A property at 155 Washington Street, first built as a parking garage during the 1920s, was sold by Rutgers University to L+M Development Partners. Photo by Jared Kofsky/Jersey Digs.

A developer that has been hard at work renovating a high-rise along the border of Downtown and University Heights has announced a partnership that will bring an expanding living concept to Newark.

Back in April last year, we were the first outlet to break the news about the revitalization of an 18-story tower at 155 Washington Street. The property, first built as a parking garage during the 1920s, was sold by Rutgers University to L+M Development Partners for just over $9 million.

Newarks planning board approved a final design this July to adaptively reuse the longstanding structure into a 250-unit residential building sporting 6,250-square feet of retail space. The $91 million project, drawn up by Inglese Architecture + Engineering, calls for a new four-story building connected along Washington Street that will be home to institutional space for Rutgers University-Newark.

L+M Development Partners recently announced a partnership with Dave Barry, formerly of Ironstate Development, to bring the next Urby venture to the property. The communities embrace a design approach that emphasizes common spaces to facilitate interaction between tenants via amenities like coffee shops integrated into the lobbies and communal kitchens.

The thriving, cultural hub of Newark is a perfect match for Urby as we focus on bringing community and fresh perspectives to retail and residential development, said Barry, CEO of Urby. Newark Urby will celebrate the design history of the city with this renovated tower and connect the building to the energy of Rutgers University and the movement within New Jersey and to NYC via convenient public transit.

Newarks spin on Urby, expected to be wrap construction in the spring of 2022, will include a rooftop deck, ground floor courtyard, gym, lounge areas and a music room. It will be the brands third outpost in New Jersey following 2017s opening of a 69-story Urby tower in Downtown Jersey City, with the company also operating a 409-unit building in Harrison.

In terms of the Garden State, a 25-story Urby concept in Jersey Citys Journal Square was approved last year and had been set to break ground before the COVID-19 pandemic struck. Another 466-unit Urby has been pitched for land near Hudson County Community College.

Urby has two other completed developments on Staten Island and in Stamford, Connecticut. The brand has recently set its sights on expanding throughout the country, as planning is underway to bring their developments to several cities including Dallas, Texas and Washington, D.C.

See more here:
Newark Will Be Getting Its First 250-Unit Urby Development - Jersey Digs

The following discussion should be read in conjunction with the ConsolidatedFinancial Statements of Mack-Cali Realty Corporation and Mack-Cali Realty, L.P.and the notes thereto (collectively, the "Financial Statements"). Certaindefined terms used herein have the meaning ascribed to them in the FinancialStatements. Executive OverviewMack-Cali Realty Corporation, together with its subsidiaries, (collectively, the"General Partner"), including Mack-Cali Realty, L.P. (the "OperatingPartnership"), has been involved in all aspects of commercial real estatedevelopment, management and ownership for over 60 years and the General Partnerhas been a publicly traded real estate investment trust ("REIT") since 1994.The Operating Partnership conducts the business of providing leasing,management, acquisition, development, construction and tenant-related servicesfor its General Partner. The Operating Partnership, through its operatingdivisions and subsidiaries, including the Mack-Cali property-owning partnershipsand limited liability companies, is the entity through which all of the GeneralPartner's operations are conducted. Unless stated otherwise or the contextrequires, the "Company" refers to the General Partner and its subsidiaries,including the Operating Partnership and its subsidiaries.As of September 30, 2020, the Company owned or had interests in 59 properties(collectively, the "Properties"), consisting of 29 office properties, totalingapproximately 8.7 million square feet leased to approximately 225 commercialtenants, 22 multi-family rental properties containing 6,850 apartment units,four parking/retail properties, totaling approximately 108,000 square feet,three hotels containing 723 rooms and a parcel of land leased to a third party.The Properties are located in the Northeast, some with adjacent,Company-controlled developable land sites able to accommodate up toapproximately 2.0 million square feet of additional commercial space andapproximately 9,500 apartment units.The Company's historical strategy has been to focus its operations, acquisitionand development of office and multi-family rental properties inhigh-barrier-to-entry markets and sub-markets where it believes it is, or canbecome, a significant and preferred owner and operator. In September 2015, theCompany announced an initiative to transform into a more concentrated owner ofNew Jersey Hudson 65

