Helios Resource to launch new solar panel fab in Russia

first_imgHelios Resource to launch new solar panel fab in RussiaWhile industry watchers see increasing foreign interest in Russia’s growing solar market, tough local content requirements could dampen investment. February 18, 2014 Eugene Gerden Manufacturing Markets Markets & Policy Share Moscow-based Helios Resource is set to launch one of the largest solar panel production facilities in Russia this year. Helios, one of Russia’s leading manufacturers of solar panels, is setting up the new fab in the country’s Mordovia Republic. The full-cycle production line is scheduled to launch in April with an initial capacity of 100 MW per year at the local Electrovypryamitel plant. Helios is expected to increase capacity to 200 MW in the second stage of the project, financial details of which were not disclosed. Analysts and industry watchers welcomed the new project. According to the director of the Russian Association of Solar Energy, Anton Usachev, the establishment of a production facility for components and solar panels in Russia is significant in view of government plans to increase total solar power generation to 1.5 GW by 2020. Usachev added that at present total solar panel capacity in Russia did not exceed 10 MW, while the country’s total energy capacity was at 223 GW.Russian analysts are confident that the new Helios plant will not be the single new project in the field of solar energy to be implemented in Russia in the next several years, as investor interest in the country is steadily growing. However, there is a possibility that projects could be delayed, as some foreign investors are unhappy about the current level of local content requirements for their Russian projects, which is currently set at 50% and set to rise to 70% by 2016.Popular content The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… Spanish developer plans 1 GW solar plant coupled to 80 MW of storage, 100 MW electrolyzer Pilar Sánchez Molina 22 April 2021 pv-magazine.com Soto Solar has submitted the project proposal to the Ecological Transition and the Demographic Challenge (Miteco). The solar plant could start produc… We all trust the PV performance ratio test Dario Brivio, Partner 20 April 2021 pv-magazine.com The performance ratio test is at the core of the handover from EPC to owner. Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… Spanish developer plans 1 GW solar plant coupled to 80 MW of storage, 100 MW electrolyzer Pilar Sánchez Molina 22 April 2021 pv-magazine.com Soto Solar has submitted the project proposal to the Ecological Transition and the Demographic Challenge (Miteco). The solar plant could start produc… We all trust the PV performance ratio test Dario Brivio, Partner 20 April 2021 pv-magazine.com The performance ratio test is at the core of the handover from EPC to owner. Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… 123456Share pv magazine The pv magazine editorial team includes specialists in equipment supply, manufacturing, policy, markets, balance of systems, and EPC.More articles from pv magazine Related content Solar 101: Attaching your PV system to your roof John Fitzgerald Weaver 23 April 2021 pv-magazine.com A solar racking system’s strength is determined in part by the metal racking, but it also depends on the roof’s underlying structure. 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Cracking the case for solid state batteries pv magazine 29 April 2021 pv-magazine-australia.com Scientists in the UK used the latest imaging techniques to visualize and understand the process of dendrite formation an… iAbout these recommendations Leave a Reply Cancel replyPlease be mindful of our community standards.Your email address will not be published. Required fields are marked *CommentName * Email * Website Save my name, email, and website in this browser for the next time I comment. By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. 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SPI Energy nails financing for 4.8MW DG project

