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February 7, 2023

Cleveland Park Site Could Turn From 2 Homes Into 50 Units After Rezoning, Sale

Just In! Foulger-Pratt’s Jay Kelly To Give Landmark Mall Redevelopment Update Feb. 16
A rare multifamily development is moving forward in Cleveland Park after three parcels were pieced together on Wisconsin Avenue.

Cleveland Park Site Could Turn From 2 Homes Into 50 Units After Rezoning, Sale

One Street Commercial Properties has acquired the site at 3427-3433 Wisconsin Ave. NW for $10M, Bisnow has learned.Beginning in 2021, Feldman Ruel Urban Property Advisors worked with seller 10Square to agglomerate three parcels at the intersection of Wisconsin and Idaho avenues and bounded by Ordway Street and Norton Place.The firms then ushered the…

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All-Affordable Development Planned On Route 1 In College Park

All-Affordable Development Planned On Route 1 In College Park

A developer is moving forward with an all-affordable development in College Park, one of the only such low-income housing developments in the area.RST Development is planning a 331-unit development on the east side of Baltimore Avenue between Cherokee Street and Delaware Street, according to Prince George's County planning documents. The project was approved in…

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Simon Says It Made ‘Mistakes’ With Its Retail Brands But Is Now Reinvesting

Simon Says It Made ‘Mistakes’ With Its Retail Brands But Is Now Reinvesting   Shopping mall giant Simon Property Group plans to put more money into at least one of the retail brands it owns after it says its retailers underperformed in 2022.Simon CEO David Simon said on the REIT's fourth-quarter earnings call Monday evening that the brands, including JCPenney and Forever 21, were affected by macroeconomic headwinds and by mistakes the company made. “2021 was a great year for our retailers, however in 2022, Forever 21 and JCPenney…

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EXCLUSIVE: Gender Imbalance In Senior Real Estate Leadership Roles Is Getting Worse

EXCLUSIVE: Gender Imbalance In Senior Real Estate Leadership Roles Is Getting Worse   The proportion of women in senior leadership roles in UK real estate has worsened in the past six years, a comprehensive new industry survey revealed, with a blockage at middle management level a key cause of the problem. A survey undertaken every two years by industry body Real Estate Balance found that women made up 27% of the workers in senior leadership positions at the end of 2022, down from 32% in 2016. A total of 32 companies employing 53,000 staff provided data for the survey.On the plus side, the proportion of female employees in senior roles rose from 21% in 2020. Other positive findings included a big fall in the proportion of support staff who are female, indicating women aren’t being confined to lower paid work in real estate, and a rise in female…

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