Chinese State Bank Files Wind-Up Petition Against Shimao Developer
A Chinese state bank has filed a petition to wind up a private developer, signaling the developer's deepening financial troubles.
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Private Developer
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ASTM Proposes $6B Penn Station Overhaul, Critics Question MSG Favoritism
A private developer, ASTM North America, has unveiled a competing plan for the redesign of Manhattan's Pennsylvania Station, claiming it would be significantly cheaper than the Metropolitan Transportation Authority (MTA)-backed proposal. The ASTM plan involves overhauling Penn Station and wrapping Madison Square Garden in a stone facade. The firm argues that its plan would save at least $1 billion and result in a more unified train hall. The announcement is expected to fuel conflict between ASTM and the MTA, with the decision on which plan to pursue being made jointly by Amtrak, New York, and New Jersey.
ASTM Proposes $6B Penn Station Redesign, Critics Question MSG Favoritism
A private developer, ASTM North America, has unveiled a competing plan for the redesign of Manhattan's Pennsylvania Station, claiming it would be significantly cheaper than the Metropolitan Transportation Authority (MTA)-backed proposal. The ASTM plan involves overhauling Penn Station and wrapping Madison Square Garden in a stone facade. The firm argues that its plan would save at least $1 billion and result in a more unified train hall. The announcement is expected to fuel conflict between ASTM and the MTA, with the decision on which plan to pursue being made jointly by Amtrak, New York, and New Jersey.
"New Public Park Development Sparks Controversy in Austin"
A private developer, Taurus Investment Holdings, plans to build a 600-acre public park in east Austin that will be donated to the city's park system once completed. The park will cost $8 million and will be built over six to seven phases in the next seven years. It will feature a 12-foot wide paved trail, an outdoor amphitheater, picnic areas, playgrounds, and shade structures. The park will be located next to Whisper Valley, a sustainable community in the highway 130 corridor in east Austin.