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STRATEGIC DIRECTION

?the general economic climate;

?the occupancy rates of the Properties;

?rental rates on new or renewed leases;

?tenant improvement and leasing costs incurred to obtain and retain tenants;

?the extent of early lease terminations;

?the value of our office properties and the cash flow from the sale of suchproperties;

?operating expenses;

?anticipated acquisition and development costs for office and multi-familyrental properties and the revenues and earnings from these properties;

?cost of capital; and

?the extent of acquisitions, development and sales of real estate, including theexecution of the Company's current strategic initiative.

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The remaining portion of this Management's Discussion and Analysis of FinancialCondition and Results of Operations should help the reader understand our:

?recent transactions;

?critical accounting policies and estimates;

?results from operations for the three and nine months ended September 30, 2020,as compared to the three and nine months ended September 30, 2019, and

?liquidity and capital resources.

Properties Commencing Initial Operations

The following property commenced initial operations during the nine months endedSeptember 30, 2020 (dollars in thousands):

Development

(a)The Emery at Overlook Ridge property consists of a total of 326 multi-familyunits. Of this amount, the remaining 55 multi-family units were placed inservice in October 2020.

Consolidations

On March 12, 2020, the Company, acquired its equity partner's 80 percentinterest in Port Imperial North Retail L.L.C. a ground floor

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4,305

8,912

1,503

313

15,033

(a) In-place and below market lease values are being amortized over aweighted-average term of 7.5 years.

Real Estate Held for Sale/Discontinued Operations/Dispositions

The Company disposed of the following office properties during the nine monthsended September 30, 2020 (dollars in thousands):

Type Proceeds Value Losses, net Losses, net03/17/20One Bridge PlazaFort Lee, New Jersey 1 200,000

07/22/20 3 Giralda Farms (a) Madison, New Jersey 1 141,000

09/15/20Morris portfolio (b) Madison, New Jersey 10 1,448,420

(a) The Company recorded valuation allowances of $2.0 million on the held for sale

property during the nine months ended September 30, 2020 and of $16.7 million

during the year ended December 31, 2019.(b) The Company recorded valuation allowances of $21.6 million on the held for

sale properties during the nine months ended September 30, 2020 and of

$32.5 million during the year ended December 31, 2019.(c) The Company recorded a valuation allowance of $3.5 million on this property

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The Company disposed of the following developable land holdings during the ninemonths ended September 30, 2020 (dollars in thousands):

01/03/20Mile RoadMiddletown, New Jersey$ 7,018$ 2,969$ 4,049

Impairments on Properties Held and Used

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financial results. Judgments and uncertainties affecting the application ofthese policies and estimates may result in materially different amounts beingreported under different conditions and circumstances.

Rental Property

Properties are depreciated using the straight-line method over the estimateduseful lives of the assets. The estimated useful lives are as follows:

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Real Estate Held for Sale and Discontinued Operations

Investments in Unconsolidated Joint Ventures

If the venture subsequently makes distributions and the Company does not have animplied or actual commitment to support the operations of the venture, theCompany will not record a basis less than zero, rather such amounts will berecorded as equity in earnings of unconsolidated joint ventures.

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Revenue Recognition

Parking income is comprised of income from parking spaces leased to tenants andothers.

Hotel income includes all revenue generated from hotel properties.

Other income includes income from tenants for additional services arranged forby the Company and income from tenants for early lease terminations.

