Real Estate and Development

Target Sales Jump in First Quarter

Retailer Target Corp. saw sales rise 10.8 percent year over year during the first quarter as shoppers flocked its stores and website at the start of the COVID-19 outbreak. Digital sales skyrocketed 141 percent year over year, while store sales… more

Mortgage Applications Rose Last Week

Mortgage applications rose six percent last week from the previous week, according to the Mortgage Bankers Association, possibly pointing to a home-buying recovery. Meanwhile, purchase volume dropped 1.5 percent year over year, a major recovery from six weeks ago, when… more

J. C. Penney Closing 30 Percent of Stores

In another blow to the retail real estate industry, retailer JCPenney plans to pare back its store count by 30 percent, or 240 stores. It will leave it with about 600 total stores. The company, which operates seven stores and… more

Construction Industry Lost 975,000K Jobs Last Month

April's unemployment rate hit a dismal 14.7 percent, and the construction industry was no different. It lost 975,000 jobs over the month, in an industry that was having trouble finding workers before COVID-19 hit. Though other industries faced a tougher… more

Home Builders Confident Despite Starts Drop

Though the number of homes being built are lat their lowest levels since 2015, home builders are confident about the future, according to a National Association of Home Builders report. Total housing starts dropped 30.2 percent in April to a… more

Q&A With … Mike Boehm, City of Lenexa

Mike Boehm is the major of the City of Lenexa, which has seen major construction growth over the the last few years. Q. Have you seen any delay in the construction of City Center as a result of COVID-19? A.… more

Mortgage Rates at a Record Low

The rate of a 30-year fixed mortgage just fell to 3.09 percent, due to a combination of factors happening in the economy, such as a steep decline in retail sales and other problems with the economy. Meanwhile, as of May… more

J. C. Penney Restructuring Plan Includes REIT

Retailer J. C. Penney, which filed for bankruptcy on Friday, is creating a real estate investment trust to spin off its real estate assets to pay off debt. "By entering this restructuring support agreement with our lenders, we expect to… more

Loews Delays Opening Until June 1

Loews Kansas City Hotel will now open on June 1, following original plans to open last month, due to concerns about COVID-19. “While our opening plans look a bit different than we had originally anticipated, there is no better time… more

GSEs Change Standards for Mortgage Borrowers

Fannie Mae and Freddie Mac are offering new deferral options for mortgage payments. The deferral option starts on July 1, reports the American Bankers Association. Borrowers will reportedly have a variety of mortgage-payment options, says the American Bankers Association. Read… more