Construction of The Ascent at Top of the Hill, a US $80m mixed-use, luxury residential apartment development at the gateway to Cleveland Heights has begun. The Top of the Hill project is located at a four-acre parcel the junction of Cedar Road and Euclid Heights Boulevard.

The project is the biggest mixed-use residential project in Cleveland Heights and will feature some of the best amenities offered in the greater Cleveland metropolitan area. The project consists of 261 luxury market rate apartment homes and 11,000 square feet of commercial retail space and a 500-space parking garage.

Comprised of studios, one and two-bedroom apartment homes and select premium three-bedroom penthouses, The Ascent will be authentic to the areas rich heritage by stitching together the iconic and modern and the historic.

Residents will enjoy a variety of amenities including a rooftop amenity area featuring a rooftop pool, rooftop lounge including two grills and firepit. The project is designed to include two distinct co-working spaces, one an indoor co-working lounge, the other an outdoor co-working patio space.

A quarter-acre public green space is designed as a small public park, with opportunity for public art, outdoor recreation and leisure. The park also provides pedestrian access to the public garage.

Also Read: US 2.3bn One Madison Avenue project to be developed in Manhattan, US

Additionally, the project features a bark park and dog spa, fitness center featuring workouts on demand, bike storage area with bike wash and repair station and an additional courtyard space with grill and outdoor kitchen. Residents will have access to private garage parking and parcel delivery system, and a pedestrian bridge connecting the buildings will provide weather protection, move-in staging rooms and a guest suite.

The Ascent at Top of the Hill will be focused on custom service to their residents, featuring morning coffee service and other hotel-like amenities. Apartments will include modern finishes, LED lighting, washer/dryer, stainless steel appliances, quartz countertops, secure fob building and unit access and most apartments include private balconies.

In addition to the public private partnership with the City of Cleveland Heights, Goldman Sachs Private Bank provided a US $52.6m construction loan to the project.

Construction immediately began this week following financial closing. It is the second Flaherty & Collins Properties development to close in the past 30 days, following 4th & Race in downtown Cincinnati. The firm anticipates closing several more projects in the coming months.

According to David Flaherty, CEO of Flaherty & Collins Properties, it is great to see so many cities investing in economic development, especially at this critical time. Residential and mixed-use projects no doubt creates jobs, boost the economic impact and make robust and thriving neighborhoods.

The Ascent at Top of the Hill, at 460,056 square feet, is anticipated to be completed by the Spring of 2022.

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Construction of The Ascent at Top of the Hill project in Cleveland Heights, Ohio, US begins - Construction Review

Manhattan, NY The Tri-State Investment Sales Group for Avison Young has arranged the $28.712 million sale of a retail condominium unit located at 1683 Third Ave. on behalf of the propertys ownership, a partnership headed by Extell Development Co., the propertys developer. The asset is located within the Yorkville submarket of the Upper East Side and situated at the base of The Kent, a newly constructed, 30-story condominium building on the corner of Third Ave. and 95th St.

An Avison Young team comprised of principals James Nelson, head of tri-state investment sales, Vincent Carrega, Neil Helman, director Brent Glodowski and associate Angela Mulder, represented the owner.

The newly constructed property features 12,796 s/f at grade and a 9,767 s/f lower level selling space for a total of 22,563 gross s/f. The NYC School Construction Authority currently has a long-term lease at the property occupying 11,492 s/f on the ground floor, while the remaining 1,304 s/f ground floor space and entire 9,767 s/f cellar were available for lease at the time of the sale.

The retail condominium at The Kent offered the opportunity to acquire a newly constructed retail space in the base of a beautiful luxury Upper East Side property with a built-in tenancy and an in-place cash flow, as well as future upside with the remaining available space, said Nelson. Even in this challenging retail market, Avison Young found that there was significant interest in this investment, driven primarily by the credit of a long-term lease with the New York City School Construction Authority for a Pre-K school, servicing thousands of residential units and young families in the Yorkville neighborhood.

The property features 212 ft. of frontage (including 161 ft. on Third Ave. and 51 ft. on 95th St. as well as 15 to 19-ft.-high ceilings on grade and 15-ft.-high ceilings on the lower level. The investment also includes a 421-a tax abatement benefit.