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Redeemable Noncontrolling Interests

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Change

Total revenues from rental operations 74,774 83,979 (9,205)

(15.5)

130.3

(98.4)

1,315.0

-

100.0

129.1

256.8

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Parking income. Parking income for the Same-Store Properties decreased$1.8 million, or 30.7 percent, for 2020 as compared to 2019, due primarily to adecrease in usage at commercial properties, due to the COVID-19 pandemic in2020.

Utilities. Utilities for the Same-Store Properties decreased $0.2 million, or4.5 percent, for 2020 as compared to 2019, due primarily to decreasedelectricity rates in 2020 as compared to 2019.

Real estate services revenue. Real estate services revenue (primarilyreimbursement of property personnel costs) decreased $0.5 million, or 15.7percent, for 2020 as compared to 2019, due primarily to decreased third partydevelopment and management activity in multi-family services in 2020, ascompared to 2019.

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compared to 2019.

Property impairments. In 2020, the Company recorded impairment charges of$36.6 million on its hotel properties in Weehawken, New Jersey.

Land and other impairments. In 2020, the Company recorded $1.3 million ofimpairments of developable land parcels. In 2019, the Company incurred avaluation impairment charge of $2.6 million on a developable land parcel. SeeNote 12: Disclosure of Fair Value of Assets and Liabilities.

Interest expense. Interest expense decreased $1.9 million, or 8.4 percent, for2020 as compared to 2019. This decrease was primarily the result of loweraverage interest rates in 2020 as compared to 2019.

Interest and other investment income. Interest and other investment incomedecreased $0.2 million, or 98.4 percent for 2020 as compared to 2019, dueprimarily to lower average notes receivable balances outstanding in 2020 ascompared to 2019.

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Total revenues from rental operations 223,733 253,478 (29,745)

(16.8)

44.7

(97.2)

68.1

(100.0)

(103.4)

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MACK CALI REALTY : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q) - marketscreener.com

A rendering of the beach-front townhomes and commercial space planned for Colonial Beach. (Courtesy of Dodson Development)

Two years ago, the town of Colonial Beach decided it wanted to start marketing itself as a tourist destination for Richmonders, Washingtonians and others around the Commonwealth.

The town, with its seasonal population of about 3,500 split between full- and part-time residents, is geographically positioned to do so, sitting on the Northern Neck and with beachfront land facing the Potomac River.

Last week, the town announced another step toward drawing in visitors with the help of Richmond developer Duke Dodson.

His Dodson Development bought 5 acres for $2.7 million, on which it is planning a multi-phase, mixed-use project thatll add townhomes, a hotel, office and retail space adjacent to Colonial Beachs Town Hall at 100 Wilder Ave. and 301 Douglas Ave.

While the four-phase project wont reach full completion until mid-2024, Dodson, who is president of the firm, said the project came together relatively quickly after he got word of it in mid-March.

It just got me really excited. I was looking at it for me and my family because we were looking for a river or lake destination. In Richmond, you have a couple of river or lake options but none stands out as obvious, Dodson said.

Colonial Beach is close to Richmond, D.C. and Fredericksburg, but it has a historic downtown and its a golf cart town. Based on a lot of factors, I feel like the times right for it.

The projects first phase would add 35 townhomes. (Courtesy of Dodson Development)

The projects first phase includes building 35 townhomes to start in the mid-$300,000s. The second phase calls for the renovation of three existing commercial spaces in Colonial Beachs downtown. Those will be followed by 36 waterfront condos along with 10,000 square feet of retail space. A boutique hotel will round out the project.

Dodson said he expects the total project cost to surpass $25 million. He said his family will personally own one of the townhomes and his Dodson Property Management will lease one of the office spaces thats being renovated.

As for retail, Dodson hopes to bring in what he describes as boardwalk-friendly tenants.

Well be marketing to places like coffee shops, ice cream shops, he said, noting that one of the commercial spaces being renovated is an old bank building that hes already shown to some breweries.

