Developers have unveiled plans to extend a highly controversial 310-home development in Faversham by almost 20%.

Barratt David Wilson Homes, which has this week restarted its construction work, wants to add 58 homes to the sprawling Perry Court Farm scheme in the heart of the town's countryside.

The firm has submitted the proposals to Swale Borough Council and stresses the extra homes will boost the council's housing delivery rate, which is currently falling shy of its targets.

The land earmarked for the additional properties is a five-acre parcel of former farmland behind The Abbey School and next to a Grade-II listed oasthouse.

If approved, the new houses will be a mix of two, three and four-bed, while 20 of them will be affordable homes.

Developers say the extension of the development, which has proved to be the town's most contentious scheme in recent memory, will add an extra 400,000 to the local economy each year.

A planning document compiled on behalf of the applicants, states: "The proposals will deliver much-needed new housing that is integrated, has a distinct sense of place and is fit for purpose and will become a successful contribution to the market town of Faversham."

A pond will be installed at the site, while the design of the homes will be "sympathetic to the surrounding area".

But Bergamot Road resident James Charlton fears the scheme is "cramming" too many houses into a small area.

He also harbours fears over the increased traffic on Brogdale Road, on which long-standing rural houses are now being surrounded by new-builds.

"Although improvements to the road have been made, this will add considerable amounts of traffic to an area that was never designed to take the amount that is now being expected of it," he said.

Barratt Homes, however, does believes the road network can cater for the extra 58 homes, and stresses the land is not being over-developed.

Meanwhile, over the other side of the development, just off the A251, plans have been revealed for a terrace of shops next to the already-approved Aldi supermarket.

The new commercial units will be near to the rubber-stamped three-storey Premier Inn hotel and 66-bed care home.

Henry Davidson Developments say the terrace of shops, for which occupiers are yet to nailed down, will either be split into two or three units - offering retail space or becoming food and drink outlets.

The plans for both the commercial units and the 58 extra homes will be decided on by Swale council bosses later in the year.

Work will however continue on the first phases of the original 310-home scheme.

On construction work restarting this week, Paul Kitchingman, managing director at Barratt Homes, said: "Our first priority is the health and safety of our employees, sub-contractors and customers.

"We have created a detailed set of working practices and protocols for employees and sub-contractors to ensure that we can reopen our construction sites safely, in a phased and measured way, which minimises risk."

Head to our business page for all of the latest news about businesses in Kent

Read more: All the latest news from Faversham

Excerpt from:
Bid to expand controversial housing estate by 20% - Kent Online

A major multi-million pound development consisting of shops, offices and housing has been earmarked for Newry city centre.

An application for the development which would create substantial jobs during construction and upon completion has been submitted to Newry, Mourne and Down District Council for consideration.

The would-be developer the Belfast-based Kerr Property Holdings Ltd has plans for a site in excess of 10,000 sq metres.

This includes over 2,000 sq metres of office space, taking in the three-storey listed building at 47 Merhants Quay, the former Renault car sales showroom and garage. It was owned by the Goss family from Mayobridge, but has been vacant for many years.

The development would also include three retail units, each with service yard area.

There would be a coffee bar incorporated too, this to be located within the ground floor of the listed building.

The ambitious proposals would also involve a substantial programme of demolition of existing properties with replacement new-builds.

Buildings at Merchants Quay and Cornmarket would be taken down and the site completely redeveloped and transformed.

There is a major emphasis on housing as part of the scheme.

A total of 82 units is planned. These would be within multi-storey blocks and the residential accommodation will consist of a mix of both private and social housing.

There would be landscaping too as part of the plans.

And tenants of the new units would have access to parking and a communal courtyard around which the properties would be constructed.

In all three applications have had to be submitted.

A full planning application, as well as two others one for Listed Building Consent and the other DCA, which is permission for demolition within a conservation area.

The DCA bid is for demolition of the former car sales showroom/garage located at Nos 49-54 Merchants Quay and the premises located at No. 46 Merchants Quay, Newry.

The listed building consent is specifically for 47 Merchants Quay.

It seeks approval to develop a vacant storage unit to proposed commercial use, consisting of coffee bar at ground floor with office accommodation above. This would then connect at the rear to a new proposed office complex.

It would require remedial works to external and internal fabric of the listed building including repairs to stonework and brickwork; timber beams and joists and the roof structure, which would involve glazing, as well as the repair or replacement of timber windows and doors.

The three retail units as yet for unspecified tenants are located elsewhere on the site.

