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		<title>Charlotte Locals Speak Out Against Data Centers As City Moves Toward Moratorium Vote</title>
		<link>https://vrjproperties.com/charlotte-locals-speak-out-against-data-centers-as-city-moves-toward-moratorium-vote/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Wed, 27 May 2026 14:28:41 +0000</pubDate>
				<category><![CDATA[BTR]]></category>
		<category><![CDATA[Multifamily]]></category>
		<category><![CDATA[Centers]]></category>
		<category><![CDATA[Charlotte]]></category>
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		<category><![CDATA[commercial real estate]]></category>
		<category><![CDATA[Data]]></category>
		<category><![CDATA[Locals]]></category>
		<category><![CDATA[Moratorium]]></category>
		<category><![CDATA[Moves]]></category>
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		<guid isPermaLink="false">https://vrjproperties.com/charlotte-locals-speak-out-against-data-centers-as-city-moves-toward-moratorium-vote/</guid>

					<description><![CDATA[<p>Charlotte residents packed a city council meeting this week to rally in support of a pause on data center development. The Charlotte City Council held a public hearing during a meeting on Tuesday to discuss a proposed 150-day moratorium. The...</p>
<p>The post <a href="https://vrjproperties.com/charlotte-locals-speak-out-against-data-centers-as-city-moves-toward-moratorium-vote/">Charlotte Locals Speak Out Against Data Centers As City Moves Toward Moratorium Vote</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p>Charlotte residents packed a city council meeting this week to rally in support of a pause on data center development.</p>
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<p>The Charlotte City Council held a <a href="https://charlottenc.granicus.com/player/clip/3682?view_id=2&amp;redirect=true" target="_blank">public hearing</a> during a meeting on Tuesday to discuss a proposed 150-day moratorium. The public hearing was a prerequisite to a planned council vote on June 8. </p>
<p dir="ltr">The hearing comes after several weeks of growing public pushback against proposed data center projects in the city. Dozens of people were protesting outside, many part of activist groups, <a href="https://www.thecharlotteledger.com/p/city-moves-closer-to-a-data-center-moratorium" target="_blank">according to The Charlotte Ledger</a>. Out of the 36 people who spoke up at the hearing, only five did not support a moratorium, the Ledger reported.</p>
<p dir="ltr">Citizens detailed their anxieties about the presence of data centers in the metro area, with some suggesting the centers be completely banned. They cited negative environmental impacts and increased energy costs stemming from what they called excessive water and power requirements.</p>
<p dir="ltr">Charlotte is facing drought conditions and <a href="https://www.charlottenc.gov/City-News/Mandatory-Water-Restrictions" target="_blank">water restrictions</a>. But large data centers can use up to 5 million gallons of water each day, <a href="https://www.brookings.edu/articles/ai-data-centers-and-water/" target="_blank">according to The Brookings Institution</a>. </p>
<p dir="ltr">“We are concerned that the growth of local data centers may overallocate our limited resources and decreases our ability to respond to drought,” resident and Catawba Riverkeeper Brandon Jones said. “Sustainable water management requires careful planning and robust coordination between all users, including data centers.”</p>
<p dir="ltr">Some spoke directly against American Tower Corp.’s proposed data center in east Charlotte, which <a href="https://www.wccbcharlotte.com/2026/04/20/thousands-oppose-a-data-center-in-residential-east-charlotte/" target="_blank">has seen opposition</a> at every stage. The project would span 40K SF on a site planned off of Hood Road, near Reedy Creek Nature Preserve. The developer <a href="https://www.wsoctv.com/news/local/developer-asks-defer-rezoning-request-east-charlotte-data-center/ZQWMS2LC3ZAEPARDZH7AJF7AII/" target="_blank">delayed its zoning request</a> until June 15.</p>
<p>“The question for me is, how do we build a footprint that makes Charlotte a national leader in distributed, resilient, redundant infrastructure without devouring our land, our water and our power?” said citizen Craig Reynolds, a business executive, whose question was met with applause.</p>
<p>He asked council members to consider the sheer scale of data center projects, which he said can command “eight to 14 times the combined residential power” of a city.</p>
