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A Maryland-based company unveiled plans Wednesday for a more than $200 million development in East Village that would include apartments, office space and room for retail. The Foulger-Pratt Companies project — for now called Block F Makers Quarter — would be 32 stories and take up an entire block bounded by 15th and 16th streets between F and G streets. It would include 405 apartments, 48,475 square feet of office space and 19,665 square feet for retail.
Cardiff-based Urban Plates has closed a $38 million growth and working capital facility with Goldman Sachs Specialty Lending Group. The upscale fast-casual restaurant brand, founded in 2011 by Saad Nadhir and John Zagara, plans to use the proceeds to expand by building new restaurants around the country.
“We’re thrilled to have advised Urban Plates,” John Goldasich, partner at Arlington Capital Advisors, said via a press release. “Saad Nadhir and his team have developed a category-defining concept that meets the needs of the modern consumer. We look forward to following Urban Plates as the company continues to expand across the U.S.”
The company currently has 13 locations in California.
Sales of new single-family homes dipped slightly in July to a seasonally adjusted annual rate of 627,000, a 1.7-percent decline, month-over-month, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development. Year-over-year, sales of new single-family homes are up 12.8 percent.
Bob Dylan said it best: “The times they are a-changing.” They certainly are in the construction industry, particularly with regard to skilled labor availability and material costs. Construction projects throughout the country are at an all-time high and volume is expected to remain on an upward trend for the next three years, growing at 0.4% per annum (based on 2009 nominalized dollars, labor and material costs). All of this will play an important role in projects currently under construction, as well as those slated to begin within the year.