U.S. construction spending rose unexpectedly in September as investment in public projects touched the highest level in more than a year, a government report showed on Monday. Get the full story »
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Lincoln Park 2520 condos back on track
Ricker-Murphy Development LLC and Lake Tower Development LLC, a GE Pension Trust affiliate, announced Monday that they had secured a $170 million construction loan needed to complete the long-delayed Lincoln Park 2520 high-rise.
The development, on the site of the shuttered Columbus Hospital, opened a sales office and began selling units in early 2007 as the credit markets were collapsing. Thirteen months ago, the size of the Lucien Lagrange Architects-designed tower was trimmed, to 198 condos in 33 stories, from 292 units in 41. However, Ricker-Murphy said Monday it received approval for 229 residences in three connected towers — a 22-story north tower, a 39-story central story and a 16-story south tower. The condos will sell for $1 million to $5.7 million, excluding penthouses that will be priced at up to $11 million. Get the full story »
