Archive for September, 2014

19 Sep 2014

Southeast Fort Worth to get a new YMCA

Source: Star Telegram

ymcaAfter several years of planning and clearing a series of what seemed like insurmountable hurdles, the YMCA of Metropolitan Fort Worth is taking its first major step toward building a new facility in the southeast quadrant of the city.

YMCA officials and other community and civic leaders made it official at a land dedication ceremony on Thursday, where they also announced the launch of a $10.6 million capital campaign to fund the project.

The Y will need all of that money to help build the new Renaissance Square facility, which will merge two smaller and aging branches into one new and spacious structure, complete with an array of community services.

The new center is expected to feature a gymnasium, preschool, demonstration kitchen, community meeting rooms and a community garden, among other things, and serve as many as 4,000 residents.

5 Sep 2014

Amon Carter Foundation kicks in $1 million toward YMCA campaign

Source: Fort Worth Business Press

By Scott Nishimura

The Amon G. Carter Foundation has committed $1 million to a $10.6 million capital campaign that will go to build a new YMCA of Metropolitan Fort Worth branch at the burgeoning Renaissance Square development in Southeast Fort Worth and make improvements to the Y’s Camp Carter and athletic fields in south Fort Worth.

Tony Shuman, the YMCA of Metropolitan Fort Worth’s chief executive, confirmed the amount of the gift at a land dedication Thursday for the planned $8.3 million Renaissance Square branch. The largest part of the gift is expected to go toward the new branch, John Robinson, executive vice president-grant administration of the Carter Foundation, said in an interview.

The branch has been envisioned to become a hub for health and educational services in the underserved area. Walmart, anchor of the retail side of Renaissance Square, has helped draw numerous other retailers since opening in 2013.

4 Sep 2014

More Commercial Real Estate Execs Expect To Increase Capital Spending

More Commercial Real Estate Execs Expect To Increase Capital Spending Amid Tepid Economic Growth In 2014, KPMG Survey Finds More Commercial Real Estate Execs Expect To Increase Capital Spending Amid Tepid Economic Growth In 2014, KPMG Survey Finds

Source: PR Newswire

NEW YORK, Sept. 3, 2014 /PRNewswire/ -- Amid slow-but-steady economic growth, more commercial real estate executives are looking to develop assets and deploy capital in secondary markets to generate returns, according to the 2014 Commercial Real Estate Outlook Survey conducted by KPMG LLP, the U.S. audit, tax and advisory services firm. Of the 100 senior commercial real estate executives surveyed, 68 percent expect to increase capital spending in 2014, up from 60 percent in 2013.

Forty-four percent of executives said their company is finding quality investment properties in the marketplace, but not at prices that deliver sufficient returns. When asked which types of properties their company would be looking to acquire/invest in, respondents said Class A assets in primary markets (25 percent, down significantly from 48 percent in 2013); development opportunities (24 percent, largely unchanged from 25 percent in 2013); distressed assets (17 percent, up from 7 percent in 2013); Class A assets in secondary/tertiary markets (16 percent, up from 12 percent in 2013); Class B/C assets (14 percent, up from 3 percent in 2013); and "other" (4 percent).