Latest news with #Edens
Yahoo
06-04-2025
- Business
- Yahoo
Bigelow Homes requests $4.4M in city support for affordable housing development in Rochester
Apr. 6—ROCHESTER — A $4.38 million investment of Rochester sales tax funds is being requested to support the development of 419 for-sale homes by a local builder. Through the city's Home Ownership Creation Program, the funds would support Bigelow Homes' planned Westbury development, which is proposed on roughly 60 acres east of 60th Avenue Northwest and south of King Arthur Road. A report prepared by Taryn Edens, Rochester's assistant director of economic growth, states that the financial support from the program created in 2024 would help provide homes for purchase at reduced costs. "The development proposes that 100 of the homes to be priced below $426,100, ranging in price between $350,000 and $380,000, and the remaining for-sale homes to be priced below $500,000," she wrote in the report to the Rochester City Council. The Westbury project calls for the development of a mix of two-, three- and four-bedrooms, standalone single-family homes. Housing styles are expected to include split-levels, two-story homes and homes without a basement. Council members are slated to review the request during their 6 p.m. meeting Monday in council chambers of the city-county Government Center, 151 Fourth St. SE. Edens said the proposed sales prices mean nearly half of the homes will be deemed affordable to households earning up to 115% of the area median income, or roughly $117,000 for a family of four. The proposed Bigelow Homes agreement is similar to one approved last year with North Rock Real Estate, which was awarded $4 million in city support for its effort to build 201 homes — 151 townhomes and 50 single-family homes — on 74 acres located near the intersection of 50th Avenue Northwest and Valleyhigh Drive. The North Rock agreement calls for 19% of the homes to be priced between $368,000 and $422,000 to meet the 115% AMI threshold. The Home Ownership Creation Program provides up to $20,000 in upfront subsidies per home when the developer agrees to sell a designated percentage of the homes at prices deemed affordable for households earning 115% AMI or less. For developments of 200 homes, developers are required to sell at least 15% of the homes in the required price range, and the agreement with the city outlines the period of time they are required to be owner-occupied to avoid conversion into rental housing. Mike Paradise, president of Bigelow Homes, said the city support will help keep more homes at more-affordable prices in a market where prices in the $500,000 range have been more common due to land and development costs, alongside the expense of building the homes. In addition to helping reduce costs for development of the homes, the requested city support also aims to meet the need for housing in a timely manner. The city's proposed agreement with Bigelow Homes states the project is expected to be completed within three years from the start of development, but no later than Nov. 1, 2029. The Bigelow Homes application for city support estimates the project could be completed earlier than required, and Paradise has noted that the rate of development will likely depend on the company's ability to obtain financing to support the construction of multiple homes at the same time. Meetings scheduled to be held during the week of April 7 include: Rochester —City Council, 6 p.m. Monday in council chambers of the city-county Government Center, 151 Fourth St. SE. The meeting will livestream at and be available on Spectrum cable channel 180 or 188. —Airport Commission, 2 p.m. Tuesday in the administration conference room of City Hall, 201 Fourth St. SE. —Sustainability and Resiliency Commission, 4:30 p.m. Wednesday in room 104 of City Hall. —Planning and Zoning Commission, 5 p.m. Wednesday in council chambers of the Government Center. Olmsted County —Housing and Redevelopment Authority, 4 p.m. Thursday in board chambers of the Government Center. Rochester Public Schools —School Board, 5:30 p.m. Tuesday in the boardroom of the Edison Building, 615 Seventh St. SW.