All three applications relation to this scheme are due to be publicly advertised this week.

Original post:
Multi-million pound retail, office and housing plans on site of former car showroom in Newry - Armagh i

The Red Cliff Band of Lake Superior Chippewa has broken ground on a 3,500-square-foot commercial fish processing facility for Red Cliff Fish Co. that will process commercial fish and provide packaged products to distributors and local markets.

This groundbreaking today for the Red Cliff Fish Co. is an historic milestone in furthering our community and food sovereignty goals, Tribal Chairman Rick Peterson said in a news release. The need to be able to feed our own community with our own resources has really been highlighted by the COVID-19 pandemic. Our people have been fishing the waters of Lake Superior for many generations and this new facility will also allow our tribal fishermen to have a more direct role in selling their catch.

Chad Abel, the director of Red Cliff Treaty Natural Resources, said with this new business the tribe can achieve local food control, maximize fisheries economic potential and preserve commercial fishing traditions.

The tribe has been planning the processing facility for nearly a decade and hopes to complete it in September for a Labor Day weekend opening.

Once operations begin, Red Cliff Fish Co. will buy catch from independent tribal commercial license holders, and the facility will process, package and sell different fish products to distributors, markets and restaurants. The facility also will have a 400-square-foot retail space to sell products such as fresh and frozen filets, smoked fish, fish spreads and caviar.

Fish waste will be composted for use at the Mino Bimaadiziiwin Tribal Farm.

The tribe has 33 commercial fish license holders who bring in more than 600,000 pounds per year, the news release said.

Despite contributing 10.61% of all Great Lakes lake trout harvest, 17.26% of all Great Lakes herring harvest and 5.51% of all Great Lakes whitefish harvest, there is not a means to process the tribal catch on-reservation or through a tribal-owned business, Abel said. As a result, nearly all tribal catch is sold at wholesale prices to off-reservation processors.

But once the fish processing facility starts up, it will provide more competitive prices, help create or maintain 105 jobs and allow the Red Cliff community to reap the economic benefits.

The construction and operation of the processing facility was made possible by a series of grants, including a $1 million grant from the U.S. Department of Health and Human Services Administration for Native Americans.

Funding sources also included a $543,140 HUD Indian and Community Development Block Grant for dock expansion and improvements to Dock Road, and $595,000 for building construction and equipment.

The Red Cliff Band has invested more than $271,000 in the development and success of the Red Cliff Fish Co. as well.

Excerpt from:
Red Cliff breaks ground on fish-processing facility - Ashland Daily Press

Utahs construction industry has felt the initial sting of the coronavirus pandemic, which has fundamentally altered job sites. But the bigger challenge looms, as experts predict a lengthy downturn in demand for new buildings as the states economy sags.

Nearly a quarter of all Utah jobs are tied somehow to construction, real estate or retail three sectors closely intertwined in any recovery from effects of the health emergency.

Home prices along the Wasatch Front have stayed relatively level so far, according to Dejan Eskic, research associate at the University of Utahs Kem C. Gardner Policy Institute. But home sales dipped nearly 24%, Eskic said, and this is a big deal, especially as April is usually the start of the home-buying season.

Construction activity is down 45% compared to last year, Eskic said, and tens of thousands of job losses among Utahs renters could well slow future demand for nearly 5,500 new apartments that were under construction when the crisis hit.

The Beehive State had the benefit of going into the outbreak with both its residential and commercial real estate markets thriving, according to David Layton, president and CEO of Sandy-based Layton Construction though its unclear how long that cushion will last, even as the economy starts to reopen.

We entered this with strength and that momentum has really tempered the impact so far, Layton said Tuesday, as part of an online business conference sponsored by the University of Utahs Eccles School of Business.

But I foresee the next seven and a half months being very telling of where our industry ends up going into 2021 and 2022, he said.

Construction, Layton and others noted, has been deemed an essential business in state and county health orders. Thats meant work has continued but it has required changes at building sites including daily employee questionnaires, segregated chemical toilets and new hand-washing stations, the CEO said.

Layton Construction and other firms have also seen their access to supplies of key building materials interrupted in the crisis, he said, forcing some slowdowns.

In hopes of keeping its workers healthy, Layton said, the company has treated each of its 175 job sites across the U.S. as its own village. And as a member of the village, he said, employees have responsibilities to follow the protocols, both at the job site and certainly away, because irresponsible behavior outside of work could put co-workers in jeopardy.