The neighborhood is an ideal location for any number of retailers including restaurants, shops, medical offices, fitness centers and other retail uses. 1683 Third Ave. is located just one avenue west of the 96th St. and 2nd Ave. subway station serving the Q line and one avenue east of the 96th St. and Lexington Ave. subway station servicing the 6 line.

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Avison Young arranges $28.712 million sale of Upper East Side retail condominium; owner is partnership led by Extell Development - New York Real...

Modera Creative Village will deliver 292 multifamily units to the Creative Village district of Orlando.

ORLANDO, FLA. Mill Creek Residential, a Florida-based developer, has broken ground on Modera Creative Village, a 292-unit luxury multifamily property in the Orlando.

Located at 505 Chatham Ave., the eight-story midrise building will feature studio, one-, two- and three-bedroom units as well as 10,000 feet of ground-floor retail space. Amenities include a fitness center with a yoga area and classes, a pool and an outdoor courtyard lounge.

Modera Creative Village is part of a master plan for the 68-acre Creative Village district of downtown Orlando. The project is a redevelopment of the former Amway Center sports and entertainment venue. The full development plans include multiple office, residential, retail, hotel and higher education projects.

Modera Creative Village is adjacent to the Lynx Central railway station and the Downtown Recreation Complex at Sunshine Park. Other attractions include a range of museums, restaurants and retail centers, including the Bob Carr Theater, Dr. Phillips Performing Arts Center and several art galleries.

The momentum of Creative Village will produce a dynamic urban infill neighborhood with prime opportunity for immediate growth, and were excited to be a part of it, says Eran Landry, vice president of development for Mill Creek Residential.

First move-ins are anticipated for early 2022.

Mill Creek Residential owns more than 80 multifamily properties totaling more than 21,300 units. The portfolio is concentrated in the Southeast, Northeast and Western regions of the United States.

Alex Patton

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Mill Creek Starts Construction of 292-Unit Modera Creative Village Multifamily Property in Orlando - REBusinessOnline

Gallery 3100 will join Elements on Third, located just two blocks north, which broke ground a few months ago on the third phase of their community. Elements on Third is being developed by Altis Cardinal at 3100 3rd Avenue North, three blocks north of Gallery 3100, and is in the process of converting existing office buildings into lofts. The adaptive reuse project will be complimented by new buildings for a total of 432 units.

Soil remediation and core sampling at Gallery 3100 is in process with concrete foundation work expected to begin in June. The first units at the property should be ready in late-Spring 2021.

Financing for the project was provided by Synovus Bank via a $16.1 million loan and was arranged by Matt Williams and James Maynard of Newmark Knight and Frank. Baker Barrios is serving as the architectural design firm for the project. And once completed, Incore Residential will be handling the leasing and management of the property.

For more information on Gallery 3100, visit their website.

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Gallery 3100, a 122-unit apartment building, breaks ground in the Grand Central District - St. Pete Rising

LANSING, Mich. (Press Release) - The Michigan Strategic Fund Tuesday approved a broad range of initiatives, business expansions and community revitalization projects to drive the economic recovery of Michigans businesses and communities and position the state for future prosperity, the Michigan Economic Development Corporation announced.

Todays MSF actions build on our efforts to deploy every resource available to support Michigans businesses, communities and residents as they work to economically recover from the COVID-19 virus, said MEDC CEO Mark A. Burton. It is more vital than ever that we stay focused on restoring economic prosperity for all Michiganders and the projects approved today are putting our state in a position to not only recover economically, but to thrive.

With Tuesdays announcement, the MEDC has deployed 14 response programs in the past two months to support small businesses, communities, entrepreneurs and workers in all corners of Michigan in combating the economic impacts of COVID-19, providing support for more than 2,700 companies and helping retain more than 11,000 jobs for Michigan workers. These programs have reached all 83 counties in the state, assisting businesses across a range of industries, including food service, retail, healthcare, construction and professional services, among others.

New Financial and Programmatic Support Available for Small Businesses and Communities Impacted by COVID-19

Metro Community Development, Inc., a Community Development Finance Institution based in Flint, received approval on a $2 million loan through MEDCs Capital Access program to make micro and small business loans ranging from $5,000 to $250,000 to Michigans small businesses in the 13 counties it serves, with an emphasis on businesses located in economically disadvantaged areas. The program is aimed at assisting those businesses that have been most impacted by the COVID-19 virus, such as restaurants, coffee houses, retail stores, and service providers. Businesses can use these loans primarily for working capital, acquiring machinery and equipment, and inventory.

