Tuesday, April 13, 2010

Cash Infusion for Park Pacific, Laurel

Good news for two important downtown developments: The Business Journal is reporting that the AFL-CIO Housing Investment Trust is investing $63 million in the Lawrence Group's Park Pacific project on Tucker and $45 million in Spinnaker's Laurel  development in the former Dillard's Building at 6th and Washington.

As I mentioned last month, the Lawrence Group had been given a deadline of June 30 to begin construction on the Park Pacific, and expected to have financing in place by the end of April.

The Park Pacific will include 230 apartments and office and retail space, while The Laurel is slated to include an Embassy Suites hotel and 205 apartments.

3 comments:

Chris said...

Thank God!

The Happy Mother said...

Park Pacific financing closed today- construction to start soon!

Anonymous said...

Who's the GC?