New Mall at the WTC a Glimmer of Hope

With the passing of the 15-year anniversary of 9/11, it is a great ray of hope that rises in the new World Trade Center Mall that opened on August 16th. Bill Hecht, COO of Westfield Corp.’s U.S. Division said it best when he stated that the location of the mall is a “symbol of hope, opportunity, progress and perseverance.”

From another viewpoint, Angela Ahrendts, Apple’s retailing chief said that, “When you look at how many people now live in the neighborhood, how many commuters work in the neighborhood and how many tourists now are coming to the memorial, emotionally it was a no-brainer and financially it was a no-brainer.” There are upwards of 60,000 residents that live within walking distance of the World Trade Center area.

The World Trade Center Mall is 365,000 square feet and will be occupied by over 100 stores including a new FordHub that Ford Motor Co. has set up as a showroom, not a dealership. With an expected 15 million tourists and over 300,000 daily commuters, the World Trade Center Mall is a testament to the strength and perseverance of the United States, New York, and Manhattan.

“It took a long time, but here we are,” Peter Lowy said. He is now co-CEO with his brother, Stephen,

Westfield said that security and safety will be of the utmost importance and will take the highest priority. Not only for themselves, but also for the Port Authority. Uniformed Police and Private Security will always be present to watch over the World Trade Center Mall and its visitors. Westfield went on to say that, “As with any high-profile public location and transit center, there are extensive security measures that have been put in place with law enforcement and others.”

In light of the devastation that rocked the world on 9/11 it is with much hope and excitement that new life is springing forth from the ashes. The new double-level structure is a symbol that we are resilient, we can overcome obstacles, no matter how large, we will stand together as a country and a community and rise above and beyond. The World Trade Center Mall is a symbol of all that we hold dear as Americans, truth, justice and the American Way.



Hard Money Lending Explained

Private money, also known as “hard money,” is alive and well in most states. As the “Help I need money” noose tightens around the neck of home-builders and potential entrepreneurs, those  with cash burning a hole in their pockets will open the doors for potential investors by way of this loan vehicle.

If you are planning on investing in a home and/or rehabbing it, and would like to possibly dip your toe in the deep end of the money pool to make the purchase please allow this informative article to explain how hard money works and what the difference is between hard money and private money.

Description of Hard Money. What it is and how it Works.

A hard money lender/loan is a specific type asset-based loan financing through which a borrower may not be able to get a traditional loan from one of the usual suspects like a bank or credit union. These loans are usually based on a short term not years to repay for real estate investors interested in buying or repairing distressed properties. Unlike banks, hard money lenders are quick to loan money to qualified borrowers wherein money can exchange hands in a day or week. If your credit is marginal, hard money lenders will occasionally require the borrower to back up the loan with “real” assets like a home, business or even a valuable vehicle that is free and clear.

Note #1: Hard money lenders are usually compared to private money lenders. However, a private lender will many times be more flexible and offer better terms and conditions to the borrower. Think: interest rate, duration of the loan, and necessary or unnecessary paperwork, Private lenders are many times a close friend, family member, business associate as well as a professional referral.
Note #2: There is also another hard money loan type that targets real estate borrowers. It’s called a “bridge loan; also known as a “swing” loan. The concept is close to what hard money lenders work with when interim financing is needed. These types of loans are more expensive than the others and mostly used for commercial real estate purchases when a permanent loan or “take out” loan is imminent. Ergo, if money is quickly needed for a short term, and the traditional loan boat has left the dock, hard money is worth the cost.


The Best Real Estate Development Companies in Washington D.C.

The redevelopment industry in Washington D.C. is currently booming. Not only are developers looking for new and improved ways to develop land, but are also looking to do so with green technology that has been in high demand in Washington D.C. Current products are becoming popular such as the reconstruction of old neighborhoods that are near the capital. New Frank Haney projects will adhere to the walking community and will promote conservation and using energy and resources efficiently. Here is a list of some of the top developers in the city of Washington D.C.

1.) Peterson Companies

This company is one of the largest companies that is privately owned. This company offers services that are full integrated for building offices, commercial buildings, and even residential homes. As of present day, this company has been reported to be responsible for building over 30,000 residential homes that are popular to live in that consist of a great layout and green technology.

2.) PN Hoffman and Associates

The services provided by this company such as marketing services, sales, design, as well as construction are all of the highest quality and are constantly sought after. Since the start of this company in 1993, this company has been dedicated and has built over 28 developments in the Washington D.C. area. This company specifically specializes in mix-use development projects.