first_imgSPI Energy nails financing for 4.8MW DG projectThe Shanghai-based PV solutions provider has secured an eight-year financing deal with the Bank of Jiangsu for an array in Nantong, Jiangsu province. October 21, 2016 Brian Publicover Installations Markets Markets & Policy Share It did not disclose the terms of the agreement.Upon completion, the project will annually generate 4 million kWh of electricity, according to an online statement.“(The deal) speaks volumes about the strong support of the local banking industry and government agencies for clean tech companies, especially for distributed-generation (DG) solar projects,” said Xiaofeng Peng, chairman and chief executive of SPI Energy.Although DG build-out has long been a government priority, the segment has failed to take off as quickly as initially anticipated, partly due to issues related to financing.PV systems can be difficult to insure in China, as they depreciate over time, and many of the country’s major lenders tend to shy away from the relatively unknown developers that specialize in smaller DG installations.In recent years, SPI Energy has led the way in offering Internet-based financing solutions for DG developers via its Solarbao.com investment platform.The company is one of the most active DG developers in China. Last May, for example, it connected 12.8 MW of aggregated capacity in coastal Jiangsu and Shandong, as well as the landlocked, southeastern province of Jiangxi.Although the Internet-financing sector is still evolving, online platforms such as solarbao.com — in addition to crowdfunding methods and peer-to-peer (P2P) lending — have been widely touted in recent years as a potential solution for DG developers struggling to secure capital.This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected] content ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. 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In the Europea… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… Submarine cable to connect 10.5 GW wind-solar complex in Morocco to the UK grid Emiliano Bellini 22 April 2021 pv-magazine.com UK-based Xlinks is planning to build 10.5 GW of wind and solar in Morocco and sell the power generated by the huge plant in the UK. This should be ma… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… The weekend read: PV feed in, certified pv magazine 1 May 2021 pv-magazine.com As more renewable energy capacity is built, commissioned, and connected, grid stability concerns are driving rapid regulatory changes. In the Europea… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… 123456iAbout these recommendationsShare Brian PublicoverMore articles from Brian Publicover [email protected] Related content Asia Pacific’s solarized digitization agenda Selva Ozelli, Esq. 23 April 2021 pv-magazine.com The virtual 7th Asia-Pacific Climate Change Adaptation Forum was hosted in March by Japan’s Ministry of the Environment,… Higher performance with bigger modules a ‘no brainer’ Sandra Enkhardt 26 April 2021 pv-magazine.com Jan Bicker, who replaced Steve O’Neil as the CEO of REC on March 1, says that one of his top priorities is the ongoing d… The weekend read: PV feed in, certified pv magazine 1 May 2021 pv-magazine.com As more renewable energy capacity is built, commissioned, and connected, grid stability concerns are driving rapid regulatory changes. Vortex generators and glass texturing for solar module cooling Natalie Filatoff 26 April 2021 pv-magazine.com New research from Australia has shown that vortex generators and glass texturing have so far proved to be the most effec… African solar installers feel the pinch of rising panel prices Max Hall 26 April 2021 pv-magazine.com With Chinese manufacturers having warned they will pass on escalating component costs, and shipping expenses soaring sin… China’s Covid recovery saw green bond issuance rebound in second half of 2020 Max Hall 27 April 2021 pv-magazine.com The $18bn worth of sustainable finance instruments floated in the nation last year marked a retreat from previous highs … iAbout these recommendations Elsewhere on pv magazine… MIBEL alcanzó nuevamente los precios más bajos de Europa mientras subieron en el resto de mercados eléctricos pv magazine 23 March 2021 pv-magazine.es En la tercera semana de marzo los precios de la mayoría de mercados eléctricos europeos subieron, mientras que MIBEL mar… Tasmanian Labor installs solar at the top of its campaign promises Blake Matich 8 April 2021 pv-magazine-australia.com Tasmania (TAS) is going to the polls on May 1, and the opposition Labor Party has put forth a $20 million plan to fund l… India closing in on 7 GW of rooftop solar pv magazine 13 April 2021 pv-magazine-australia.com India’s cumulative installed capacity of rooftop solar stood at 6,792 MW as of December 31, 2020, with 1,352 MW having b… Spotlight on Australian solar Bella Peacock 21 April 2021 pv-magazine-australia.com Calculating the average sunlight hours data from the Bureau of Meteorology from January toDecember 2020, Darwin was cro… Q&A: EEW’s $500 million Gladstone solar to hydrogen project is just the start Blake Matich 18 March 2021 pv-magazine-australia.com pv magazine Australia: Australia is the testing ground for a lot of different aspects of the future green hydrogen market. Cracking the case for solid state batteries pv magazine 29 April 2021 pv-magazine-australia.com Scientists in the UK used the latest imaging techniques to visualize and understand the process of dendrite formation an… iAbout these recommendations Leave a Reply Cancel replyPlease be mindful of our community standards.Your email address will not be published. Required fields are marked *CommentName * Email * Website Save my name, email, and website in this browser for the next time I comment. By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.Further information on data privacy can be found in our Data Protection Policy.Keep up to date pv magazine Global offers daily updates of the latest photovoltaics news. We also offer comprehensive global coverage of the most important solar markets worldwide. Select one or more editions for targeted, up to date information delivered straight to your inbox.Email* Select Edition(s)*Hold Ctrl or Cmd to select multiple editions.Tap to select multiple editions.Global (English, daily)Germany (German, daily)U.S. (English, daily)Australia (English, daily)China (Chinese, weekly)India (English, daily)Latin America (Spanish, daily)Brazil (Portuguese, weekly)Mexico (Spanish, daily)Spain (Spanish, daily)France (French, daily)We send newsletters with the approximate frequency outlined for each edition above, with occasional additional notifications about events and webinars. We measure how often our emails are opened, and which links our readers click. To provide a secure and reliable service, we send our email with MailChimp, which means we store email addresses and analytical data on their servers. You can opt out of our newsletters at any time by clicking the unsubscribe link in the footer of every mail. For more information please see our Data Protection Policy. Subscribe to our global magazine SubscribeOur events and webinars Roundtables USA 17 November 2020 pv-magazine.com New for this year, the program will be developed and moderated by Eric Wesoff the new editorial leader of the U.S. platform. Household solutions for maximizing self-consumption using smart contro… , pv-magazine.com Discussion participantsRobert van Keulen, Technical Manager, GrowattGautham Ram, Assistant Professor and Researcher, D… Out with the old… A guide to successful inverter replacement , pv-magazine.com Discussion participantsRoberto Arana-Gonzalez, Service Sales Manager EMEA, SungrowFranco Marino, Regional Service Mana… iAbout these recommendations pv magazine print The feasibility of India’s auctions Uma Gupta 7 April 2021 pv-magazine.com The offtaker’s creditworthiness, the ease of land acquisition, infrastructure readiness, policy consistency and clarity,… Australia’s next wave of large-scale solar development pv magazine 7 April 2021 pv-magazine.com Call it “latent energy” – Australia’s renewable resources are expected to help some of the world’s greatest polluters to… A deeper understanding of LeTID Jonathan Gifford 7 April 2021 pv-magazine.com Australia’s University of New South Wales (UNSW) has built a reputation for strong collaboration with the PV industry, f… Dynamics driving insurance costs pv magazine 7 April 2021 pv-magazine.com While utility-scale solar assets are surging in popularity with investors, there are a number of emerging challenges tha… Curtailing corrosion: making mounting structures last pv magazine 7 April 2021 pv-magazine.com Raw material quality is vital for solar power plants, particularly given higher expectations for their lifetimes, as 30+… The ideal format pv magazine 7 April 2021 pv-magazine.com The speed at which manufacturers are introducing changes from one product generation to the next is accelerating – curre… iAbout these recommendationslast_img read more

