Tag: affordable housing
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Affordable Lender CPC Gets $250M Boost
http://therealdeal.com/blog/2013/03/12/nonprofit-lender-cpc-gets-250m-boost-from-citigroup/
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Atlantic’s Credibility Crisis
Wow – Atlantic Cities let someone with no clue about development in Brooklyn write about development in Brooklyn. The basic premise of the article is that zoning (both use and FAR limits) is making housing more expensive by restricting the amount of new housing that can be constructed. In other words, the classic libertarian argument…
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Renderings: New Development at Manhattan and Box
http://greenpointers.com/2013/01/10/new-development-at-manhattan-and-box/
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New Affordable Development in Greenpoint
http://www.crainsnewyork.com/article/20121226/REAL_ESTATE/121229966
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Domino Sells
DUMBO-based Two Trees has closed their deal for the Domino sugar refinery site, for what appears to be $185 million ($20 million more than the price that Two Trees supposedly went into the negotiations at). According to the Times, the price increase came after co-owner Isaac Katan made an offer with developers Chetrit Group and…
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Related, Silverstein Also Looked at Domino
The Commercial Observer has more information on the Two Trees acquisition of the Domino site, including the fact that two other major developers – The Related Companies and Silverstein Properties – were interested in the site. The Observer seems to agree with everyone else (myself included) that Two Trees is a good fit for the…
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Community Anxious Over Possible Domino Sale
Crain’s has some follow up community reaction to the news that Two Trees might be buying the Domino site. Apparently the community, or at least Isaac Abraham, is “anxious” about the sale: Any developer or investor who wants to purchase Domino without committing itself to the 660 affordable units, should really think twice,” said Isaac…
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Two Trees to Buy Domino?
The Daily News and Crain’s are reporting that CPCR has reached a deal with Two Trees to sell the Domino project for $160 million. CPCR and its partner Isaac Katan bought the Domino site in 2006 for $55 million. Since then, they have rezoned the property for residential use and gotten stuck in a morass…
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LPC Warehouse RFP Issued
http://www.brownstoner.com/blog/2012/05/city-seeking-developer-to-turn-old-lpc-warehouse-in-williamsburg-into-affordable-housing/#more-95640
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Katan Loses Domino Suit
The Observer reports that Isaac Katan failed to secure an injunction against his partner in the $1.5 billion Domino development from selling a majority stake in the project. The decision appeared to clear the way for the Community Preservation Corporation, a joint owner of the site, to proceed with a deal to hand the majority…