Civic Development News and Data

The latest local trends, news and insights on infrastructure, economic development, housing and economics.

Pfizer Agrees to MFN Drug Prices, $70B in U.S. R&D and Production

Pfizer has struck a deal with the Trump administration to provide all of its prescription drugs to Medicaid patients at “most favored nation” prices, and to pledge $70 billion in new U.S. production and R&D investments. The company also plans to offer...

D.C. Council Approves $3.7B Commanders Stadium and Development Deal

The D.C. Council approved a $3.7 billion deal to bring the Washington Commanders back to the RFK Stadium site, clearing the way for a new 65,000-seat football stadium and mixed-use development along the Anacostia River. The project includes $1 billion in taxpayer...

California Greenlights $20 Billion Funding for High-Speed Rail Project

California lawmakers have approved a plan to provide up to $20 billion in new funding for the state’s high-speed rail project, after President Trump pulled funding from the effort. The money, drawn largely from Cap-and-Trade revenues, will help complete the initial...

Civic Development Podcast #3: P3s Unplugged with Thomas John, Seth Miller Gabriel and Jeremy Ebie

Episode #3: P3s Unplugged: Insights from the Washington DC Streetlights Project Three infrastructure insiders join us to break down the Washington DC Streetlights P3 Project, a case study of innovative thinking in urban development. The panelists share their insights...

$370M Microchip Facility to Boost Louisiana Economy, Add 300 Jobs

Radiance Technologies will invest $370 million to build a secure microchip research and manufacturing plant in Ruston, Louisiana. Backed by nearly $37 million in state support, the project is expected to create 150 direct jobs and 149 additional indirect positions....

Hyundai Raises U.S. Investment to $26 Billion

Hyundai Motor Group will boost its U.S. investment to $26 billion over the next four years, targeting steel, automotive, and robotics production. The plan includes a new low-carbon steel plant in Louisiana, increasing U.S. car production to 1.2 million units annually,...

Kentucky, Indiana Approve $933 Million I-69 Bridge Project

The Kentucky Public Transportation Infrastructure Authority and Indiana reached an agreement to move forward with the $933 million I-69 bridge over the Ohio River. Kentucky will financing, planning, and construction of the bridge, with costs shared equally between the...

Civic Development Podcast #1: The Big Beautiful Bill and Affordable Housing in the 2nd Trump Administration with David Gasson

Episode #1 David Gasson of MG Housing Strategies joins us to break down everything affordable housing professionals need to know about the state of play in the 119th Congress and the 2nd Trump Administration. * The episode begins with a discussion on the 2nd Trump...

GE Appliances to Invest $490 Million in Louisville, Kentucky Washer Plant

GE Appliances announced a $490 million investment to build its most advanced washer manufacturing plant at its Louisville, Kentucky headquarters, reshoring production from China and creating 800 new full-time jobs. The move strengthens Kentucky’s role as a hub for...

US Jobless Claims Climb Sharply, Highest Since 2021

Recurring jobless claims in the U.S. climbed to their highest level since November 2021, pointing to a labor market where unemployed workers are taking longer to find new jobs. Initial claims, however, dipped, which together with the increase in recurring claims...

New York City Regional Center Receives $50 Million New Market Tax Credit to Support Community Development Projects

Nov 7, 2024 | Credits and Incentives, Finance - Economic Development, Finance - Incentives

With a goal of bringing positive change to underserved areas of New York City, New York City Regional Center (NYCRC) has received a $50 million New Market Tax Credit award from the Community Development Financial Institutions Fund of the U.S. Department of Treasury,...

Boston Financial Closes $170 Million LIHTC Fund to Support Affordable Housing Development

Nov 7, 2024 | Credits and Incentives, Finance - Economic Development, Finance - Incentives

Boston Financial announced that it has successfully closed ITC 60, a $170 million multi-investor LIHTC fund with commitments from six institutional investors, which will provide capital to 14 affordable housing developers. ITC 60 is expected to support both new...

$36 Million Acquisition Financing Deal for UC Berkeley Student Housing Property

Nov 5, 2024 | Finance - Specialty Housing, Student Housing

JLL Capital Markets has successfully facilitated a $36 million acquisition financing deal for Hawkins Way Capital to acquire Varsity Berkeley, a 79-unit student housing property near the University of California, Berkeley. The newly developed property was previously...

Oceanside, CA Affordable Housing Project Gets $45M Financing From State Bonds

Nov 5, 2024 | Affordable Housing, Finance - Specialty Housing

$45 million in financing from tax-exempt state bonds has been approved for the development of a $56 million affordable housing project on South El Camino Real in Oceanside, which will include the construction of 111 rental apartments for low-income households. These...

Easthampton, MA Secures $4.4M Grant for Affordable Housing Project

Nov 5, 2024 | Affordable Housing, Finance - Specialty Housing

Easthampton, Massachusetts has secured a $4.4 million HousingWorks grant, which will be allocated toward the development of a 96-unit affordable housing project at 11 Ferry Street. Led by Home City Development, the project will transform a former mill complex into a...

Capital One Secures $90.5M for Senior Housing Project in Oakland, CA

Nov 5, 2024 | Finance - Specialty Housing, Senior Housing

Capital One has announced that it has successfully closed a $90.5 million financing package to support Chinatown TOD Senior Housing, a 97-unit affordable housing community for seniors in Oakland, California. The financing includes a $41.2 million low-income housing...

Washington D.C. Enters Into Public-Private Partnership for $800M Capital One Arena Transformation

Nov 2, 2024 | Finance - Infrastructure, Public Private Partnerships (P3s), Stadiums

Monumental Sports & Entertainment and D.C. Mayor Muriel Bowser recently announced the introduction of legislation supporting their public-private partnership for the $800 million modernization of Capital One Arena, which will be backed by a $515 million investment...

TxDOT Breaks Ground on $4.5B I-35 Expansion Project

Nov 2, 2024 | Finance - Infrastructure, Finance - Public Projects/Construction, Infrastructure, Transportation

The Texas Department of Transportation has officially broken ground on the $4.5 billion I-35 Capital Express Central project, which will add two non-tolled high-occupancy vehicle lanes in each direction along I-35 from US 290 East to SH 71/Ben White Boulevard. This...

FHA Awards $635 Million for 22 U.S. Bridge Projects

Nov 2, 2024 | Finance - Infrastructure, Finance - Public Projects/Construction, Infrastructure

The Federal Highway Administration has announced nearly $635 million in funding for 22 bridge projects located in both urban and rural areas across the U.S. Made possible through the Bipartisan Infrastructure Law, this investment is part of a $40 billion, five-year...

Federal Railroad Administration Awards $2.4 Billion in CRISI Grants for Rail Projects