Levine Properties, Raley Miller seek rezoning for mixed-use project at Providence and Fairview

Levine Properties and Raley Miller Properties are seeking a rezoning for nearly 11 acres at the corner of Providence and Fairview roads so they can develop a mixed-use project with up to 100,000 square feet of commercial space and up to 225 residential units. The site includes the 109-unit Carmel on Providence apartment complex as well as a Circle K convenience store next door. An affiliate of Raley Miller Properties owns the Carmel on Providence land, but Levine Properties owns the apartment complex…

Crescent’s Inn at Palmetto Bluff ranked third on U.S. News’ best-hotels list

A Crescent Communities resort ranks third on U.S. News & World Report's list of the "2015 Best Hotels in America." The Inn at Palmetto Bluff, in Bluffton, S.C., was third on the publication's list, behind The Lodge at Sea Island in Sea Island, Ga., and Rancho Valencia Resort & Spa in Ranco Santa Fe, Calif. As previously reported, The Ritz-Carlton, Charlotte was ranked No. 72 on the list. Crescent is investing more than $100 million to expand the Inn at Palmetto Bluff. The expansion will add 150…

Lenox Development Group to start construction at Blakeney Commons

Lenox Development Group expects to start construction in April on the first of three 10,000-square-foot retail buildings proposed for a 6-acre site near the Blakeney retail center in south Charlotte. Lenox Salons will lease 5,000 square feet in the first building, which is scheduled to be complete by early spring of 2016, says Eric Vargosko, who heads Lenox Development and Lenox Salons. The development, called Blakeney Commons, is to be built on the north side of Ardrey Kell Road, near the intersection…

87 Percent of U.S. Homes Qualify for Down Payment Help

RealtyTrac recently released a Down Payment Resource (DPR) on the availability of down payment programs across the country. Out of more than 78 million U.S. single family homes and condos, more than 68 million (87 percent) would qualify for a down payment program available in the county where they are located based on the maximum […]

Effective Rate on New Home Loans Continues Downward Drift

On average, the contract rate on conventional mortgages used to purchase newly-built homes, remained a constant 4.03 percent in December, according to data released yesterday by the Federal Housing Finance Agency (FHFA). However, initial fees and charges on the loans dropped form 1.23 percent in November down to 1.16 percent. As a result, the average […]