

News

NFL’s Hollywood Park

Kickoff for Mixed Use

Designer HKS and developer Hollywood Park Land Company are changing the face of mixed-used facilities. The duo behind the Hollywood Park complex will tap into several revenue streams with a built-in consumer base. After more than a decade of anticipation, the 238-acre Hollywood Park project is finally underway with gusto. Ground broke back in 2014. […]

People

East End Revitalized

Richmond Redevelopment & Housing

Yardi client Richmond Redevelopment and Housing Association (RRHA) recently broke ground on the expansive Churchill North/East End Revitalization project. East End Revitalization will include the demolition of the 504-unit Creighton Court public housing community. It will be replaced with a mixed-income community of nearly 1,000 energy efficient homes and apartments. Residents can choose between more […]

News

Crest Manor

Addressing Affordable Housing

Redevelopment and new construction at Crest Manor apartments in Willow Grove, Pa., began on April 13, 2016. The new construction will provide subsidized housing to the state with one of the most significant shortages. Montgomery County Housing Authority (MCHA) constructed the 54-year-old property. The need for updates and repairs for the two-story buildings became critical: […]

News

Military Bases, Reimagined

Base Conversions Offer High Yields

Upcoming military base closures will provide a wealth of opportunities for developers. Beginning in the early 1990s, more than 8,000 military installations in Western Europe and North America shut their doors, according to NATO Review. In the US, 97 facilities were shuttered, resulting in land sales upwards of 100,000 acres and thousands of buildings. With […]

News

Property Enhancement

Adding color and efficiency

The real estate environment is in constant evolution, changing and adapting to accommodate the needs of a diversified pool of customers. To stay on top of the game, investors are constantly looking for the right mix of ingredients to ensure asset performance; more often, it’s a blend of creativity, sustainability and innovation that helps deliver […]

News

Saving the Cities

The rewards of revitalization

Philadelphia, Detroit, Cleveland, Atlanta—these major U.S. cities top data lists as the slowest to recover from the recession. Their areas of weakness include high unemployment rates, failing businesses, job losses, crime, and strained budgets but a greater common theme unites them. The cities are too historic, too important, to fail. Restoring these iconic cities to […]