Building a sense of community is a rewarding part of working with REITs
Student Housing REIT EdR Restores UC Berkeley Residential College to Gothic Glory
Dominating a steep hillside on the University of California at Berkeley campus, Bowles Hall’s imposing collegiate gothic architecture creates a classic academic scene. Complete with gabled roofs, square turret, wood-paneled rooms and fireplaces, the structure readily draws comparisons to Harry Potter’s fictitious boarding school, Hogwarts.
Columbia Property Trust Moving Ahead on Redevelopment of 1891 Terminal Warehouse in New York
Columbia Property Trust (NYSE: CXP), in partnership with L&L Holding Co., said it has secured $1.25 billion in construction financing for the restoration and redevelopment of the historic Terminal Warehouse in New York’s West Chelsea neighborhood.
Built in 1891, the warehouse’s 550,000 square feet of self-storage space will be converted into modern, class-A offices, while ground floor retail and common areas will be repurposed.
Howard Hughes Corporation Transforms Manhattan Seaport District
In December 2018, New Yorkers welcomed the city’s first open-air rooftop ice skating rink atop Pier 17 in the Seaport District of lower Manhattan. The 5,100 square foot Winterland Rink offers panoramic views of the East River and Brooklyn Bridge, and amenities such as the speakeasy rooftop lounge R17 with seasonal fireside seating; Tank, a “warming hut” bar and restaurant; and Skyline Hall event and community space. These same views are offered year-round to the public with versatile new features based on the season.
REITs Reshaping Communities: Sotherly Hotels, Inc.
Atlanta native and city councilman Kwanza Hall looks at his hometown and sees a city that is “ripe for growing to be an international icon.”
The councilman lights up when asked about what makes Atlanta special to him, expounding on the city’s thirst for innovation and its flourishing arts and culture. Yet, he says a deep reverence for history lies at the city’s core.
MCR Unveils New TWA Hotel at JFK Airport
The TWA Hotel at JFK Airport is MCR’s homage to the golden age of air travel.
The rebirth of the once-defunct TWA Flight Center at JFK Airport as the new TWA Hotel is more than just the latest project for MCR, a private REIT—the $265 million undertaking is a symbol of what vision, passion, and persistence can produce.
Opened in May 2019, the TWA Hotel pays homage to the 1960’s, a period that MCR Chairman and CEO Tyler Morse calls the golden age of aviation and travel. This rich history is evident from every mid-century curve, down to the smallest details like penny tile floors, retrofitted vintage Western Electric 500 rotary phones, and elevator buttons from Manhattan’s iconic Seagram Building.
Shaping Communities: Ryman Hospitality Properties and the Nashville Music Scene
Ryman Hospitality Properties is a proud and innovative custodian of Nashville’s cultural heritage.
Nashville’s mother church of country music, the Ryman Auditorium, prepares for a two-night show by John Mellencamp. A few blocks away, aspiring musicians command the stage at the multi-level entertainment venue Ole Red. It’s a typical weekday for two Nashville assets owned by Ryman Hospitality Properties, Inc. (NYSE: RHP), and one that showcases its ability to integrate past and present, while providing new experiences for the city’s growing number of visitors.
Vornado's theMART: Still Relevant at 90
At nearly 90 years old, Vornado’s theMART in Chicago is as relevant and culturally significant as ever.
“Everyone knows theMART, this mammoth Art Deco structure facing the river,” says Mark Kelly, commissioner of the City of Chicago’s department of cultural affairs and special events. “It’s a muscular building—a working building—that’s always played with the imagination of the city.”
One of the largest office buildings in the United States, theMART stands tall along two blocks adjacent to the Chicago River in the heart of River North, one of the city’s most dynamic submarkets. Completed in 1930 and purchased by Vornado Realty Trust (NYSE: VNO) in 1998, theMART’s history has been intertwined with Chicago’s retail, business, media, and cultural landscape for nearly 90 years.