Metro Community Development will begin accepting loan applications today. Businesses interested in applying for a loan should visit https://www.metrocommunitydevelopment.com/business-lending to apply through the Metro Community Development BizTHRIVE program.

The Metro Community Development loan provides business relief in counties not previously covered through a $2 million loan approved by the MSF in April to Northern Initiatives. Northern Initiatives is using the funds to assist small businesses in the 77-county region it serves. Between that loan and todays approval for Metro Community Development, businesses in all counties in Michigan except Wayne have been provided access to micro loan funds through the MEDC Capital Access program. It is anticipated that a similar loan will be recommended to cover Wayne County at an upcoming MSF meeting.

The Michigan Strategic Fund today also approved updated guidelines to the MI State Trade Expansion Program (MI-STEP) to increase the reimbursement ceiling from 50 percent to 75 percent for international website development for companies impacted by COVID-19. Activities may include website translation, search engine optimization and localization services. The increased cap will help provide greater support for companies in going global with their business, making it more favorable for them to participate in export activities. The approved changes, based on directives from the U.S. Small Business Administration as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, also include increasing caps for allowable reimbursements for small- and medium-sized businesses engaged in exporting activities.

MI-STEP is designed to spur job creation by empowering Michigan small businesses to export their products and is administered by MEDCs Export and International Trade Program. MEDCs MI Project Exception Program (MI-PEP), which provides export assistance to companies that do not meet the SBAs small business requirements, also received MSF approval of similar updates to its guidelines so that it remains consistent with the MI-STEP program.

The MSF also approved the 2019 Action Plan amendment for the Community Development Block Grant program, which includes incorporating $20.5 million in CDBG Coronavirus Response funds into the program to be used for CARES Act eligible activities.

Over the past two months, we have responded with agility to expand existing programs and develop specific relief efforts to face the current crisis while keeping our attention on the future economic needs of the state, Burton said.

Key Michigan Industries Expanding with MSF Support

Additional projects approved today by the Michigan Strategic Fund are providing key opportunities to support businesses that serve as a foundation to create high wage growth and regional impact across the state. This includes business growth projects in critical industries including medical device manufacturing and automotive manufacturing.

Packaging Compliance Labs is a medical device packaging engineering and testing firm headquartered in the city of Kentwood. The company specializes in assisting global medical device manufacturers in speeding new medical devices to market while maintaining regulatory compliance to FDA and international requirements.

PCL is experiencing increased demand and plans to expand at its Kentwood facility, a project that will generate a total private investment of $2.57 million and create 27 high-wage jobs. PCL is also heavily invested in the training and development of its employees with its implementation of PCL University to put employees in a position for upward mobility. As a result, PCL has been awarded a $135,000 Jobs Ready Michigan program performance-based grant. Michigan was chosen over competing sites in Denver and Tampa.

The Jobs Ready Michigan program was designed to provide grants for business expansion and location projects that lead to job creation and investments in Michigan that have a demonstrated training need, particularly in pursuing new opportunities for high-tech, high-demand, and high-wage jobs.

PCL has a worked closely with the Right Place, MEDC and several other local organizations since our inception in 2014. We are grateful to have these support systems available in our community, said Packaging Compliance Labs President Matthew Lapham. This grant is another example of the great resources offered to small businesses here in Grand Rapids.

The Right Place has offered staff time and resources in support of the project. Individuals interested in careers with PCL should visit https://pkgcompliance.com/careers-internships/.

ArcelorMittal Tailored Blanks Americas Corporation is a subsidiary of ArcelorMittal, the world's leading steel and mining company, serving the automotive industry including all major OEMs and Tier 1 suppliers. In November 2016, the company received a $2 million Michigan Business Development Program performance-based grant for plans to establish a manufacturing facility in the I-94 Industrial Park in the city of Detroit. The project was expected to generate a total capital investment of $83 million and create 120 jobs, and was the companys first and only facility in Michigan.

The company has reached its milestones and has recently secured new business to begin manufacturing contracts with two different automotive OEMs. The new product lines will require an expansion at ArcelorMittals existing facility in Detroit. As a result, the Michigan Strategic Fund today approved an increase to the companys MBDP grant and a five-year, 100-percent State Essential Services Assessment exemption valued at $379,200. ArcelorMittal pays higher than average wages and provides employees with an intensive technical training program, allowing the company to retain highly skilled employees. Todays actions will strengthen Michigans standing as a leading place for manufacturing companies to expand. To learn more about ArcelorMittal Tailored Blanks visit https://usa.arcelormittal.com/our-operations/tailored-blanks.

