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Elk Development owes about $60 million on Hollywood apartments, according to two notices of default dated early June. Acres Capital loaned Elk around $41 million via a construction note five years ago. The note was amended and increased to $44...
A basic fact not well understood by the public and politicians is that developers must raise money for their projects — and cannot if the expected return doesn’t compensate for investors’ risk.In other words: No profit, no project.One ele...
Orange County officials are letting a long-simmering housing proposal in Trabuco Canyon move forward after tossing out a last-ditch appeal from residents and conservation groups.On Tuesday, the Orange County Board of Supervisors voted unanimous...
https://journal.firsttuesday.us/wp-content/uploads/Audio_LW_920.mp3Why this matters: No matter where you live in California, addressing the housing shortage requires new residential construction permitting to move forward efficiently without ...
For months, former residents of the Pacific Palisades Bowl Mobile Estates have feared the uncommunicative owners of the property would seek to displace them in favor of a more lucrative development deal after the Palisades fire destroyed the r...
There’s a common belief these days that there’s nowhere left to build in the city. But Rockrose Development’s $100 million purchase of a Brooklyn city block, which closed Friday, shows that’s not entirely true — it just might not b...
Why this article is important: Developers are using the builder’s remedy as a workaround for restrictive local zoning ordinances. The loophole is preemptive legislation permitting builders to organically correct local housing shortages.Builde...
For New York City’s new development market, 2025 has been a year of whisper trades and low inventory. While a handful of buzzy sales launches powered the market, executives, brokers and data analysts spent the year warning of an imminent inv...
Why this article is important: California’s legislature continues to tackle the state’s decade long housing shortage.Growth encouraged near transit stopsCalifornia’s legislature recently passed Assembly Bill 79 to encourage the addition o...
Scottish DJ and record producer Calvin Harris has fallen out with his business manager Thomas St. John to the tune of $22.5 million over funding for a large-scale real estate development in the heart of Hollywood.The $500-million mixed-use pro...