ALBUQUERQUE, N.M., March 5, 2012 (GLOBE NEWSWIRE) -- Representatives from the Supportive Housing Coalition of New Mexico (SHC-NM), Los Alamos National Bank, the Federal Home Loan Bank of Dallas (FHLB Dallas), and a plethora of local and state officials gathered Thursday, March 1, to celebrate the opening of Silver Gardens II, the second and final phase of Silver Gardens Apartments.

Photos accompanying this release are available at

http://www.globenewswire.com/newsroom/prs/?pkgid=11902

http://www.globenewswire.com/newsroom/prs/?pkgid=11903

Silver Gardens Apartments is a mixed-income housing development in Albuquerque, New Mexico. The project houses an integrated tenant mix, ranging from units for very low-income tenants to units that are leased at market rate. The units are a mix of studios, and one and two-bedroom units. The U-shaped, four-story structure with a private interior courtyard incorporating Native American art, play structures, and a community garden occupies a city block bordered by First and Second streets and Silver Avenue. Phase I, consisting of 66 rental homes, was completed in Spring 2010 and is fully occupied.

Silver Gardens II contains 55 units, 14 of which were set aside as permanent supportive housing for residents with special needs.

The project leveraged an array of city, state, federal, and conventional financing. Sources of funds include a conventional first mortgage, housing tax credit proceeds, and a city of Albuquerque Workforce Housing Grant. The adjacent parking garage was funded by $3.4 million from the city of Albuquerque.

FHLB Dallas and Los Alamos National Bank awarded Silver Gardens II a $315,000 Affordable Housing Program (AHP) grant in 2010.

"We are very pleased to be involved and appreciate the investment FHLB Dallas has made through the AHP. We're excited to see the impact this new development will have on our community," said Jill Cook, senior vice president of Los Alamos National Bank.

Al Hernandez, a senior banking officer at Los Alamos National Bank, attended the grand opening ceremony Thursday, and touted the benefits of Silver Gardens to Albuquerque.

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Photo Release -- Los Alamos National Bank and FHLB Dallas Grant Assists in Construction of Final Phase of Silver ...

Two national retail chains, ROSS DRESS FOR LESS and FRANCESCAS COLLECTIONS, have started construction on Springfield stores, and a third, DSW SHOES, has filed for a construction permit.

Ross Dress for Less has begun conversion of the former Jo-Ann Fabrics & Crafts space in the Southwest Plaza shopping center at 3137 S. Veterans Parkway. Francescas is remodeling space in White Oaks Mall.

The lease already has been signed, said Connie Wong, corporate spokeswoman for Ross Dress For Less.

She said she could not yet discuss an opening date, but the store will have about 50 full- and part-time employees.

Springfield will become the southernmost market in Illinois for the California-based retailer. The company is opening two stores this weekend in the Chicago area, bringing its total in that market to 14. Ross Dress For Less has more than 1,000 stores in 29 states and $8.6 billion in annual revenues.

DSW Shoes also plans to move into Southwest Plaza, in a space next to PetSmart. The company has not announced a construction schedule, but it has filed for a renovation permit with the city Building and Zoning Department.

Francescas Collections is a womens clothing and accessories boutique targeted to 18-to-35-year-olds, according to the company website. The store is expected to open in April, mall representatives say.

HELZBERG DIAMONDS, meanwhile, has temporarily relocated within the mall while its existing space is remodeled and expanded. KIRLIN'S HALLMARK has also moved to a larger space at the mall. The projects are part of a major mall renovation scheduled for completion this spring.

***

Employees of TOWN AND COUNTRY BANK of Springfield have committed to more than 500 community-service hours as part of the banks 50th anniversary celebration.

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Tim Landis: New stores starting construction

by Edward Gately - Mar. 2, 2012 10:30 AM The Republic | azcentral.com

Many Fountain Hills residents have been waiting a long time to see commercial development on the south side of downtown's Avenue of the Fountains off Saguaro Boulevard.

Will residents finally see something materialize this year?

In 2007, the land was rezoned to encourage mixed-use development. The next year, the Town Council entered a development agreement for the Fountain Hills Town Square, which called for 490,000 square feet of theater, retail, restaurant, office and residential on 15 acres. But financing fell through with the onset of the recession.

Now, a new plan has surfaced to build a smaller, $28 million entertainment complex. The Avenue would include a 2,226-seat, 12-screen movie theater -- the town's first theater -- and new retail, restaurant and office space. The 6.5-acre site is at the southwestern corner of the Avenue of the Fountains and Verde River Drive, near the Fountain Hills Community Center and Centennial Circle.

The project totals more than 155,200 square feet.

The partners in the latest development are GMK Building and Development, the Fackler Trust,Haffar Entertainment Group and Sivers Cos. California-basedHaffar Entertainment would operate the theater.

George Kasnoff of GMK Building and Development and Dave Fackler of Nielsen-Fackler Planning & Development are heading up the project.

On Feb. 2, the council approved a concept plan and development agreement. The approvals came with several stipulations, such as the completion of a traffic impact study, a landscaping plan and a reduction in parking on the south side to increase the setback from the Village at Towne Center, a nearby condominium community.

