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The Eugene City Council on Monday approved a $450,000 loan to give a key boost to a downtown apartment project. The city loan will help plug a financing gap that has led to a delay in the start of the proposed WestTown on Eighth apartment complex, next to the WOW Hall. "I look forward to getting this project moving so we can have more people living downtown," said Councilor Andrea Ortiz. WestTown's developer, Eugene-based Metropolitan Affordable Housing Corp., plans to build 102 apartments for low- to moderate-income residents. Rents would range from $478 a month for a studio apartment to $738 for a two-bedroom apartment. .
Every day, new information comes along to help investors make financial decisions. And as previous articles in this ongoing "Understanding Economic Data" series have discussed, releases of economic data on topics such as the U.S. current account and the Producer Price Index not only affect the financial markets those investors are involved in but also provide keys to understanding the overall economy. Today, we'll take a look at economic data as it relates to the housing industry. We'll help you understand how the numbers are calculated and what they mean to the economy. With the boom in the real estate market over the past several years, the health of the economy has become increasingly dependent on business activity related to housing. Conversely, homebuilders such as Pulte (NYSE: PHM), Toll Brothers (NYSE: TOL), and Centex (NYSE: CTX) rely on a healthy housing market to sell their products.
TO GET into the Calvi Ranch, a rambling spread in the corrugated hills above Bodega Bay in southern Sonoma County, you have to drive past a thicket of signs with slogans saying "No Quarry on the Coast" and "Save Bay Hill Road" and "Corporate Profit or Nature Preservation?" The placards are part of a grassroots campaign to prevent a Marin County mining, dredging and marine construction company from buying this rugged rangeland for an open pit rock quarry similar to its controversial San Rafael Rock Quarry. Environmentalists fear the Dutra Group - the company that has rankled neighbors who complain about its noisy, dusty quarry operation along Point San Pedro Road - has long-term plans for the Calvi property, one of the last unprotected ranches on the Sonoma coast. They argue that a rock quarry would have dire environmental consequences from dynamiting and digging into the fragile coastal landscape.
BERLIN, N.H. News that federal officials have approved construction of a medium security prison in Berlin (New Hampshire) is drawing mixed reaction. City officials say they're happy because the prison will bring good jobs. But some other residents in the region say they're worried about their safety and the prison's impact on the environment. Lucille Saint-Onge Hickey in nearby Milan (MY-lan) says Berlin officials never gave the residents in other towns a chance to vote on the prison. Donna Roy, also of Milan, says the area planned for the federal prison is a beautiful area for hiking and fishing. She says the prison just doesn't belong. Plans call for a construction contract to be awarded this spring. Construction is expected to take about three years. Copyright 2006 Associated Press.
MORE women should take up careers in the construction industry, says a Cardiff-based house builder. Women make up just 10% of the UK construction workforce, and just one out of every 100 tradespeople is female. Nick Kurobasa, regional director for affordable housebuilder and regeneration specialist Lovell, said the industry offered good jobs in a variety of roles including management and trades such as carpentry. He said women were shunning construction because of its image, but the reality was very different. "The industry is now very much focused on quality, customer service and a 'considerate construction' approach, which is fast changing people's perceptions," he said. "The working environment and culture is far better now. Forward-thinking companies such as Lovell realise that women are helping significantly with this change process.
When was the last time somebody credible offered you thousands of dollars in free money? For most of us, that just doesn't happen every day, or ever at all, for that matter. However, if you are considering purchasing your first home, there are very credible sources that genuinely do want to give you thousands of dollars in free money. Those sources are state and federal agencies, and the thousands of dollars of free money available comes to you in the form of a cash grant to help you buy your first home. It is no secret that saving for a down payment and closing costs is the largest obstacle that first time home buyers must conquer. For millions of Americans, this obstacle is one that is nearly impossible to over come. After paying monthly rent, utilities, food, insurance, car payments, (as well as the high price of gasoline), clothing, phone bills, day care for the children, and many more recurring monthly bills, there is virtually no money left to set aside to save for a down payment for a future first home.
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