Adequate social distancing isnt always possible at a work site, Layton said, but his employees use protective gear and are interviewed when reporting to work on their risk for exposure the night or weekend before, Layton said.

Thats been proven very beneficial in keeping the virus from entering our job sites, he said. They have embraced this because they know we're kind of all in this together.

But as businesses from a variety of industries are now getting squeezed by effects of an abrupt decline of commercial activity, many are postponing work or modifying construction plans with the absolute requirement to save money, Layton said.

Retail outlets have seen some of the greatest damage from the health-related closures, in a trend that is likely to dampen demand for new construction of stores, shopping centers and strip malls. And a further shift to online shopping as more Utah residents work from home is likely to make some of those changes permanent.

Some retailers were really in a difficult position before COVID-19, said Linda Wardell, general manager at City Creek Center in downtown Salt Lake City. And now they're in an even tougher position now.

City Creek Center, which reopens Wednesday after closing March 20 due to the pandemic, will see a gradual return to full business over several weeks, Wardell said. Many of the upscale malls tenants are behind on rent, she said, and others continue to see supply chain disruptions and cant get unique goods that define their brands.

So were all going to need to be patient, she said, while customers may need to embrace new realities on hygiene, face masks and other precautions while visiting the mall.

Its really too soon to say if our customer is going to come back into our environment to shop, Wardell said. So in some ways, this is an exciting but also a very nerve-wracking time for us.

Social distancing is transforming the prospect of building new office spaces, too. With more office employees working from home and those going to work needing more space, its unclear just how those trends will change construction plans.

We're going to see office users taking a very close look at densities and their workspace environments as we move forward with this new world, said Brandon Fugal, chairman of Colliers International, a commercial real estate brokerage with offices in Salt Lake City.

Along with other real estate firms, Colliers International has produced detailed guidelines for returning to work for office tenants, investors and landlords with a goal of instilling confidence to boost economic activity, Fugal said.

Its important that we get the machinery back in full swing here and in full operation, the real estate executive said. But with that comes great responsibility.

Read the original here:
How will Utah's construction industry rebuild in the coronavirus era? Slowly. - Salt Lake Tribune

NASHVILLE, Tenn. (WTVF) The general contractor overseeing of one of Nashville's largest construction sites closed it over the weekend for extensive cleaning.

Skanska suspended operations at 5th and Broadway for three days following concern from employees after at least two workers tested positive for COVID-19.

Workers at the site contacted NewsChannel 5 Investigates concerned about a lack of transparency involving COVID-19 issues.

Parts of the 6 acre site across from the Ryman Auditorium are scheduled for completion later this year.

5th and Broadway includes two sky rises with offices, apartments, retail space and the National Museum of African American Music.

Hundreds of construction workers go there everyday.

One worker hid his identity and came forward to speak with NewsChannel 5 Investigates.

"Why are you hiding your identity?" NewsChannel 5 Investigates asked.

"For fear of any type of retaliation against me," the worker responded.

"The reason I'm reaching out is so we can hopefully get more transparency and actual facts," the worker said.

In early April, workers secretly recorded a contentious meeting in which managers told them about two positive COVID-19 cases on site.

"Some of us are hearing about this for the first time three weeks after the incident. Why?" workers asked managers in the video.

The manager told workers, "Guys, I am just as concerned about this as you."

A representative from Skanska, the general contractor at 5th and Broadway, said they had made a mistake by not telling workers immediately after learning a worker had tested positive.

A worker in the meeting said, "We've got to have information to come in here and put our lives on the line."

The manager in the meeting responded, "Absolutely, Absolutely."

The manager also said, "The decision made going forward is to be completely transparent."

Skanska sent a statement to NewsChannel 5 Investigates saying the positive test came from an "overnight delivery" person who worked in a separate building from the workers in the video.

The company said "Safety is priority one" and "We have since updated out protocols to have regular communication with all groups across the site."

Ethan Link, with the Central Labor Council of Middle Tennessee, said he has heard from workers at many downtown sites, but he singled out 5th and Broadway.

"No one really knows how safe they are right now," Link said.

"If you went and asked ten different workers on that project what they know about COVID exposures, I think you will get ten different answers. And that's a problem," Link said.

The worker told NewsChannel 5 Investigates it is not uncommon for people to be sent home because they are showing symptoms, but then there is no communication about whether the person was actually sick or it was a false alarm.

"We touch things for a living. We go around the building and we tough everything in the building," the worker said.

He is worried about bringing the virus back to his family.