The Growth Mindset

first_imgHave you ever been scared or intimidated by an idea that we often label as ‘Thrilling’? Like, attempting Paragliding or going for Scuba diving or Bungee jumping? Do you also observe that, once we try it, and finish the sport, the thrill enthrals us in an embrace? In a similar situation, a certain group of people would rather not go ahead with that adrenaline rush and prefer staying an audience, while another set of people would jump on such a rare and magical chance. So why does this happen? Why do some people jump on an opportunity while others sit back and ponder?Often as we face a new challenge, we either hesitate to take it up or quiver at the thought of facing a defeat. It is to be noted that, both above actions are done by people of two contrasting mindsets, one: the growth mindset who hesitates at the beginning but takes the plunge, and the other: the fixed mindset who does not go ahead just by the thought of being a loser.A person of a fixed mindset often opts for a safe bet, meaning, he would like to go after a project that is known to him or he is skilled at that. Success is of utmost priority to such people. They cannot risk a defeat, even if the project promises to be good learning. It hones their ability and inborn traits, but if you are given a new challenge, they would be the most reluctant to explore or even give it a try.Quite contradictory, are the people with a growth mindset. They believe in opportunities, they want to try and overcome challenges, and do not mind taking up a new task. They value the process of learning, more than the result. They put all their efforts into trying to learn something new rather than hovering around their skillset. They are optimistic about learning a new skill or testing their skills which might be hidden and waiting for the right chance to show up.Let us try to understand this more effectively with the example of students. Once a task was given to them as a part of an assignment. On completion, some of them were appreciated as “well done! You have it in you! Way to go”. And some were applauded as, “Well done! You worked hard towards it, you deserved it!”  Now, in both the cases, they were appreciated. But the students who were appreciated for the ability in the first case, believe that they are born winners. The other set, however, were appreciated for their efforts and will tend to always have self-confidence in their efforts and their hard work, which shall encourage them to take up innovative projects in the future and open the gate to the ocean of knowledge.We often see similar cases in professional life. You are expected to be an expert in your field, but at the same time, some job profiles need you to be multitasking and equipped with additional knowledge. Take the example of every household, “Mom, did you see my black t-shirt? I remember keeping it in the wardrobe, it not there? Please find it, I’m running late.” Sounds familiar? Don’t we all go to the lady of the house, to ask for any small stuff of us that we don’t find? We do that, instinctively, because, we believe she would have our solutions always ready. She is multitasking, knows about every detail of every person in the household and their whereabouts, she has a growth-mindset. Whereas, many of us, prefer to go by a fixed mindset and are Kings and Queens of our world.So, as we see, None of the mindsets is good or bad. It is not always possible to experiment or diversify our time and energy into different directions by trying every other task or a project or a course, however, every individual might consider experimentation and explore opportunities in the quest for knowledge and wisdom.Because It is just one life, why not make the most of it? Go off the edge and take the risk, make mistakes, but learn from them, make memories, and most importantly, Live this life.last_img read more