<p dir="ltr">Another local, Tina Shull, a professor at the University of North Carolina at Charlotte, said she is “deeply concerned” about the impacts of the American Tower data center in her neighborhood, as well as the two already approved hyperscale centers in the city.</p>
<p dir="ltr">“This is a request to stop and make a new plan for data centers entirely,” Shull said. “A 150-day moratorium and an environmental impact assessment are the first steps.”</p>
<p dir="ltr">Resident Larry Shaheen, a commercial real estate lawyer at The McIntosh Law Firm, spoke in favor of data centers, saying they provide “a significant amount of tax revenue that is going to go toward funding important needs of the city of Charlotte.” </p>
<p dir="ltr">He also said the council doesn’t have the authority to cease construction on an already started project or to change certain zoning classifications. His comments drew audible “boos” from the room.</p>
<p>There has been notable backlash against data centers in communities across the U.S. over the last year, including <a href="https://www.charlotteobserver.com/news/business/article312306586.html" target="_blank">across the Carolinas</a>. Moratoriums in the region are becoming increasingly common, with Durham <a href="https://dukechronicle.com/article/duke-university-durham-city-council-imposes-60-day-moratorium-on-data-centers-williams-kopac-baker-burris-energy-water-20260506" target="_blank">passing a 60-day moratorium</a> earlier this month, Apex <a href="https://www.wral.com/news/local/apex-public-hearing-data-center-april-2026/" target="_blank">passing a one-year moratorium</a> in April, and Chatham County <a href="https://www.newsobserver.com/news/politics-government/article314678612.html" target="_blank">imposing a one-year moratorium</a> in February. </p>
<p dir="ltr">Still, there are more than 90 data centers in North Carolina, <a href="https://www.datacentermap.com/usa/north-carolina/" target="_blank">according to Data Center Map</a>, and 40 in Charlotte, <a href="https://www.wcnc.com/article/news/local/east-charlotte-neighbors-push-back-on-proposed-data-center-ahead-of-city-council-meeting/275-a58b34cc-3cbc-4eab-86b8-01041feadb74" target="_blank">according to WCNC</a>. More are expected as the rapid artificial intelligence boom continues. </p>
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<br /><a href="https://www.bisnow.com/charlotte/news/data-center-community-relations/charlotte-residents-data-center-moratorium-134739">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/charlotte-locals-speak-out-against-data-centers-as-city-moves-toward-moratorium-vote/">Charlotte Locals Speak Out Against Data Centers As City Moves Toward Moratorium Vote</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>Colliers Completes Sale of 321K-SF Kansas City Office Building</title>
		<link>https://vrjproperties.com/colliers-completes-sale-of-321k-sf-kansas-city-office-building/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Fri, 15 May 2026 21:02:32 +0000</pubDate>
				<category><![CDATA[Multi-Tenant]]></category>
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		<category><![CDATA[Colliers]]></category>
		<category><![CDATA[Completes]]></category>
		<category><![CDATA[Kansas]]></category>
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		<guid isPermaLink="false">https://vrjproperties.com/colliers-completes-sale-of-321k-sf-kansas-city-office-building/</guid>

					<description><![CDATA[<p>Colliers completed the sale of 2323 Grand Boulevard, a 321,000-square-foot office property located in Kansas City’s Crown Center sub-market. Senior Vice President Evan Warwick represented the owner, and Principal Bryan Johnson represented the buyer. Stanton Road Capital, LLC, a private...</p>
<p>The post <a href="https://vrjproperties.com/colliers-completes-sale-of-321k-sf-kansas-city-office-building/">Colliers Completes Sale of 321K-SF Kansas City Office Building</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p><a href="https://www.colliers.com/en" target="_blank" rel="noreferrer noopener">Colliers</a> completed the sale of 2323 Grand Boulevard, a 321,000-square-foot office property located in Kansas City’s Crown Center sub-market. </p>
<p>Senior Vice President Evan Warwick represented the owner, and Principal Bryan Johnson represented the buyer. Stanton Road Capital, LLC, a private investment management and advisory firm, sold the property to Crain Company, a Wichita-based multifamily acquisition and development company. </p>
