Real Estate Blog
Half of Denver-metro homebuyers bring six-figure incomes to closing table
More than half of the households buying homes in metro Denver are pulling down six-figure incomes, according to a new study from Zillow.
And those homebuyers, at the median, make double what households renting in metro Denver do.
“You can’t escape the rising costs of home values that are rapidly outpacing incomes. It pushes home ownership further and further out of reach,” said Zillow senior economist Aaron Terrazas.
Zillow estimates that in 2017, 52 percent of homebuyers in metro Denver made $100,000 or more in household income, up from 42 percent in 2012. That share ranked ninth highest among the 36 large metros that Zillow studied and the highest for a noncoastal city.
The median income in metro Denver for buyers was $100,288 versus $49,800 for renters. And the gap of $50,488 wasn’t necessarily about buyers getting bigger pay raises than renters. Renter incomes actually rose faster than those of buyers in that time frame, but not fast enough to keep up with rising home prices.
..
Hyatt Regency in Cambridge can’t keep up with debt service
The Maryland-owned hotel posted an operating loss of $5.4 million in fiscal 2018.
Troiani approved to tear down former Papa J’s downtown
Pittsburgh Planning Commission OKs demolition plan for first building on Boulevard of the Allies in block owned by Troiani family
American Savings Bank puts 2 Oahu properties on the market ahead of HQ move
The bank will consolidate its operations at the new headquarters building by early April.
Exclusive: Atlanta developer New City reportedly poised to buy old riverfront factory in Nashville
On another project, the developer has the backing of institutional investors advised by J.P. Morgan Asset Management.
P&G close to deal for Fort Point land next to GE headquarters
The 6.5-acre site, which abuts the future GE headquarters, could host more than 1 million square feet of new development.
WeWork to open first Palo Alto location, part of major Silicon Valley push
The fast-growing co-working company signed a lease to move into 40,000 square feet in Palo Alto — easily one of the most sought-after office markets in the region.
LG Realty optimistic for Penn Plaza redevelopment to go forward
LG Realty President Larry Gumberg expressed confidence that the long and contentious process of starting the redevelopment on the former site of Penn Plaza is now poised for a final approval by the Pittsburgh Planning Commission.
After demolishing a long-time apartment complex on the nine-acre site a few years ago, LG Realty presented a detailed proposal for a new $50 million retail-and-office complex for the first phase of a larger plan to the Pittsburgh Planning Commission today. The briefing…
Blackstone’s EQ Office sells big T-Mobile campus in Bothell
The $51 million sale came not longer after T-Mobile renewed its lease at the property, Canyon Pointe.
Mesa selects construction manager for ASU projects
The development, which will house several university programs, will be funded through city revenue.