For decades, Melnea Cass Boulevard in Roxbury has been no more than a high-traffic passageway to other parts of Boston.

But under new plans approved by Boston regulators, Melnea Cass is due for a dramatic change that will result in new shops and restaurants, a supermarket, a hotel, and dozens of homes.

Two teams of developers have been given the green light by City Hall to build a mixed-use community on vacant land on both sides of the boulevard between Washington Street and Shawmut Avenue. Their projects will form a new gateway to Dudley Square, which in recent years has also attracted a burst of redevelopment activity.

We are ecstatic that were starting to see some forward movement on these vacant parcels, said Darnell Williams, chairman of a Roxbury planning committee that has spent years trying to spur an economic revitalization in the area. We want it to be comparable to the retail and housing options in the other parts of Boston.

The two sites to be redeveloped, known as parcels 9 and 10, have been largely vacant since the 1960s, when they were cleared for a planned extension of Interstate 95 that was never built.

The Boston Redevelopment Authority initiated a process to redevelop them several years ago and earlier this month awarded building rights to Urbanica Design + Development and Madison-Tropical LLC, a partnership of Madison Park Development Corp. and the Tropical Foods supermarket.

Urbanica will build a $63 million complex on parcel 9 that will include a 150-room hotel, a two-story commercial and community building, and a five-story residential and retail structure.

The hotel will sit adjacent to Ramsey Park, and it will have ground-floor community spaces that link to the parks baseball fields.

The project will include 52 homes, with eight to be designated affordable. An executive with Urbanica said the firm wants to open at least one restaurant as well as a music club on the 1.3-acre property.

The neighborhood needs activities that strengthen the culture thats already there, said Kamran Zahedi, principal at Urbanica. Were not trying to bring the South End to Roxbury. Roxbury is going to take its own shape based on its landscape and demography.

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2 projects to revitalize Roxbury boulevard

Readmore: Local, State, News, Construction, Steak and Sundae, James Street, Syracuse, City, Eastwood, Buildings, Work, New, Old

SYRACUSE -- There could soon be new life for an old crumbling building in Syracuse's Eastwood neighborhood.

For the past few days, construction crews have been working on the old Steak and Sundae building on the corner of Midler Avenue and James Street. CNY Central has learned the city planning commission has approved most of the plans for the site. The developer has long wanted to transform the old building into new space for new businesses. It appears crews were working on the roof on Friday.

People who live nearby say they are hoping this is a sign of progress for the neighborhood. "I'm happy to see it go if they do something good with it," said Maxine Williams wholives in Eastwood. "They could do a lot of things with this building."

"I hope they build something that looks decent," said Aaron Wheeler who lives in Eastwood. "Right now it looks bad."

A few blocks down the street, the plot of land next to the Walgreens on James Street is also under construction. A sign posted on the fence says it will be completed retail space in the fall.

"I'm hoping they are going to open up new businesses and new jobs for people," said Flora Azemi.

What do you think of the construction in Eastwood?

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Construction could build new life for crumbling buildings in Eastwood

OTTAWA, May 25, 2012 /CNW Telbec/ - Ivanho Cambridge announced today a $200-million investment in Bayshore Shopping Centre, boosting the centre's retail area by 160,000 square feet (14,900m2). Slated for completion in 2015, this major redevelopment and expansion project begins immediately. The additional retail space will allow the centre to introduce highly desirable retailers into the Ottawa market.

"This investment reflects our strategic plan to invest in our properties in order to provide an exceptional shopping experience for consumers and an optimal place of business for our retailers," said Kim McInnes, President, Global Operations, Ivanho Cambridge.

The centre, managed by Ivanho Cambridge and co-owned with KingSett Capital, will remain open during the phased construction. The modern makeover includes moving and expanding the food court and nearly tripling its seating area, as well as increasing parking space by 10 percent. The bulk of the expansion will be on the northern side of the property, in place of the existing parking tower.