<p>The 11-story office building was developed in 1985 and acquired by Stanton Road Capital in 2017. Conveniently located within a well-established commercial corridor, the property offers walkable access to nearby hotels, retail, and dining options, along with covered and surface parking.</p>
<p>“This area continues to show strong long-term potential, particularly due to its proximity to the new Kansas City Royals stadium and ongoing development activity nearby,” commented Warwick. “The property’s premier location and panoramic downtown views made it a highly attractive asset, and we are especially appreciative of the trust our clients placed in us throughout the process.”</p>
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<br /><a href="https://www.connectcre.com/stories/colliers-completes-sale-of-321k-sf-kansas-city-office-building/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/colliers-completes-sale-of-321k-sf-kansas-city-office-building/">Colliers Completes Sale of 321K-SF Kansas City Office Building</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>Data Center Moratorium Will Come Before Charlotte City Council</title>
		<link>https://vrjproperties.com/data-center-moratorium-will-come-before-charlotte-city-council/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Tue, 12 May 2026 18:49:11 +0000</pubDate>
				<category><![CDATA[Multifamily]]></category>
		<category><![CDATA[Center]]></category>
		<category><![CDATA[Charlotte]]></category>
		<category><![CDATA[City]]></category>
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		<guid isPermaLink="false">https://vrjproperties.com/data-center-moratorium-will-come-before-charlotte-city-council/</guid>

					<description><![CDATA[<p>The Charlotte City Council is prepping to vote on hitting pause on new data center development.  The council on Monday agreed to hold a public hearing on a data center moratorium on May 26, a prerequisite before it can vote...</p>
<p>The post <a href="https://vrjproperties.com/data-center-moratorium-will-come-before-charlotte-city-council/">Data Center Moratorium Will Come Before Charlotte City Council</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p dir="ltr">The Charlotte City Council is prepping to vote on hitting pause on new data center development. </p>
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<p>The council on Monday agreed to hold a public hearing on a data center moratorium on May 26, a prerequisite before it can vote on the moratorium on June 8, according to <a href="https://www.charlotteobserver.com/news/politics-government/article315719003.html" target="_blank">The Charlotte Observer</a>. </p>
<p>The debate will center on a possible 150-day moratorium to allow city officials to review the impacts and risks of data centers and to craft regulations around their development. </p>
<p>At the meeting, some expressed concern that further data center development would <a href="https://www.wral.com/news/investigates/north-carolina-data-center-costs-electricity-water-air-quality-questions-february-2026/" target="_blank">drive up electricity costs</a>. Others worried about how such development may be affecting the quality of life in the city because of noise and pollution. </p>
<p>“This is about our children, this is about our health, and this is about whether families can peacefully live in their homes,” said Dimple Ajmera, an at-large council member, <a href="https://qcnerve.com/i-77-toll-lane-project-rescind" target="_blank">according to a Queen City Nerve report</a>. </p>
<p>North Carolina currently has <a href="https://www.datacentermap.com/usa/north-carolina/" target="_blank">more than 90 data centers</a>, according to Data Center Map. The Charlotte metro area has <a href="https://www.wcnc.com/article/news/local/east-charlotte-neighbors-push-back-on-proposed-data-center-ahead-of-city-council-meeting/275-a58b34cc-3cbc-4eab-86b8-01041feadb74" target="_blank">over 30 data centers</a>, with more proposed. </p>
<p>AREP has plans for a <a href="https://www.axios.com/local/charlotte/2026/05/08/city-council-data-center-moratorium-construction" target="_blank">1.5M SF campus</a> in University City, and <a href="https://www.datacenterdynamics.com/en/news/digital-realty-files-to-develop-400mw-data-center-campus-in-charlotte-north-carolina/" target="_blank">Digital Realty is plotting a potentially 3M SF one</a> on Moores Chapel Road. American Tower Corp. is proposing to build a 40K SF facility near Reedy Creek Nature Preserve.</p>
<p>Data centers are currently permitted by right in eight zoning districts in Charlotte without city approval. These districts include residential areas, the Observer reported. </p>