NewsChannel 5 Investigagtes asked, "Why don't you just walk off the job?"

The worker responded, "Because you can't get unemployment if you just quit. So I have to provide for my family."

Skanska said it closed the entire 6 acre site through Monday "for extensive cleaning."

The company said it has "mandatory temperature checks", "mandatory face coverings" and has "zero tolerance for working sick."

Link pointed to the large number of complaints the state has received from workers across the Tennessee.

"Companies right now are self policing these guidelines," Link said.

He said the Tennessee Occupational Safety and Health Administration should provide much more oversight.

"OSHA needs to be very much more involved in those downtown construction sites," Link said.

Workers on site say the uncertainty is taking a toll.

"I hear about people arguing with their families, their loved ones, their wives, people who take care of their parents. They're worried about bringing it back home," the worker said.

The full statement from Skanska as well as responses to some of our questions is below:

Safety is priority one for Skanska. We want nothing more than for our employees and subcontractors to be informed, healthy and aware. This is a 6.2-acre construction site with three separate components (apartment tower, office tower, and retail and entertainment complex). When we received word on April 2nd of an overnight delivery to the apartment tower by someone who tested positive for COVID-19, we immediately identified and quarantined the individual who had direct contact, fully traced the areas of impact, closed the floors of the apartment tower on which he was present, and informed those who were working on the apartment tower. We have since updated our protocols to have regular communication with all groups across our site.

The following answers to your questions will fill in more details about the timeline and overview our safety protocols.

Apparently the worker who tested positive was onsite on March 25. He tested positive on April 2. Workers were told after that. What is the communication timeline for that case?On April 2: Skanska received notification from a subcontractor that one of their workers had tested positive for COVID-19.

The subcontractor informed Skanska that the individual had made an overnight delivery to the Fifth + Broadway apartment tower jobsite site and it was determined they had come into contact with one other person. That person was immediately notified and told to self-quarantine for 14 days.

Skanska verbally informed the other subcontractors working on the apartment tower of this positive test result.

Following CDC recommendations, the floors the subcontractor employee visited were closed and isolated on April 2nd for four days.On April 6: Floors reopened after isolation.

Skanska sent a follow up email notification to subcontractors working on the apartment tower outlining incident and protocols.

What exactly is being constructed at that site and how many workers are present? When is the scheduled completion date?

Three different components over 6.2-acres: an apartment tower, an office tower, and a retail and entertainment center. The apartment complex will be completed first in the coming months.

What precautions are being taken on that site?

Mandatory temperature check at the gates

Mandatory face coverings

Mandatory glove policy

Cancellation of all large gathering on site meetings

Four medics on site every day

Zero Tolerance Policy for working sick

Hand sanitization centers on every floor where work is being done

Encouraging social distance for all workers on site and in elevators

Elevators and commonly touched services cleaned multiple times daily with high-grade disinfectants

Full personal protective equipment (PPE)

What do you say to workers who say there is not enough transparency?

COVID-19 is a new phenomenon that we are continually learning about daily. We continue to develop best practices in accordance with all legal requirements and evolving CDC guidance. The safety and well-being of everyone on site comes first. We are very proud of our track record of safety on this large scale, multi-year project. Our intent is to be transparent and proactive. Since the April 2nd positive test, our Local Coordination Response Team has added additional communications check-points to ensure immediate notification, no matter what component of the project site may have a suspected case. In addition to a mandatory all-hands call with all subcontractors, Skanska sends out emails to workers onsite almost daily with relevant COVID-19 updates, including every time a worker from the site gets tested for COVID-19, test results (positive or negative), and area closures for high-grade sanitization.

Has the project been shut down because of COVID-19?

The project has not been shut down by any governmental agencies. We have worked cooperatively and transparently with local government and public health agencies throughout the COVID-19 pandemic. Over the weekend, we have decided to take the opportunity to suspend operations for the entire 6.2-acre project site for 72 hours for extensive cleaning. No workers are allowed on site during this period. During this time, an advanced cleaning of primary footpaths, gathering spots and all other areas of density will be conducted. The site will be fully operational again on Tuesday, May 5th. Once it reopens, all elevated safety measures will continue, including mandatory temperature checks for all workers at the entrance gates, where medical clearance bands will be issued.

View post:
Workers at 5th and Broadway voice concerns about safety and lack of transparency over COVID-19 - NewsChannel5.com

COVID-19 hasnt slowed progress in one area as Lenoir City and Loudon continue with new projects.