3.) Douglas Development

This company has a diverse portfolio of commercial offices, retail, and even residential projects that have been built over the years. Currently, the company is proud to announce that Douglas Development is responsible for almost 180 redevelopment projects in various types of development. This company especially likes to rebuild historic buildings. What this company does is not only preserve the historical appeal, but also creates a new and improved design that is centered around the historic neighborhoods and houses.

4.) Clark Construction

This company is most noted for being a nationally recognized real estate company that creates highly efficient homes that are conscious of energy usage. The services to use from this company include capital markets, development, construction, and even property management. For projects such as luxury apartments, this is the best company to choose from. This company is over 20 years old and is already and nationally ranked family brand name. For mixed-use communities and for family military housing, this has become the company to go to for the best choices.

Top Natural Gas Organizations Help in W. VA’s Flood Relief

Residents of the state of West Virginia experienced a devastating flood. Homeowners and business were displaced, and residents are still struggling to regain their footing. In a flood zone, the need for clean water, housing, clothing, food, and medicines is critical. Contamination is a major problem and can spread viruses and bacteria. Displaced families in the West Virginia community need every ounce of help possible from the community and other groups willing to assist. Leading the list of helpful organizations is:

  • Antero Resources
  • Apex Pipeline Services
  • Blue Racer Midstream
  • Chevron Global Community Fund
  • Columbia Pipeline Group
  • CONSOL Energy
  • Crestwood Midstream Partners
  • Cunningham Energy
  • Dominion Resources
  • Energy Transportation/Applied Construction Solutions
  • Eureka Midstream
  • ExxonMobil and XTO Energy
  • Jackson Gas Company
  • Learned Leadership LLC
  • Marathon Petroleum Corporation
  • Mountaineer Gas Company
  • Noble Energy
  • Ryan Environmental
  • Southwestern Energy
  • Stone Energy

Flood Disaster:

Many involved in the flood have nothing left. The natural gas companies are a part of the community, assisting their neighbors and opening their wallets to give what they can to bring friends and neighbors back from the brink of despair. After a tour of the state, Mr. Orndorff found the devastation indescribable. His affiliation with the Red Cross brings him a deep understanding of the needs of disaster-stricken areas, and his company along with many others are coming to the aid of constituents.

Announcing Flood Relief:

The announcement was made on Tuesday, by gas companies all over the West Virginia area to give back to the community at a time when the need is greatest. Customers use the services of these companies every day of the year. Now the natural gas companies have the opportunity to show customers how important they are to their organizations.

Bob Orndorff, of Dominion Resources’, made it known that $350,000 would be made available to the American Red cross of West Virginia. As State Director of Public Affairs, he informed the public that donations would be matched by other natural gas organizations in a joint effort to help the community.

Community Cooperation:

Many are participating in lending a hand. The top natural gas organizations help in W. VA’s flood relief without giving it a second thought. This is home for many of the companies, and the faster they get their customers back on their feet, the sooner everyone can get back to business. These corporate giants understand their survival is tied to the progress of their neighbors.

In a flood disaster, a homeowner may need to evacuate immediately. There is rarely the time to collect belongings while fleeing for your life. Buildings suffered structural damage and cannot be inhabited without inspection. Many may require complete destruction. This flood has placed a community at risk, and FEMA, in addition to West Virginia’s top natural gas organizations, are helping in the flood relief process.

Make Money Investing in Homes

When you are looking to become the master of the real estate investing world and be among the likes of Lee Shau Kee, Donald Bren and Gerald Cavendish Grosvenor to name a few success stories, you need to keep a few things in mind. These people got to be some of the richest people in real estate by following a few simple steps.

First make sure that you do not lose your focus. This means find one type of investing method and don’t stray from this. There are so many types of ways that you can invest, taking one or two helps you to narrow your focus and keeps you on track. Often a person will get overrun by trying to dip their hands into too many areas of investing.

Managing your costs carefully will help to ensure that you are not losing money on an investment. Gauge an investment carefully before you make the decision to invest. Things like the amount of money that will need to put into things like repairs and such need to be looked at carefully.

A careful assessment of the property values of the other homes in the area as well as the crime rate need to be looked at carefully. This is an area that many in the area of real estate investing tend to overlook and as a result it leads to them having serious issues and can often times lead to them losing all their investment. A house that is located in a run down part of town will often times not be as profitable as one that is in a more upscale part of the city.

The last area to consider is that of utility costs. The bigger the space and the less weatherized that a place is, then the higher the utility costs will be. If you have any intention of renting out your home, then you will want to consider including these into the price that you will charge for rent on a monthly basis.