"The project is well-timed because the Ottawa market has grown substantially over the past few years," noted George Fiddler, Senior Vice President, Retail, Central North America, Ivanho Cambridge. "Ivanho Cambridge and KingSett Capital are proud to partner in this investment which will seal Bayshore Shopping Centre's position as the preferred shopping destination for Ottawa and the surrounding areas," he added.

Ottawa Mayor Jim Watson commented: "Bayshore is a commercial cornerstone for not only the community, but the entire west end of the city. These improvements will generate significant economic benefits and ensure that Bayshore Shopping Centre can continue to be a strong partner to the community."

Mayor Watson and Bay Ward Councillor Mark Taylor joined Ottawa West-Nepean MPP and Ontario Minister of Transportation and Infrastructure Bob Chiarelli for the official launch of the redevelopment - one of the largest projects of its kind in Ottawa history. "Expanding Bayshore Shopping Centre will create over 400 new, permanent jobs, right here in Ottawa West-Nepean," said Mr. Chiarelli. "The shopping centre's commitment to enhance our farmers' market and strengthen its partnership with the Pinecrest-Queensway Community Health Centre's employment program will also benefit local families."

Bayshore Shopping Centre has been working closely with the provincial and municipal governments, and local community partners, to ensure the success of this redevelopment project. Construction vehicles will be re-routed to mitigate congestion on local streets, and transportation initiatives will be introduced during peak shopping periods.

"Area residents are looking forward to seeing their neighbourhood shopping centre grow into one of the more impressive centres in the country," said Councillor Taylor. "Bayshore Shopping Centre is an incredible community partner and I am very pleased to be on hand for the groundbreaking of this project."

About Bayshore Shopping Centre

Bayshore Shopping Centre is Ottawa's premier shopping destination thanks to its strong tenant mix and ideal geographic location. Situated in the western portion of the Ottawa-Gatineau metropolitan area, it boasts 165 retailers such as Bath & Body Works, Banana Republic, Aries and Jack & Jones, in addition to several anchor stores, including The Bay, Sports Experts and Old Navy. It is also the only shopping centre in Ottawa where both Winners and HomeSense can be found under one roof. Bayshore is visited by over 7 million customers per year.

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Bayshore Shopping Centre embarks on $200-million renovation and expansion project

CoStar Forecast Predicts A Couple More Years Of Flat Absorption As Supply of Shopping Center Space Remains In Sync With Demand

However, the expected moderate demand for shopping center space should stay in check with the very low levels of new supply expected over the next couple of years, according to the report presented by Senior Real Estate Strategist Suzanne Mulvee and Real Estate Economist Ryan McCullough.

"Its been a long slog for the last couple of years, but the retail market is getting healthier from a fundamentals standpoint," McCullough said in a recent presentation. "Were not seeing a lot of dynamic demand and absorption in retail today, but were also not seeing the [development] that got out of hand during the last cycle."

The modest absorption figures mask the deeper story of a retail market divided into haves and have-nots. With little new retail space under construction, centers blessed with strong demographics in constrained urban areas are likely to lease up quickly, while properties in less desirable areas will experience difficulty filling their vacancy holes, McCullough said.

Theres hope that the recovery is broadening, however, with retail chains starting to shed their aversion to risk and look beyond the safest areas in hopes of getting ahead of the growth curve over the last year in western and southern metros, where housing bust markets such as Phoenix, Las Vegas and South Florida are again showing signs of life.

The U.S. retail market recorded about 10 million square feet of absorption in the first quarter, a low level compared with the same point in past recoveries, especially given the limited new supply and strong rebound in retail sales over the last two years, McCullough said.

One reason for the modest absorption in recent quarters is that demand has slackened for space in power centers, by far the strongest sector in retail emerging from the Great Recession. While malls, strip centers, community centers and neighborhood shopping centers have consistent trailed power center, traditional anchors like Kmart and Best Buy are repositioning their stores in light of rising competition from Internet sales and other changes in buying patterns.

CoStar forecasts that power center demand will remain flat for 2012 as store closures and downsizings by some retailers partially offset the growing number of store chains that are aggressively expanding their footprints. Chains such as Kmart, Best Buy and OfficeMax are returning an estimated several million square feet of store space to the market through closures in 2012.

