Bank says Ukrop’s suit lacks merit (Roanoke Times)
Roanoke’s Valley Bank asked a Richmond judge last week to dismiss a lawsuit filed by Ukrop’s Super Market claiming that the bank owes millions of dollars for unpaid costs related to construction and delays at the former grocer’s closed Roanoke store.
As housing market swoons, rentals boom in Norfolk (Virginian-Pilot)
The City Council is expected to approve a rezoning today that will allow a 180-unit, $20.7 million upscale apartment development called the Meadowood Apartments to be constructed off North Military Highway. It would be the seventh apartment complex that opened, received city approval or on which construction began in the past year. Moreover, two other apartment complexes have been proposed.
Real estate industry braces for impact of Defense cuts (Washington Post)
It isn’t clear yet how dramatically Pentagon spending cuts announced last week will affect the local real estate market, but they are already making some in the industry uncomfortable.
The worst bet in real estate today: Construction loans (USA Today)
Across the banking system, nearly 17% of construction loans were non-current — at least 90 days past due or otherwise in trouble — at the end of March, a record level and a stark contrast to less than 5.5% for all loans, according to the latest numbers available from the Federal Deposit Insurance Corp. For construction loans on one- to four-family residences, the percentage of bad loans is even worse: nearly 23%.
From Concept to Market–in 10 Months Flat (Entrepreneur)
How one entrepreneur navigated the inventing minefield and brought his idea for bass-thumping travel speakers to life.
Betting on Incubators to Create Jobs (Business Week)
The number of programs that nurture startups is at a record level.
Outrageous CEO Severance Payouts (TheStreet.com)
It’s no surprise Americans get frustrated when hearing about CEOs earning more money in an hour than most Americans earn in a year. It’s one thing when a CEO gets paid millions of dollars for a job well done, but the executives on this list made off with incredibly generous severance and retirement packages, even as they failed their companies.
Bank says Ukrop’s suit lacks merit (Roanoke Times)
Roanoke’s Valley Bank asked a Richmond judge last week to dismiss a lawsuit filed by Ukrop’s Super Market claiming that the bank owes millions of dollars for unpaid costs related to construction and delays at the former grocer’s closed Roanoke store.
As housing market swoons, rentals boom in Norfolk (Virginian-Pilot)
The City Council is expected to approve a rezoning today that will allow a 180-unit, $20.7 million upscale apartment development called the Meadowood Apartments to be constructed off North Military Highway. It would be the seventh apartment complex that opened, received city approval or on which construction began in the past year. Moreover, two other apartment complexes have been proposed.
Real estate industry braces for impact of Defense cuts (Washington Post)
It isn’t clear yet how dramatically Pentagon spending cuts announced last week will affect the local real estate market, but they are already making some in the industry uncomfortable.
The worst bet in real estate today: Construction loans (USA Today)
Across the banking system, nearly 17% of construction loans were non-current — at least 90 days past due or otherwise in trouble — at the end of March, a record level and a stark contrast to less than 5.5% for all loans, according to the latest numbers available from the Federal Deposit Insurance Corp. For construction loans on one- to four-family residences, the percentage of bad loans is even worse: nearly 23%.
From Concept to Market–in 10 Months Flat (Entrepreneur)
How one entrepreneur navigated the inventing minefield and brought his idea for bass-thumping travel speakers to life.
Betting on Incubators to Create Jobs (Business Week)
The number of programs that nurture startups is at a record level.
Outrageous CEO Severance Payouts (TheStreet.com)
It’s no surprise Americans get frustrated when hearing about CEOs earning more money in an hour than most Americans earn in a year. It’s one thing when a CEO gets paid millions of dollars for a job well done, but the executives on this list made off with incredibly generous severance and retirement packages, even as they failed their companies.