<p>Any potential moratorium will not affect already permitted plans.</p>
<p>The council’s moves come as local backlash against data centers rises in communities <a href="https://www.charlotteobserver.com/news/business/article312306586.html" target="_blank">across the Carolinas</a>. Durham passed <a href="https://dukechronicle.com/article/duke-university-durham-city-council-imposes-60-day-moratorium-on-data-centers-williams-kopac-baker-burris-energy-water-20260506" target="_blank">a 60-day moratorium</a> last week, Apex <a href="https://www.wral.com/news/local/apex-public-hearing-data-center-april-2026/" target="_blank">passed a one-year moratorium</a> last month, and Chatham County <a href="https://www.wral.com/news/local/chatham-county-approves-12-month-ban-data-centers-crypto-mining-february-2026/" target="_blank">passed a one-year moratorium</a> in February. The county <a href="https://www.newsobserver.com/news/business/article315547697.html" target="_blank">was sued</a> in April by a developer after the moratorium was imposed.</p>
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<p><br />
<br /><a href="https://www.bisnow.com/charlotte/news/data-center/charlotte-moves-toward-data-center-moratorium-will-vote-next-month-134548">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/data-center-moratorium-will-come-before-charlotte-city-council/">Data Center Moratorium Will Come Before Charlotte City Council</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>Rock Hill City Council To Decide On Rezoning For Dual-Hotel Project</title>
		<link>https://vrjproperties.com/rock-hill-city-council-to-decide-on-rezoning-for-dual-hotel-project/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Mon, 12 Jan 2026 15:19:37 +0000</pubDate>
				<category><![CDATA[Hospitality]]></category>
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		<guid isPermaLink="false">https://vrjproperties.com/rock-hill-city-council-to-decide-on-rezoning-for-dual-hotel-project/</guid>

					<description><![CDATA[<p>Rock Hill, South Carolina, 25 miles south of downtown Charlotte, might soon see a dual-hotel project. On Jan. 6, the Rock Hill Planning Commission recommended approval of a rezoning request from an entity tied to Fort Mill-based Primo Investments, the...</p>
<p>The post <a href="https://vrjproperties.com/rock-hill-city-council-to-decide-on-rezoning-for-dual-hotel-project/">Rock Hill City Council To Decide On Rezoning For Dual-Hotel Project</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p>Rock Hill, South Carolina, 25 miles south of downtown Charlotte, might soon see a dual-hotel project.</p>
<p>On Jan. 6, the Rock Hill Planning Commission recommended approval of a rezoning request from an entity tied to Fort Mill-based Primo Investments, <a href="https://www.bizjournals.com/charlotte/news/2026/01/08/primo-investments-rock-hill-hotels-marriott-i-77.html?utm_source=st&amp;utm_medium=en&amp;utm_campaign=me&amp;utm_content=CH&amp;ana=e_CH_me&amp;j=43432900&amp;senddate=2026-01-08&amp;utm_term=ep3&amp;empos=p3" target="_blank">the Charlotte Business Journal reported</a>.</p>
<p>The hotel owner and developer, led by Hitesh Patel, aims to rezone 13.2 acres at 1505 and 1515 Riverchase Blvd., off Exit 82C of Interstate 77, for a project that will construct two hotels on the site.</p>
<p>The Rock Hill City Council, which has final authority on zoning, is expected to make a decision on Jan. 26. </p>
<p>If the project comes to fruition, the first phase will be an 85,700 SF, 121-room hotel. The second phase will be a 59,300 SF hotel with 116 rooms. The first hotel is expected to be a Marriott-branded Residence Inn, and the second might be a Marriott-branded StudioRes.</p>
<p>Patel&#8217;s team is reportedly seeking a master plan-commercial zoning designation. This is designed to allow for a mixture of retail and office uses in a certain parcel or area based on a master plan approved by Rock Hill. The designation allows for some flexibility as the plans progress. </p>
<p>Patel&#8217;s Primo Investments has an active hotel portfolio throughout the Charlotte market, especially in York County, with five hotels in Rock Hill alone. It also boasts two hotels in Fort Mill, two in Charlotte and one in Concord.</p>
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<p><br />