Wendy Kelleher, a member of the Village's HOA board, said she and other residents had concerns about the complex and parking being too close to their complex.

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Fountain Hills could be strolling The Avenue

The Tuscaloosa Riverwalk development is seen in Tuscaloosa on Thursday. Another Broken Egg and Orange Leaf Yogurt, which are new to the Tuscaloosa market, will be among the restaurants in the Riverwalk condo-retail development that will open later this year.

TUSCALOOSA | An upscale brunch restaurant and a frozen yogurt shop will be among the first retailers at Riverwalk Place, the luxury condominium-retail development under construction on the citys Riverwalk.

Another Broken Egg Cafe and Orange Leaf Yogurt, both new to the Tuscaloosa area, are expected to open in late summer on the first floor of the development overlooking the Black Warrior River, said Brandon Clark, a real estate agent for the projects developer, Bill Lunsford Construction & Development in Northport.

Construction is coming along great, Clark said of the $14 million project, which will include 22 luxury condo units, plus another restaurant and four additional retail shops.

He said Lunsford hopes to have the projects certificate for occupancy for all the units from city building inspectors by Sept. 15. The certificate is the final approval needed before occupancy.

The project has 15 sales contracts for the condo units, and Clark said Lunsford hopes to announce more retail tenants soon. The one- and two-bedroom condos will be on the two upper floors of the two-building project. The condos prices start at $475,000.

Clark said inside finishing work has started on one of the buildings, which has been enclosed, and the roof will soon be in place on the second building.

Inquiries have picked up for the remaining retail space, Clark said.

When he announced the project last fall, Bill Lunsford said he was being selective in recruiting the retail tenants.

We are trying to bring in new businesses that are not in Tuscaloosa for everyone to enjoy, he said at the time.

Excerpt from:
Riverwalk will include upscale cafe, yogurt shop

CLEVELAND, Ohio -- The YMCA of Greater Cleveland will move its downtown branch into the Galleria at Erieview, illustrating how developers and tenants are dreaming up creative ways to remake old retail space.

A 40,000-square-foot fitness facility, including a three-lane lap pool, will fill the southeast section of the glassed-in former mall in downtown Cleveland.

Building owner Werner Minshall plans to donate the space to the YMCA, which will undertake a $9 million renovation that could be finished in early 2014.

The deal is a much-needed win for an iconic property in a key downtown district.

For years, the Galleria has scrabbled to stay alive by leasing space to non-retail tenants and booking weddings and events. As owners of empty shopping centers have turned to churches, offices and business incubators to fill space, the greenhouse-like Galleria has garnered attention for growing herbs in its central atrium for local restaurants.

The YMCA will fill a large hole, once leased to stores including The Limited. The downtown gym, which has 3,650 members and hopes to surpass 5,500 members at the new location, could boost traffic in the parking garage, the food court and the neighborhood.

"It has been what I would call a loss leader for us for seven or eight years," Minshall said of the property. "We've managed to make do, and now with this deal we've finally turned the corner. Once it's done, the Galleria will be profitable."

After the donation, the nonprofit YMCA will essentially own a business condominium and pay fees to help operate the building.

Since 1911, the YMCA has maintained its offices and downtown branch in a historic brick building at 2200 Prospect Ave.

In 2009, Cleveland State University acquired the building, which includes 148 apartments, and leased the fitness facility and offices back to the YMCA. The university hopes to find a developer to remake the building, and nearby properties, for student housing.

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YMCA to move downtown branch into Galleria, taking 30 percent of the former mall's retail space

FARGO A south Fargo retail space that has long sat dormant is stirring to life.

The structure that once housed Media Play in the 4000 block of 13th Avenue South will soon be home to a DSW shoe store now under construction, building permit information filed with the city shows.

Elsewhere in the same structure, construction is expected to begin soon on space that will become an Old Navy store.

The new store will replace the current Old Navy store on 13th Avenue in West Fargo.

In addition, part of the space that housed Media Play, which closed in 2005, will be remodeled for use by Bremer Bank.

And thats not all.

A LongHorn Steakhouse will be going up soon in the former Media Play parking lot.

The restaurant is the brands first foray into North Dakota.

Likewise, the new DSW store, which offers discount designer shoes, will be the companys first store in North Dakota.

All of this development is in addition to an Ulta Beauty store that opened late last year in the same general area.

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Media Play building, parking lot see new life

TORONTO, ONTARIO--(Marketwire - March 1, 2012) - Primaris Retail REIT (TSX:PMZ-UN.TO - News) is pleased to report positive operating results for the fourth quarter of 2011.These results have been prepared in accordance with International Financial Reporting Standards ("IFRS").Prior year's results have been restated to conform to this change.

President and CEO, John Morrison, commented "We are very pleased with our results for 2011.Funds from Operations for the fourth quarter were 16% stronger than our previous quarterly record. We completed a significant $572 million dollar acquisition during the year, establishing Primaris as the third largest and only public enclosed shopping centre owners in the country. In addition to the property acquisitions we added many strong people to our team, both at the property level and at our corporate offices.The strong financial results resulted from acquisitions, strict expense controls at the G&A level, and from seasonal occupancy gains during the fourth quarter.With a prudent financial structure and strong liquidity, Primaris is well positioned for the future."

