Apartment City

GREENWICH, Conn.--( BUSINESS WIRE )-- Wheelock Street Capital announced today that a joint venture between affiliates of Wheelock Street and Iconic Development recently acquired Terrace View Apartments , a student housing complex in Blacksburg, Virginia. Blacksburg is the home of Virginia Polytechnic Institute and State University (“ Virginia Tech ”), and Terrace View Apartments serves as a prime source of housing for Virginia Tech’s undergraduate and graduate student populations. On May 25 th , the joint venture acquired Terrace View Apartments from affiliates of The Stonemark Group , an Atlanta, Georgia based multifamily management and investment firm . The terms of the transaction were not disclosed. Stonemark will continue to manage the property. Reznick Capital Markets was engaged by Iconic Development to raise joint venture equity for the acquisition and directed the deal to Wheelock Street . John Lustgarten, managing director at Reznick, commented, “We thought Wheeloc...

Media playback is unsupported on your device Media caption What has been achieved in 30 years of redevelopment in Cardiff Bay? Future development of Cardiff Bay needs a more coordinated approach to ensure its success, the man behind its reinvention 30 years ago has said. Lord Crickhowell has hailed the overall regeneration of the former derelict docklands as a major success. But he is fiercely opposed to the latest plans to redevelop land for flats, including a 24-story building. Three decades after he sparked plans for one of the biggest overhauls the city has seen, what has been achieved? Image caption Cardiff Bay waterfront in 1977 - derelict before regeneration Once the epicentre of Wales' booming coal and export industries, by the 1980s, Cardiff Bay had become an abandoned wasteland of derelict docks and mudflats. A victim of a dramatic fall in trade following World War Two and competition from other ports saw its decline and a plan was put in place to bring it back to lif...

Aparthotels Adagio launches in Liverpool" src="http://www.hospitalityandcateringnews.com/wp-content/uploads/Pic156.jpg" alt="" width="599" height="127" /> Aparthotels Adagio , part of a joint venture between Pierre & Vacances Center Parcs Group and Accor, will open its first British aparthotel in Liverpool this week. Following the launch of the brand this year, the UK is set to become one of the key growth territories in Europe, besides France and Germany. Aparthotels Adagio has an aggressive European expansion plan to add 60 aparthotels in the next three years bringing the total to 150 properties worldwide with more than 19,000 individual apartments. After the opening of Liverpool, Adagio plans to open Birmingham in 2014 and has major projects in the pipeline in London, Edinburgh, Manchester, Glasgow for both, Adagio and Adagio access . An upper- midscale brand , Aparthotels Adagio offer comfortable and spacious apartments in ...

OMAHA, Neb.--( BUSINESS WIRE )-- Marcus® Hotels & Resorts , a division of The Marcus Corporation (NYSE: MCS), and Marriott Hotels announced today the official opening of the Omaha Marriott Downtown at the Capitol District in Omaha, Neb. The 333-room, 12-story hotel is the first new full- service premium hotel to open in Omaha in more than a decade. It also serves as a major anchor of the Capitol District, an upscale urban destination dining and entertainment district located in the heart of downtown Omaha . Marcus Hotels & Resorts is a minority investor in the property and is managing the new hotel. “We are thrilled to officially welcome guests to the Omaha Marriott Downtown located in the city’s first entertainment district, the Capitol District. Led by General Manager Steve Hilton , the hotel team has spent countless hours over the past year ensuring that the Omaha Marriott Downtown is an exceptional place to stay, meet, relax, dine and celebrate,” said Joseph Khairal...

It’s common knowledge that a window view of New York’s Central Park saps a hefty premium from your account. Still, one development company recently redefined what “premium” means, listing an apartment with a view of the iconic park for a surreal sum of $250 million. The apartment spans floors 50 to 53 of the 220 Central Park South skyscraper; its developer,  Vornado Realty Trust , revealed the price in a filing to the New York attorney general , The Real Deal reported. Given recent headlines about New York apartments on sale for $100 million, $115 million, or even $120 million, another nine-figure listing may not sound that groundbreaking. So let’s take a step back. How much is $250 million in the real estate world ? It’s about the construction cost of the entire Chrysler Building —in today’s dollars. For the same money you can buy the three of the most expensive estates in the Hamptons and still have enough money left to buy a 2-bedroom apartment on the Upper West Side —with a view...

Though the airline has kept a reserve price of Rs 315 crore for these properties, it hopes to make around Rs 500 crore from the sale. Illustration: Uttam Ghosh/Rediff.com Various government departments as well as State Bank of India (SBI) have shown interest in buying the properties to be auctioned by Air India in Mumbai, sources in the know said. Advertisements, issued last week, got good response from prospective buyers, sources said. “Some government departments want to buy the apartments directly,” they added. Air India is e-auctioning 41 apartments in Mumbai in the first phase. The carrier plans to auction its properties in other cities soon. Though the airline has kept a reserve price of Rs 315 crore (Rs 3.15 billion) for these properties, it hopes to make around Rs 500 crore (Rs 5 billion) from the sale, said sources. Out of the reserve price, one building in Mumbai’s Pali carries a reserve price of Rs 200 crore. “The Pali building has 12 apartments and unused development rights...

How the fight against displacement calls for New York City’s Asian immigrant communities to defect from the “ model minority ” narrative. Media Gallery When NYU sophomore Sam Kim attended a rally outside Manhattan’s City Hall in March, he didn’t think that he would be ushered into the spotlight. Kim had learned of the rally through the local housing organization CAAAV (Committee Against Anti-Asian Violence), which called on New Yorkers to oppose President Trump ’s proposed $6.2 billion cut to the 2018 budget of the Department of Housing and Urban Development (HUD). This cut would dramatically reduce federal funding for New York City public housing , which currently provides rent-subsidized homes to 600,000 New Yorkers. Along the City Hall steps , Kim and two fellow student organizers joined a rare gathering of tenants from otherwise disparate peripheries of the city. Asian immigrants from Chinatown and Queens stood alongside Black and Latino residents of Brooklyn and the Bronx...