Article by Marilyn Geewax
Six years ago, homebuilders and Realtors were facing brutal business conditions: millions of Americans were losing their jobs and homes. As 2015 begins, hiring is strong and economic indicators are pointing up. Could this be the year when the housing market finally breaks out of its tepid recovery and takes off? Economists see several reasons why 2015 might be a banner year for homebuying – and not just in San Francisco and Miami. Finish reading here.
By Kathryn Reed
More than $1 million is about to be infused into the Y in South Lake Tahoe.
Sutter Capital Group based in Sacramento last month bought the Factory Stores at the Y. But don’t expect discount stores to fill the empty spaces. Owners want to revamp this prime piece of real estate that has 51,811-square-feet of leasable space. “Factory stores are outdated for that location,” Burke Fathy, general manager of the ownership group, told Lake Tahoe News. The vision is for a mixed-use retail center that will include a restaurant that would be family friendly.
“Our business plan is to renovate, reposition, rebrand the property, to reinvigorate it and stabilize the assets,” Fathy said. With 33,000 cars passing by the property each day, the location is one of the main things that attracted the real estate management firm. The owners also want to capitalize on the area plan that is in the works for this section of town. A greenway is planned for behind the center where a revamped bike path exists. Finish reading article on www.laketahoenews.com.