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.
Developer Robert Swerdling says he has secured $180 million from capital sources to build a 600-key hotel in downtown Memphis, Tenn. Read The Commercial Appeal story here
The Williamsburg neighborhood of Brooklyn, New York, has attracted multiple hotel developments, including the recently opened William Vale hotel, the Wythe Hotel and Williamsburg Hotel. Another hotel, the Hoxton, is planning to open in 2017. Read The Daily Beast story here
Ten-year-old Larkburger is in growth mode, with a new Denver-based CEO and a plan to expand to new markets. The 12-unit chain promotes its culinary approach to fast-casual dining, with house-made sauces and gourmet menu items such as Truffle Burger and Chopped Kale Salad. Read
Seventy-three percent of construction firms plan to expand their payrolls in 2017 as contractors expect private and public sector demand to grow in all market segments, according to survey results released today by the Associated General Contractors of America and Sage Construction and Real Estate.
PH Lodging Tomball LLC has bought the Holiday Inn Express & Suites Houston NW-Tomball for an undisclosed price. An affiliate of Chicago-based Satkar Hospitality Management LLC, PH Lodging says it soon will close the deal for a second Houston-area acquisition, Staybridge Suites. Read the Commercial
Chef Thomas Keller will open a restaurant at the new Surf Club Four Seasons in Florida. The Surf Club Four Seasons will open in 2018. Read The Real Deal story here
The $400 million mixed-use Legacy West development in Plano, Texas, will include at least 15 restaurants and a 20-brand food hall. The eateries, including Fogo de Chao, Starbucks Reserve and Shake Shack, signed on first in order to attract retailers that might have been hesitant
Los Angeles has completed 42 large construction projects since 2010, and 37 more major projects being built, many of which are outlined here. It’s the most construction activity the city has seen since the 1920s. Read the Los Angeles Times story here
The Ace Hotel will open this fall near Chicago’s Fulton Market District. The property will feature the first Stumptown Coffee Roasters cafe in the Midwest. Read the Eater story here
Neiman Marcus is dropping its initial public offering plan as it faces challenges associated with shopper demand and competition from online and off-price retailers. The company, which also includes Bergdorf Goodman and MyTheresa, initially filed to go public in August 2015. Read the Reuters story
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