Leesburg - VA

Leesburg Today - The Journal of Loudoun County - Hospital, Kincora At Public Hearing Tonight: "up to 2,722,200 square feet of office space, 398,825 square feet of commercial, 575,000 square feet of hotel space, equal to 720 rooms,"

Town of Leesburg, Virginia, 25 West Market St., Leesburg, VA 20178 | Tel: (703) 777-2420

Gainesville- FL

First Land use hearing for Santa Fe Village development is tonight | Gainesville.com: "would consist of 1,473 residences, 443,720 square feet of office space, 219,700 square feet of commercial space, 52,000 square feet of institutional uses and 250 hotel rooms"

	Coffey C David PA atty 5346 SW 91ST Ter Gainesville, FL 32608-4399 (352) 335-8442

Greenville - DE

Proposed development Greenville | delawareonline.com | The News Journal: "2.8 million-square-foot shopping center with a hotel,"

Stoltz Realty

3704 Kennett Pike # 200

Wilmington, DE 19807-2173(Wilmington-Newark, DE-MD Metro Area)

Phone:	(302) 658-6681

Redding - CA

Redding council OKs commercial businesses in public places � Redding Record Searchlight: "possible hotel at Turtle Bay Exploration Park"

City of Redding Planning Depafrtment Redding, CA 96049-6071 777 Cypress Ave Redding, CA 96001 (530)225-4020 Phone

Long Branch -NJ

Council approves Pier Village III | atlanticville.gmnews.com | Atlanticville: "We’ve created an island where the hotel will be constructed,” he said. “It is a 72- room hotel."

David Barry

Applied Development

• 50 Washington Street
• Hoboken, NJ 07030
• Tel: (201) 963-5200

Chicago site

Is Walmart the Only Retailer Interested in Pullman? Maybe Not. | The Blog | Chicago Reader: "redevelopment plan pitched by Beale, more than 800 homes, a community center, a hotel, and two big-box retail stores"

Planning and Policy Division Zoning and Land Use Planning 121 N. LaSalle St. #703 Chicago, IL 60602 (312) 742-9000

Martinsburg -WV

I have been asked to repost this for those that have subscribed since it was posted earlier. Mr. Burke  feels very  strong about this market and would like to share his thoughts on the demand generators in the area with interested parties.  

www.meridiancommons.com

Would consider contributing some of my land equity into a minor partnership interest if that’s what it would take to make the deal work
His letter of introduction:
Thanks for your time on the phone and your interest in our Meridian Pointe Project.

Attached is an aerial which shows the “Sweet Spot” of our Meridian Pointe Development. Schewels furniture store is under construction and is slated for completion in the Summer of 2010. The spot that has been identified as a “HOTEL”, in my opinion, would be perfect for you for the following reasons….

1. It has an elevation of about 10-15 feet above Route 9 giving you exceptional visibility from that major east-west route.
2. At the 2^nd floor level you can see I-81, the hospital and the new convention center slated for construction later this year
3. It will be the center piece of our Meridian Pointe Development which is a mixed use office/retail/commercial planned unit development
4. It will be located right in the center of the Lutz Avenue Extension, a new bypass road which will provide direct access to downtown Martinsburg and City Hospital

The site itself is 3.5 acres and could be subdivided. All utilities are in place (water, sewer, natural gas, cable, T-1, DSL, Electric) The city will be issuing a bond, by July, 2010, to fund the construction of sidewalks, bike paths, 3 lane road, low level aesthetic street lighting, park benches, etc. SWM will be off site which is a huge advantage.

As you look at this, please realize that “Meridian Pointe” has been designated by the City of Martinsburg and the State of WV as a TIF district. What this designation means is that the real estate taxes collected from improved property within the district can be used to fund the design and construction of the entire infrastructure in the district. The most notable improvement is the “Lutz Avenue Extension.” This extension will pass right through the middle of our project.

At one end of Lutz is Route 9 and I-81 and the other end is Route 11 and the “Raleigh Street Extension” which is yet another new road that will connect the north end of Martinsburg to Downtown Martinsburg. Keep in mind that Route 9 is the 2^ndbusiest road in the Eastern Panhandle as it dissects all 3 counties from east to west.

From a demand standpoint a prospective hotelier should know that Martinsburg is quite a hot bed of federal activity. Located just outside the “Dirty Bomb Radius” of Washington, DC, Martinsburg is now home to over 25 federal agencies (main office or redundant office) including Coast Guard, IRS, VA Hospital, ATF, FBI, Federal Courthouse, DOJ, BOP, Homeland Security, Etc. These agencies, as they recruit candidates are in constant need of rooms. In addition to hiring, federal contractors are a constant in Martinsburg.

Finally, I would consider contributing some of my land equity into a minor partnership interest if that’s what it would take to make the deal work.

You can see more detail from aerials found on our web site which is www.meridiancommons.com

Thanks for considering our development. Please give me a call if I can answer any questions.

Tom

Thomas L. Burke

Meridian Development

55 Meridian Parkway, Suite 101

Martinsburg, WV 25404

FHA ID 2244300895

304-263-1000 Office

304-268-3370 Cell

304-263-1001 Fax

tom.burke@mmlends.com

www.meridian-realty.com

Lending Criteria brought to my attention

To: Mastio, David
Subject: New Hotel Loan Program

New Hotel Loan Program

HREC, as a correspondent for a new private mortgage lender, is currently sourcing hotel loans of $12 to $35 million for select-service hotels, and some full service assets. The loan program is geared toward 125 – 350 room Marriott, Hilton, Hyatt, Starwood and Intercontinental branded hotels.