Richmond-based Fultz & Singh Architects is the projects architect, and local general contracting firms Vertical Builders and UrbanCore Construction will handle the build for different phases.

Itll be among Dodsons largest projects to date, and his first outside of Richmond, where hes developed a Gather-anchored project in the Arts District, and the former ARC building in Scotts Addition thats now home to Gelati Celesti, Potbelly Sandwich Shop and High Point Barbershop.

Ive never developed outside of Richmond because Ive always said I want to develop stuff that I can walk and see, Dodson said. Its pretty exciting. Well spend a lot of time out there in the summers in the coming years. It doesnt feel like a foreign market and Im getting more and more comfortable with it by the day.

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Dodson going big with $25M mixed-use development in Colonial Beach - RichmondBizSense

The TOPHOTELPROJECTS construction database shows that 2,126 new hotels will open across North, Central and South America, plus the Caribbean, in the coming years.

A total of 2,126 properties with 441,919 rooms are scheduled to go live throughout the Americas, according to our research, of which the lions share will be in the US. We find out more about whats coming up in this huge region.

The remainder of 2020 will see 377 hotels open in the Americas, bringing 72,271 extra rooms into play. 204 of these properties are already in the preopening phase.

In 2021, things will get especially busy with 808 openings slated to add 152,428 rooms to the market. Another 386 hotels with 87,378 rooms are due for completion in 2022, and 122 properties with 30,433 keys will open in 2023. For 2024 and beyond, 433 projects with 99,411 rooms are already in the pipeline.

Of these 2,126 openings, 1,519 will be first-class properties, while 607 will be in the luxury segment.

With 1,876 hotels in the pipeline, North America gets the lions share of the 2,126 properties logged by our researchers Latin America will see just 250 establishments open their doors.

In terms of countries, the US takes the lead with 1,526 hotels and 296,596 keys under development. Mexico comes in a distant second place with 132 projects and 32,829 keys in its pipeline, while Brazil completes the top three with 72 properties and 15,492 rooms.

Canada will grow its offering by 67 hotels with 10,671 rooms, followed by Argentina with 45 projects and 4,692 keys. Colombia isnt far behind with 35 planned launches set to bring 6,100 new rooms.

Despite having only 30 hotels in its pipeline, meanwhile, the Dominican Republic will see an impressive 21,928 new rooms hit the market soon. Chile comes next with 26 hotels and 4,173 keys, and Cuba and Peru conclude the list with 22 projects each and 5,525 and 3,584 keys respectively.

Unsurprisingly, all the cities that make our top ten are in the US. New York takes first place with 67 projects and 17,463 rooms under development, LA comes second with 51 hotels and 10,662 keys underway, and Atlanta completes the top three with 47 properties and 9,961 rooms.

Miami and Nashville are next in line with 36 and 33 projects each, followed by San Francisco and its 23 new hotels. Further down the list, Austin and Chicago have 22 and 21 properties in their respective pipelines, while Orlando, Denver and Indianapolis will all grow their hotel offering by 20 properties.

Hilton brands dominate the top of this list. Hampton by Hilton leads the pack with 66 projects and 8,189 rooms in its pipeline, whereas Home2 Suites by Hilton will expand its portfolio by 57 properties and 6,757 rooms. This growth shows that Hilton is placing bets on extended-stay properties gaining more traction over the coming years.

Hilton Garden Inn and Cambria Hotels will both open 43 properties, closely followed by Aloft, which will add 40 hotels to its network. Elsewhere, AC Hotels by Marriott has 38 projects in its pipeline, and Marriott Hotels & Resorts is right on its heels with 35 properties but nearly twice as many rooms.

Courtyard by Marriott, Hyatt Place and Fairfield Inn & Suites by Marriott will each open 34 new hotels.

