Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Strong demand continued to buoy room revenue and demand, which saw year-over-year increases of 9.4 percent and 4.6 percent, respectively, in February, according to data from STR. Meanwhile, supply growth was low, at 0.9 percent year over year, causing occupancy to grow a mere 3.7
A $450 million expansion and renovation project at the Covenant Medical Center in Lubbock, Texas, has been unveiled and is expected to take up to seven years to complete. Work will include building a new hospital and clinics, plus renovations to the cancer and heart
Magnolia Marketplace, a $24.4 million shopping center, has opened in New Orleans, 10 years after the city was ravaged by Hurricane Katrina – and in some ways, because of it. The land had been a public housing development, and while the city council pushed for
Dallas’ historic Ambassador Hotel has been purchased by a group of developers who plan to restore the property and reopen it as a luxury hotel and apartment building. The Ambassador debuted in 1905 as the Majestic Hotel. Read The Dallas Morning News/Biz Beat blog here
The founders of Rockville, Md.-based fast-casual chain Cava Grill raised $16 million in a third round of funding, which they will use to launch the concept in the Los Angeles area. Cava Grill, spun off from full-service eatery Cava Mezze, has eight units in the
A group composed of Paulson & Co., Winthrop Realty Trust and Capital Trust Inc. has agreed to sell three resorts to Blackstone Group, several sources said. The JW Marriott in Scottsdale, Ariz., and the JW Marriott and Ritz Carlton hotels in Orlando, Fla., which have
Competition for land coming from a booming housing and commercial property market has contributed to an increase in construction costs for hotel projects, according to a survey by HVS, a consulting firm. Rising labor costs amid a skilled-labor shortage and costly design tweaks to appease
A 30-foot-long, 3,400-pound beam was put into place, marking the topping off of the $2 billion hospital at Stanford Health Care in California. The general contractor is a joint venture between Clark Construction and McCarthy Building Cos. Construction of the 824,000-square-foot structure is expected to
Hundreds of people attended a ceremonial groundbreaking of the $800 million MGM Casino in Springfield, Mass. The project is expected to create 2,000 construction jobs. The state historical commission must sign off on the destruction of several buildings before actual construction can start. Wynn Resorts
Work is under way on a Home2 Suites by Hilton property in Addison, Texas. Plans call for a 132-suite hotel that includes the brand’s Spin2Cycle laundry-and-gym area. Read The Dallas Morning News (free content)/Biz Beat blog here
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