Beth Collins, Lenoir City planner, said the virus hasnt had much of an impact on the construction industry.

This is typically the beginning of our busy season in the spring, she said. Weve not had any kind of slowdown that Ive seen. Weve had kind of an upswing on residential calls, inquiries on remodels. Seems like a lot of people are taking advantage of maybe this extra time to do a project at home fencing, decks, that sort of thing.

Travis Gray, Loudon inspector and codes officer, agreed there is consistency in construction work.

Even through this COVID-19 emergency weve had, weve had consistent people building houses on a consistent basis, he said. Nobodys really quit. We tried our best to get those permits out and keep them moving forward and letting these contractors and homeowners build them a home if thats what they want. There hasnt been any slowing down.

Loudons current projects are all residential, Gray said.

Sweetwater Creek is going into its second phase, he said. We have a new subdivision at the interstate called Cedar Grove and theyre moving right along. I think theyve got maybe 10 or 12 houses started in that subdivision. Thats pretty much the biggest part of our construction right now is in the residential market. We dont have anything commercial or industrial going at the moment.

Lenoir City has both residential and commercial projects in the works, Collins said.

Commercial-wise, weve got Firestone Tire being built over at the market at Town Creek, she said. Of course, the Lenoir City fire hall over on Depot Street is being remodeled with additions. Theres a building called Lenoir City Retail Four located beside Gondolier so its a four-tenant space. Little Caesars is in there Campbells Pool and Spa is going in one of the spaces. Theyre working on it now. Theres a Jimmy Johns going into one of the spaces, and then we dont know who the fourth tenant will be at this time. Theyve not submitted for our fourth tenant.

There are also projects coming down the pipeline, Collins said. Avid Hotel will be going up on U.S. Highway 321 near Bimbos, and GatorStep Marine Decking will be relocating to Lenoir City from Knoxville.

Lenoir City will also have new residential projects.

The Creekwood Villas that were going on, going to be built down on Creekwood Boulevard, that is still proposed, Collins said. They have actually moved the site down one parcel, so were kind of starting over with the process now. Its going to be on our May planning commission agenda for rezoning and site plans. Theres a proposed 274 units. Its one- and two-story apartments. The amenities that are being proposed, theres going to be a clubhouse, a pool, a playground and a dog park. So it looks like a very nice thing.

We also have a project off Williams Ferry thats going to be called Harper Village, and that is the old Tennessee Baptist property, and that is a proposed 200 unit townhome development. Off Ash Avenue where the old Ash Trailer Park used to be, they are proposing a 100 single-family home subdivision.

Read more here:
New construction projects on the horizon | Covid19 - news-herald.net

Text size

Vornado Realty Trust, one of the largest commercial landlords in Manhattan, is feeling the effects of New Yorks economic woes as it collected only 53% of the rent due from its retail tenants in April, according to its first-quarter earnings report late Monday.

Vornado (ticker: VNO) owns a large collection of office buildings in Manhattan, including a cluster around Penn Station. With more than 2.4 million square feet of retail space in Manhattan, it is also the largest owner and manager of street retail in Manhattanwith tenants like Coach, Nike, Sephora, and Victorias Secretand sold about half of what it owned last year into a joint venture.

Vornado said that many tenants are seeking rent relief and that substantially all its retail tenants have closed their stores with the exception of grocery businesses.

While its office buildings remain substantially open, all tenants are working remotely, with occupancy around 5%. New York businesses largely shut down or curtailed their operations in late March.

The companys longtime CEO, Steve Roth, 79, said on a conference call on Tuesday that Vornado had collected 90% of April office rents and 53% of retail rents, for a total of 83% collected. He noted that the monthly unpaid rent was $24 million, with two-thirds coming from what he called creditworthy tenants.

If rent collection rates remain the same for a year and if other disruptions continue, it would cost Vornado about $1 a share, Roth said.

He also reiterated comments from his annual shareholder letter that the company was not interested in buying back its own stock while calling the share-price decline this year of about $25, or $5 billion of market value, a gross exaggeration. The company is now valued at less than $8 billion.

Net asset value accretion from stock buybacks are insignificant compared with development opportunities, he said, adding, Right now, buybacks are not No. 1 on our hit parade.

Roth said the company would re-evaluate its dividend now 66 cents a quarter. The stock yields about 6.6%.

