The demolition site at 2107 Dwight Way at Shattuck Ave. where a new 6-story mixed use development will be built. Photo: Charles Siler

Demolition has begun on the lot at the corner of Shattuck Ave. and Dwight Way, bringing down the building that washome to furniture store Modernaire, which has moved to a new location.In its place will bea new, 6-story mixed-use housing development, constructionof which is set to begin in September.

Menlo Management Companyis behind thedevelopment at 2107 Dwight Way,whichwill feature 99 rental units, 5,607 sq. ft. of ground floor retail space, and 45 parking spaces. A 2012 Zoning Board report says the housing units will be marketed primarily to students.

The projects architect is Richard Christiani of San Francisco-based firm Christiani Johnson Architects. Christiani says he expects to complete construction in March 2016, 18 months after the scheduled start date. He saiddemolition at the site will be complete soon.

The planned apartment complex at 2017 Dwight Way. Rendering: Christiani JohnsonArchitects

The development will include nine below-market-rate dwelling units. This is the minimum required for a 99-unit building under Berkeley law, which mandates that one in ten units be affordable priced so that a family earning less than the regional median income can afford the rent.

According to the Christiani Johnson Architects website, the Dwight way development will also feature a landscaped central courtyard, a rear yard with outdoor grilling and a movie theater, bike storage and car share facilities.

Modernaire, which specializes in mid-century modern furniture, has moved to 621 San Pablo Ave.,near the junction ofCedar and Hopkins.

[Read more about the construction explosion in downtown Berkeley]

TheDwight way projectis one ofa wave of developments that are set tocausea boom in population and retail space in downtown Berkeley. According to a 2014 brochurefrom the Downtown Berkeley Association, 1,100 new units are plannedfor the downtown area by 2018, potentially increasing the areas population from 3,000 to 5,000.

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Construction to begin on 6-story downtown development

Hunt Valley Towne Centre is expanding again. This time, though, the expansion is taking the form of upscale apartments, the first residential component to be added to the project since its inception about a decade ago.

The apartments are being built on a 6.5-acre parcel that Greenberg Gibbons Commercial Corp., developer of Hunt Valley Towne Centre, 118 Shawan Road, Hunt Valley, sold to AvalonBay Communities, a national residential developer.

"We had designated a residential area" in the original Hunt Valley design, Tom Fitzpatrick, Greenberg Gibbons' president and chief operating officer said last month. "We went to multiple residential developers" for bids on the property. He declined to provide a sale price for the land.

Fitzpatrick said the sale of the land for residential use completes the mixed-use intent of Hunt Valley. "We had the retail and the office," he said. "Now, we're bringing in the third component, the residential."

AvalonBay is calling the residential project Avalon at Hunt Valley Towne Centre. It will consist of a five-story building with 332 upscale apartments that will rent at market rate. The building is located on the east side of Hunt Valley, adjacent to the Pier 1 retail store. Construction may begin in fall of 2014, with completion in spring of 2016.

Greenberg Gibbons is developing and will manage 30,000 square feet of retail space that is going into the ground floor of the building.

Headquartered in Arlington, Va., AvalonBay owns and manages 276 apartment complexes with more than 82,000 apartments nationwide.

AvalonBay has already gone through the Baltimore County approval process and received zoning approval to proceed, according to Fitzpatrick. He also said that approval from tenants of Hunt Valley's retail portion was not required for the residential development to move forward.

Fitzpatrick said that Greenberg Gibbons owns other, undeveloped land that is part of the retail center of Hunt Valley. But, he added, "We don't anticipate selling off additional land at this time."

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Upscale apartments coming to Hunt Valley Towne Centre

Hub developers want to convert a 19th-century South End warehouse into a 42-unit residential development called The Factory at 46 Wareham.

The proposed six-story, 62,215-square-foot building would have five residential floors, 9,400 square feet of ground-floor retail space and 52 below-grade parking spaces.

Holland Development Inc.s plans, formally filed yesterday with the Boston Redevelopment Authority, call for the existing four-story, 30,231-square-foot warehouse to be partially demolished, leaving the front and west facades in place and connected to the new construction. Three additional levels would be added.

A potential tenant for the first-floor retail space is the 117-year-old Society of Arts and Crafts, which has expressed an interest in relocating from Newbury Street to join the growing South End arts community, according to the documents filed with the BRA.

The Wareham Street warehouse now is only partially occupied by food importer Samos Imex Corp. with two full-time employees. Its windows on the first two floors have been removed and replaced with concrete cinderblocks and plywood.

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Plan would convert South End warehouse to housing, retail

A mothballed retail project on the outskirts of Limerick city, which was abandoned mid-build during the property crash, is set to undergo a 100m redevelopment, with the potential to create 2,000 jobs.