Highlights

Funds from Operations (FFO)

Net Operating Income (NOI)

Same Properties - Net Operating Income

Net Income

Operations

Liquidity

Financial Results

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Primaris Retail REIT Announces Record Fourth Quarter and Annual Financial Results

SOQUEL - Three years after a devastating fire, brothers Brian and Kevin Dueck are almost ready to open a new commercial development, Retail 41. Their investment: More than $1 million.

While other landlords have vacancies, the Duecks have signed leases for two new businesses, Discretion Brewing and Crossfit Now, and are reviewing proposals from other would-be tenants for units in the 10,500-square-foot space at 2703 41st Ave. across from Home Depot.

"We have three letters of intent, and two more coming in," said Kevin Dueck.

"You never know when you build these things what's going to happen," said Brian Dueck, who helped supervise the construction. "It's good to see people interested in leasing new space in these times."

Offers have come from a furniture store, tanning salon, hair salon and commercial kitchen, according to real estate broker Steve Allen. Only two of the eight spaces are left.

The Dueck family, which own the furniture stores HomeSpace and WorkSpace at this location, debated how to proceed after losing a 20,000-square-foot showroom and warehouse.

The brothers considered rebuilding, then looked at building with a multiple-tenant space, with Swift Street Courtyard and the Sash Mill as inspiration. Finally, they downsized the tenant spaces to increase their affordability.

"If spaces go for $1 a (square) foot, we're going to get more offers than if we're in the $2 range," said Kevin Dueck.

"We went back to the drawing board because of the economy," said Brian Dueck. "We're happy we went that route."

Their asking rate in the $1 range is lower than average rate in the fourth quarter of 2011, which was $1.97 per square foot, according to Cassidy Turley Commercial Real Estate Services.

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Soquel retail complex on 41st Avenue emerges from devastating blaze

Two businesses are poised to open in the retail space left vacant by the closure of Borders in Sand City.

A third business, yet to be identified, is expected to round out the new establishments.

The marketing coordinator for Tilly's, an Irvine-based surf and skate apparel retailer, confirmed Wednesday the company is opening a store in a portion of the empty space.

The marketing coordinator, William Marquis, said the store is slated to open July 3, and the company is opening stores in a number of other new markets this year as well. The company has 120 stores in 11 states.

"We are really excited to be opening in Sand City," he said.

Tilly's, a privately held company that says it caters to "the ever-evolving generation of active lifestyles," also has a new store at Harden Ranch in Salinas, which opened last November.

The Orosco Group is the Monterey company that bought the 25,000 square-foot site in the Edgewater Center after the Borders chain shut down last year.

Patrick Orosco, a vice president, said construction on the site began several weeks ago. He said he couldn't name or confirm the identities of the retailers his company is negotiating with.

"There'll be three tenants, each well suited to the local trade area," he said.

Ulta Beauty is a second business set to open in the old Borders building, said Steve Matarazzo, city administrator of Sand City. The company's website says it was founded as a discount beauty retailer in 1990.

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Sand City to get a skate apparel retailer in former Borders' store

Nationwide Program Provides Unique Employment Opportunity for Veterans

Clearwater, Florida (PRWEB) February 29, 2012

These individuals have risked their lives to defend our country and many soldiers, after returning to civilian life, are coming home to a tough employment outlook and very limited career opportunities, said Marty Juarez, chief operating officer of More Space Place. This program offers these heroes a tangible, exciting, long-term business opportunity, and our hope is that it will help secure a future for their families for many years to come.

As a top-ranked franchise for veterans since 2010, More Space Place offers its franchise owners everything from site selection and showroom design to accounting and on-going product knowledge to get their store off the ground. Today, veterans make up 30 percent of More Space Place owners, currently operating retail stores from the Rockies to the East Coast, and now expanding throughout the United States.

Store owners do not need to have a history in furniture design, cabinetry or prior business ownership through training and support, we will help them develop those skills, said Bob Schmidt, national director of installations and new owner trainer of More Space Place.

To boost employment overall, More Space Place offers a $10,000 initial store discount for qualified, displaced managers who would like to own and operate a retail store.

Most of our store owners have come from a management career completely unrelated to furniture design or construction, creating a melting pot of knowledge and talent. We created a Displaced Managers Plan to further grow our retail stores and build on our existing diverse group of owners, said Clark Williams, president of More Space Place.

For more information about the Veterans Transition Plan, the Displaced Managers Program or franchise ownership please visit: http://www.Top100Franchise.com. For information on More Space Place products and services, please visit: http://www.morespaceplace.com.

About More Space Place

More Space Place has been a national leader in providing revolutionary space-saving furniture for the home, office and garage since 1987. With nearly 40 design centers across the United States, More Space Place helps customers make more room for living by offering innovative products like wall bed (Murphy BedTM) systems, custom closets, home offices and utility cabinetry.

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More Space Place® Offers $15,000 to Veterans Toward a Retail Franchise