Coppock will continue soccer career at Shawnee State

first_imgPresent at the signing ceremony on Feb. 20 were: Front row, from left, Sarah Phillips (Mother), Drew Coppock, and John Coppock (Father); Back row, from left, Isaac Wooten (NAHS Boys Soccer Coach), Mark Trapp (SSU Men’s Soccer Assistant Coach), and Tony Williams (NAHS Athletic Director). https://www.peoplesdefender.com/wp-content/uploads/2016/03/web1_Coppock.jpgPresent at the signing ceremony on Feb. 20 were: Front row, from left, Sarah Phillips (Mother), Drew Coppock, and John Coppock (Father); Back row, from left, Isaac Wooten (NAHS Boys Soccer Coach), Mark Trapp (SSU Men’s Soccer Assistant Coach), and Tony Williams (NAHS Athletic Director). Photo courtesy of NAHS Athletics North Adams goalkeeper will continue soccer careerBy Mark [email protected] Powered By 10 Sec Best Carrot Cake Ever NextStay Best Carrot Cake EverNOW PLAYINGMama’s Deviled EggsNOW PLAYINGApple Pie Bites With Caramel SauceNOW PLAYINGHawaiian Roll Ham SlidersNOW PLAYINGHomemade Caramel SauceNOW PLAYING5 Easy and Delicious Crock Pot Meatball Appetizer RecipesNOW PLAYINGApple Pie BitesNOW PLAYINGOld Fashioned Soft and Buttery Yeast RollsNOW PLAYINGCream Cheese Cake Mix CookiesNOW PLAYINGHow to Slice & Mince Vegetables Like a ProNOW PLAYINGPumpkin Cream Cheese BarsNOW PLAYINGHow to Knead DoughNOW PLAYINGHow to Use a Meat ThermometerNOW PLAYINGSlow Cooker/Crock Pot HintsNOW PLAYINGHow to Quarter a ChickenNOW PLAYINGHow to Clean Garbage DisposalsNOW PLAYINGHow to Clean Stainless Steel SinksNOW PLAYINGHow to Cook Scrambled EggsNOW PLAYINGHow to Peel Hard Boiled EggsNOW PLAYINGHow to Chill a Drink in 2 MinutesNOW PLAYINGHow to Chop an Onion PerfectlyNOW PLAYINGPerfect Bacon Every TimeNOW PLAYINGSweet Alabama PecanbreadNOW PLAYINGParmesan Baked Pork ChopsNOW PLAYINGPrime Rib Roast Au Jus Perfect Every Time! No FailNOW PLAYING Arrow Left #1 Icon Created with Sketch. Arrow right #1 Icon Created with Sketch. HomeSportsCoppock will continue soccer career at Shawnee State Coppock will continue soccer career at Shawnee StateMarch 1, 2016Peoples DefenderSports0 North Adams goalkeeper will continue soccer career Another local high school student/athlete has made the decision to continue his athletic and academic career at the next level as North Adams senior soccer player Drew Coppock has signed his letter of intent to become a member of the Shawnee State Bears men’s soccer program. The official signing ceremony took place with family and school officials at NAHS on Feb. 20.“I ended up choosing Shawnee for their radiology program,” said Coppock, a goalkeeper by trade. “It’s one of the best around and it is affordable. The soccer program is growing, they’ve already signed five or six exceptionally talented guys that I’ve played with or against and I just wanted to be a part of it.”“I feel that in a year or two the program will be able to compete at a high level again and I also wanted to follow in Coach Wooten’s footsteps.”Coach Wooten is North Adams boys’ soccer coach Isaac Wooten, who himself is a SSU graduate and former goalkeeper for the Bears.“Drew has played goal for me since his sophomore year and improved every day since,” Wooten told The Defender. “He holds the school’s career shutout record, goals against record, and all-time wins for a keeper. Drew has earned his right to play at the next level and has put in the extra time to improve his game. He has been playing soccer year-round and all of the additional training has paid off and he is the complete package.”“Drew had the eye of several universities and much to my liking he chose my alma mater and my old position. I hope he makes the lasting connections that I did while at school. Drew is a great young man who will do wonderful things in life. I have all the confidence in the world in him.”Shawnee State head coach Mark Trapp is looking forward to having Coppock between the pipes for the Bears.“I first saw Drew play the summer before his junior year when he played in our High School Super Scrimmage,” says Trapp. “He was in goal and Coach Wooten told me that I should keep my eye out for him. He also came to our Shawnee Goalkeeper Academy and I really liked his athleticism and coach-ability. In our conference we have a lot of tall forwards so having a tall keeper like Drew will help. He can get to shots that other keepers can’t.”“Drew will compete immediately from day one. We have only one keeper on the roster so he will get plenty of training each day to get ready for the collegiate game.”Shawnee State is an NAIA school, competing in the Mid-South Conference. The Bears finished 6-13 last season. Top Searches Top Searches GolfSeamanTrick Or Treat 2020 Present at the signing ceremony on Feb. 20 were: Front row, from left, Sarah Phillips (Mother), Drew Coppock, and John Coppock (Father); Back row, from left, Isaac Wooten (NAHS Boys Soccer Coach), Mark Trapp (SSU Men’s Soccer Assistant Coach), and Tony Williams (NAHS Athletic Director). – Photo courtesy of NAHS Athletics By Mark Carpenter – [email protected] Reach Mark Carpenter at 937-544-2391 or on Twitter @adamscosports. Reach Mark Carpenter at 937-544-2391 or on Twitter @adamscosports. PreviousTwo people are dead after weekend fire in Blue Creek areaNextLady Devils’ season ends in district finals with 49-36 loss to Ironton Around the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterThis Weird Method Can Restore Your Vision Naturally (Watch)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

New York City Mayor Seeks to Limit Carriage Horses

first_img Horse Sport Enews The New York City carriage horse trade is facing major changes if a proposal spearheaded by Mayor Bill de Blasio is approved by City Council.De Blasio, who promised to eliminate carriage horses in New York City as part of his 2013 mayoral race campaign, wants to see the number horses currently working in the city reduced from 220 to 75.Further, de Blasio’s plan would see a stable built in Central Park to house the horses, by October 1, 2018. This would be the first time in 159 years that the park would contain a stable for commercial carriage horses. The estimated cost of construction is $25-million of taxpayers’ money – a point of contention for many.De Blasio has also suggested that pedicabs (person powered tricycles designed to carry tourists) be banned from operating inside Central Park below 85th Street, thereby eliminating the carriage horses’ top competitor within their operating area.Read more at the New York Times. Email* We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business. Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! SIGN UP last_img read more

Judge signs protective order over materials feds to turn over to jailed financier Jeffrey Epstein