In Las Vegas, Hilton is working on a triple-branded property that will provide a spectacular home for its Conrad, Hilton Hotels & Resorts and LXR flags. They will go live by mid-2021 and offer a total of 3,500 rooms, making it one of the largest hotels in the world with all the lifestyle and entertainment features guests expect from a hotel in Vegas. Facilities will include a 5,000-capacity state-of-the-art theatre, 32,500 sq m of meeting and convention space, a 20,000 sq m pool complex with seven unique pool experiences, a spa and fitness centre, and an extensive collection of casual and fine-dining F&B concepts.

Omni also has two noteworthy projects in the works. Omni Boston Hotel at the Seaport will have 1,055 rooms and suites and open by early 2021. And over in Fort Lauderdale, a new Omni property will feature 800 rooms when it opens by Q2 2023. Both properties will boast expansive meeting and convention facilities decked out with the latest technology to offer organisers maximum flexibility in creating memorable events.

Finally, the 17-storey Grand Hyatt Miami Beach will open by Q3 2023 and offer 800 rooms with splendid views of Miami Beach. Other facilities will include two floors of meeting spaces and ballrooms that will complement the convention centre next door, a resort-style pool deck with panoramic views and retail spaces. In addition, an eye-catching elevated skybridge will allow event attendees to move freely between the hotel and the convention centre in a climate-controlled, art-filled corridor.

Excerpt from:
Region overview: Over 2,000 new hotels to go live in the Americas [Construction Report] - TOPHOTELNEWS

There is not a firm completion date for the Hampton Inn Hotel on Harrison Avenue in Green Township.(Photo: Segann March/ Cincinnati Enquirer)

Noticedexcavatorson Harrison Avenue in Green Township?

It's site construction activities for both Buffalo Wild Wings andHampton Inn Hotel have begun. Both projects were tagged as "projects to watch" by the township for 2020.

Adam Goetzman, assistant Green Township administrator, said there are no firm completion dates for either project; however, they are expected to fall in the same timeline.

Buffalo Wild Wings will be located next to the Kroger Marketplace on Harrison Avenue.(Photo: Segann March/ Cincinnati Enquirer)

An office or retail space will be attached to BW3, according to the proposal. The proposal also includesan outdoor seating area, a 263-space parking lot, and a permanent greet space with a retention pond.

BW3 is located next to the Kroger Marketplace on Harrison Avenue.

The Hampton Inn Hotel will be located at 6336 Harrison Avenue. The 96-room hotel includes a 6,200 square foot, one-story commercial building and lot.

Green Township Trustee Tony Rosiello told The Enquirer last year that finding the right location was a challenge for developers, but the location they selected is centrally located and near the township's otherhotel, the Holiday Inn Express on Rybolt Road.

He said the hotel can help residents house out-of-town guests for holidays, serve medical and corporate visitors as well as host people in town for weddings or other events.

Rosiello said the hotel could also generate additionalrestaurants and retail developmentalong the Harrison Road corridor.

Read or Share this story: https://www.cincinnati.com/story/news/2020/10/22/work-underway-green-township-anticipated-westside-developments-harrison-avenue/5994015002/

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Work on two anticipated Westside developments finally gets moving - The Cincinnati Enquirer

Town planners have approved a new workforce housing development that will bring nearly 240 condominiums to Bedford.

Sebbins Brook Crossing was unanimously approved by the Bedford Planning Board last week. The project includes three four-story buildings across from Iron Horse Drive on a 25-acre parcel abutting South River Road. A separate clubhouse with pool also will be constructed.

This is a site that we believe will be attractive to the people that would be the buyers of these condominium units, said Mark Woglom of Opechee Corp., the design and construction management firm representing the applicants, Circle Drive Associates.

The first phase of the development includes two four-story workforce housing apartment buildings with 71 units each, as well as one four-story senior housing building with 96 units for ages 55 and up. The apartment buildings will operate under a condominium association form of ownership.

It does achieve workforce housing in a desirable location, which is an important component, Woglom said. We have really worked hard to come up with buildings that minimize the impact on the site.