Donald Bren is a classic example of taking a little and turning it into a lot. At a young age he took a little run down house and made that as his first investment. From there he continued to follow these steps and learn from his mistakes to make Forbes magazine as one of the richest billionaires in real estate. While following these steps will not guarantee you billions of dollars, the sheer process of following them will get you well on your way.

Top Real Estate Companies To Contact In Washington DC Area

A major group of real estate companies has made the changes that are going on, in the Washington DC region. The building industry is now having sustainable and green technologies, which influence, how the new projects constructed are, and also on the redevelopment of the old ones. A guide to the five core companies (besides Frank L Haney), making the redevelopment boom in Washington area, will be mentioned here in a short while.

• PN Hoffmann and Associates

PN Hoffmann, with its affiliates and subsidiaries, offer construction, design, sales, and marketing, for both, mixed-use development and personal residential projects. The company boasts of completing successfully, more than 28 development projects in the District of Columbia region. PN Hoffmann combines exciting and latest architecture, with old existing neighborhoods. Logan Circle, Adams Morgan, the U Street Corridor and Penn Quarter are some of the neighborhoods; he has developed.

• Douglas Development

In 1985, Douglas Development Company was founded and a portfolio of commercial offices and mixed used residential properties, are featured by the company. This company has redeveloped a little over 180 projects. He did Chinatown’s Instore area from Verizon Center and Woodward & Lothrop buildings.

• Peterson Companies

This developer is one of the biggest, private possessed, real estate companies, in Washington area. Development services are offered fully, for residential, offices, commercial and retail property. Maryland and Northern Virgin are some of the places that the Peterson Companies developed, also some fruitful and prominent, mixed use offices and residential developments. Over 30,000, residential houses have been done by Peterson companies.

• Community Three Development

This company of Community Three Development, targets central Washington DC, to redevelop, underused real estate properties. Mount Pleasant, DC’s Capitol Hill, Logan Circle and Shaw, are the neighborhoods that got the touch of Community Three Development.

• Clark Construction

Clark Construction offers a broad base of services, including development, property management, capital markets and construction thoroughly combined national, real estate firm. It’s ranked as being among the great multifamily builders, nationwide. Luxury apartments, mixed-use communities and military family housing, have been built by this premier nation builder.

With this selection of top real estate companies, Washington DC has been made into having an urban lifestyle.

Who Developed Your Washington Office Building?

You’re ready to take that step into the ‘green’ building project. You will certainly need to do some research as to who would be able to help you accomplish this. You want to consider someone who knows about the legal aspects of what is an environmentally favored building.

With so many contractors bidding for your project, it helps to consider who developed the Washington office building that have been successful thus far. Keep in mind there are several steps to consider and how they have impacted the environment:

-Using building components that can reduce heating and cooling requirements
-Windows that promote saving energy
-Appliances and fixtures that reduce water usage
-Solar or wind powered energy
-Products that are low maintenance
-Use of recycling bins and compost systems
-Reduce or eliminate pesticide treatments
-LED lighting that doesn’t contain mercury
-Products that can reduce environmental impacts

Companies like JBG and Frank Haney have been considered a company who has experts in all areas of development like residential, retail and hotel as well as office areas. For over 50 years JBG Companies have managed and developed properties in the Washington Metropolitan areas. Their unified direction is creating and developing neighborhoods and the businesses that are needed. Being a member who prides itself being responsible and committed to improving the communities in which they build.

Lowe Enterprises has had a hand in over $1.5 billion of development of industrial, retail, multifamily and commercial properties. Their expert teams have properties valued at $1.0 billion that are in development at this time. They value the development of Washington DC and the communities that surround it. Their seasoned construction managers add knowledge and experience to the team. They know about development and what it takes to get you there.

When considering building in Washington DC, choose a contractor who has experience. Do research and ask for recommendations that will help your business. There are alot of contractors in the area, it’s up to you to decide who to trust with your new building. If you’re building ‘green’ it does make a difference on who you choose and how much experience they have in building environmentally favored buildings.

Tax credits that benefit the economy

When you consider the economy and how everyone is trying to make money, then you will no doubt hear about how tax credits are destroying the system and the loopholes need to be closed. The majority of the people that use all of the tax credits are the ones who probably don’t need them anyways. However, when you consider some of the projects that are out there, it actually makes sense that there are tax credits in place to benefit the economy and society as a whole. One such example would be the New Markets Tax Credit that supports the forest based economy.

When you think about supporting a forest based economy, you might not realize just how powerful this is. Aside from all of the benefits of having trees, woods, and general wildlife, there is so much more happiness that cannot be measured purely in economic dollars or profits and losses. However, when you consider the actual output that is generated by having forest based tax breaks, then you can see significant progress being made each and every day.

