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June 2014

How Can The Twin Cities Develop the Area Between Them?

Courtney Subramanian | NationalSwell 

With all the reports of a lack of funding of infrastructure and transit projects nationwide, the Twin Cities have some good news to share.

Last Saturday, they celebrated the opening of a third light-rail line: the Green Line.

The nearly $1 billion transportation project is touted as more than just an engineering project to connect the vein that pulses from St. Paul to Minneapolis — it’s the city’s biggest foray into economic revitalization yet.

The Green Line initiative is the result of more than three decades of planning — returning the vacant lots and blighted 11-mile stretch between the two cities back into the bustling corridor it once was during the early part of last century. Known as the Central Corridor, the Green Line’s route will provide public transit from the state Capitol through the area of immigrant-owned, small businesses and to the University of Minnesota’s campus. Read more

Seattle firm buys downtown Salt Lake City’s historic Boston Building

Lisa Carricaburu | The Salt Lake Tribune

A Seattle-based real estate investment company has purchased the historic Boston Building in downtown Salt Lake City for an undisclosed price.

Unico Properties LLC bought the 11-story, 105,649-square-foot office building and an interest in an adjacent parking garage from Chicago-based Hamilton Partners, Unico announced Monday.

The acquisition is the first in Salt Lake City for the Seattle company, which said Hamilton Partners will continue to manage the property for one year. Read more

The Domain developer coming to East Austin: Cap Metro votes on future of Plaza Saltillo

Don Martin | CultureMap

And then there was one. Competition for the redevelopment of East Austin’s Saltillo Plaza came to a somewhat stormy conclusion on Monday night with the Capital Metro Board voting to select the proposal by Endeavor Real Estate and Columbus Realty to redevelop the 10-acre space.

In May, Capital Metro narrowed the choices down to Endeavor’s proposal and a plan by Saltillo Collaborative, an affiliation of various companies led by Austin developers Perry Lorenz and Larry Warshaw, the Trammel Crow Company and the Guadalupe Neighborhood Development Corporation. Endeavor is the developer of The Domain, and Columbus is a major developer of residential units within The Domain.  Read more

Denver plots out strategy to kick off boom near transit stations

Jon Murray | The Denver Post

A new transit station planned for 38th and Blake streets in Denver has the potential to transform the industrial area into a vibrant urban community, neighborhood and city leaders say.

But there are a lot of ifs: More development could sprout in the River North area if, for example, the city builds more sidewalks; if it fixes the storm sewers and streets; and if it creates more ways for people to cross the railroad tracks dividing the area. Read more

Long Island Real-Estate Projects Are Springing Up Near Train Stations

Chelsey Dulaney | Wall Street Journal

Stan Sommers was working the front desk at his Hair Above Salon in Glen Cove last week when a group of local officials and businessmen broke ground next door on the latest of Long Island’s real-estate developments near train stations.

Like many small-business owners in downtowns across Nassau and Suffolk counties, he is hoping the project will help revive areas devastated by the rise of regional shopping malls. Read more

Huge LA Mixed-Use Project Could Change the Face of Chinatown

Bianca Barragan | LA Curbed

All the crane-and-construction action in Downtown has been seeping up into Chinatown for a while now—the Jia Apartments opened recently, the Blossom Plaza complex has finally gotten underway, and the old Velvet Turtle lot has been cleared out for an undetermined future mixed-use project.

Why, the only thing it’s missing now are some residential high-rises. Enter a new proposal by EVOQ Properties (as seen on Building LA), which has two visions—both huge—for a project called College Station on a Gold-Line-adjacent lot at the northeast corner of Spring and College. One plan has two 20-story towersrising on the 5.24-acre lot, along with retail, live/work units, market-rate apartments, a market, parking, and affordable housing for seniors. And even the less ambitious plan would create 533 new transit-oriented units, more than double the apartments in Blossom Plaza, underway just across the street. Both are designed by VTBS Architects. Read more

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