first_imgChristine Cornell(NEW YORK) — Federal prosecutors in New York overseeing the case against millionaire Jeffrey Epstein are preparing to hand over highly-sensitive investigative material to the financier’s defense attorneys after a federal judge on Friday granted the government’s request to place a protective order on the documents.Prosecutors sought the order because, they said in court filings, they intends to produce documents and materials that could…”affect the privacy and confidentiality of individuals…[and that] would impede, if prematurely disclosed, the Government’s ongoing investigation of uncharged individuals.”When Epstein secured a non-prosecution agreement with federal prosecutors in southern Florida in 2008 over a previous investigation, the much-criticized deal also immunized any and all potential co-conspirators, known or unknown, and also included the names of four women who had been suspected by authorities of having facilitated or participated in alleged crimes against children.The deal, which is currently under review by the Justice Department’s Office of Professional Responsibility, allowed Epstein to plead guilty to two state counts and avoid federal charges for an allegedly broad pattern of similar conduct.Throughout the negotiations — and for nearly a year after the agreement was signed — the victims were kept in the dark, their attorneys said, claiming they were strung along as government lawyers promised victims they were still investigating even long after they had cut the deal with Epstein.One of Epstein’s accusers in that investigation, Courtney Wild, identified in court documents as “Jane Doe 1,” sued the Department of Justice in 2008, alleging that the non-prosecution agreement reached with Epstein by federal prosecutors in South Florida was hatched in violation of the Crime Victims’ Rights Act, which enumerates the rights afforded to victims in federal criminal cases, including the right “to reasonable, accurate, and timely notice of any public court proceeding, or any parole proceeding, involving the crime or of any release or escape of the accused.”In February of this year, U.S. District Court Judge Kenneth Marra ruled in favor of Wild and other Epstein accusers, finding that the federal government failed to confer with the victims in advance of the deal. Marra is now considering the possible remedies for the violation, which could potentially include tearing up the non-prosecutions agreement.Epstein, 66 — who at one time socialized with former President Bill Clinton, Great Britain’s Prince Andrew, and President Donald Trump — was arrested on July 6 for alleged sex trafficking of minor girls in Florida and New York. Some of the charges date back to the early 2000s.He was indicted on a child sex trafficking and conspiracy charges in which prosecutors charge that he “sexually exploited and abused dozens of minor girls at his homes in Manhattan, New York, and Palm Beach, Florida, among other locations,” using cash payments to recruit a “vast network of underage victims,” some of whom were as young as 14-years-old.Epstein has pleaded not guilty to the latest charges and his defense attorneys have argued in court that the new indictment is tantamount to “double jeopardy,” the constitutional right that prevents a person from being tried on the same (or similar) charges twice, based on the same facts, following a valid acquittal or conviction.“It is our belief that this is basically a re-do,” Epstein defense attorney Reid Weingarten told the judge at a bail hearing earlier this month. “This is basically the feds today, not happy with what happened in the decision that led to the NPA, redoing the same conduct that was investigated 10 years ago and calling it, instead of prostitution, calling it sex trafficking. We think that is the heart of everything, and that will be the centerpiece of our defense.”At the same hearing, prosecutors claimed Epstein tried to buy off potential witnesses and charged that he had demonstrated a “willingness to use intimidation and aggressive tactics in connection with a criminal investigation.” Prosecutors allege that late last year Epstein wired $100,000 from a trust account to a person who had been named in the 2008 case as a possible co-conspirator of Epstein’s and then three days later wired $250,000 to another suspected co-conspirator.Epstein defense attorney Reid Weingarten did not respond at the time to an ABC News request for comment on prosecutors’ claims of potential witness tampering.Copyright © 2019, ABC Radio. All rights reserved.last_img read more

Clock starts ticking on November 2022 compliance for SEC ad rule

first_imgBut it is principles-based. For instance, it doesn’t explicitly address social media but it does set requirements that can apply to online advertising. It doesn’t require a preapproval process for ads, but the SEC likely will expect firms to have robust controls around marketing.The SEC will seek compliance with the rule but won’t necessarily be nitpicking marketing programs, said Melissa Harke, senior special counsel in the SEC’s Division of Investment Management. The regulation will have a negligence standard rather than a strict liability standard.“We’re looking for reasonableness here,” Harke said during the IAA conference. “A foot fault should not be something that you’re worried about under the new iteration of the rule.”Despite the more expansive advertising allowed by the marketing rule, advisory firms aren’t likely to go the way of car dealerships that use local sports stars to promote their businesses.“This is a community that gets most of their clients by word of mouth,” Barr said. The new regulation replaces the advertising rule that had been in place since 1961, as well as a rule on payments to solicitors that was established in 1979.The final marketing rule — which allows testimonials, endorsements and third-party ratings as long as they comply with anti-fraud protections and other conditions — contains principles-based provisions that can apply to social media communications. The previous rule centered on written communications, television and radio advertisingThe updated regulation was published last Friday in the Federal Register. It becomes effective on May 4, and the compliance deadline is Nov. 4, 2022.“This is a sea change,” said Karen Barr, chief executive of the Investment Adviser Association. “This new set of rules bring advisers into the 21st century.”Advisory firms should dig into the 430-page rule now and formulate a compliance timeline. “Even though it does seem like advisers have a long time to comply with the rule, they should take a deep dive into all the different aspects of the rule and inventory all the different ways they market their services,” Barr said.Firms will have to assess their existing marketing materials and approaches, figure out how to adjust them to the new obligations in the marketing rule, establish policies and procedures and train staff, among other tasks, said Pamela Pendrell, chief compliance officer at GlobeFlex Capital. “This is going to be a huge undertaking,” Pendrell said Friday during the online Investment Adviser Association Compliance Conference. “I’m expecting this is going to take a year. I would suggest a lot of thought and planning.”The SEC approved the marketing rule unanimously — 5-0 — in late December. Although the agency is undergoing a leadership change with Gary Gensler’s nomination as chairman pending in the Senate, no one is expecting the commission to revisit the measure when it has a 3-2 Democratic majority.“There’s a lot of support on both sides of the aisle for this rulemaking,” Sanjay Lamba, IAA associate general counsel, said during the organization’s compliance conference.The marketing rule replaces decades of no-action letters from agency staff that formed the regulatory contours for adviser marketing. It permits past specific recommendations and testimonials, allows third-party ratings and establishes a framework for performance advertising. Investment advisers registered with the Securities and Exchange Commission have until November 2022 to comply with the agency’s new marketing rule. But that doesn’t mean they can relax, because compliance will be a heavy lift that should start now, experts said.last_img read more