A planning application will be lodged with Limerick City and County Council today by Belfast-based developer Suneil Sharma, to complete the partially-built Parkway Shopping Centre on the main Dublin to Limerick road as Horizon Mall.

The application will seek approval to amend the existing planning permission for the site and to reduce the projects scale, while retaining some of its core elements.

The project represents one of the largest private sector investments in the Limerick area and, if sanctioned, will create 500 construction jobs and up to 1,500 retail jobs when completed.

However, city councillors and some business interests have previously argued that the focus should be on investment in the city centre.

Work on the Parkway site ground to a halt in 2007 when developer Liam Carrolls Zoe Group collapsed.

Mr Sharma, who has property interests in Limerick for over 15 years, subsequently bought the site.

He said its strategic location has already generated interest from several international retail brands, many of which would otherwise not consider locating in the city.

Marks & Spencer have agreed to take 100,000 square feet in the new scheme their largest store outside Dublin, he said.

We are involved in very positive discussions with other major retail brands and will be making further announcements about this in the weeks and months ahead.

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2,000 jobs on cards as retail project gets 100m revamp

The July 1 vote by the Coweta County Commission to abandon a portion of Wynns Pond Road in east Coweta paves the way for the development of the large Fischer Crossing retail development on the northeast quadrant of Fischer Road and Ga. Highway 34.

The measure called for a median cut on Ga. Highway 54 at Wynns Pond Road and the installation of a gated cul-de-sac on the west side of the roadway near the retail area for use by residents of the Featherston Fishing Club and emergency vehicles.

The approval came on a 4-0 vote, with Chairman Bob Blackburn excluding himself from the discussion and vote due to an affiliation with the Featherston Fishing Club.

Though no tenants have been identified, signs posted on the Fischer Crossing property note plans to establish 200,000 square feet of retail space on the site.

Unless other changes pertaining to the development are requested by the owner, the only issue preventing construction of the large shopping venue is securing the required grading and land disturbance permits.

Project representative Steven Gaultney last year agreed to the conditions that pertained to the Featherston Fishing Club property immediately to the east and northeast of the retail development.

Though Wynns Pond Road once ended at Fischer Road on its west side, the agreement called for closing the road approximately 1,000 feet to the east. One of the conditions stipulated that a cul-de-sac be constructed at the new western end of Wynns Pond Road and a gate and keypad installed to permit only Featherston Fishing Club residents and emergency vehicles access to the roadway and the homes located to the east.

Another condition dealt with the median cut on Hwy. 54 at Wynns Pond Road that has long been a requirement associated with the large Fischer Crossing commercial project. The median cut was part of the overall approval of the development several years ago to provide direct access to Wynns Pond Road from Hwy. 54 for members of the Featherston Fishing Club.

The condition agreed to by Gaultney stated that the developer will either install the median break or will provide an irrevocable letter of credit from a bank approved by the county to cover the cost of the installation. Certificates of occupancy for any new commercial construction will not be issued until the median break is installed.

Gaultney last year told commissioners the development would represent a $32-33 million investment.

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Coweta OK's road abandonment for Fischer Crossing retail expansion

Since going public in 2012, property developer Century Properties Group expects to complete 31 new buildings with around 1.67 million square meters of residential, office and retail space through 2019.

In a press statement on Thursday, CPG said that within the next six years, it expected to complete new residential projects for the luxury, middle income and affordable markets, as well as retail, office and medical office developments. Apart from these, Century is also developing an office building in Bonifacio Global City.

The countdown for the 31 buildings started in the year 2012 when CPG became a publicly listed company. Prior to 2012, CPG has completed 25 condominium towers totaling 873,127 square meters with 8,777 units.

Of the 31 new towers that CPG plans to deliver through the next six years, six have so far been completed: Gramercy Residences, Knightsbridge Residences, Century City Mall and the first three towers of The Azure Urban Resort Residences.

The additional residential space will mostly be located within the companys master-planned developments in Metro Manila: Century City Makati, Acqua Private Residences in Mandaluyong, Azure Urban Resort Residences in Paraaque and The Residences at Commonwealth in Quezon City. Outside of Metro Manila, CPG will also develop residential towers in its Canyon Ranch project in Cavite. Its land bank for future development also consists of properties in Pampanga, Quezon City and Batangas.

CPG earlier announced that it is expected to complete six commercial buildings totaling roughly 160,000 square meters by 2019.

Century is now evolving from being a top residential developer in Metro Manila to a well-diversified real estate developer with recurring revenue streams, CPG chief operating officer Jose Marco Antonio said.

Aside from the six completed buildings, CPG has 25 others that are now under various stages of development and construction, broken down as follows: five towers in Century City including Centuria Medical Makati, Milano Residences and Trump Tower; six towers in Azure, eight towers in Commenwealth, one office building in Fort Bonifacio and five towers in Acqua.