Many other leading chains, however, such as Wal-Mart, Dicks Sporting Goods, Target and Burlington Coat Factory, are aggressively leasing up space to take advantage of attractive rents at the trough of the market. Larger stores like Best Buy are shrinking their footprints to fit urban infill centers, while other fast-growing chains like Ross, Marshalls and Burkes Outlet take advantage of the lower rents to expand into larger spaces.

Another trend in recent years has been the emergence of outlet centers as a rival to regional malls. Even as vacancies in outlets have trended higher than either malls or power centers since mid-2010, however, publicly traded and private operators continue to compete for a share in the outlet space, headed by the worlds largest mall operator, Simon Property Group (NYSE: SPG).

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Retailers Cautiously Eyeing Expansion Into More U.S. Markets as Shopping Activity Rises

FOREST --

One of Bedford Countys most popular residential neighborhoods plans to add a retail shopping center fronting U.S. 221 in Forest.

Maddox & Son Construction Inc. seeks to rezone two parcels to allow for a shopping center in front of the Gables of Jefferson Commons, a nine-building apartment complex with 216 units that have mostly filled since construction began a few years ago.

Andy Maddox, the companys president, wants to change the zoning from C-1, office district, to a C-2 general commercial district so two-story buildings could be built facing U.S. 221 on opposite sides of the entrance to the complex. The buildings would have retail space on the first floor and apartments on the second and would be the first housing in Forest to locate atop retail commercial space.

The countys department of community development on Wednesday hosted a neighborhood information meeting on the rezoning at the Forest Public Library. Besides Maddox and the project engineer, only one adjacent property owner and Forest District planning commission member Fred Fralick attended.

Maddox, whose company also constructed similar Gables projects in Wyndhurst and Cornerstone in Lynchburg, said a couple of restaurants are interested in locating to the proposed shopping center. He said he has sent information to other chains but no announcements are ready at this time. He added he wants to attract anchors to the area.

He envisions 20 units of loft style apartments between the two buildings that would be mostly single-bedroom. The residential portion of the project would allow for more patience with the commercial aspect.

Our intentions are not to compromise our property behind, he said, referring to the Gables complex. We want to be selective.

The exact square-footage of the buildings was not stated Wednesday, but Maddox said the land allows for about 25,000-square-feet of space combined.

Maddox said he hears from businesses that they want to locate to Forest but do not want to go as far as Perrowville Road. Current zoning of the parcels is very limited to office uses, county planner Brad Robinson said.

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Forest retail center planned for U.S. 221 complex

LAS VEGAS--(BUSINESS WIRE)--

Fueled by luxury retailers and discount retailers such as dollar stores, the retail real estate sector is poised to experience increased leasing and improving fundamentals in the second half of 2012.

Thats the take of Hartman Simons, an Atlanta-based national commercial real estate law firm that represents both tenants and landlords in retail leases as well as developers in retail developments. The firms attorneys provided their analysis of the sector as the 2012 ICSC RECon convention got underway in Las Vegas. The convention runs from May 20 through May 23.

The amount of leasing activity were involved in is 10 times what it was a year ago, said Peter Hartman, a partner with the firm. Of course, its all relative. Its not yet close to where it was in 2006 or 07.

Retail real estate is certainly healthier and moving in the right direction, Hartman said. There have been fits and starts, but overall the entire sector from our perspective is greatly improved.

The return of some large and important retailers such as Target to new developments and the growth of discount retailers like Dollar General are two of the trends fueling the sectors increased development and leasing activity, according to Hartman. The firm has recently represented developers in the development of Target-anchored centers in the Southeast.

As for store performance, luxury and discount retailers are thriving, Hartman said. Its the mid-level space that seems to be pretty flat, he added.

Retail developers have grown selectively aggressive in pursuing new opportunities in part because financing has become easier to obtain, Hartman said. And those new opportunities usually incorporate residential and sometimes office uses, he said.

Hartman Simons is representing North American Properties in its development of Avalon, a $600 million, mixed-use project in suburban Atlanta.