Before the conference call, Stifel Sandler analyst Alexander Goldfarb wrote in a client note that eyes turn to the dividend, which he called materially uncovered this year and in 2021

Covid impact so farHotel Penn closed, almost all retail closed with many seeking rent relief, trade shows at theMART [Chicagos former Merchandise Mart] postponed for FY20, and certain development projects on hold, he wrote. Goldfarb has a Neutral rating on the stock.

In Tuesdays call, Roth highlighted the companys financial strength, saying that it has the ample liquidity to complete the renovations of Penn 1 and Penn 2 buildings as well as develop a large, low-rise building within the Farley Post Office Building across the street from Penn Station.

These projects will be completed with no debt attached to them, giving Vornado holders all the upside, Roth said. New York, he said, is the business capital of the world and has always come back bigger and better.

Roth said that he believes that New York workers want to return to their officeswe dont believe that working from home will become a trend. He also said the social distancing stemming from Covid-19 pandemic means the densification trend of cramming workers into smaller spaces is over.

Vornado Vice Chairman David Greenbaum said in response to a question about when workers will return to their offices that it will be a gradual process with 10% to 20% returning initially. There will be fewer people taking mass transit and more driving, walking or bicycling to work, he said.

Roth was asked about whether Vornado might consider demolishing the Hotel Pennsylvania, a dingy building that has a large footprint on a full block that would enable construction of a large office building. Roth said Vornado isnt inclined to do that.

Write to Andrew Bary at andrew.bary@barrons.com

Read more:
Vornado Says It Collected Only 53% of Rent From Retail Tenants - Barron's

The glass curtain wall of202 Broome Street has reached the final setback of the 14-story mixed-use building on Manhattans Lower East Side. Designed by CetraRuddy, the property will feature 175,000 square feet of Class A offices with a max of 13-foot-high ceilings, 34,500 square feet of retail space, 83 residential units, and a 9,000-square-foot indoor park and recreation area called Broome Street Gardens.The project is part of the six-acreEssex Crossingcomplex, which is being developed by Delancey Street Associates,BFC Partners, L+M Development Partners,Taconic Investment Partners,The Prusik Group, andGoldman Sachs Urban Investment Group.

Recent photos from Tectonic show the state of progress on the curtain wall. Only four more floors are left to be filled in before the envelope reaches the parapet, where a final mechanical section is housed behind a rectangular enclosure of concrete and cinder block walls.

202 Broome Street. Photo by Tectonic

202 Broome Street. Photo by Tectonic

202 Broome Street. Photo by Tectonic

202 Broome Street. Photo by Tectonic

202 Broome Street. Photo by Tectonic

202 Broome Street. Photo by Tectonic

202 Broome Street is bordered by Delancey Street to the north, Broome Street to the south, Suffolk Street to the east, and Norfolk Street to the west. Triton Construction is the general contractor for the project. The closest subways are the J, F, M, and Z trains at the Delancey Street/Essex Street subway station, while pedestrian and bicycle paths for the Williamsburg Bridge are found along Delancey Street.

Essex Crossing as a whole is expected to cost $1 billion and will bring more than 1,000 new homes, 100,000 square feet of green space, over 350,000 square feet of offices, and 300,000 square feet of retail space to the Lower East Side. These full-block plots of land were used as parking lots and were some of the last few stretches of underutilized properties in the area.

202 Broome Street is expected to be completed by the end of 2020. The Essex Crossing complex is slated to be finished around 2024.

Subscribeto YIMBYs daily e-mailFollowthe YIMBYgram for real-time photo updatesLikeYIMBY on FacebookFollowYIMBYs Twitter for the latest in YIMBYnews

Link:
202 Broome Street's Curtain Wall Reaches Final Tiered Setback, on the Lower East Side - New York YIMBY

At the beginning of the year, they were healthy signs of Eastons hopeful future.

Investments of millions of dollars were being made to bring new workers and residents to the citys Downtown and make use of spaces whose glory was tied to a long-ago era.

Some efforts were nearly complete, others just getting underway and others still simply inspiration on a drawing board.

But combined, they certified a pulsing momentum of a business district on the move.

And then, of course, it all stopped. Nonessential, they were called as COVID-19, the disease caused by the coronavirus, came to define everything and anything.

But Pennsylvania Gov. Tom Wolf set May 1 as the day construction could resume. Even while the disease remains a significant threat, builders on Friday can go back to building. With, of course, reasonable restrictions.

A drive around town on a rainy late Thursday morning showed a city lacking life, projects without people, streets without traffic.

But the clock was ticking. And, for once, not in a bad way.

