A little more than two weeks ago, White House officials contacted Mayor Luke Ravenstahl, Allegheny County Executive Dan Onorato and other officials with two questions: Would they be interested in hosting an international event and could they keep it a secret? That set off a frenzy of meetings and telephone calls among government, business and… Continue reading »
May
28
Georgia firm rents foreclosures to those who can’t buy
Tim Cabrera eyes the unwanted artwork gracing the interior walls of the house his company just bought: Long streaks and swirls of red and blue spray paint. The graffiti, probably the work of neighborhood kids, stretches from the kitchen to the upstairs bathroom of the foreclosed home. Even the carpeted staircase has been tagged. “Unbelievable,”… Continue reading »
May
28
1 in 8 U.S. homeowners late paying or in foreclosure
One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday. Read the full article from Reuters here.
May
19
URA will aim for $6 million in Recovery Act funds
Pittsburgh’s Urban Redevelopment Authority on Thursday voted to shoot for nearly $6 million in federal Recovery Act funding for three Pittsburgh projects. The board voted to apply for a $2 million grant for the Bakery Square project, a redevelopment of the former Nabisco Bakery on Penn Avenue which is being turned into a mixed-use development… Continue reading »
May
19
Federal money sought to link lower Hill to Downtown
Four lawmakers are seeking federal funding for a curving landscaped walkway at the new hockey arena and a giant “cap” over part of the Crosstown Expressway to better connect the Lower Hill District with Downtown. U.S. Sen. Bob Casey and U.S. Reps. Mike Doyle, Jason Altmire and Tim Murphy have requested a total of $9… Continue reading »
May
13
House passes measure to curb nontraditional, exotic lending
The House on Thursday approved legislation to rein in the exotic and nontraditional lending practices that helped fuel the U.S. housing boom and bust. The legislation, which passed 300-114, strengthens rules for mortgage originators, brokers and securitizers to help ensure consumers don’t end up with home loans they can’t afford. The provisions curb upfront broker… Continue reading »
May
13
House approves anti-predatory mortgage bill
Predatory mortgage practices faulted for damaging the global economy and financial markets are one step closer to tighter restrictions, following a Thursday afternoon vote by the U.S. House of Representatives to approve legislation. The House voted 300-114 to approve H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act, which would take steps to ensure that… Continue reading »
May
13
HUD and DOT Parntnership: Sustainable Communities
U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and U.S. Department of Transportation (DOT) Secretary Ray LaHood today announced a new partnership to help American families gain better access to affordable housing, more transportation options, and lower transportation costs. The average working American family spends nearly 60 percent of its budget on… Continue reading »
May
12
Capturing the Value of Transit
With stimulus funding creating new transit projects across the country, now may be a great time to use innovative methods for funding development around transit, say Nadine Fogarty and Gloria Ohland of the Center for Transit-Oriented Development. Portland and Denver are just two communities that have seen property values rise around rail. Read Full Story… Continue reading »