Envy Apartment

CLOSE The Americana Lodge in downtown Redding , California, closed in January after hundreds of alleged code and safety violations , and now The Hignell Companies hopes to repurpose the building. Wochit Architectural renderings of the proposed remodeling project to turn the closed Americana Lodge into The Lofts. (Photo: Russell Studio) Plans to convert the shuttered Americana Lodge in downtown Redding to apartments come before the city Wednesday afternoon . The project has been hailed as a catalyst for the area since The Hignell Companies of Chico announced it was purchasing the former motel late last year. Hignell would transform the property between Pine and Market streets into 24 one-bedroom and 20 studio apartment units that would average between 400 and 500 square feet of floor space. At least four of the apartments would be set aside for very-low and low-income renters. The Redding Board of Administrative Review will consider Hignell’s site development permit application ...

Lon Horwedel | AnnArbor.com Ann Arbor’s Hidden Valley Club apartment complex is a local example of a $ 70 billion national real estate problem : Securitized commercial loans that are in default. A foreclosure notice on the 324-unit complex near Briarwood was filed in late April, despite months of ongoing conversations initiated by the owner to modify the loan. The loan itself - which totals $18.1 million - is complicated, since it’s one among billions in real estate investments that were repackaged and sold to Wall Street investors during years of peak real estate prices . So are the circumstances behind the loan default, said Hidden Valley Club co- owner Jeff Starman . The most obvious is the drop in the property’s value as rental rates fell below levels to cover loan payments . Other factors include a national real estate climate in which banking consolidations after the lending crisis and the sheer volume of properties in securitized loans - known as Commercial Mortgage B...

One day in August, 2016, the financier Carl Icahn made an urgent phone call to the Environmental Protection Agency . Icahn is one of the richest men on Wall Street, and he has thrived, in no small measure, because of a capacity to intimidate. A Texas- based oil refiner in which he had a major stake was losing money because of an obscure environmental rule that Icahn regarded as unduly onerous. Icahn is a voluble critic of any government regulation that constrains his companies. So he wanted to speak with the person in charge of enforcing the policy: a senior official at the E.P.A. named Janet McCabe . Icahn works from a suite of offices, atop the General Motors Building , in midtown, that are decorated in the oak-and-leather fashion of a tycoon’s lair in a nineteen-eighties film. During that decade, Icahn made his reputation as one of the original corporate raiders , pioneering the art of the hostile takeover and establishing himself as a human juggernaut—a pugnacious deal machine ...