Townley House could be serving hotel customers by July, its owner saysTony Rhodin | For lehighvalleylive.com

Restauranteur Mick Gjevukaj was well along with his boutique hotel project last time we talked in December. He envisioned a spring opening for the $2 million conversion of the abandoned Townley Building at 130 N. Third St. into Townley House, which he hopes will serve as a resting and reviving spot for out-of-town customers of his three Downtown restaurants -- Oak Steakhouse, River Grille and Ocean.

Reached Thursday night by text, Gjevukaj exuded his eternal effervescence.

Resuming, full speed ahead, May 1st, he wrote. Looks like a July opening, assuming restrictions dont interfere. Stop by next week to check it out.

Easton Mayor Sal Panto Jr. was patient on Thursday as a reporter went project by project and asked, What about this one?

And the mayor, who has defined his more recent terms in office by how the city is achieving a remarkable recovery, had only good news to offer.

Crews were working on site of the Heritage Riverview project for Hearst in Downtown Easton Friday May 1, 2020. By order of Pennsylvania Gov. Tom Wolf, construction projects could resume on May 1 in Easton and other locations across the state. Developers behind the Heritage Riverview project for Hearst received waivers to do some work early, but as of May 1, they no longer needed special permission to work.Saed Hindash | For lehighvalleylive.com

What about the Hearst building -- formally know as Heritage Riverview, which had just gotten its second story facing the 100 block of South Third Street when it fell silent in mid March?

Roofer Jeff Dutt is ready to put a hat on the old bowling alley that was once a Packard dealer back in Eastons surging successes so many years back, Panto said. There was a flooded basement to deal with in recent days and a state waiver allowed for some safety measures and weatherizing to be put into place during the down time, Panto said.

And after the final concrete work finishes where floors will go, and walls and windows are added to the currently most open of open concepts, it could be turned over to the New York City publisher, which is bringing 175 jobs Downtown, to complete the interior space. Hearst had hoped to open mid-summer, but a new date is not yet set.

But that remaining 8,000-plus square feet of space in the 42,000-square-floor business space? Hearst is considering taking that as well making it a solely Hearst community, Panto said.

The Days Inn property in Easton may look like a parking lot longer than expected before it is developed.Tony Rhodin | For lehighvalleylive.com

That would change a couple of things in the Downtown construction landscape, Panto said. Hearst had already taken the remaining space in the parking garage behind city hall on South Third Street and with more employees in the extra space, there will be a need for parking, the mayor said.

Peron Development in recent days put down the $1.1 million to buy the city parking lot which once held the Boyd and Seville theaters on North Third and work should begin by June on the mixed use development there that will bring dozens of apartments and street level retail space, Panto said.

But that puts the city in a bit of a squeeze, because the planned North Fourth Street parking garage is just at the beginning of the approval process, and the historic commission hasnt met in two months because of COVID-19, Panto said. From the day the design gets city commissions okays, it will take 12 months to build the precast concrete pieces for the garage -- although just weeks to put them together once on scene, Panto said. Its similar to how city hall was built.

With construction about to begin on the old Boyd Theatre property on North Third Street in Easton, the site (seen here) of the new garage on North Fourth Street still awaits city approvals.Tony Rhodin | For lehighvalleylive.com

Parkers in the current North Third Street lot are about to get their 30-day notices, the mayor added. They, too, will need somewhere else to go. The Pine Street garage, which is well past its end date, cant come down until these other projects finish, officials have said.

So, where to put the cars? The huge mixed-use project called The Confluence that is planned for the old Days Inn property at South Third Street and Larry Holmes Drive will wait and the space will be used for whatever vehicular overflow results as other projects come online first, Panto said.

The city is working toward formally selling that property to Peron and wont get the $5.9 million it paid when the hotel still stood there, Panto said. But, eventually, the city will do very well collecting property taxes from the developer and income taxes from the residents and workers, Panto said. The city will be whole -- and more -- on this deal far quicker that it would have been with the previously planned aquarium project, which would have eventually paid off through city amusement taxes, Panto said.

It was a good investment, Panto said about buying and demolishing the hotel and then continuing with a community-based plan to choose a developer. While it wont immediately get back what it paid, the city will get more than the appraised value for the property, he said.

