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Southern California Homebuying Sinks Below 2008

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What’s Driving Southern California’s Housing Slowdown? Squeezed by mortgage rates above 6 percent, Southern California buyers have lost a severe amount of purchasing power. That has sharply reduced demand across the region. In December, the average Southern California home price fell to $854,993, reaching its lowest value since March 2024. Compared with the pandemic period, when borrowing costs sat below 3 percent, today’s financing conditions leave households qualifying for far less. Median monthly payments above $5,900 in 2025 have pushed many first-time and move-up buyers out of contention. Even so, this slowdown looks more like a market stall than a crash, as high capital costs and buyer hesitation are reducing activity without triggering forced selling. Supply Problems Worsen Strain The slowdown also reflects a chronic housing shortage. The region has underbuilt for decades, producing fewer than 80,000 homes annually despite needing roughly 180,000. Single-family restrictions, z...
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Connecticut Office-Retail Building Sells for $10.69M

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39 Lewis Street Sale: Key Deal Facts A fully leased, four-story mixed-use building at 39 Lewis St. in Greenwich sold for $10.69 million, marking a notable Central Business District transaction in a tightly watched market. The brick, 1963-vintage property contains 17,081 square feet of interior space and sits less than one block from Greenwich Avenue, near restaurants, shops, and services. The property was one of two Connecticut assets included in a $14 million portfolio sale . The closing reflected $544.30 per square foot and a 6.74% capitalization rate. Broader market signals, including increased inventory , suggest buyers in some regions are gaining more negotiating leverage. The property had been listed at $9.3 million before the final adjustment. Buyer Jennifer Chen, a Darien resident, acquired the asset through a self-represented limited liability company. CBRE brokers Jeffrey Dunne, Steven Bardsley, Travis Langer, and Daniel Blumenkrantz represented the seller, an LLC tied to Pin...
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New Orleans Church Site Gets Investor Takeover

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What Changed at the Sacred Heart Site? After years of uncertainty, control of the 2.25-acre Sacred Heart campus at 3200 Canal Street shifted to local investor Danny McKearan through a 50-year lease with the Archdiocese of New Orleans, rather than a direct sale. The change did not displace Unity. Court records and lease terms preserve the nonprofit’s occupancy and operations through 2052. Unity’s lease includes eviction protections that bar removal and limit changes affecting its nonprofit operations. McKearan’s rights are limited to the church and rectory, not the full two-block site. Immediate Priorities Narrow His focus is structural assessment, urgent stabilization, and a long-term maintenance program. No immediate redevelopment or new construction has been announced. The church has remained closed for years after Katrina flooding, making historic preservation the central near-term issue. Current activity centers on evaluating conditions while maintaining community partnerships wit...
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Milwaukee Bay View Apartment Plan Revives

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What Bear Development Plans to Build in Bay View Bear Development’s Bay View blueprint centers on a 576-unit affordable housing redevelopment at the former Filer & Stowell industrial site. If built, it would become the largest private affordable housing project in Wisconsin history. The plan splits the units between 144 senior apartments for residents 55 and older and 432 family apartments open to all ages. Layouts focus mostly on one-bedroom and two-bedroom homes. Rents would be set for households earning no more than 80 percent of area median income. Most units, 418 in total, would serve households earning 60 percent of median income or below. Affordability tiers would range from 40 to 80 percent of median income. The project also responds to a national housing inventory gap that continues to constrain supply. Eight five-story buildings are part of the proposal, along with substantial parking. The design also calls for recycled demolition materials and trail integration. The mor...
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Phoenix Mansion Sale Hits $10.6M

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The $10.6M Paradise Valley Mansion Sale A swift luxury deal reset expectations in Paradise Valley when the modern estate at 5120 North Casa Blanca Drive closed for $10.6 million. Set on about 4.3 acres, the residence combines contemporary architecture, high-end interior finishes, and notable privacy on one of the community's most exclusive streets. Open-concept design and smart home technology remain especially attractive to luxury buyers seeking both convenience and long-term value. The setting places the estate near Camelback Mountain and surrounding preserves within the Phoenix metropolitan area. The broader luxury market remains active, highlighted by a $16 million speculative Paradise Valley mansion sale that closed just two days after listing. Deal Structure and Buyer The celebrity buyer was former Major League Baseball outfielder Matt Holliday, who purchased the newly built home from Rex and Ruth Maughan. Agents Walt Danley and Catherine Jacobson handled the transaction th...
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Phoenix Car Wash Redevelopment Sparks Midtown Shift

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What Is The Corner at Midtown? At the northwest corner of Third Street and McDowell, The Corner at Midtown is a planned mixed-use redevelopment of the former Los Olivos Hand Car Wash site at 232 E. McDowell Road in Phoenix’s Arts District. Helix Properties, a Phoenix-based commercial real estate firm, bought the long-vacant parcel in May 2022 for $3.6 million. The company presents the project as a walkable destination aligned with Midtown’s urban growth pattern and adjacent transit access. Similar mixed-use efforts in other cities have drawn attention for urban revitalization strategies tied to infrastructure and public-space improvements. It is planned as a new retail and restaurant center for the long-vacant site. Site Context and Development Role The property stands beside the Arts District Apartments and near the light rail line, placing it within an established cultural corridor. Its position near major museums, Roosevelt Row, and the Arizona School for the Arts supports communi...
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New Jersey Sky-High Pool Tower Opens

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Why The Greyson Pool Stands Out At the top of The Greyson, the swimming pool occupies the 29th floor of the 29-story tower, giving the development the highest pool position in New Jersey. That elevation sets it apart from standard ground-level amenities. The rooftop sky deck introduces broad views of the Jersey City skyline and sightlines toward Manhattan. Its oval-shaped enclosure adds a distinct architectural identity while reinforcing controlled access. The pool also stands out because use is limited to residents of the building’s 622 units. Those privacy features support a more exclusive environment than publicly accessible facilities. Like other premium developments shaped by smart home technology , the property emphasizes convenience alongside exclusivity. Smart electronic locks elsewhere in the property reflect a broader emphasis on secure entry. Operationally, the amenity benefits from a newly completed setting designed for resident use. Its maintenance protocols are expected t...
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