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April 17, 2024

Edison Park Committee Endorses Controversial Plan For 2 Apartment Buildings

A developer's plan to build 82 apartment units in Edison Park is moving forward following a recommendation from the ward's Zoning Advisory Committee, despite months of heated pushback from area residents. 

Edison Park Committee Endorses Controversial Plan For 2 Apartment Buildings

Developer Valdir Barion aims to build two four-story apartment buildings, each with 41 units, at 6750 N. Northwest Highway, Block Club Chicago reports. Designs for the development also include 41 parking spots and a courtyard.The 41st Ward Zoning Advisory Committee unanimously approved the project on Monday, and the recommendation heads…

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WeWork's Survival Depends On Its Members. Its Bankruptcy Is Testing Their Loyalty

Anthony Holten signed up for a WeWork office in Astoria, Queens, in October, soon after moving into the neighborhood in hopes of getting out of the house and finding a community. 

Less than a month later, on Nov. 1, he received an email notifying him that his location would be closing in three weeks as part of what WeWork claimed was a regular review of its real estate portfolio, according to an email shared with Bisnow. He would be transferred to 430 Park Ave. in Midtown — a nearly 30-minute commute away.

Days later, WeWork filed for bankruptcy

“If I had known the Astoria WeWork would be shut down I would have gone with [a competitor],” Holten said. “Ultimately, if I can work remotely from anywhere, why would I go through the hassle of keeping up with WeWork’s changing communications as they restructure?”

WeWork's Survival Depends On Its Members. Its Bankruptcy Is Testing Their Loyalty

As WeWork has scrambled throughout its bankruptcy to renegotiate and exit hundreds of leases, some of the members on whom the company depends have been left confused and frustrated in the whirlwind.To paint a picture of how the embattled coworking pioneer's financial troubles have affected its customers,…

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Senators Compare Hospital Landlord MPT To 'Ponzi Scheme,' Urge It To Reduce Rents

The U.S. Senators from Massachusetts have sent a letter to Medical Properties Trust, the largest hospital landlord in the country, criticizing its business model and urging it to take action on the facilities run by beleaguered operator Steward Health Care

Senators Compare Hospital Landlord MPT To 'Ponzi Scheme,' Urge It To Reduce Rents

The letter, sent by Sens. Elizabeth Warren and Ed Markey on Monday, was directed to MPT and landlord Macquarie Infrastructure Partners. The senators called on the landlords to reduce Steward's lease payments or terminate leases and allow new operators to take over to keep hospitals…

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Landlords Near Planned New MARTA Stations Eye Real Estate Boom

Landlords Near Planned New MARTA Stations Eye Real Estate Boom  

Moez Hasni and some partners own a small retail building occupied by a grocer between the Bankhead and Washington Park neighborhoods in Atlanta, and at this time last week, they had no plans for the 2,200 SF investment property other than collecting rent checks.

But now they are thinking bigger.

Mayor Andre Dickens announced on Thursday the locations of four new MARTA infill stations in the works, one of which will be a short walk from Hasni's property at 1141 Joseph E. Boone Blvd. The planned station and the thousands of potential passengers moving through it opens up the prospect of tearing down the old building and developing an even larger retail property.

“We would definitely want to redevelop that property into something that would fit into the whole concept of the BeltLine and the MARTA station,” Hasni told Bisnow. “If [the city of Atlanta] allows a station with alcohol license, we would develop it right away [into] a gas station or larger grocery store.” 

Hasni, the chief operating officer of Pine Lake, is one of many owners now contemplating a brighter future for their properties because they are in the vicinity of a new fixed-rail transit station — a proven driver of real estate value. “There’s going to be a competition to get into those properties,” Sergio…

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