CPG plans to debut on the local bond market with a retail offering worth as much as P3 billion from a local offering of retail bonds, boosting funds for its expansion program. The plan is to offer unsecured fixed-rate peso denominated retail bonds worth at least P2 billion with an option to upsize by P1 billion.

Local credit watcher Credit Rating and Investors Services Philippines Inc. has assigned an AA+ issue rating with a stable outlook on the bonds, citing CPGs strong market presence, healthy financial position, and excellent land banking strategy.

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Century Properties unveils growth plan

IFC, part of the World Bank Group, said its support for the $120 million Jabi Lake mall project in Abuja aims to support demand for modern business infrastructure and retail space.

The mall, which will be Nigerias largest, is being built on five hectares of land and will serve as a catalyst for urban development in the surrounding area, IFC said. IFCs investment in the mall, which will have more than 30,000 square metres of retail space, is $9.5m.

IFC said the mall will be the largest retail development of international standard in Abuja and create links to the local economy throughout its construction and operation. Jabi Lake will create new sales channels for Nigerian retailers, including local small and medium enterprises, IFC said.

Construction began on the project in late 2013 and is expected to be completed in 2015. The projects primary sponsor is the Actis Africa Real Estate Fund 2 (AR2). Duval Properties is the joint venture partner with Actis, a private equity firm that invests in Africa, Asia and Latin America.

IFCs country manager for Nigeria, Solomon Adegbie-Quaynor said: Our investment is part of IFCs strategy to help strengthen business infrastructure, contribute to economic growth, and increase job opportunities in Nigeria.

AR2 director Amanda Jean Baptiste said: Investing in the Jabi Lake mall demonstrates Actis commitment to developing world-class retail destinations and adding to the domestic infrastructure in Nigeria, as well as our support for the growing demands of a rapidly changing economy. Our partnership with IFC will help us draw on their expertise in international best practice in the environmental and social aspects of the project that affect property development.

In October 2012 Actis confirmed the final close of AR2, its second African real estate fund, with total commitments of $278m. The fund is focused on retail and office developments in East, West and Southern Africa, excluding South Africa. Projects have included what Actis said is Ghanas first green office building, One Airport Square in Accra, and East Africas largest retail centre, Garden City in Nairobi.

Actis invests exclusively in emerging markets. The company said earlier this month that it currently has $6.5bn funds under management.

IFC is the largest global development institution focused exclusively on the private sector. IFC said its funding for infrastructure projects alone in Africa has reached $1.5 billion, with its InfraVentures division joining private sector partners to develop wind power projects in Tanzania and Kenya. In West Africa, IFC has invested in aviation companies and mobilised funding for the port of Lom to expand the transportation network and improve trade infrastructure in the region.

Through InfraVentures, the World Bank Group has set aside a $150m fund from which IFC can draw to initiate project development in the infrastructure sector. IFC serves as a co-developer and provides expertise while partially funding project development.

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Nigeria mall investment is catalyst for urban development, says IFC

A huge amount of resources go into constructing and maintaining buildings. This is even more so for green buildings, given that there is a premium for having green features. Mumbai consists of 20% of green buildings in India and in fact the number is increasing at a faster rate.

The government and the construction industry are proactive and are readily adopting the green building approach for the development of infrastructure.

According to a study, in the next 3-4 years about 200 million sq ft of commercial space and 45 million of retail space is expected to be constructed across the major cities of India which indicates that there is a great opportunity for developers and occupiers to promote green buildings. The challenges faced for development of green buildings in India are the extra investment in an unstable real estate market scenario and difficulty in sourcing green building materials.

Backdrop Laid for the Green Movement The global green building movement started in the 1990s, marking the start of an early trend to optimise energy use in buildings and construction. It conceived the Leadership in Energy and Environmental Design (LEED) rating system five years later. A number of foreign countries followed suit with the establishment of partnerships and environment assessment methods.

In spite of these international developments, it took quite some time for India specifically in Mumbai to join the wagon of promoting global green building. Initially there was lack of cognizance amongst the industry on the sustainability of green building construction. Today it is one of the imperative practises followed in the construction industry and contemplated as a cornerstone in the design of buildings.

Changing mindsets The biggest obstacle laid in changing mindsets, there was a substantial price tag involved in going the green way. The first thought that would run across businessmens mind would be on the finances required. The financial aspects weighed heavily in any business decision. But gradually with large section of the industry realizing that going green will only make their structures last for long term.

