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.
Marriott International aims to almost double its number of locations in the Asia Pacific by 2021. The company will open almost 80 properties in the region this year, and it plans to develop more than 500 hotels there in the next four years. Read The
Mall of America developer Triple Five Worldwide Group aims to build a 6 million-square-foot project in South Florida that would be bigger than the Minnesota mall and include family-friendly entertainment as well as retail. Read the Orlando Sentinel/The Associated Press story here
Michael Kors will shutter up to 125 of its stores and renovate upwards of 100 other locations during the next two years in a push to revive full-price sales, The Wall Street Journal reports. The luxury brand also plans innovative new designs with features that
The 201-key Jacquard hotel is on track to open next year in Denver. The property is part of Marriott‘s Autograph Collection. Read The Denver Post story here
Developers want to gut the Portofino Beach Inn in Del Mar, Calif., to create a boutique hotel. The 44-room property would be called The Ray. Read the Del Mar Times story here
The Wick Hotel in Hudson, N.Y., is on track to finish this fall. The property will feature 55 rooms in a converted soap and candle factory. Read the Daily Freeman/Mid-Hudson News Network story here
Swire owns the Opposite House in Beijing; the Temple House in Chengdu, China; and Hong Kong’s Upper House. Swire is bringing its East brand to Miami. Read the Skift story here
Payless Shoesource plans to shutter up to 408 more stores in addition to the nearly 400 closures the retailer announced when it filed for bankruptcy protection in April. Creditors of the retailer, including major suppliers, raised objections about a restructuring plan that will convert 40%
Aditya Birla Fashion & Retail will shrink the size of two of its 17 Forever 21 stores in India and focus on opening smaller stores in a push to shift the franchise to profitability. The Mumbai-based retail operator acquired the franchise of the American fast-fashion
A $2 billion expansion planned for a 17-acre site at the Tampa International Airport in Florida includes hotels plus office, retail and dining space. Experts say it could become more common for airports to become real estate developers. Read the Tampa Bay Times story here
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