<br /><a href="https://www.bisnow.com/charlotte/news/hotel/rock-hill-city-council-to-decide-on-rezoning-for-dual-hotel-project-132664">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/rock-hill-city-council-to-decide-on-rezoning-for-dual-hotel-project/">Rock Hill City Council To Decide On Rezoning For Dual-Hotel Project</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>American Lions JV Opens The Italic Rentals in Long Island City</title>
		<link>https://vrjproperties.com/american-lions-jv-opens-the-italic-rentals-in-long-island-city/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Fri, 07 Mar 2025 22:51:30 +0000</pubDate>
				<category><![CDATA[Multifamily]]></category>
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					<description><![CDATA[<p>American Lions, a joint venture between Fetner Properties and Lions Group, has launched leasing at The Italic, a 50-story residential tower located at 26-32 Jackson Ave. in Long Island City. The Italic is the sister building of The Bold, located across...</p>
<p>The post <a href="https://vrjproperties.com/american-lions-jv-opens-the-italic-rentals-in-long-island-city/">American Lions JV Opens The Italic Rentals in Long Island City</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p>American Lions, a joint venture between Fetner Properties and Lions Group, has launched leasing at The Italic, a 50-story residential tower located at 26-32 Jackson Ave. in Long Island City. The Italic is the sister building of The Bold, located across the street.</p>
<p>“This evolving neighborhood has shown tremendous growth, and we’re excited to contribute to that by adding more high-quality housing,” said Hal Fetner, president and CEO of Fetner Properties.</p>
<p>The Italic’s 363 rental apartments range from studios to three-bedrooms. Of these, 109 units are designated as affordable. The building also includes 20,000 square feet of commercial space and offers direct access to Court Square subway station.</p>
<p>Amenities at the property include a communal lounge, a fitness center, two bay golf simulators, a basketball court, coworking spaces and a rooftop terrace with panoramic views of the Manhattan skyline. A standalone feature is the building’s full demonstration cooking kitchen.</p>
</p></div>
<p><br />
<br /><a href="https://www.connectcre.com/stories/american-lions-jv-opens-the-italic-rentals-in-long-island-city/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/american-lions-jv-opens-the-italic-rentals-in-long-island-city/">American Lions JV Opens The Italic Rentals in Long Island City</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>New City Unveils Neuhoff&#8217;s Next Phase</title>
		<link>https://vrjproperties.com/new-city-unveils-neuhoffs-next-phase/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Tue, 04 Mar 2025 15:39:06 +0000</pubDate>
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					<description><![CDATA[<p>The now-thriving Neuhoff District used to be a meat packing plant, an assortment of old brick buildings on East Germantown’s riverfront that has been turned into offices, retail and hundreds of apartments. According to the Nashville Business Journal, the first...</p>
<p>The post <a href="https://vrjproperties.com/new-city-unveils-neuhoffs-next-phase/">New City Unveils Neuhoff&#8217;s Next Phase</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p>The now-thriving Neuhoff District used to be a meat packing plant, an assortment of old brick buildings on East Germantown’s riverfront that has been turned into offices, retail and hundreds of apartments. According to the Nashville Business Journal, the first phase cost $550 million.</p>
<p><strong>New City Properties</strong> is moving forward on the second phase of Neuhoff District, which will include a new apartment building, an office building and retail structures.</p>
<p>The next phase of Neuhoff will rise at 1324 Second Ave. N. The existing building will be converted into retail space. The next phase also includes a seven-story office building as well as a six-story apartment building with 319 units.</p>
<p>New City Properties bought the 4.77-acre site where the second half of the project is slated to rise in 2019 for $26.25 million.</p>
<p>Cousins Properties Inc. invested $275 million in the Neuhoff development, and JP Morgan is contributing half of the equity. JE Dunn Construction is the general contractor.</p>
</p></div>
<p><br />
<br /><a href="https://www.connectcre.com/stories/new-city-unveils-neuhoffs-next-phase/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/new-city-unveils-neuhoffs-next-phase/">New City Unveils Neuhoff&#8217;s Next Phase</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>Church Buys 99K-SF League City Retail Center</title>