The Commodore, which is the old Kaplan's Awnings building on Northampton Street at Larry Holmes Drive in Easton, recently got its final piece of financing, the mayor says.Tony Rhodin | For lehighvalleylive.com

The Commodore, a mixed use project at the old Kaplans Awnings building at Northampton Street and Larry Holmes Drive, has sewed up the last of its financing -- a $3 million state loan, Panto said. The eight-story combination of new construction and rehabilitation is expected to draw many more people to the section of the city near the free bridge, and business people along that block have been looking forward to construction getting underway. Developer Garett Vasel couldnt immediately be reached Thursday afternoon for a timeline.

Developer Borko Milosev didnt have much time to celebrate the success of his North 13th Street condo project, which sold out in just a few days, before his other projects in the city ground to a halt. His efforts in the 500 and 1500 blocks of Northampton Street are set to resume, he said.

Developer Borko Milosev still has a lot of work to do in the 500 block of Northampton Street in Easton, but he's expecting to get back to work soon.Tony Rhodin | For lehighvalleylive.com

It is our plan to restart the projects as soon as we can, he said in a Wednesday text. ... I believe weve cleared" any regulatory barrier. All construction can resume based on guidelines.

And Lafayette College, which has a significant Downtown presence but is doing major construction at the moment on College Hill, got a state waiver and was able to continue dorm construction along McCartney Street ahead of the ban ending, Panto said. Workers on Thursday were adding bricks to the building closet to High Street.

Lafayette College got a state waiver to get back to work on the McCartney Street dorm project in Easton, the mayor says.Tony Rhodin | For lehighvalleylive.com

As for Garrett Benners planned high rise on Ferry Street, thats still in the approval process and Panto had no update.

But, overall, anyone in Downtown Easton over the next few weeks will see a neighborhood attempting to get back to work as Pennsylvania just begins to reopen for business.

Thank you for relying on us to provide the journalism you can trust. Please consider supporting lehighvalleylive.com with a voluntary subscription.

Tony Rhodin may be reached at arhodin@lehighvalleylive.com.

Excerpt from:
Its May 1. Eastons major construction projects have green light to restart. Whos ready? - lehighvalleylive.com

ARLINGTON, Va.--(BUSINESS WIRE)--AvalonBay Communities, Inc. (NYSE: AVB) (the Company) reported today that Net Income Attributable to Common Stockholders for the three months ended March 31, 2020 was $167,971,000. This resulted in a decrease in Earnings per Share diluted (EPS) for the three months ended March 31, 2020 of 3.3% to $1.19 from $1.23 for the prior year period.

Funds from Operations attributable to common stockholders - diluted (FFO) per share for the three months ended March 31, 2020 decreased 1.3% to $2.28 from $2.31 for the prior year period. Core FFO per share (as defined in this release) for the three months ended March 31, 2020 increased 3.9% to $2.39 from $2.30 for the prior year period.

The following table compares the Companys actual results for EPS, FFO per share and Core FFO per share for the three months ended March 31, 2020 to its results for the prior year period:

Q1 2020 Results Compared to Q1 2019

Per Share (1)

EPS

FFO

Core FFO

Q1 2019 per share reported results

$

1.23

$

2.31

$

2.30

Established Community NOI

0.08

0.08

0.08

Development and Other Stabilized Community NOI

0.10

0.10

0.10

Capital markets and transaction activity

(0.12

)

(0.13

)

(0.06

)

Joint venture income

(0.01

)

(0.01

)

(0.01

)

Overhead and other

(0.07

)

(0.07

)

(0.02

)

Gain on sale of real estate and depreciation expense

(0.02

)

Q1 2020 per share reported results

$

1.19

$

2.28

$

2.39

(1) For additional detail on reconciling items between EPS, FFO and Core FFO, see Definitions and Reconciliations, table 3.

Established Communities Operating Results for the Three Months Ended March 31, 2020 Compared to the Prior Year Period

For Established Communities, total revenue increased $16,127,000, or 3.0%, to $547,956,000. Operating expenses for Established Communities increased $4,819,000, or 3.2%, to $156,311,000. NOI for Established Communities increased $11,308,000, or 3.0%, to $391,645,000. Rental revenue for Established Communities increased 3.1% as a result of an increase in Average Rental Rates of 2.7% and Economic Occupancy of 0.4%.

The following table reflects the percentage changes in rental revenue, operating expenses and NOI for Established Communities for the three months ended March 31, 2020 compared to the three months ended March 31, 2019:

Q1 2020 Compared to Q1 2019

RentalRevenue (1)

Opex(2)

NOI

% ofNOI (3)

New England

3.8

%

5.2

Continued here:
AvalonBay Communities, Inc. Announces First Quarter 2020 Operating Results - Business Wire