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September 30, 2009
Forest City in the News
TradingMarkets, Forest City Enterprises Up 118.2% Since SmarTrend's Buy Recommendation
If you had listened to SmarTrend's "proprietary pattern recognition system," back in January 2009, you would have been up 118.2% on the stock in the parent company of Atlantic Yards developer Forest City Ratner.
There's no mention that the stock is still way down from when it nearly hit $70 back in April 2007.
The Boston Globe, From crumbling to chic
On the once-contaminated site of a decaying shoe factory, a thriving neighborhood is growing with the opening of hundreds of chic apartments, part of a renaissance in this Merrimack River mill city, which has seen plenty of hard times.
Longtime residents like Richard Lynch never believed the crumbling brick buildings and trash-filled parking lots near downtown could be recreated as modern housing with exposed brick, wood beams, and even a cyber cafe.
Today, however, developers, residents and government officials - including Governor Deval Patrick - are scheduled to celebrate the official opening of the 305-unit, four-building Hamel Mill Lofts complex, one of several Haverhill developments spurred by state and federal incentives.
...
Forest City Residential Group, the Hamel Mill Lofts developers, calls the $80 million complex a public-private partnership, because so many state and federal incentives were used to fund the project. For instance, the development was built with the help of Massachusetts’ five-year-old “smart-growth’’ law, formally known as 40R.
Posted by lumi at September 30, 2009 6:19 AM