New York Times
01-04-2025
- Health
- New York Times
Bucks' co-owner Wes Edens ‘optimistic' team can make a playoff run despite Damian Lillard injury
MILWAUKEE — The Milwaukee Bucks held their second annual Sixth Man Soirée at Fiserv Forum on Monday. The event benefited the Milwaukee Bucks Foundation, offering guests the chance to support the foundation as well as its anchor program, Bucks Health and Wellness. This year's fundraising effort supported the foundation's latest initiative to fight obesity in the Milwaukee community. More than 500 people have participated in the program since its launch in 2024, according to the Bucks. Advertisement 'We started this program over a year ago,' Bucks co-owner and current governor Wes Edens said. 'The real purpose of it was to take these, really miracle drugs, these medication drugs, which are expensive and they're out of the reach of a lot of people, and then create a program around that to basically then take those drugs and medications, give them to people that couldn't afford them otherwise, and then most importantly bring in a health and wellness program to back it up. 'So we work with the sports science group here at the Bucks, which is world-class, to provide a nutrition and fitness program for them. And in doing so, we've got almost 600 people in the program right now, and they've collectively lost like 8,000 pounds. We talk about all the things in the world, obesity is probably the No. 1 disease. It's actually considered a disease, one out of two Americans almost. It affects everything. It affects your cholesterol levels, blood pressure levels, pre-diabetes, but also your mental health. A person who is struggling with their weight a great deal has a lot of other things to deal with. So I think that this is something we're very focused on.' A Bucks spokesperson said that 550 people attended Monday's fundraiser and the team raised more than $2.5 million on the night. While he talked with reporters about the event and the fundraising efforts, Edens also talked about basketball and his expectations for the Bucks in the postseason, the latest in NBA ownership news and the reasoning behind Milwaukee's trade deadline moves. (Editor's note: This interview has been lightly edited for clarity and length.) The playoffs are two weeks away. This team has dealt with some unexpected injuries and absences this year and it's tough to know when Damian Lillard will return. So what are your expectations and excitement level heading toward the postseason? Health is everything in the NBA and we've been a little bit snakebit around the playoffs the last four years. Dame's No. 1 objective, our objective for him, is to be healthy as a person. He's an amazing basketball player, but he's also an amazing person. We want him healthy. And so I have no idea what that means for him in the short term or long term. And you can only play the game with the people who suit up for it. We'll get Bobby (Portis) back here in a few days. We've got a great team, I think, otherwise. Advertisement You've seen us have some good results. The last couple of weeks have not been what we wanted, but it's a long season, and I'm optimistic that with Giannis (Antetokounmpo) and his leadership and the other players that we've got, we've got a strong core and so let's let's play with it. The one thing I learned in this sport is that nobody feels sorry for you. Everyone's had a deal with their injuries and maybe we've had more than our share (with) some of the stars these last three, four years. But I'm optimistic this team can make a real run of it, so let's see. Junior Bridgeman purchased a 10 percent stake in the club in September, but with his sudden passing on March 11, is there a process in terms of finding some clarity on what will happen with that part of ownership? I'm so saddened by the passing of Junior Bridgeman. I was just getting to know him. He's been around the team for some time but getting to know him the last number of months. Went to the service in Louisville and was incredibly touched at the impact he made on so many people. I think that there's a saying, 'Hard to make a dollar, much harder to make a difference,' and he made a difference to a tremendous number of people. He and his family deserve so much credit for (their) impact. It's such a tragedy that he was not able to reach his full expression as an owner. He was coming into it. He's a pretty understated, almost shy person, especially when you consider all his many accomplishments. But it's just … life is not always fair and so I'm sorry for him and his family that he didn't experience it. And I'm sorry for us as owners and for the Bucks organization and the fans that he was not able to be an owner longer. I presume (the Bridgeman estate must work through his affairs). He clearly wasn't expecting to pass and they still have a lot of stuff to sort through, their … significant assets and whatnot. So, they'll work through that. Advertisement What are your thoughts on the Boston Celtics being sold for $6.1 billion, the highest value for a North American sports franchise? (Celtics governor) Wyc (Grousbeck) is a close friend and I'm so happy for him and his family. I mean, I think that the valuation kind of surpassed what everyone's expectations were. The Celtics are an incredible franchise and deserve all the valuation they got. It's a good time for the NBA. We had our league meetings last week and we talked a lot about the European opportunity, which I think is going to develop over the next couple of years. That is a monumental step. Because if you look around the world, I'm an investor in the Premier League (with Aston Villa) and nobody owns world soccer. There's Premier League, then there's La Liga, then there's Serie A, there's Bundesliga and so on. In basketball, the NBA can kind of own basketball around the world and be the brand setter for all this. I think going and starting a league in Europe is a bold step. I think it has tremendous promise. If you look at the number of athletes (who) come out of Europe, it's a very long list. Many of our most recent MVPs are out of there, but there's so much talent there and I think putting a league with this kind of imprimatur with the NBA on the continent is exciting. I think it's an exciting time for the NBA, broadly speaking, and I think the valuation of the Celtics is going to reflect that. Where might NBA expansion fit with the conversation of a European league? I don't think it's either/or, from my perspective. There's not been a decision made about that yet. There's been a lot of speculation. I think it's a very healthy thing when people are eagerly looking for franchises. It just shows you where it is and there could be some amazing cities that you can imagine that are out there. I don't think