DENVER-Developers Jeff Selby and Michael Brenneman find a way to work around the difficulty obtaining financing for hotel projects in the wake of Sept. 11--build a 100-room hotel as a condominium form of ownership.
DENVER-New Jersey-based National Hockey League wants to focus on owning and operating skating rinks on the East Coast, so it has put its two-rink project at the former Lowry Air Force base on the market for $7.4 million, $2.1 million less than a recent appraisal.
DENVER-Borrowers putting in more equity can shave as much as one point off their interest rate, says Eric Tupler of L.J. Melody & Co., especially if they opt for shorter term mortgages.
DENVER-Sedgwick Properties Development Co., which has developed urban infill projects in the trendy Lincoln Park and Wrigleyville neighborhoods on Chicago's North Side, plans a 143-unit Tower on the Park condominium project.
DENVER-Despite a sales volume 35% lower than 2000, the average price per unit for class A sales involving 50 or more units that closed in 2001 rises 8.5% to $79,066. Prices for smaller developments rise 16.7% to $57,899.
DENVER-Equity Office Properties fills a void created by the departure of the Invesco mutual fund family to the west side of the Denver Tech Center by landing the mine-services organization to two buildings.
DENVER-Mayor Wellington Webb blames difficulty obtaining hotel financing in the wake of the Sept. 11 terrorist attacks for the plug being pulled on a 1,100-room Hyatt Regency hotel plan.
DENVER-Retail sales in Colorado rise 1.3% in 2001, off from Fuller and Co.'s estimate of a 4.6% increase. The tepid increase follows an 11% increase in 2000. Furniture and home furnishing sales plunge by 7.8%.
DENVER-The 100,000-sf, $20-million-plus neighborhood center is open for business with a Whole Foods Market the first new Boston Market in the Denver area since the chain was bought out of bankruptcy.
SEATTLE-Morning Eagle, a new village by Houston-based Hines Interests LP that will more than triple the bed base in this ski resort community, is being designed by Seattle-based Callison Architecture.