Some of the top examples of the projects that are used and pursued as a result of this tax break is that loggers will come in to subsidized financing. They can then haul away wood and trees that not only helps with everything from heating and building materials, but it also provides an economic stimulus to all of those workers who do the logging, transporting, and then those who even use the resources of wood just as an example.

In addition, by having more projects in the forest, the economic impact continues to grow further because more rangers will be needed, more project managers and compliance officers will also be involved, and even the people who do vehicle repair service and maintenance on the equipment and trucks will have more work to do.

In short, by putting out a little bit in the form of tax breaks, more people get to go to work and have jobs. That means more food on the table, less people on the social system, and more payroll tax dollars that will more than make up for the original tax breaks. While it might seem like it is an idea that only favors a few, you can easily see why some of these tax breaks actually wind up favoring so many individuals within the general economy as a result.

How Imaginative Methods Are Used To Acquire Real Estate

Real estate development is usually an area of interest for many people, but the ability to participate in the development is usually hard financially, unless you’re Franklin L. Haney. Many real estate owners did not use cash and cheque methods to own the top most, but they had to use other methods to obtain them. There are options to try of probably what one has imagined having the best property from real estate;

I. Using hard money- lenders are the option in real estate, but the efforts could not work if one overestimates the value of the property after some time.

II. Using home equities of established partnerships- home equities are also an option too where one receives a loan with free interest.

There are many options, but the best options fitting for most residents of Washington DC are their own government. The government has been giving the citizens great opportunities of real estate investments through the real estate development corporations with an association with the government. The major goal was to help all people have a chance to own real estate houses especially with the increased growth of communities in Washington DC. Some of the top most companies include:

Washington Realtors
Washington Realtors are a company with an intention of helping local residents of the Washington area obtains property at a price that is affordable for them. Most of the government properties are meant to help all persons get the proper settlement at a good price. The government of Washington since the 1980s has been trying to enable resettles of families through allowing middle-income earners save and through the savings with the government have the ability to get good housing.

WSDOT (Washington Real Estate Services)
The firm is there to coordinate all government relate estate properties and sell them at a price affordable to the middle-income earners. The advantage with WSDOT is that they have the opportunity to give an assurance of safety since the properties are government controlled.

This is a property and land development agency with dealings with the governments in real estate. The firm has ensured that strategies to real estate ownership are smooth, and smooth procedures are followed to get the preferable and real estates.

Many citizens are afraid to participate in real estate associated with the government because of procedures. The Washington government, in this case, has chosen to be related to private developers so as to make people have the courage to buy government real estate properties which were mere imaginations.

An Exciting New Program Stimulates Job Creation in Maine

The State of Maine implemented a statewide program of tax credits based closely on the United States Government’s New Market tax credits program. The CEO of CEI Capital Management LLC, Charles J. Spies III, recently praised this program in a letter reported in the online publication The Forecaster.

Benefiting Maine

Essentially, the state’s New Markets tax credit provision rewards companies that invest in Maine by enabling investors to seek tax credits. This program stimulates investment.

Incentives exist when financiers invest money for work on projects located within the borders of the State of Maine. Recently, three projects covered by the plan received favorable public comment in the “Short Relief” column authored by Haley Frank. Mr. Spies extolled them in his letter for assisting the local economy. These projects based in The Pine Tree State reportedly received input from CEI Capital Management LLC. They occurred under the auspices of the Gulf of Maine Research Institute, Portland Public Market and Farnsworth Museum.

Some Federal and State Distinctions

Many investors have obtained tax credits under both the Maine and the federal New Markets programs. At least two significant differences exist between the state and the federal versions, however. Unlike the federal program, the state’s tax structure envisions that investors must obtain approval from the plan’s Board of Directors in Maine before New Market tax credits will issue.

Additionally, the federal government does not furnish refundable tax credits, but Maine’s program does. An investor who does not possess any liability for taxes due in the State of Maine can therefore seek a cash equivalent by investing funds in projects within the state that receive approval for New Market tax credits.

Economic Stimulation

Mr. Spies reported that his firm’s activities helped reinvigorate the local economy in Maine with 22 unique projects furnishing a total of $274,000,000 in total New Market Tax Credits. These efforts helped preserve some 1700 existing local jobs, while also promoting the growth of over 450 construction positions in the state. Mr. Spires believes the projects offered valuable support in promoting renewable resources in forested parts of Maine, also.

He expressed the hope that the United States Congress would renew the federal New Markets tax credit program soon. His letter also urged state legislators to consider renewing the program at the state level very shortly, as well.