« Goodbye corporate handouts: How Arizona's "Taj Ma-mall" could end corporate welfare | Main | NYPD's new warnings about high-risk buildings bolster argument for additional look at Atlantic Yards security »
July 13, 2009
Forest City in the News
The Cleveland Plain Dealer, Years-long Terminal Tower renovation nearing completion
Forest City Enterprises, development company for Atlantic Yards, can do preservation and renovation when they want to.
At 79, Terminal Tower is older than Superman and may well be the first tall building he leapt in a single bound.
...
A years-long renovation project by its owners, Forest City Enterprises, is close to completion. An 80th birthday party, a year from this month, will showcase the work that has taken place since 1997 - a total makeover from top to bottom, inside and out. With a reverence for the classical interior and beaux-arts facade, every window and every elevator have been replaced, every surface has been repaired, replaced, polished or painted. All of this without disturbing the peregrine falcons that have nested on a 12th-floor ledge, or upsetting the ghost left behind by master plasterers above the main entry's majestic barrel-vaulted ceiling.
Associated Press, D.C. commercial property market resisting downturn
Even as the recession continues to squeeze commercial real estate owners across the United States, the impact on the nation's capital has been significantly less severe.
Washington's edge? Uncle Sam.
...
"Over (last) summer things started to go flat and got progressively softer," [Hessam Nadji, managing director at Marcus & Millichap Real Estate Investment Services] said.Yet developers are forging ahead with new retail projects like The Yards, which will add 400,000 square feet for shops and restaurants. The 42-acre project is being built by Forest City Washington Inc. in the Capitol Riverfront district and also will feature some 1.8 million square feet of office space and 2,800 residences.
Posted by lumi at July 13, 2009 6:01 AM