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.
City officials in Akron, Ohio, want to prevent stormwater from entering its combined sewer system through the use of green infrastructure. Green infrastructure can entail the use of soils and plants as well as man-made structures such as cisterns and permeable pavement. Other cities within
Carey Watermark has acquired the Renaissance Chicago Downtown Hotel for $139 million. The 553-room hotel was sold by the Royal Bank of Scotland Group. Read Commercial Property Executive story here.
Minneapolis-based CSM Corp. has purchased the landmark Hotel Monroe in Phoenix for $7.85 million. CSM owns 37 hotel properties and has developed retail centers, apartments and office buildings. Read The Arizona Republic story here.
Blackstone Real Estate Advisors has closed on a deal to acquire 15 lodging properties in seven U.S. states for $186 million. The hotels are select-service properties under brands that include SpringHill Suites by Marriott, Courtyard by Marriott, Holiday Inn Express and Hampton Inn, among others.
There are a number of construction projects in the works in Western Pennsylvania that could create jobs and provide an economic boost in the coming years. In Pittsburgh, major projects being undertaken include a $400 million tower at PNC Plaza and a proposed mixed-use development
Washington, D.C., has seen strong investment activity recently with positive travel numbers encouraging developers to look for growth opportunities in the market. Two major projects underway are the 1,175-room Marriott Marquis to open beside the Washington Convention Center and Donald Trump’s planned conversion of the
Crescent Communities has announced plans to build a 150-room luxury hotel in Bluffton, S.C. The development will be part of a $100 million expansion to the luxury resort The Inn at Palmetto Bluff, which will also get a new spa and fitness facility. Read The
Construction firms added jobs in 39 states over the past 12 months, while employment nearly stabilized in the remainder, according to an analysis released by AGC of America of Labor Department data. Association officials cautioned that the industry’s recovery was still relatively fragile, noting that
Hotels will do well in 2014, with expected increases in revenue per available room, according to an equity research analyst at Suntrust Robinson Humphrey. The analyst said the demand is being driven by something called compression — essentially, lack of last room availability. Read the
Shinola, a unit of Texas-based Bedrock Brands that’s best known for its Detroit-made watches, will open stores in Washington, D.C., Minneapolis and Chicago, along with international shops in London and Berlin. The company, which makes a slew of other branded items including bicycles, leather goods
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