Facilities Project Manager – Construction

first_imgIn compliance with federal law, all persons hired will be requiredto verify identity and eligibility to work in the United States andto complete the required employment eligibility verification formupon hire. Qualifications Coordinate projects involving repairs and maintenance ofbuilding and paving, campus signage/wayfinding, campus ADA andaccessibility, furniture installation, and moving.Visit assigned project sites on campus regularly to ensurecompliance with project plans, specifications and universitystandards. Act as a liaison with outside contractors in order toschedule and follow-up on work to be done, minimizing disruption ofroutine school studies. Report regularly on assigned projects.Assist the director in planning and coordinating campus andstate improvement, construction and renovation projects. Assist inthe development and review of plans and specifications forconstruction and remodeling projects.Manage projects from concept through design and construction,including all paperwork and closeout.Maintain accurate project records, compilingdocumentation/records of projects for statistical and historicalpurposes. Prepare requisites, reports and other required documentsand maintain facility plans and files.Accomplish facilities inspections and document deficienciesrequiring correction. Develop projects and/or work orders tocorrect deficiencies identified.Design and draft working and master drawings for constructionprojects. Update facility drawings with any changes.Stay current with construction management practices andprocedures within higher education.Perform miscellaneous job-related duties as assigned; provideback-up to all department staff, assisting to accomplish universitymission where needed. Director of Equity Compliance / Title IX Coordinator: HazelSainsbury – [email protected] , HCC 579, 435-652-7747.Deputy Title IX Coordinator: Abby Del Giacco – [email protected] ,435-652-7731.For further information regarding non-discrimination, please visithttps://titleix.dixie.edu/ or contact:U.S. Department of Education, Office of Assistant Secretary forCivil Rights, [email protected] , 800-421-3481.U.S. Department of Education, Denver Regional Office, [email protected] ,303-844-5695. Supplemental InformationPOSITION DETAILS, COMPENSATION & BENEFITS: Full-timeprofessional staff (overtime-exempt) position. Annual salary of$50,000+ depending on qualifications & experience. Desiredstart date of July 1, 2021. Excellent benefits package includedthat begins on start date; includes medical, dental, vision,employee assistance and wellness programs, life, disability,retirement, undergraduate tuition waivers for employees andeligible dependents, as well as paid holidays in addition to sickand vacation leave accruals. See https://humanresources.dixie.edu/employee-benefits/under “Benefits Summary” for more details.ELECTRONIC APPLICATION PROCEDURES: Application review beginsMay 17 ,2021 ; position open until filled . Submitcover letter, resume, and contact information (including email) forthree professional references electronically. If, because of adisability, you need special services or facilities in order toapply for this opening, please call the Human Resources Office at(435) 652-7520.ABOUT THE UNIVERSITY: Dixie State University (DSU) is anopen, inclusive, comprehensive, polytechnic institution committedto exceptional student learning and success. DSU has adopted aninstructional approach of “active learning. active life” and aculture of innovation and entrepreneurship. We seek faculty andstaff committed to creating a student-centered active, applied andcareer-oriented learning environment that is student-centered.Established in 1911 as a community college and in 2013 as a stateuniversity, DSU is located in picturesque southwestern Utah withits red rocks, desert climate, over 300 days of sunshine annually,and featuring easy access to world-class outdoor recreationalopportunities. The nearest metropolitan area is Las Vegas, NV (120miles), with amenities such as an international airport andprofessional sporting teams. Click here to learn more about theUniversity.Dixie State University is a fast-growing Utah public institution ofhigher education, with more than 12,000 students. We offer over 230programs, including masters, bachelors, associates, certificates,endorsements, minors, and/or emphases. DSU seeks to recruit andretain diverse and ambitious faculty and staff who bring new ideas,possess values and career aspirations aligned with the mission andvision, and are inspired to build a premier open, inclusive,comprehensive, polytechnic university. DSU is an Equal Opportunity/ Affirmative Action employer; the President and employees of DSUare fully committed to Affirmative Action and within its programsand activities, including in admissions and employment, Dixie StateUniversity does not discriminate or tolerate discrimination,including harassment, based on race, color, religion, sex, nationalorigin, age, genetic information, sexual orientation, genderidentity or expression, disability, status as a protected veteran,or any other status protected by University policy, Title IX, orany other federal, state or local law.The following individuals have been designated to handle inquiriesregarding the application of Title IX and its implementingregulations and/or DSU’s non-discrimination policies: Position AnnouncementUnder the leadership of the Director of Facilities Planning, thisposition coordinates campus Facilities Management projects andactivities. The candidate hired will provide expertise inconstruction methods and scheduling to assure projects arecompleted in a timely and efficient manner, while complying withdesign standards, building codes and university standards.Additional information about the department can be found online athttps://campus.dixie.edu/ .Responsibilities Bachelor’s degree or equivalent combination of education andexperience required. Degree in Construction Management, BusinessManagement or Architecture preferred.At least two years’ related experience required; experienceusing AutoCAD design software preferred.Valid Utah Driver’s License required; ability to operatemotorized equipment, such as pickup truck and forkliftpreferred.Knowledge of federal, state, and local procurement methods,procedures, and requirements, as well as building codes,ordinances, and regulations.Strong analytical, critical thinking and decision-makingskills.Knowledge of building design, construction, and maintenance, aswell as project management principles, practices, techniques andtools.Good computer skills with Microsoft Office and other editingsoftware.Strong interpersonal and communication skills, with ability towork effectively with a wide range of diverse individuals from thecampus community as well as outside contractors.Ability to work in both an indoor and outdoor environment, withconstruction noise, hazards (moving mechanical parts, vehicles,electrical current, heights, etc.), as well as the ability to lift50 lbs or more.last_img read more