MSF Awards $950,000 to Continue Driving Commercialization of University Technologies

In support of the states entrepreneurial ecosystem, MSF also awarded $950,000 to Michigan Translational Research and Commercialization (MTRAC) Programs across the state. MTRAC programs supported by the MSF include:

- MTRAC Advanced Computing Innovation Hub at Wayne State University ($350,000)- MTRAC Advanced Materials Innovation Hub at Michigan Technological University ($250,000)- MTRAC Agriculture-Biology Innovation Hub at Michigan State University ($350,000)

MTRAC supports the acceleration of technology transfer from Michigan higher education institutions, nonprofit research centers and hospital systems for commercialization of competitive-edge technologies in the key areas of agriculture-biology, advanced computing, advanced transportation, life sciences and advanced materials. The MTRAC program is supported by funds from the MSF and administered by the MEDC, with additional funding coming from partner institutions.

More information on those awards can be found at https://www.michiganbusiness.org/press-releases/2020/05/michigans-entrepreneurial-ecosystem-receives-nearly-$1-million-to-support-high-tech-university-researchers/.

Community Revitalization Projects Supported by MSF to Help Create Vibrant Communities, Attract Talent

The Michigan Strategic Fund also approved five community revitalization projects that are helping to create the vibrant communities that attract talent through innovative placemaking. By contributing to traditional downtown districts and revitalizing public space in geographically disadvantaged area these projects are helping to establish attractive places to live, work and play.

The Woodward at Midtown project will construct a new five-story mixed-use building on a vacant site along the Woodward corridor in the Midtown neighborhood of Detroit. The completed project will include retail space on the first floor and 204 residential units on the upper four floors, with 41 of the units being reserved for individuals earning 80 percent or less of the area median income. The project is expected to generate a total capital investment of $59 million and will result in activating one of the last remaining vacant lots in the area, while also bringing needed residential housing to the area. MSF today approved a $5.3 million Michigan Community Revitalization Program performance-based loan participation in support of the project.

The City of Detroit Brownfield Redevelopment Authority also received MSF approval of a brownfield work plan including state tax capture in the amount of $900,841 to be used for the remediation of brownfield conditions at the site. The city of Detroit Downtown Development Authority is also supporting the project with a $2.2 million loan, reduction of the land acquisition price, approval of the local portion of the brownfield tax increment financing with an estimated value of $1.55 million, and anticipated approvals of Commercial Rehabilitation Act and Neighborhood Enterprise Zone tax abatements valued at more than $10 million. The city of Detroit is engaged with MEDCs Redevelopment Ready Communities program.

Bagley Development Group, LLC plans to rehabilitate a historic, eighteen-story, mixed-use building in the heart of downtown Detroit. The United Artist Building will consist of 148 mixed-income residential units and first-floor commercial space. The project is expected to generate a total capital investment of $73 million and create 25 full-time equivalent jobs, and will reactivate a long-vacant historic asset, increase density near Grand Circus Park, and bring much-needed affordable housing to the area. MSF today approved a $5 million Michigan Community Revitalization Program performance-based loan participation in support of the project. The city of Detroit plans to contribute $3 million in Community Development Block Grant (CDBG) funds toward the project and is anticipated to include both an Obsolete Property Rehabilitation Act abatement valued at $382,456 and a Neighborhood Enterprise Zone abatement valued at $8.3 million. The city is also providing a $2.5 million loan from the Downtown Development Authority.

The village of Cassopolis has received $2.8 million in CDBG funds for public improvements for the Imagine Cass Streetscape Transformation project in downtown Cassopolis. The project will build on the villages comprehensive Imagine Cass master plan that focuses on four main themes by implementing physical improvements that impact more than 400,000 square feet of public space in downtown Cassopolis and the surrounding corridors. These improvements will enhance the aesthetics and infrastructure of the district, while also improving connectivity and access of low- and moderate-income community members to local businesses and services, encouraging private investment and enhancing safety for pedestrians and bicyclists. Specific activities that will be completed include new striped bike lanes, pedestrian crosswalks, traffic lane reductions to help slow traffic to a safe speed, improved landscaping, lighting, public seating, free WiFi and replacing existing water main infrastructure. The total project cost is estimated to be $5.95 million. The village of Cassopolis is contributing $3.15 million toward the project.

