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WASHINGTON -- Housing construction plunged in August, falling to the lowest level in more than three years as the once-booming industry showed further signs of a dramatic slowdown. The Commerce Department reported Tuesday that construction of new homes and apartments fell by 6 percent, the third consecutive decline and a much bigger setback than analysts had been forecasting. The weakness pushed the annual rate for construction down to 1.665 million units, the slowest pace since April 2003. Meanwhile, wholesale prices edged up a modest 0.1 percent in August, and outside of energy and food, prices actually fell for a second straight month. That hadn't occurred in more than three years, the Labor Department said. Analysts said the slowdown in inflation should reassure the Federal Reserve that it can continue to keep interest rates on hold.
The Clarendon police have not yet established a motive for the killing of a 23-year-old man whose body was found Wednesday on a premises where a church is being constructed. The body of Cleon Williams was found on the premises in Nineteen Miles in the parish.
Crime Chief for Clarendon Deputy Superintendent Cleon Marsh told the RJR News Centre the police were called to the site by residents.
At about 11:05 am the police were summoned to an address in Nineteen Miles, Clarendon where upon investigation we came upon the body of Cleon Williams, a 23-year-old carpenter of a Nineteen Miles address. He had what appeared to be gunshot wounds, said DSP Cleon Marsh.
It is early days in the investigation so we have not yet determined a motive. But the police have a few leads that we are currently working on and we are very optimistic that we will make a breakthrough in this latest homicide, he continued.
GALLOWAY TOWNSHIP — They're mad as hell and they're not going to take it anymore. That may be the new slogan for the Galloway Township Council when it comes to developers not living up to the standards they promise before building communities in the township. At Tuesday's Township Council meeting, developer Tradition Homes' bond-reduction request was denied. Reasons cited for the denial included drainage problems and tree removal and planting. Councilman Mark Hanko, who has repeatedly spoken out against developers not practicing what they preach, did not hold his tongue at the meeting, stating that he would combat any developers who would attempt to regain their money after doing a “bad job." “The message should go out that we're just going to keep your money until the job's done right," Hanko said on Tuesday.
(RTTNews) - Wednesday, Feldman Mall Properties, Inc. (FMP | charts | news | PowerRating) announced that it closed the joint venture agreement with an affiliate of Heitman in connection with Colonie Center Mall located in Albany, New York. According to the joint venture agreement, Heitman will contribute 75% in the joint venture equity. The company will retain 25% of the total equity in the property. The company will continue to manage the property and will receive customary management, construction and leasing fees. In connection with the recapitalization of the mall, the company has refinanced the $50.7 million first mortgage bridge loan with a new construction facility with a maximum capacity totaling $109.8 million. The new construction loan matures in October 2008 and has an all-in fixed interest rate of 6.84%.
A project to revitalize the courtyard at McKeesport High School promises to transform the under-used area into a space for outdoor learning and relaxation. Funded by the McKeesport High School Alumni and Friends Association, the project is being carried out by teachers and students from the school's vocational department. When it is finished in the next one to two years, the grassy rectangular yard surrounded by the high school will feature an elevated seating area which will be suitable for classes, a display fountain, wooden benches, new sidewalks, dogwood trees and a new access point from the library. The cost of material is expected to be $40,000 to $50,000, according to vocational education director and project overseer Julia Stewart. She said other costs would be negligible because teachers, students and staff maintenance workers are providing the labor on school time.
Alabama 4-H will start construction this week on a $7 million Environmental Science Education Center on Lay Lake that takes its mission to heart right down to how the facility is built. The 17,500-square-foot, two-story project is seeking a gold certification in Leadership in Energy and Environmental Design from the U.S. Green Building Council. The council recognizes projects where the construction methods, materials and design have a minimal impact on the environment and incorporates energy efficiencies and other practices. To get gold certification a design has to earn 39 points based on the council's criteria. The Alabama 4-H Environmental Science Education Center is designed to qualify for 45 points. It's a fitting approach given the building's mission to teach Alabama youth and educators about protecting and enhancing the environment.
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.
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