Who owns all of New York?

first_img 6Related Companies18.7M156 4Tishman Speyer20.5M36 1NYC (government)362.1M4,941 18Glenwood Management9.6M33 2Vornado Realty Trust$1.17B77 12LeFrak Organization13.9M86 “If you look at SL Green’s business, recently they’ve been disposing of a lot of their assets,” he said. “And that’s in an effort to buy back shares, which management thinks are cheap. … That’s just a different view and a different investment strategy than we’re deploying.”And those different approaches play into each other, said Brown.“If the majority of our peers are selling assets, that means that there’s either a very deep pool of buyers — and that makes things a little more difficult for us — or there’s a lot of supply on the market,” he said.But even though SL Green is unloading assets now, it has still significantly increased its New York holdings in the last five years. In February, when the REIT, which is headed by Marc Holliday, filed its annual report with the U.S. Securities and Exchange Commission, it claimed to own about 28.7 million square feet of real estate across 70 properties in Manhattan. That square footage is slightly higher than TRD’s more recent figure and up from 23.2 million square feet of real estate across 32 properties that it claimed at the same time in 2013.SL Green President Andrew Mathias cited the company’s redevelopment of One Madison Avenue and its under-construction, 1.5 million-square-foot office property at One Vanderbilt as a sign of its confidence in New York. The latter property is scheduled to open in 2020 and is 30-plus percent leased, with tenants including private equity firm the Carlyle Group and TD Bank.In a statement to TRD, Mathias said there was “strong optimism for New York City’s economy, particularly in Midtown Manhattan, which just had the strongest quarter of leasing activity since 2015.”Meanwhile, in its most recent annual report, Vornado reported that it had 23 million square feet of office and retail in Manhattan alone, along with 2,009 residential units plus the Hotel Pennsylvania. That compares to 22.2 million square feet of Manhattan office and retail five years ago — and 1,653 residential units plus the hotel.Representatives for Vornado, Tishman Speyer and Blackstone declined to comment.But with the exception of major players, sources say many buyers are sitting on the sidelines now and are not in growth mode.Investment sales in Manhattan have not increased since 2015, when they hit a record high of $55 billion. Although a recent report from Avison Young predicted that Manhattan below 96th Street could see $20.7 billion in trades by the end of the year — an uptick from 2017 — activity in July was down for most major property classes.Chris Delson, a partner in the real estate group at the law firm Morrison & Foerster, noted that most companies have not been aggressive about buying or selling recently. But he attributed that to a long streak of price increases that has made some firms nervous about overpaying.“The up cycle has been going on for so long that I think the smart money out there is somewhat cautious,” Delson said, “just because it has been going on for so long and prices have run up for so much.”While most of the firms did not provide TRD with their NOI numbers — it would be a welcome shock if they did — they are raking in a lot of cash.SL Green ranked No. 1 with an annual NOI of $1.44 billion for its New York holdings. It was followed by Vornado (with about $1.17 billion), Boston Properties ($793.6 million), Tishman Speyer ($788.3 million) and the Durst Organization ($713.6 million).While the city owns more property than any other entity in New York, we did not include it on the NOI chart because it’s not  generating revenue from many of its properties. We did include hospitals and universities because while they are not  real estate firms they do make money off of their real estate.   That contrasts with a company like Boston Properties, for example, that has high-profile towers like the GM Building and 250 West 55th Street.The firm declined to comment, but rents at 250 West 55th have gone for between $80 and $140 per square foot. And an analysis from Fitch Ratings last year found that the GM Building could make $184.3 million annually moving forward.Neveloff said the overall amount of money available in real estate had risen tremendously over the last few decades.“You’ll see names of individual players, but that doesn’t tell the story,” he said. “There’s so much more wealth around than there was before.”Looking for B locationsEven if buyers here are taking a collective breath this quarter, they have challenges beyond market forces to contend with: namely, where they can build.Development sites — whether that’s vacant land or buildings that can be demolished or repurposed — are scarce and expensive.Still, developers don’t seem overly concerned about the city’s finite space. In fact, while it may be clichéd to note that they are pushing deeper into the boroughs and developing new neighborhoods, the cliché is still true.Brookfield’s Manhattan West project“Every neighborhood is viable,” Silverstein’s Burger said. “You used to say, ‘Oh, I’d never go there. It isn’t a good neighborhood.’ Now, every neighborhood is desirable for some reason.”The company — which has 12.1 million square feet and logged an NOI of nearly $600 million on the ranking — made its first major push into the outer boroughs this year. It acquired a seven-parcel development site in Astoria stretching two blocks between Steinway Street and 42nd Street.Durst also recently expanded into Queens with the 2,400-unit Hallets Point project and its purchase of the Clock Tower site in Long Island City, where it is planning a 958-unit rental building. TRD’s analysis showed Durst with 14.1 million square feet of property — including high-profile towers like One Bryant Park, 1133 and 1155 Sixth Avenue and the Bjarke Ingels-designed rental Via57 West.