Plugging the knowledge gap Given that the green market in Mumbai is just emerging, there is yet a lack of skilled professionals which impeded the ability of the market to meet the demand for green buildings. The training and development of such personnel was thus vital to advance the green building agenda. A comprehensive training framework is put in place to nurture a core group of green building professionals with a target of producing green certified structures. This tactic motivated in upgrading the capabilities of existing personnel and bringing in new entrants to develop a proficient workforce.

Embarking on Sustainable Structures The city of Mumbai has willingly acknowledged the rightful solicitation of green technology to uphold high level of sustainability. The real estate projects aims at full utilization of solar energy for power and thermal stabilization along with the prime focus on water harvesting and waste recycling. Another important facet that has been looked into profusely is that of landscaping. Most of the structure design proposes terrace farms to minimize the loss of plantation on the ground.

Utilization of LAR designs, a concept that encourages ecological architecture inspired by pyramid style. Herein the designers propose vegetation on all terraces which would meet the cooling requirements of the building. Besides that the design also concentrates vastly on rain water and solar energy harvesting. The recent residential edifices believe in utilizing power and meeting the energy requirements from the wind turbines.

The road ahead Consumers today have become increasingly aware of the choices they can make to play a role in saving the earth. This reflects growing consumer demand for green buildings, and would drive developers to build more green properties across the city.

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Ecofriendly Residential Architecture: An indispensible paradigm of change

When the city of McCall's Planning and Zoning commission convenes this coming Tuesday, July 1, they'll be asked to consider a proposed construction project that would include condominiums, a restaurant and new retail spacea proposal that the McCall Star-News reports is the largest of its kind in seven years.

It's being called The Village on Lake Street and would include three buildings on 1.73 acres, with 27 condominiums interspersed among the three structures, along with a mix of retail, restaurant and office space.

McCall officials told the Star-News that the proposal was the largest since 2007 and could readily be compared to Alpine Village, just south of McCall's downtown.

Six existing homes, currently used as rental housing, would be removed from the Lake Street parcel of land if the project is approved. But the Star-News reports that before any of that could happen, the land would need to be rezoned from its current limit of eight homes per acre up to 16 homes per acre. The proposal would also see a strip of public land running through the parcel converted into a bicycle and pedestrian pathway.

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New Condo, Retail, Restaurant Project Proposed for McCall

A closely held Shanghai developer has suspended construction at a property project due to a lack of funds, according to two government officials familiar with the matter.

Construction at Shanghai Yuehe Real Estate Co.s mixed-use project, including residential, office and retail space, in the city was halted this month and the project was frozen by a court, according to the people, who asked not to be identified because they arent authorized to speak publicly about the matter. Shanghai Pudong Development Bank Co. (600000), a medium-sized Chinese bank, loaned about 240 million yuan ($39 million) to the 220,000 square meter (2.4 million square foot) development in suburban Jiading district, they said.

There will be more developers having troubles as the property downturn prolongs, said Duan Feiqin, a Shenzhen-based property analyst at China Merchants Securities Co., in a phone interview today. Many Chinese cities face oversupply of those mixed-use property projects amid the e-commerce boom, while a lot of developers, especially those small ones, are not capable of doing such developments.

Yuehe is the latest example of Chinese developers facing pressure as the nations slowing property market weighs on the growth of the worlds second-largest economy. Moodys Investors Service in May revised its credit outlook for Chinese developers to negative from stable, citing a slowdown in home- sales growth as liquidity weakens and inventories rise.

Home prices in Shanghai decreased 0.3 percent in May from April, the first decline in two years, according to the National Bureau of Statistics. New home supply in the city rose 16 percent in May on a monthly base, while sales fell 22 percent, according to SouFun Holdings Ltd., the nations biggest real estate website.

Premier Li Keqiang has sought to rein in credit expansion, particularly in the off-balance sheet shadow-banking industry, by tightening lending and curbing real-estate price speculation. He must balance such steps with efforts to meet a 7.5 percent economic growth target, after 7.7 percent expansion in the previous two years, which was the slowest since 1999.

Pudong Bank loaned more than 200 million yuan to Yuehe and has taken steps to preserve assets, the lender said in an e-mail statement to Bloomberg News queries yesterday. Collateral for the loan is adequate and valid, the bank said. Two phone calls to Yuehe went unanswered.

In March, Zhejiang Xingrun Real Estate Co., a closely held developer in a city near Shanghai, became insolvent with 3.5 billion yuan of debt. Its residential projects have been halted and authorities have detained its largest shareholder and his son, according to the citys government.

While the central bank last month called on the nations biggest lenders to accelerate the granting of mortgages, the government has refrained from broad-based easing of property restrictions imposed over the last four years to rein in prices.

Home sales fell 11 percent last month from a year earlier, the statistics bureau reported earlier this month, and private data also signaled the housing market is cooling.

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Shanghai Developer Said to Suspend Project on Funding Shortage