The city of Ishpeming has received $1,896,342 in CDBG funds for public facilities improvements needed for the Senior Center Public Facilities development project in downtown Ishpeming. The project includes the construction of a new senior center that will comprehensively serve the senior citizens of the area and the demolition of the previous, blighted center to allow for higher-density downtown development. The total project cost is estimated to be $2.073 million, with the Greater Ishpeming Commission on Aging and the city of Ishpeming providing $207,338 toward the project.

In addition, a $490,730 CDBG grant was recently approved under MSF delegated authority for the Senior Center Public Facilities project in Negaunee. The city of Negaunee is contributing $52,136 in local funds toward the project. The project will allow the city to continue to provide services and opportunities to senior citizens who reside in Negaunee and the surrounding communities.

The City of Lansing Brownfield Redevelopment Authority has received MSF approval of a brownfield work plan that will include $19,844,895 in state tax capture reimbursement for the Red Cedar development project in the city of Lansing. The project will be located on the former Red Cedar Golf Course site, redeveloping a 35.57-acre portion of a 60-acre riverfront site into a mixed-use development with several components including two hotels, an assisted living facility, multi-family housing, student housing, retail, restaurants, public infrastructure and placemaking improvements. The remainder of the 60-acre site will be transformed through an Ingham County Drain Commission project into a public park with trails and wetlands.

The project is expected to generate a total capital investment of $255.6 million and create approximately 397 full-time equivalent jobs. The city of Lansing is supporting the project through the approval of the local portion of the brownfield tax increment financing with an estimated value of $39.69 million and the Lansing Board of Water and Light will be investing $278,965 to remove an electrical substation. The city of Lansing is certified with the MEDCs Redevelopment Ready Communities program.

Todays actions by the MSF Board send an important signal that the state of Michigan is focused on COVID-19 recovery efforts while continuing to support the businesses and community projects that will secure the long-term economic health of our state.

To learn more about MEDCs COVID-19 response programs and the impact they are having on economic recovery efforts, visit michiganbusiness.org/covid19response. Other resources for businesses across Michigan struggling with economic losses as a result of the COVID-19 virus can be found online at michiganbusiness.org/covid19. The MEDC has also developed a FAQ for Michigan businesses and communities at michiganbusiness.org/covid19-faq.

Information around this outbreak is changing rapidly. The latest information is available at Michigan.gov/Coronavirus and CDC.gov/Coronavirus.

For continuing coronavirus coverage from TV6 & FOX UP, visit uppermichiganssource.com/coronavirus.

About Michigan Economic Development Corporation (MEDC): The Michigan Economic Development Corporation is the states marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigans economy. For more information on the MEDC and our initiatives, visit http://www.MichiganBusiness.org. For Pure Michigan tourism information, your trip begins at http://www.michigan.org. Join the conversation on: Facebook, Instagram, LinkedIn, and Twitter.

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Michigan Strategic Fund actions help drive economic recovery around the state, position Michigan for future prosperity - UpperMichigansSource.com

Smes

The report is a compilation of different studies, including regional analysis where leading regional Retail Space Planning Software markets are comprehensive studied by market experts. Both developed and developing regions and countries are covered in the report for a 360-degree geographic analysis of the Retail Space Planning Software market. The regional analysis section helps readers to become familiar with the growth patterns of important regional Retail Space Planning Software markets. It also provides information on lucrative opportunities available in key regional Retail Space Planning Software markets.

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Table of Content

1 Introduction of Retail Space Planning Software Market

1.1 Overview of the Market1.2 Scope of Report1.3 Assumptions

2 Executive Summary

3 Research Methodology

3.1 Data Mining3.2 Validation3.3 Primary Interviews3.4 List of Data Sources

4 Retail Space Planning Software Market Outlook

4.1 Overview4.2 Market Dynamics4.2.1 Drivers4.2.2 Restraints4.2.3 Opportunities4.3 Porters Five Force Model4.4 Value Chain Analysis

