News
Trammell Crow Residential, Equal Rights Center Agree to Start New Program
As part of its settlement with the Washington, D.C.-based Equal Rights Center, Trammell Crow Residential Co. has announced it plans to help form the Equal Rights Center Multifamily Housing Resource Program (MHRP). Trammell Crow committed $1.5 million over the course of 10 years to fund the project.
Mixed-Use Developers Optimistic Despite Sluggish Retail Numbers
Sluggish third-quarter earnings for retailers do not bode well for developers trying to attract these tenants to their mixed-use properties. But developers remain optimistic, despite more bad news as the holiday season approaches. The Commerce Department’s report last week that its broad measure of U.S. retail sales dropped by 2.8 percent in October—the largest monthly drop since records began in 1992.
Hurricane Proof: Gulf Coast Developers Look for Ways to Shore Up Their Properties from Stormy Weather
Charley, Frances, Jeanne, Ivan, Katrina, and Rita. Famous siblings? Well, they are related in a sense. They are the series of hurricanes that pummeled the Gulf Coast between 2004 and 2005, leaving thousands homeless and causing millions of dollars in damage. The devastation of Hurricane Katrina alone—the costliest and deadliest of all the storms—was enough to convince developer Jim Hayes to follow a different model with his new residential property, Audubon Village, along the Texas coast.
Affordable Housing Industry Roundtable: Where Does the LIHTC Industry Go?
Less than 24 hours after the election of a president who represents change, more than two dozen affordable housing leaders assembled to hash out ideas for getting through the financial crisis in the low-income housing tax credit (LIHTC) market.
MetLife, MDM Secure $250 Million Construction Loan
Joint venture partners Miami-based MDM Development Group and MetLife Insurance Co. put a big dent in the debt market crisis late last month, securing a $250 million construction loan for a multi-phase, $1.5 billion mixed-use development—Miami Metropolitan—in downtown Miami.
