This Colorado village is the second-richest in the country

To live in Cherry Hills Village you’ll need at least $1.5 million to buy your house — and most of the high-end ones go for between $5 and $7 million. The 6,000-person enclave of Cherry Hills, 10 miles south of Denver, has an average annual income of nearly $400,000, according to Bloomberg, and has a phone book that reads like Rolodex of who’s who of Denver celebrities. “You have Broncos players and Colorado Avalanche players […]

source https://therealdeal.com/2018/04/01/this-colorado-village-is-the-second-richest-in-the-country/

HUD restricts NYCHA’s access to capital funds

In response to the devolving condition of New York’s public housing and the recent lead paint inspection scandal, the federal government is taking a firm stance. The New York City Housing Authority will have to get the U.S. Department of Housing and Urban Development’s approval for every expenditure from here on out, reports the Wall Street Journal. “We don’t want to do it that way, but they forced us into doing it that way until […]

source https://therealdeal.com/2018/04/01/hud-restricts-nychas-access-to-capital-funds/

Toronto’s condo sales soar thanks to regulatory efforts to cool the resi market

Regulations can’t hold Toronto’s condo market down. Condo prices have risen 20 percent compared to February last year, according to Bloomberg, while sales of detached homes sank by more than 10 percent. Regulations were supposed to decreases for both markets, but an unexpected twist has occurred. On January 1, new mortgage regulations that required buyers to prove they could afford payments at least 2 percentage points higher than the price they go into contract at, […]

source https://therealdeal.com/2018/04/01/torontos-condo-sales-soar-thanks-to-regulatory-efforts-to-cool-the-resi-market/

Abu Dhabi and Dubai developers launch new $8.2B joint venture

Two of the United Arab Emirates’ most prolific developers, Emaar Properties and Aldar Properties, are teaming up. Through a recently-announced $8.2 billion joint venture the developers will spearhead two mixed-use waterfront projects — one in Dubai, one in Abu Dhabi — with a combined total of almost 10,000 residential units, according to Reuters. Details of other projects were not released. Dubai-based Emaar and Abu Dhabi-based Aldar both are linked to their respective ruling governments; the […]

source https://therealdeal.com/2018/04/01/abu-dhabi-and-dubai-developers-launch-new-8-2b-joint-venture/

When building a megamansion goes wayyy over budget

From TRD Los Angeles: Be careful what you wish for — and who you hire to build a dream house. Ziad Ghandour hired Lendlease, a commercial builder inexperienced in building luxury homes, because, he says, convinced him that the 35,500-square-foot home he was building would be more like a commercial project. But then his house was completed three years late, ran $7 million over-budget and problems from leaks to air filtration to the installation of […]

source https://therealdeal.com/la/2018/04/01/when-building-a-megamansion-goes-wayyy-over-budget/#new_tab

Asking for directions: Investors are searching for “a safe haven”

The past may not inform the future this time around. Investors seeking to minimize risk are at a loss as investments that typically rally during periods of volatility, like gold and Treasurys, weakened instead. Even more confusing, these assets unexpectedly diverged from the U.S. dollar and Japanese yen, going against the observed correlation from past periods of market disruption, as the Wall Street Journal reports. “The normal correlations you expect to see don’t work so well,” […]

source https://therealdeal.com/2018/04/01/asking-for-directions-investors-are-searching-for-a-safe-haven/

Engineering techniques used in collapsed Miami bridge are common: experts

From TRD Miami: Experts say the engineering behind the collapsed FIU bridge in Miami was nothing special. As scrutiny turns to what led to the bridge’s collapse, the structure’s so-called unconventional engineering and construction has been put in the spotlight, but the techniques used to build the bridge, known in the business under the umbrella term of “ABC” or Accelerated Bridge Construction, are typical and long-standing practices, according to Wired. ABC refers to a series […]

source https://therealdeal.com/miami/2018/04/01/engineering-techniques-used-in-collapsed-fiu-bridge-are-common-experts/#new_tab