San Diego Real Estate Management Firm Acquires $11.7 Million Apartment Complex
In partnership with HG Capital, San Diego-based commercial real estate firm Tower 16 Capital Partners has acquired their first multifamily project in Phoenix, Ariz. Lilly Garden Apartments is the 180-unit multifamily property Tower 16 purchased from a private seller for $11.7 million, or about $65,000 per unit.
Progress on “Architecturally Impressive” Building in San Mateo Proceeds
The $88 million project to build a Kinesiology and Wellness Center at San Mateo County Community College is on target. General contractor Blach Construction is working in tandem with California-based firm ELS Architecture. Once complete in spring 2021, the two-story building will provide 115,000 square-feet of modern and accessible space to students and the San Mateo community.
Development Company SWAP Gearing up for Mixed Use and Renovation Project
Stop Wasting Abandoned Property (SWAP), a development company in Providence, R.I., has announced it will build two new mixed-use buildings. The company will use $15.5 million it receives from various state and city sources for the project. In keeping with the name, SWAP will also renovate an existing apartment complex.
Council Officials in Havre de Grace Pass Ordinance Allowing Mixed Use Development
The City Council in Havre de Grace, Maryland has passed an ordinance that will allow mixed-use development. Following the ordinance’s passage and changes to the city zoning code, mixed-use developments can now be built in commercial zones.
New Research Shows Engineered Stone Products Trending Globally
A recent report predicts a rapid increase in the engineered stone market. According to the report by Transparency Market Research, engineered stone’s global market growth can be attributed to the similar growth in the building and construction industries.