About Hartman Simons

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Retail Real Estate Set for Rebound

Last Updated: May 21, 2012 04:12pm ET

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Trademark will work with Victory Park owners to reposition the CRE project's retail component.

DALLAS-Victory Park UST Joint Venture I LP has partnered with Fort Worth-based Trademark Property Co. to freshen up the retail component of the 75-acre, mixed-use Victory Park. VPUST owner Estein & Associates USA Ltd. tapped Trademark to plan and execute the repositioning and redevelopment of its retail holdings in the southern district of Victory Park, located at the edge of Dallas' CBD.

As part of the plan, Trademark will develop and implement a merchandising and leasing strategy for the ground floor retail space and undeveloped land along Victory Park Lane, and the ground floor retail space in The Cirque and One Victory Park. Trademark will also identify and attract key destination retail, restaurant and entertainment tenants to Victory Park that fit the leasing strategy.

Estein & Associates affiliates manage the German real estate investment fund that took over the stake of Victory Park developer Hillwood in 2009. Since becoming sole owner of VPUST and the Victory Park buildings in 2009, we have been working closely with key stakeholders including the City of Dallas, the local retail community, and our other tenants and operators in the district to plan the future of Victory Park and how best to move it forward, said Lance Fair, COO of Orlando, FL-based Estein & Associates and vice president of Victory Park in a press release.

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Victory Park Owner Partners with Trademark for Retail Reposition

By Kelvin Wong - 2012-05-21T16:01:00Z

Pedestrians walk past advertising billboards for watches and jewelry in Russell Street in the shopping district of Causeway Bay in Hong Kong, China.

Pedestrians walk past advertising billboards for watches and jewelry in Russell Street in the shopping district of Causeway Bay in Hong Kong, China. Photographer: Jerome Favre/Bloomberg

Wharf, which runs the 1 million-square-foot Times Square shopping mall opposite Soundwill Plaza, has gained 106 percent since early 2009.

Wharf, which runs the 1 million-square-foot Times Square shopping mall opposite Soundwill Plaza, has gained 106 percent since early 2009. Photographer: Jerome Favre/Bloomberg

The logo of a Hennes & Mauritz AB store is reflected on the hood of a vehicle on Queen's Road in Central district in Hong Kong, China.

The logo of a Hennes & Mauritz AB store is reflected on the hood of a vehicle on Queen's Road in Central district in Hong Kong, China. Photographer: Jerome Favre/Bloomberg

Rent from Soundwill Plaza -- whose ground-floor tenants include watch-sellers Omega and Tag Heuer, and crystal-ornament maker Swarovski, while on the upper floors are high-end spa salons and a yoga studio -- accounted for a quarter of the companys earnings in 2011, said Victor Chan.

Rent from Soundwill Plaza -- whose ground-floor tenants include watch-sellers Omega and Tag Heuer, and crystal-ornament maker Swarovski, while on the upper floors are high-end spa salons and a yoga studio -- accounted for a quarter of the companys earnings in 2011, said Victor Chan. Photographer: Jerome Favre/Bloomberg

Construction work takes place at Hysan Development Co.'s Hysan Place in the shopping district of Causeway Bay in Hong Kong, China. Hysan Development Co., the biggest landlord in Causeway Bay, has risen 168 percent in the period.

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Gucci-Crazy Chinese Fuel Soaring Shop Rents in Hong Kong

New speculative retail construction has been virtually nonexistent in the market for the last five years.

It has been too risky.

Developers by and large have shied away from breaking ground on new projects without confirmed tenants, especially when so many retail companies have dramatically slowed or even halted expansion plans.

Instead, national retailers and restaurants that have been expanding have done so in free-standing buildings specifically constructed to match others in their chains.

Think Dollar General and Cheddar's Casual Cafe.

Or, new local businesses have taken advantage of existing, immediately available, and often-discounted space at commercial plazas. There still seems to be plenty of available storefronts.

But Holladay Properties, of South Bend, has taken a leap of faith, so to speak.