Although local zoning restricts workforce housing to no more than 12 units per building in the performance zone where this parcel sits, waivers were granted by the planning board to permit the Sebbins Brook Crossing project.

According to Becky Hebert, Bedfords planning director, 25% of the units will be workforce housing units and the rest will be market rate. Unlike other residential projects the planning board has considered in recent years, this one received little opposition from local residents.

No one spoke out against the project last week when it was reviewed by the planning board, which granted several waivers to allow the multifamily residential buildings along South River Road.

Last month, the planning board denied a separate project for 200 luxury apartments and a movie theater at the Market and Main complex along South River Road. In that case, the planning board rejected a waiver seeking multifamily residential use within the towns performance zone.

The Market and Main project involved proposed rental units above retail space and did not include any workforce housing component.

Our goal is to sell these, Woglom said of the condominium units at Sebbins Brook Crossing. A second phase of the development, which has not yet been introduced to town planners, includes a proposed commercial aspect for the Sebbins Brook Crossing complex.

What makes you think that commercial is going to be successful in the front of the property? asked Stephen Clough, planning board member.

The commercial component will be considered on a much smaller scale, according to Woglom, who said a small office building or medical building could be ideal for the few acres of land left for development there.

The land represents one of the largest remaining undeveloped parcels in Bedfords performance zone, according to town planners. The site was previously approved for various projects, including a funeral home, retail development and warehouse and manufacturing building. None of those plans came to fruition.

Previously, a citizen petition opposing the construction of any additional apartments in Bedford was created. Also, several zoning changes were approved at the polls last year, including granting permission for workforce housing developments in the performance zone but prohibiting workforce housing in the commercial and office districts in Bedford.

The new condominiums will be energy-efficient and offer electric doors at all entrances and exits, as well as radio frequency identification sensors at the elevators so that residents do not have to touch any door handles or buttons in light of COVID-19 concerns, Woglom said earlier.

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240-unit condo complex approved in Bedford | Homes & Garden - The Union Leader

Developers of Friscos $1 billion Gate mixed-use project are starting work on its next phase.

The 49-acre Gate development is on the Dallas North Tollway just north of the Dallas Cowboys' Star development in Frisco. The Gate is a project of Dubai-based Invest Group Overseas.

The next phase of the development is The Shops at The Gate, a two-building retail center on the west side of the tollway. The shopping center will have more than 16,000 square feet of restaurant and retail space.

Despite the unkind economic conditions in the market due to the COVID-19-related challenges, we at Invest Group Overseas believe the situation will get better sooner than anticipated, which has enabled us to adapt to changing market conditions to drive results, managing partner and CEO Anas Kozbari said in an email. "The economy is recuperating, and Frisco, Texas, is the hub of this economic recovery.

This is the driving force behind our decision to move forward with the development and construction of The Shops at The Gate, which is a commercial shopping center that shall serve the Gate community as well as the neighboring areas.

Conduit Architecture + Design is the architect for the project, and MSF Contracting Group LLC is the contractor.

The developer said a luxury Colombian seafood restaurant has already signed a lease for a corner spot in one of the buildings.

Invest Group Overseas announced The Gate in 2014 with plans for over 2.3 million square feet of construction.

The project is part of what Frisco used to call its $5 billion mile of developments.

I want to assure our partners that we are working diligently for the completion of the Gate project, Kozbari said. It is not a secret to say that we have new additional construction at The Gate soon and the construction shall be completed by the end of May 2021.

San Antonio-based developer Embrey Partners and Irving-based apartment builder JPI have developed rental communities in The Gate.

Dallas-based JMJ Development has announced plans for a 28-story tower in The Gate that will include 225 luxury hotel rooms and 150 condo units at the corner of Hickman Parkway and the tollway.

The Gate also has sites for office development.