5 Retail Space Planning Software Market, By Deployment Model

5.1 Overview

6 Retail Space Planning Software Market, By Solution

6.1 Overview

7 Retail Space Planning Software Market, By Vertical

7.1 Overview

8 Retail Space Planning Software Market, By Geography

8.1 Overview8.2 North America8.2.1 U.S.8.2.2 Canada8.2.3 Mexico8.3 Europe8.3.1 Germany8.3.2 U.K.8.3.3 France8.3.4 Rest of Europe8.4 Asia Pacific8.4.1 China8.4.2 Japan8.4.3 India8.4.4 Rest of Asia Pacific8.5 Rest of the World8.5.1 Latin America8.5.2 Middle East

9 Retail Space Planning Software Market Competitive Landscape

9.1 Overview9.2 Company Market Ranking9.3 Key Development Strategies

10 Company Profiles

10.1.1 Overview10.1.2 Financial Performance10.1.3 Product Outlook10.1.4 Key Developments

11 Appendix

11.1 Related Research

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Tags: Retail Space Planning Software Market Size, Retail Space Planning Software Market Trends, Retail Space Planning Software Market Growth, Retail Space Planning Software Market Forecast, Retail Space Planning Software Market Analysis Sarkari result, Government Jobs, Sarkari naukri, NMK, Majhi Naukri,

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Retail Space Planning Software Market Development, Trends, Key Driven Factors, Segmentation And Forecast to 2020-2026 - Cole of Duty

1.Infection control in office buildings: Preparing for re-occupancy amid the coronavirus (BD+C)"Prior to the coronavirus outbreak, the AE firm Gresham Smith had a client in Tennessee that was in the process of consolidating 1,000 of its employees into an office building that already had 1,000 of its workers."

2.Clemson's new Outdoor Education Center uses a Mass Timber Structural System (BD+C)"Clemson University's 16,000-sf Andy Quattlebaum Outdoor Education Center has become the first mass timber structure on the campus and the second mass timber facility in the nation to use Southern yellow pine as the primary building material."

3.Will empty hotels provide an answer for affordable housing shortage? (BD+C)"Richard Rubin sees the current spate of empty hotels, motels, retail, and office spaces created by the pandemic as opportunities for adaptive reuse to affordable housing, which is in perennially short supply in many markets in the U.S. and around the world."

4.COVID-19 will cause North America construction output to fall by $122.4bn in 2020 (GlobalData)"Amid the rapid decline in demand for new projects and safety regulations related to the COVID-19 pandemic, construction output in North America is now anticipated to fall by 6.6% in 2020, which is equivalent to $122.4bn, and down sharply from the previously expected rise of 0.6% prior to the outbreak (+$12bn), according to GlobalData, a leading data and analytics company."

5.AI Cameras Police Social Distancing at Work (WSJ)Coronavirus concerns lead companies to repurpose sensors that monitor office space, but privacy experts worry about mission creep.

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5 must reads for the AEC industry today: May 19, 2020 - Building Design + Construction

A large mixed-use complex fromLanterra Developmentswill soon rise from just southwest of St. Patrick subway station in Downtown Toronto. The early stages of construction are moving along at the site ofArtists' Alley, a mixed-use three-tower development, designed byHariri Pontarini Architects,being built on a block of land between St. Patrick and Simcoe Streets, just south of Dundas.

Looking southwest across site of Artists' Alley, image by Forum contributor AlbertC

The project has been under construction since site clearing wrapped up in late February, 2019 allowing heavy machinery to begin work on the site's shoring. Excavation was able to begin in June, 2019, and digging bottomed out four storeys below street level earlier this year. The first underground forming was recorded in March when crews began pouring footings for the site's first tower crane, the crane in place by the final week of March. The arrival of COVID-19 in Toronto suspended construction of some projects sites in early April, and the pit and partially-built foundations sat mostly idle until earlier in May. The relaxing of restrictions has since brought new activity to the site with new distancing protocols in place.

Much of the complex's foundation is now in place, with concrete pumps working away on the lowest P4 parking level atop the foundation slab. The base for a second tower crane is now visible at the northeast corner of the pit, expected to be installed in the coming days. Once the second crane is active, work on the four-level underground garage levels will move ahead full steam. They will be home to a total of 322 parking spaces, with 200 long-term resident spaces, 38 non-resident spaces, four car-share spaces, and 82 paid parking spaces for the Toronto Parking Authority.

Looking east across site of Artists' Alley, image by Forum contributor AlbertC

As below-grade construction continues, the project is still seeking final planning approvals for the above-ground portion of the site with a recently-submitted application for Site Plan Approval (SPA). This early April submission addresses comments from City Staff regarding minor details in the previous June, 2019 SPA application.