it's mutually exclusive at all. There have been many changes to the All-Star Game — what are your feelings on that and where does Milwaukee stand with its chances to land one? There's been a lot of attempts (at changes) and it hasn't worked out quite as well as we wanted. It's not for a lack of trying. I think when you look at the impact it's had on social media, it's at like a billion views. A billion views of anything shouldn't be considered a failure in my view. There's a lot of good about it. We'd all love to see the competitive games that we used to see in the '80s and '90s but the world has moved on in a lot of different ways. There's lots of talk about different things they can do and different formats. They're going to keep trying. But it's not just us. NFL football is now a flag football game. There's a lot. To have a chance to showcase your best athletes, give fans a chance to get close to them, that's the part about it — the celebration of the game and I think that is very successful. The game itself needs a little bit of work. With respect to Milwaukee, I think we have a deserving venue. As they add more hotel rooms in the city here — that's a big part of it — can you stage this? I would be a huge fan and would be honored if there was a game here. Next year, they're headed back to L.A. and it's probably a little bit more kind, weather-wise, in the middle of winter than Milwaukee but that's OK. There have been cold-weather venues that have done really well in Chicago, and in Toronto and other places. So we'll see. Advertisement The Bucks made a four-team trade at the deadline in February that got the team under the second apron. How has the basketball operations group been affected by the new apron penalties? For the first time, they've included both financial penalties and sporting penalties and so you do not want to be in the second apron if you can avoid it. We have come out of our pockets to put the best team we can on the field and spent a lot of money doing so and have a championship to show for it and a lot of wins. But we always want more. The moves we made at the deadline were basketball moves. And the financial was a part of it, in the consideration of the second apron, but I think that (general manager) Jon Horst and his organization did and recommended what they thought would be best for the basketball team and I think that they did a great job. So, let's see. The season's not over with. So there was no mandate from ownership to get under the (second) apron for financial reasons? No. No. Not at all. None of that. Sign up to get The Bounce, the essential NBA newsletter from Zach Harper and The Athletic staff, delivered free to your inbox. (Photo of Wes Edens: Michael McLoone / USA TODAY Sports via Imagn Images)
Yahoo
04-03-2025
- Business
- Yahoo
New look for west Boca? Shadowood Square set for makeover, demolition of shuttered cinema
BOCA RATON — The Shadowood Square shopping center west of Boca Raton is about to get a major makeover. The owners of the site at State Road 7 and Glades Road will demolish the shuttered Shadowood 16 movie theater — which seated nearly 3,000 people — and a communication tower and then gut three other buildings. Six new buildings will be constructed to accommodate 50,000 square feet of retail stores and restaurants, all with outdoor dining. The new venues will also include a fitness center, a car wash and a tire store. Palm Beach County commissioners on Feb. 27 approved the zoning changes that will allow the reconfiguration of the shopping center to move forward. Boynton Mall update: Mall owner purchases Macy's building - what does it mean for future? South Carolina-based Edens, a national retail real estate developer, acquired the 339,343 square-foot shopping center in August 2023. It said the population growth in suburban Boca Raton had created an increased demand for "modern and relevant retail experiences." The movie theater opened in 1987 and closed in January 2023 after its owner, Cineworld, filed for Chapter 11 bankruptcy. It had a reputation built over decades for being one of the few spots to see smaller independent films alongside blockbusters. The matinees once drew crowds to the shopping center and it served as the plaza's anchor. County Commissioner Maria Sachs called Shadowood, which is located in her south county district, an "iconic development that has been a real community meeting place." She urged Edens to consider using part of the 35-acre parcel for housing — and to find a book store to replace the Barnes & Noble that closed last year. Edens' agent, Scott Backman, responding to Sachs, said efforts are under way to bring in a book store and possibly housing as well. An Edens spokesperson declined to say what retail tenants would be moving into the new center. Edens also redeveloped the Lakeside Centre complex at Glades Road and Florida's Turnpike about 2 miles east of Shadowood Square. Edens expects the project to revitalize the Glades Road and State Road 7 corner. "Redevelopment plans will draw on our deeply rooted placemaking philosophy to deliver a curated and elevated destination to the Boca community," Edens said in a news release issued when it bought the shopping center for $88.4 million from a partnership led by Miami attorney Evelyn Langlieb Greer. In documents submitted to the county, Edens said available land for commercial retail is limited and that it would be desirable to redevelop existing older commercial centers such as Shadowood. It noted that the county's zoning code encourages such redevelopment. When the work is completed, there will be parking for 1,356 cars, 13 more than what is required. Plans call for reconfiguring of parking areas near the new buildings, as well as for paving and drainage, water and sewer improvements. The county is requiring that landscaping along Glades Road contain one 12-foot native tree every 30 linear feet. The makeover will reduce the building square footage on the property by about 4,000 square feet, according to documents submitted to the county. After the makeover is completed, the square footage will actually be reduced by about 4,000 square feet, according to documents submitted to the county. 'Shadowood is an exciting addition to EDENS' Florida portfolio," said Nicole Shiman, senior vice president at EDENS when it purchased the shopping center. She said the company hopes its plans "will resonate with the local community." Mike Diamond is a journalist at The Palm Beach Post, part of the USA TODAY Florida Network. He covers Palm Beach County government and issues impacting homeowner associations. You can reach him at mdiamond@ Help support local journalism. Subscribe today. : This article originally appeared on Palm Beach Post: Shadowood Square plans new stores, restaurants in west Boca Raton