See more here:
Shopping center on the way at $1 billion Gate project in Frisco - The Dallas Morning News

CAMBRIDGE, Mass.--(BUSINESS WIRE)--WoHo (World Home), a technology company that transforms the way spaces are conceived and created, today announced it has raised $4.5 million in seed funding. The company integrates architecture, engineering and construction into a single, streamlined platform to quickly design and construct high quality buildings.

The investment round was led by The Engine, the venture firm spun out of MIT that invests in early-stage Tough Tech companies that are solving the worlds most urgent problems, such as addressing the housing affordability and shortage crisis, through the convergence of breakthrough science, engineering, and leadership.

WoHos systems are made up of a series of discrete foundational components which can be scaled and configured to span residential and commercial buildings such as multifamily housing, hotels, dormitories, labs and offices. These components are optimized for fabrication, transportation, assembly and operation. WoHos systems reinvent reinforced concrete technology and building performance, serving as competitive solutions for low-to-high-rise construction.

While modular construction has existed for decades it has suffered from an association with low-end, low-quality materials. Its lack of momentum can be attributed to segmented supply chains for materials sourcing and transportation, said Israel Ruiz co-founder and CEO of WoHo. Creating a single, standardized platform for design, manufacture and construction will disrupt home and multi-use buildings, as developers and suppliers can more quickly and efficiently meet sustainability standards to address affordability and the housing shortage.

WoHo also announced a partnership with LafargeHolcim in the United States, which shares a commitment to push the boundaries of green construction. We look forward to partnering with WoHo as we work to develop innovative and environmentally friendly products for this application, said Josep Maset, VP, US Commercial Development for LafargeHolcim.

According to a McKinsey report, by 2030 nearly $130B will be spent on modular home construction in the U.S. and Europe yet theres a backlog of supply in regions with labor shortages or high variability in onsite construction conditions due to weather seasonality. WoHo expects to lower the costs of construction by more than 20%, shrink project delivery time by 50%, and reduce the ecological footprint of buildings by 70%, all while improving project predictability and construction quality.

WoHo plans to build lean, modular factories that balance automation and handwork close to construction hubs, simplifying the logistics, lowering the costs, and reducing the environmental footprint of its buildings. The factories will produce WoHo components with span widths ranging from 16 to 20 ft that can be connected or separated three-dimensionally based on specific project needs. These components assemble into a structural grid, particularly suited for residential and other compatible retail, lab or parking uses.

WoHos founding team is cross-disciplinary, led by Israel Ruiz, an engineer and former EVP and Treasurer of MIT and renowned architects Anton Garcia-Abril, a professor of the School of Architecture at MIT and his co-founder of Ensamble Studio, Debora Mesa, who is the Ventulett Chair in Architectural Design at Georgia Tech. Garcia-Abril and Mesa have worked over the last two decades to prototype and test the approach and partnered with Ruiz, who they met at MIT in 2012, to form WoHo with the goal of reimagining the way buildings are designed and made.

WoHo is pioneering construction through technology, said Katie Rae, CEO & Managing Partner of The Engine. The ability to design, build and manufacture living and working spaces to be shipped and assembled quickly at a construction site provides more control, less waste and quicker time from design to occupancy. In some areas where housing prices and demands outpace the ability to meet them, this technology will shorten the gap.

WoHo is conducting its first pilot at WoHo Lab in Madrid and plans to build one in Boston in early 2021. WoHo is headquartered at The Engine and WoHo Lab functions as the companys research and development, IP and design operations for its modular factories. This seed capital will be used to build out U.S. manufacturing, further partner pilots, broaden the team and help the company scale.

