All articles tagged with #real estate development
Sears, once a retail giant, is nearing its end with only five stores remaining, as its former savior, hedge fund manager Edward Lampert's plan to redevelop its properties into mixed-use developments has failed, leading Seritage Growth Properties to offload its assets and pay down debt.
Comcast and Harris Blitzer Sports Entertainment, owners of the Philadelphia 76ers, have purchased multiple properties on East Market Street as part of their ongoing efforts to revitalize the corridor, despite abandoning earlier plans for a new arena in Center City. The $56 million acquisition signals their continued interest in the area, with future development plans to be announced.
Sazan Island, a pristine and historically military site in Albania, is on the verge of being transformed into a luxury resort by Ivanka Trump and Jared Kushner's real estate firm, sparking concerns over environmental impact and geopolitical implications, as the Albanian government supports the project with incentives despite environmentalist protests.
The Oklahoma City Council has approved plans for Legends Tower, a 1,907-foot skyscraper that will become the tallest building in the United States, surpassing One World Trade Center. The tower, part of a mixed-use development in the Bricktown district, will include a hotel and over 1,000 luxury apartments, along with 200 affordable housing units.
Core Redevelopment transformed the abandoned Bush Stadium in Indianapolis into the Stadium Lofts, a luxury apartment complex with 138 units, for $14 million. The project, which preserved many original stadium features, was completed in under two years and has been fully leased since its opening in 2013. The developers also built an additional 144 apartments in the adjacent Stadium Flats.
Dan Gilbert's real estate firm, Bedrock, has officially named its skyscraper project on the former J.L. Hudson’s department store site as Hudson’s Detroit, paying homage to the site's historical legacy. The development, which broke ground in 2017, will feature 1.5 million square feet of office, retail, food, residential, hotel, and event space, with construction ongoing through the spring in a phased approach.
Anne Reynolds purchased a plot of land in Hawaii with plans to build a women's wellness retreat, only to find a $500k house built on it without her knowledge. The developers mistakenly built the house on her land and are now suing her, along with the construction company and others involved. Despite being offered an adjacent plot of land, Reynolds rejected the offer, viewing her purchased land as sacred. Her lawyer argues that she should not have to pay anything to the developers, as it would set a dangerous precedent for land ownership. The legal battle continues while the house remains occupied by squatters.
A woman in Hawaii is facing a legal battle after a construction company mistakenly built a $500,000 home on her property, which she had purchased for $22,500 at a tax auction. The company intended to build homes on properties it had bought in the subdivision but accidentally constructed one on the wrong lot. The woman, Annaleine Reynolds, is being sued by the developers, who offered to swap her lot or sell her the house at a discount, but she refused. The case involves multiple parties, including the construction company, the home's architect, the previous property owners, and the county that approved the permits, and is headed to court for resolution.
Jared Kushner suggested moving Palestinians from Gaza's "valuable" waterfront to Israel's desert region, citing potential for real estate development and downplaying the current humanitarian crisis. He proposed displacing Palestinians to the Negev desert, despite its harsh conditions, and dismissed the idea of a Palestinian state as a "super bad idea." His comments have sparked controversy and raised concerns about the future of the Palestinian-Israeli conflict.
Orlando Capote has been fighting developers and the city of Coral Gables for over two decades to protect his parents' home, which is now surrounded by a million-square-foot complex. Despite facing code violations and fines, Capote refuses to sell his Mediterranean-style house, the last one left in the neighborhood, to developers. The struggle highlights the clash between property rights and real estate development in the area.
Texas Attorney General Ken Paxton has filed a lawsuit against the Colony Ridge development in Liberty County for deceptive trade practices, fraud in real estate transactions, and other violations of Texas and federal law. The lawsuit alleges that Colony Ridge targeted foreign-born and Hispanic consumers with limited access to credit, made false promises about land and financing, and misrepresented the conditions of the land and community. The predatory practices have led to a foreclosure rate 50 times greater than the national average, causing unjust harms to nearby communities.
Developer Related Midwest has released additional renderings of the potential new White Sox stadium at The 78 site, showcasing a proposed stadium structure anchoring the high-rise district with home plate at the southwest corner and a new public plaza to the north. Negotiations are ongoing with the White Sox about the possibility of building a new stadium on the 62-acre South Loop property, with discussions involving Mayor Johnson and state representatives regarding potential public funding. The future of Guaranteed Rate Field and the surrounding area is in question as the White Sox consider a move closer to downtown, and Related Midwest has conceptual ideas for the property at 35th & Shields, subject to community input.
Scot Matteson, a developer with an opaque background, is proposing to build the country's tallest tower in Oklahoma City as part of The Boardwalk at Bricktown project, which includes four towers and 2.7 million square feet of space. Despite claims of 40 years of development experience and involvement in various projects, details about his companies and completed projects are sparse. His enigmatic persona, brief high-profile relationship, and limited digital footprint raise questions about his ability to realize the ambitious project, especially in the face of financing challenges and skepticism from partners.
Matteson Capital, a California-based real estate developer, has proposed plans to build the tallest building in the United States, a 1,907-foot skyscraper, in Oklahoma City as part of the Boardwalk at Bricktown development project. The ambitious mixed-use project includes hotels, residential units, retail and restaurant spaces, and a public observatory. The city would need to rezone the property before construction can proceed, but the developer believes that Oklahoma City's growth and transformation make it well-suited for such a large-scale project.
The owner of Sponge Factory Lofts in South Kensington is planning to triple the housing capacity by adding micro units in a six-story addition, along with 13 artist studios. The proposal has faced criticism from the local neighborhood group due to concerns about building height, unit size, and the prioritization of residential units over industrial uses. Despite the negative reactions, the expansion does not require certain approvals and will be considered by the Civic Design Review committee next month.