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The full Beacon Apartments complex is planned to consist of 160 apartment units at 1201-1235 Long Beach Blvd. Construction work began this week, said Brian D’Andrea, senior vice president of developer Century Housing . Beacon Apartments has two major components, D’Andrea said. Its first phase, called Beacon Place, is designed for homeless veterans receiving aid through the federal government’s Veterans Affairs Supportive Housing, or VASH, program. Plans call for Beacon Place to feature 29 units for veterans. D’Andrea expects the project to be ready for veterans to move in by spring 2019. The second phase of Beacon Apartments, called Beacon Point, is not yet under construction. Beacon Point’s designs call for 121 apartment units to be reserved for low-income seniors. Century Housing is still working to put together a financing package for Beacon Point. Beacon Point is one of several in-progress developments Mayor Robert Garcia included in his Construction loan Perth Oak Laurel South Perth, www.oaklaurel.com.au 2/23 Bowman St, South Perth WA 6151 recent “Building a Better Long Beach” event that took place June 6 at Beverly O’Neill Theater. Besides previously known projects, Garcia and Cal State Long Beach President Jane Close Conoley also revealed plans to build a 22-story tower for students and faculty in downtown Long Beach. The presentation included other projects that, like Beacon Apartments, are planned to include residential units to be offered at below-market rental rates: • A proposed residential complex at 1795 Long Beach Blvd. is planned to include 101 affordable units and 2,000 square feet of ground-floor retail space, according to Garcia’s recent presentation. • Another proposal for 1900-1940 Long Beach Blvd. has a design calling for 95 units to be set aside at affordable rates for residents with special needs. • Another proposed affordable housing project, also in central Long Beach, is set to have 92 residential units in addition to space for retail and restaurant operators, as well as a health clinic.
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That’s less than the already discounted price of 99.5 cents it was sold at. Banks typically price a loan to enable trading that results in a pop on the debt price after the deal has been allocated. In this case, JPMorgan, which led the deal, seems to have miscalculated demand for the loan that has left some investors flustered, said the people, who asked not to be identified because they’re not authorized to discuss trades. A spokeswoman for JPMorgan Chase & Co. declined to comment. A representative for Norwalk, Connecticut-based Frontier didn’t respond to a call seeking comment. The company, which has almost $18 billion in debt and is facing declining revenue, has seen its credit rating cut by both Moody’s Investors Service and Fitch Ratings in the last week. The single B rating that it carries from all major ratings firms is a level consistent with a company that is considered to carry high credit risk. The new loan pays interest of 3.75 percentage points more than lending benchmarks, according to people with knowledge of the matter. Exclusive insights on technology around the world. Get Fully Charged, from Bloomberg Technology. Frontier has spent the past few years buying up landline telecommunications assets from Verizon Communications Inc. and AT&T Inc. to expand its revenue base. Though these deals helped double the size of the company, Frontier has been losing phone and internet subscribers in droves to cable competitors, which has pressured sales and its stock price.
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