About WoHo

WoHo (World Home) is transforming the way spaces are conceived and created, enabling a new way to build. WoHos systems construct low-to-high-rise structures with unprecedented quality, precision and efficiency. By integrating design, manufacturing and assembly, our systems allow for quality and collaboration at scale, with maximum efficiency. Find WoHo online at: http://woho.us/

About The Engine

Launched by MIT in 2016, The Engine is a Cambridge, MA-based venture capital firm that invests in early-stage Tough Tech companies. It provides the long-term capital, knowledge, connections, as well as the specialized equipment, space, and labs these transformative startups need to thrive. For more information, visit http://www.engine.xyz

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WoHo Raises $4.5 Million in Seed Funding, led by The Engine, to Transform the Design and Construction of Resilient Living and Working Spaces -...

WoHo co-founders Israel Ruiz, Debora Mesa and Anton Garcia-Abril.

A technology company that produces environmentally friendly, cost-effective building components has raised $4.5M in seed funding from a venture firm launched by the Massachusetts Institute of Technology.

Cambridge, Massachusetts-based WoHo, or World Home," claims its materials can lower construction costs by 20% and cut project delivery time in half for a multitude of uses. Co-founded by former MIT Treasurer Israel Ruiz, WoHo raised funds through MITs venture capital firm The Engine, the companies announced Thursday.

WoHos offerings can be assembled into structural grids for residential, retail, lab or parking uses, and WoHo claims its materials reduce a sites ecological footprint by 70%. Among its offerings are"Suites," spanning 16-20 feet geared toward residential and commercial use, and column-free "Tower" components spanning 32-64 feet for mid-rise projects, the company says.

MIT School of Architecture professor Anton Garcia-Abril and Georgia Tech Ventulett Chair in Architectural Design Debora Mesa worked over the last two decades to develop the environmentally conscious system and formed WoHo with Ruiz, who they met in 2012.

Ruiz, a former co-chair of MITs building committee, told Bisnow Thursday WoHos technology works well in cities where space is scarce, but said the easier-to-handle materials are well-suited for the suburbs, such as those near WoHos headquarters at The Engine at MIT.

You think about the Boston area, you think Somerville, inside the [Interstate-495] ring, Ruiz said. Its the perfect technology to do that at the mid-rise level. We can be competitive at low-rise as well.

WoHo, which also announced a U.S. partnership with Swiss building materials multinational LafargeHolcim, will conduct its first pilot at a lab in Madrid and pledges to build a production facility in Boston in 2021.

The rest is here:
MIT's Former Construction Head Launches Green Building Startup With $4.5M Seed Raise - Bisnow

CASSVILLE, Mo.--(BUSINESS WIRE)--Midwest Retail Properties (MRP) is excited to announce a 10-year lease with Westco Home Furnishings Co. for 13,325 square feet in Cassville, MO. Westco Home Furnishings is a well-established regional furniture retailer with 12 Missouri, Kansas, and Oklahoma locations. MRP owns and manages Cassville Plaza, a Walmart-Anchored retail center with national credit tenants, Tractor Supply and Dollar Tree, in Cassville, Missouri. Westco Home Furnishings is relocating from its current location on 8th Street to Cassville Plaza.

MRPs construction administrator, Tom Heintz, is working with the team at Westco to manage the retailer's build-out. Westco hopes to be open for business in February 2021 at their new location.

Westco Home Furnishings was founded by Mr. Dail West in 1944. The first small store was located on Main Street in Miami, Oklahoma and was known as Miami Sales Company. Furniture was added in 1955 with the opening of Commerce Sales Company in Commerce, Oklahoma. Westco has continued to grow over the years and now has stores in Oklahoma, Kansas, and Missouri. Additional information can be found at westcohomefurnishings.com.

Midwest Retail Properties is a St. Louis-based private equity real estate firm that owns and manages Walmart-Anchored Shadow Centers in secondary and tertiary locations nationwide. MRPs current portfolio is comprised of over 1 million square feet of retail space across 15 states. Additional information can be found at http://www.mrpstl.com.

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Midwest Retail Properties Signs 10-Year Lease With Regional Furniture Chain for 13325 sf - Business Wire