Looking southwest across site of Artists' Alley, image by Forum contributor AlbertC

Once complete, the complex will bring towers of 17, 35, and 39 storeys to the area, with almost 900 new homes along withretail and office space respectively measuring 1,368 m and 5,858 m. A new 1,000 m City park and a pedestrian-friendly public realm designed byNAK Design Strategieswill animate the base of the new complex.

Artists' Alley, image via submission to City of Toronto

You can learn more from our Database file for the project, linked below. If you'd like to, you can join in on the conversation in the associated Project Forum thread, or leave a comment in the space provided on this page.

* * *

UrbanToronto has a new way you can track projects through the planning process on a daily basis. Sign up for afree trial of our New Development Insiderhere.

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Work Heating Up for Three-Tower Artists' Alley Complex on Simcoe - Urban Toronto

Residential property prices have flatlined in the past two months after seeing strong growth before the COVID-19 crisis struck.

The central bank is also looking at the dynamics of people in financial stress and where they decide to live.

"Members also discussed the effect of a possible increase in the number of people moving back home or living in larger households for financial reasons."

"At the same time, the supply of rental housing had been boosted as properties that had previously been offered as short-term accommodation were shifted to the long-term rental market," the minutes said.

The central bank also looked at the buffers households had when it came to paying their mortgages.

"Members were briefed on the resilience of Australian households in the current downturn. Around one-third of households with mortgages had prepayment buffers of three years or more."

"But a smaller share had no mortgage prepayment buffer and were more susceptible to financial stress," the minutes said.

During the week that the RBA board met, the Melbourne Institute's survey showed households were now feeling less financially and emotionally stressed than during the strict lockdown.

"Housing loan arrears were likely to increase," the board meeting minutes said, "but the extent would depend on the severity of the economic contraction and the associated increase in unemployment."

"Loan payment deferrals would reduce the increase in arrears rates for at least the following six months."

The Prime Minister Scott Morrison said last week that banks had now deferred repayments on $220 billion of loans.

Commercial property was likely to take a substantial valuation hit.

"Members discussed vulnerabilities associated with commercial property, particularly for office and retail property."

"A large amount of new office space was expected to be completed in Sydney and Melbourne in 2020. Members noted that demand was not expected to keep pace with stronger supply in the near term and therefore it was likely that vacancy rates would rise and office rents would fall."

"Rising vacancies and reduced rent would be likely to lead to lower valuations, which would pose challenges for leveraged property investors and developers."

The RBA board was also more confident on the effect of COVID-19 restrictions on the construction sector.

"Members noted that some of the concerns that construction activity could be severely affected in the near term by supply chain disruptions and health-related site closures had not been realised," the minutes said.

"The effect on retail businesses of the social distancing measures was likely to exacerbate these problems."

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What the RBA is thinking about property prices - The Australian Financial Review

Joe Sitt and 905 W. Fulton Market (Credit: Thor Equities)

Thor Equities investment in booming Fulton Market is paying dividends.

In its latest move, the New York-based firm led by Joseph Sitt sold a 98,000-square-foot office building it developed for $85 million, according to Crains. That marks the priciest sale in Fulton Market to date.The buyer was German real estate firm Deka Immobilien.

The five-story building at 905 W. Fulton Market is the future global headquarters of snack maker Mondelez International, which will take 77,100 square feet of space there. That long-term lease deal was announced in January 2019, and includes more than 6,000 square feet of retail space. In December, DineAmic Hospitality owner of Prime & Provisions inked a deal to lease 8,000 square feet at the building.

The sale to German-based Deka works out to around $870 a foot. In September, Shapack Partners sold its 70,000-square-foot building at 811 W. Fulton Market to Intercontinental Real Estate for just over $50 million, pegging it at $774 a foot, Crains reported at the time.

Cushman & Wakefields Tom Sitz, Cody Hundertmark, David Knapp and Josh McGee advised on the Deka deal.

The future home of Mondelez is along a block-long stretch of Fulton Street filled with Thor-owned properties. In December, the firm landed a $144 million construction loan for an 18-story spec office tower along the 800 block of West Fulton Market. It also owns 1003 West Fulton, 942 West Fulton and 229 West Randolph Street. [Crains] Alexi Friedman

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Thor Equities big bet on Fulton Market is paying off - The Real Deal