		<link>https://vrjproperties.com/church-buys-99k-sf-league-city-retail-center/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Fri, 21 Feb 2025 18:40:09 +0000</pubDate>
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		<category><![CDATA[Retail]]></category>
		<category><![CDATA[99KSF]]></category>
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		<category><![CDATA[Church]]></category>
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					<description><![CDATA[<p>A League City church has acquired a 99,000 square foot shopping center. Citymark Church has occupied space on the western edge of the main retail building of League City Town Plaza since 2012. It recently took over 16,500 square feet...</p>
<p>The post <a href="https://vrjproperties.com/church-buys-99k-sf-league-city-retail-center/">Church Buys 99K-SF League City Retail Center</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p>A  League City church has acquired a 99,000 square foot shopping center. Citymark Church has occupied space on the western edge of the main retail building of League City Town Plaza since 2012. It recently took over 16,500 square feet of space and now takes up 36,740 square feet. A renovation is in progress, and the church has tapped Houston-based companies Cre8 Architects and DivisionOne Construction for the build-out.</p>
<p>The Houston Business Journal reports Citymark paid Prime Real Estate U.S. Properties of Canada “north of $7 million” for the property. James Brockway of Brockway Commercial acted on behalf of the church.</p>
<p>The entire property at FM 518/Main Street and state Highway 3 is about 13.6 acres and includes just under 3.6 acres of vacant land to the west of the retail center. The center is 92% occupied. </p>
<p>The church hopes to expand as more space may become available. The congregation has grown from about 800 to now more than 2,000 people in just the past few years.</p>
</p></div>
<p><br />
<br /><a href="https://www.connectcre.com/stories/church-buys-99k-sf-league-city-retail-center/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/church-buys-99k-sf-league-city-retail-center/">Church Buys 99K-SF League City Retail Center</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>City Council Approves Two Big Life Sciences Projects in Kips Bay</title>
		<link>https://vrjproperties.com/city-council-approves-two-big-life-sciences-projects-in-kips-bay/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Fri, 14 Feb 2025 20:40:02 +0000</pubDate>
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					<description><![CDATA[<p>The New York City Council has approved the Science Park and Research Campus (SPARC) Kips Bay and Innovation East projects. The vote completed the public review process for the two projects in Manhattan’s Kips Bay neighborhood, which the New York City Economic...</p>
<p>The post <a href="https://vrjproperties.com/city-council-approves-two-big-life-sciences-projects-in-kips-bay/">City Council Approves Two Big Life Sciences Projects in Kips Bay</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p>The New York City Council has approved the Science Park and Research Campus (SPARC) Kips Bay and Innovation East projects. The vote completed the public review process for the two projects in Manhattan’s Kips Bay neighborhood, which the New York City Economic Development Corporation called key initiatives in advancing the goal of creating 10 million square feet of life sciences space locally.</p>
<p>“The state-of-the-art projects at SPARC Kips Bay and Innovation East will not only drive significant economic impact but also create a strong talent pipeline through the city’s academic institutions and organizations,” said NYCEDC president &amp; CEO Andrew Kimball.</p>
<p>NYCEDC said SPARC Kips Bay will transform an entire city block with more than two million square feet of academic, public health and life sciences space. The Innovation East development, located at 455 First Ave., will replace the former and obsolete Public Health Lab with a new state-of-the-art life science hub. </p>
</p></div>
<p><br />
<br /><a href="https://www.connectcre.com/stories/city-council-approves-two-big-life-sciences-projects-in-kips-bay/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/city-council-approves-two-big-life-sciences-projects-in-kips-bay/">City Council Approves Two Big Life Sciences Projects in Kips Bay</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>Terra Scores $291M Refi on Centro City</title>
		<link>https://vrjproperties.com/terra-scores-291m-refi-on-centro-city/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Mon, 06 Jan 2025 14:31:04 +0000</pubDate>
