Civic Development News and Data
The latest local trends, news and insights on infrastructure, economic development, housing and economics.
Pitbull Secures $6 Million Naming Rights Deal for FIU Football Stadium
Musician Pitbull has successfully secured a five-year, $6 million deal to rename FIU's football stadium, making FIU the first college to name a facility after a musician. Under the deal, Pitbull is expected to pay the school $1.2 million yearly for the next five...
Salt Lake City Affordable Housing Project Receives $64.7 Million Financing Package from KeyBank
Blaser Ventures has secured a $64.7 million financing package from KeyBank Community Development Lending and Investment for the construction of Silos Apartments, a high-rise affordable housing project in Salt Lake City, Utah. The package, facilitated by KeyBank,...
After Proposition 123 Approved by Colorado Voters, Governor Announces Awards to Six Affordable Housing Projects
In line with Colorado voters giving the green light to Proposition 123, an affordable housing initiative that allocates 40% of the State Affordable Housing Fund to the Colorado Affordable Housing Support Fund and 60% to the Colorado Affordable Housing Financing Fund...
Pasadena City Council To Review Housing Legislation, Aiming to Boost Affordable Housing Development
As the state tackles its ongoing housing crisis, the Legislative Policy Committee of Pasadena City Council reviews its housing legislation in hopes of boosting affordable housing development and improving its housing policies. Some of the measures included in the...
Marcus & Millichap Completes the Sale of a $71 Million Affordable Housing Property
Located in San Jose, California, the 160-unit affordable housing complex Moreland Apartments was recently sold for $71 million, or $443,750 per unit, by Marcus & Millichap, a real estate brokerage firm. In its press release, Marcus & Millichap said: On the...
Financing Secured for Affordable Senior Housing Next to Google HQ in Manhattan
Jonathan Rose Companies and Atlas Capital Group have secured financing for 570 Washington Street, a 175-unit affordable senior housing project to be developed next to Google’s headquarters in Hudson Square. Detailing the financing package, 6sqft reported: ...
HUD Awards $20 Million Federal Grant to New Haven Senior Living Facility for Building Upgrades
Good news for the management and residents of The Towers at Tower Lane, a New Haven senior housing facility, as it receives $20 million federal grant from the Department of Housing and Urban Development. The grant will be used for eco-friendly upgrades, and to replace...
$22.2 Million Bond Issued by MassDevelopment to Fund Affordable Senior Housing in Foxboro
MassDevelopment recently issued a $22.2 million tax-exempt bond for an affordable senior housing project on Walnut Street to construct 80 units as part of phase one of the project's development. WPRI 12 reported: The one-bedroom units from phase one will be rented to...
Whistleblower Complaint Leads to Cancellation of RFP Award to Salt Lake City Senior Center Project
Salt Lake County's Sunday Anderson Senior Center development project has encountered a setback after a whistleblower's complaint led to the rescission of the recently awarded RFP contract. SLC Mayor Jenny Wilson canceled the award just a week after it was announced...
$285.5 Million Refinancing Deal Completed for Temple University Student Housing by Walker & Dunlop
Vantage and The View, two student housing facilities on Temple University's campus, gained a financial boost as Walker & Dunlop successfully closed a $285.5 million refinancing deal for the said properties. Business Wire reported: Walker & Dunlop’s Bethesda...
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