·         This non-recourse program is available for acquisitions, refinance and repositioning.  

·         Loans can be up to 85% of the project/asset value.

·         Rates will range up to 10%, on either a fixed or floating rate basis, depending on the needs of the borrower, and can include accrued interest features depending on DCR. Loans will have a participating feature to be determined based on incremental appreciation in the project’s value and net cash flow.

·         Loan terms will range between 3 – 7 years and will have certain lockouts and yield maintenance prior to maturity. Lender charges 2 to 3 points origination fee, which is inclusive of HREC fee.  

·         This is a balance sheet lender that will fund hotels nationwide.  These loans will not be securitized and the lender will be the servicer for life of the loan.

The Lender is an experienced hotel player who understands the sector and how to value assets, believes that the market will recover, and understands the importance of good Sponsorship.

Other loan programs are available as well. Please contact Geoff Davis (303) 267-0057, x102, gdavis@hrec.com, or Mike Armstrong 760.452.2255,marmstrong@hrec.com, for more information.

Paradise -CA

The Walmart plans - Paradise Post: "38,000 square foot hotel and restaurant are planned,"

Community Development

Al McGreehan CDD Director 530-872-6291 office ail

Wattsville - VA

Massive Wattsville project draws the curious, concerned | delmarvanow.com | The Daily Times: "The old rink will make way for a new hotel and conference center"

Interesting article on capital markets

Hotel News Now Hotels News - Article The good news is the capital markets are functioning better and much sooner than we in the capital markets expected....

Rosemead - CA

City and developer disagree over future of auto auction site - SGVTribune.com: "they say, a major hotel could be built on the site"

Rosemead

Planning Department (626) 569-2140.

Country Inn and Suites Conversion potential !

Amber Hotel Company | Baymont Inn & Suites Page

• 82 guestrooms including 14 whirpool suites with interior corridors
• Visible and easily accessible from the I-94 Dan Ryan Expressway
• Built in 2001 on 3 acres with room for an adjacent conference center

Contact Dave Bowman

310-774-500 ext 5064

Target Field Site

643 5th Street North, Minneapolis, MN 

http://maps.google.com/maps?oe=utf-8&client=firefox-a&ie=UTF8&q=643+5th+street+north,+minneapolis,+mn&fb=1&gl=us&hnear=&cid=0,0,6222166897393550744&ei=ZFbOS5z7GISENq2U8CU&ved=0CAcQnwIwAA&hq=643+5th+street+north,+minneapolis,+mn&ll=44.983909,-93.277788&spn=0.006822,0.020578&t=h&z=17&iwloc=A

60,000 sf footprint, just west of the warehouse district, 10 minute walk to Northloop, Target Field, LRT/Northstar, CBD, Warehouse district..Month-to-Month income about $8,500 (billboard runs through 2013 -below market rents, 2 page lease, assignable + 2 tenants)

Owner will contribute property to development with the right team in lieu of sale.Asking $1,150,000

For Details contact:

Josh Floring

952-250-9216

josh@joshfloring.com

www.joshfloring.com

Des Plaines - IL

Daily Herald | Hyatt hotels project in Des Plaines declared dead: "'If there are other developers we would entertain their ideas"

Michael Conlan

Director of Community & Economic Development

847-391-5306

Site in Minneapolis - MN

SWC of I 394 and Hwy 100

Ronn Thomas Senior Associate - Retail Brokerage Services	3500 American Blvd W - #200 Minneapolis, MN 55431 952 893 8230 | Phone 952 893 3631 | Fax ronn.thomas@northmarq.com

Pleasant Hill - PA

Springwood gets green light - Lebanon Daily News: "135-acre development will include townhomes, a hotel, restaurant, retail stores and office properties"

Bldg. Code Officer/Zoning Officer: Ed Reddy, 412-655-5034

Banks reportedly working with Private Equity again

Credit starts to loosen up again for mid-market companies Crain's Chicago Business

Monthly Enrollment Update - up 51% in one month!

Again, I would like to take a moment to thank all those who have subscribed to this blog since I have opened it up to the public. In the first full month of offering subscription, there were 35 subscribers , 887 views and 386 clicks linking to 78 different markets/articles of interest. 


After two full months, there are now a total of 53 subscribers, involving 1,517 views with 719 clicks back to the site on 120 items/markets of interest. There are currently three very qualified leads (that I am aware of) as a direct result of utilizing this blog.

I will report back in a month with a subscription update. In the meantime , if you can think of anyone that should be a subscriber as well, or have any suggestions of any kind, please let me know. The first five subscription referrals get lunch on me!

Beaverton- OR

Developer proposes hotel, housing and shopping for land next to Nike | OregonLive.com: "concept calls for an 84,500-square-foot hotel featuring 133 rooms, with limited conference facilities."

Metropolitan Land Group

An Independent Member of the Steed Group CCB: 181933 17933 NW Evergreen Pkwy., Ste. 300 Beaverton, OR 97006 503-597-7100