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		<guid isPermaLink="false">https://vrjproperties.com/terra-scores-291m-refi-on-centro-city/</guid>

					<description><![CDATA[<p>Terra secured $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana.  JVP Management has issued a $187 million loan for...</p>
<p>The post <a href="https://vrjproperties.com/terra-scores-291m-refi-on-centro-city/">Terra Scores $291M Refi on Centro City</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p data-beyondwords-marker="dda04f5b-0def-4d13-ae2b-a7605e9fdf1f">Terra secured $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana. </p>
<p data-beyondwords-marker="654183c1-ff37-43f5-b0d7-1fec9d87dc25">JVP Management has issued a $187 million loan for the development’s multifamily residential component, and Hudson Bay Capital issued a $104 million loan for the retail component. The two loans will pay off the development’s existing construction financing, which was provided in 2022 by Apollo Global Management and Mack Real Estate Credit Strategies. </p>
<p data-beyondwords-marker="d85570af-fd68-477b-a870-b54dcf4c6480">Now complete, Centro City’s first phase includes 350,000 square feet of revamped and newly built retail space, along with three 8-story multifamily buildings with 470 market-rate apartments. </p>
<p data-beyondwords-marker="724d2485-f7e2-4633-a92e-0f750e335502">A Walker &amp; Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the transactions. Holland &amp; Knight partners Joe Dewey, Brett Holland, Shawn Amuial and Shaina Kamen, and associate Brian Piper, led the firm’s representation of Hudson Bay Capital.</p>
</p></div>
<p><br />
<br /><a href="https://www.connectcre.com/stories/terra-scores-291m-refi-on-centro-city/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/terra-scores-291m-refi-on-centro-city/">Terra Scores $291M Refi on Centro City</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>City Selects Partner on Atlanta Constitution Building</title>
		<link>https://vrjproperties.com/city-selects-partner-on-atlanta-constitution-building/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Tue, 12 Nov 2024 14:53:32 +0000</pubDate>
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					<description><![CDATA[<p>Invest Atlanta selected Gorman &#38; Co. to restore the five-story Atlanta Constitution building, located at 143 Alabama St. in the heart of Downtown. The agency intends to negotiate a ground lease and master development agreement with the company, whose preliminary...</p>
<p>The post <a href="https://vrjproperties.com/city-selects-partner-on-atlanta-constitution-building/">City Selects Partner on Atlanta Constitution Building</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p data-beyondwords-marker="a82b5377-272a-46a4-8be7-00ea0e51ff07">Invest Atlanta selected Gorman &amp; Co. to restore the five-story Atlanta Constitution building, located at 143 Alabama St. in the heart of Downtown. The agency intends to negotiate a ground lease and master development agreement with the company, whose preliminary plan includes 197 mostly affordable residential units.</p>
<p data-beyondwords-marker="428702f0-16ad-4d0a-a4f6-57b5b4bf0332">The 95,000-square-foot brick building dates back to the 1940s and housed the Atlanta Constitution’s printing facility until the newspaper merged with the Atlanta Journal in 1953. The city has owned it since the 1990s. </p>
<p data-beyondwords-marker="b61475d4-ad2b-416d-abf0-23f09b01ca6b">Gorman &amp; Co., which focuses on developing affordable and workforce housing, plans to split the project into multiple phases.</p>
<p data-beyondwords-marker="2bf90e51-4471-47c7-b2f8-be8e6a5daf4f">The building would be filled with residential units and ground-level commercial space. A later phase would add a new residential building on adjacent land by 2028.</p>
<p data-beyondwords-marker="a8a3cb85-ad48-4ded-83ae-c61d5a10f97d">The project includes a mix of units with one, two or three bedrooms. Units would be rented at prices affordable to households earning 30% and 80% AMI.</p>
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<p><br />
<br /><a href="https://www.connectcre.com/stories/city-selects-partner-on-atlanta-constitution-building/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/city-selects-partner-on-atlanta-constitution-building/">City Selects Partner on Atlanta Constitution Building</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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