It is among the first area developers to construct a completely speculative retail building in quite some time. The building is located immediately south of Heritage Square in Mishawaka.

Holladay doesn't have any signed leases for the 10,000-square-foot building that will expand the Martin's-anchored shopping center near Cleveland and Gumwood roads.

But that does not scare Holladay, or Garrison Investments of New York, the joint owner of the Mishawaka center. Holladay is responsible for leasing, property, construction and asset management.

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Market Basket:New building constructed before tenants are signed

LOS ANGELES--(BUSINESS WIRE)--

Development of the long-vacant two-acre property at the southeast corner of Wilshire Boulevard and Vermont Avenue will begin this week with the groundbreaking of The Vermont, a 464-unit high-rise apartment complex with retail space and dedicated public open space along Wilshire Boulevard. The project is the largest residential development to be built in Los Angeles since the beginning of the latest real estate downturn.

The partnership of Jerome Snyder, Michael Wise and Lew Geyser comprises the backbone of the J.H. Snyder Development Company. Having long believed in this location and the project, they have persisted through the last two years of challenges and hurdles to entitle the project, assemble a nearly $200 million capital stack and now to pull their building permit and proceed to construction.

Given the economic challenges of the past several years, we are thrilled to begin construction on a mixed-use community of this scale and quality, said Jerry Snyder, Senior Partner at J.H. Snyder Company. This is a significant investment that will transform the long vacant two-acre dirt lot into the new heart of one of LAs most energetic neighborhoods. It feels great to move a significant, job-creating project forward at a time when new construction activity of this scale is rare.

Washington Capital Management, which manages investments for union pension funds in Washington State, is the lead equity investor in the $200 million project. Snyder, one of Southern Californias most prolific residential and retail builders, also infused equity into the project. At the end of 2011, JP Morgan closed on a construction loan and Bentall Kennedy closed on a mezzanine loan, clearing the way for the development team to break ground on the project.

We are excited to see The Vermont move forward, especially in light of the difficult lending environment we face today, said Kacy Keys, Senior Vice President and General Counsel at J.H. Snyder Company. It took a very complex financial structure, the ongoing support of Councilman Herb Wesson and the backing of our great partners Washington Capital Management, JP Morgan and Bentall Kennedy to make The Vermont a reality. Their willingness to be a part of The Vermont through the ups and downs of the past year speaks to the quality of this project and the confidence they all have in J.H. Snyder as a developer.

The development team plans to begin construction this week, with an estimated completion date in 2014. When complete, the LEED-certified project will be comprised of a mix of residential, retail and recreational uses. Features will include two high-rise towers surrounding a quarter-acre central courtyard; approximately 40,000 square feet for ground floor retailers including restaurants, a grocer, bank, dry cleaner and coffee house; as well as public underground parking. Residents of The Vermont will also have access to a full-service concierge, shared lounge-style workspace, a pool, high-end gym and spa exclusively for their use.

There is a strong and growing need for high-quality apartment homes and retail in the Mid-Wilshire area, and we hope to be able to meet some of that pent up demand with The Vermont, said Michael Wise, Senior Partner, J.H. Snyder Company. This project has been a long time coming, so we are excited to be moving to the next stage in the development process and to be that much closer to injecting new life into this already vibrant community.

The groundbreaking comes a year after the Los Angeles City Council and Community Redevelopment Committee voted unanimously to approve The Vermont, praising the project teams outstanding effort to incorporate the local community into the planning process and deliver a generous community benefits package.

The investment is expected to create more than 1,800 union construction jobs at a time when the industry is hurting. As part of the project build-out, J.H. Snyder Company will make a $1 million contribution to help fund a community center in the area and contribute efforts towards the creation of 96 affordable housing units elsewhere in Koreatown. The firm has partnered with Korean Churches for Community Development and AMCAL housing to begin identifying sites for affordable housing. The Vermont will also feature 77 non-reserved public parking spaces in the garage as well as 12,000 square feet of public open space along Wilshire Boulevard.

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J.H. Snyder Company Breaks Ground on The Vermont, a $200 Million Mixed-Use Destination in Mid-Wilshire District