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Daily News: Wednesday 2/5/20


Cree to Build $1 Billion Complex

Cree, a semiconductor manufacturer based in Durham, N.C., has called for the construction of three buildings at the planned Cree Wolfspeed Mohawk Valley Fab at the Marcy Nanocenter in Marcy, N. Y. The included buildings are: a fabrication facility, an office, and a central utility building. The project is estimated to cost $1 billion and will be completed by Q4 2021.

ArtsCenter Gets Funding Boost 

The ArtsCenter in Carrboro, N.C. has recently received a $1.6 million substantial grant which will go toward the construction of its new headquarters. The new building will cost a total of $5 million and will include ceramic spaces, classroom space, visual arts space, a maker space, a gallery, and a performance space. Plans call for the opening of the new center in the next two to three years.

Qatari Bank Buys Seattle Office Complex 

A Qatari bank, First Bank, has bought an office complex in Seattle for $117 million. The 262,000 square-foot complex consists of four buildings and is fully rented by telecommunication giant T-Mobile and software company Mindtree. This acquisition represents the bank’s fourth acquisition in the U.S. real estate market, although it’s unsure if there are plans for future purchases in the works.

$65.75 Million Project Planned in in Brooklyn

Daten Group, a NYC-based real estate development firm, has unveiled plans to construct a nine-story, 135-unit mixed-use project in Brooklyn’s Clinton Hill neighborhood. The 117,000 square-foot building will also have 6,000 square-feet of retail and a 56-car enclosed garage. The $65.75 million project will conclude construction in 2022.

San Antonio to Get New Hotel 

The San Antonio River Walk is poised to get a new hotel in 2023. The 217-room hotel will have multiple dining and nightlife venues, a rooftop pool, and a 10,000 square-foot meeting space. The project will be managed by Dream Hotel Group and will be designed by CUBE3 Architects. The building’s estimated cost is currently unknown.

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