“It used to be we would not go outside of Manhattan,” company Chairman Douglas Durst said, “and now we look at all the boroughs.”As developers broaden their geographic horizons, the value of assets in areas that have not historically been considered prime has seen a boost, Delson said.“Maybe this is in a B location,” he said, explaining developers’ thought process, “but I can renovate it, put some money in and either make it an A building or an A-minus building.”In the last few years, the pool of buyers has expanded as well, according to investment sales powerbroker James Nelson, a principal at Avison Young.A lot of these realities stem from the foreign -investment explosion. In the 1990s and early 2000s, the market was geared much more heavily toward a smaller pool of family buyers. At that time, he said, he could easily predict who the first dozen players to call would be when a new property hit the market.“It was a lot of the same families, certainly for the multifamily sector,” he said. “You have a lot of generational holders.”Scott Rechler, CEO of RXR Realty, pointed to the increase in institutional buyers over the past two decades, which he attributed to investors focusing more on financing buildings through equity than debt. This tends to ensure that once buildings are off the market, they stay off the market.NYC Property Owners With Highest Annual Net Operating Income 5Blackstone Group20.1M31 7Columbia University17.9M246 15Jeff Sutton/Wharton Properties$439.1M105 16Cammeby’s International Group11.5M82 10Silverstein Properties$599.5M14 17Mount Sinai Medical Center10.3M55 20New York-Presbyterian Hospital$300.7M58 12Fisher Brothers$475.5M11 13Rudin Management13.1M36 5Durst Organization$713.6M49 11Durst Organization14.1M49 16Mount Sinai Medical Center$408.1M55 RANKFIRM/ENTITYTOTAL NOINO. OFBUILDINGS/VACANTPARCELS 8Related Companies$642.3M156 20New York-Presbyterian Hospital9.3M58 15Silverstein Properties12.1M14 RANKFIRM/ENTITYTOTALSQUAREFEETNO.BUILDINGS/VACANTPARCELS 1SL Green Realty$1.44B73 10New York University14.3M111 3Boston Properties$793.6M10 2Vornado Realty Trust29.7M77 13Columbia University$464.9M246 9RXR Realty16.5M22 7RXR Realty$653.1M22 19Boston Properties9.5M10 9Blackstone Group$632.5M31 4Tishman Speyer$788.3M36 17Solil Management$340.3M102 19Glenwood Management$302.5M33 From left: Mayor Bill de Blasio; Related Companies’ Stephen Ross; SL Green’s Marc Holliday; Vornado’s Steve Roth; Blackstone’s Stephen Schwarzman; Tishman Speyer’s Rob Speyer (Illustration by John Ritter)When Silverstein Properties was bidding on the Helmsley Carlton House eight years ago, company executive Marty Burger thought his firm had a pitch that would win the property.“[We had] a very well-known hotel brand that agreed to let us use their name to sell condos,” Burger, who is now Silverstein’s CEO, recalled last month. “We thought that was our edge.”But as it turned out, that edge was not sharp enough.Instead of selling the famed hotel to Silverstein, the estate of Leona Helmsley — aka “the Queen of Mean” — went with private equity giant Angelo, Gordon & Co. and Extell Development, which paid $175 million. While all the other bidders were focused on converting the property to condos, Extell’s Gary Barnett had crafted a different play. Not only would he convert the building into 68 cond-ops, he’d also create more retail. Those calculations, Burger said, allowed the duo to bid more.And Extell ultimately sold that Madison Avenue retail to Thor Equities for the hefty price of $277 million.“It made 100 percent sense,” Burger said of the retail play, “and I kicked myself for not thinking of it because [it was] just a different approach.”While the sale of the Carlton House was years ago in a market that looks a lot different from today’s, it offers a window into the seemingly never-ending quest for New York City’s biggest landlords to grow even bigger. For this issue, The Real Deal set out on its own epic quest — to create a first-ever ranking of the largest property holders in the city by both total square footage and annual net operating income. (The NOI is revenue minus expenses before taxes were paid as publicly listed by the city.)The undertaking was massive, and many landlords did not participate, so their numbers may be undercounted, but the ranking offers a rare look at just how much real estate some of New York’s biggest players have to their names.Together, the top 10 players on TRD’s list own roughly 546 million square feet of property citywide — with the city itself owning about 66 percent of that total. That, of course, is just a fraction of the nearly 5.5 billion square feet of property and land citywide, but it’s still a sizable chunk that encompasses many of the largest properties in New York. Meanwhile, the 10 owners with the highest NOI are throwing off a combined $7.5 billion a year — more than the GDP of the entire country of Liechtenstein. And that NOI doesn’t include condos they’ve sold, buildings they’ve unloaded or projects they currently have under construction, which are not yet producing income. TRD’s NOI tally is simply meant to measure income from leasing that firms are generating right now in New York.The players who made TRD’s cut are a mix of famed private family firms, the country’s biggest real estate investment trusts, major universities and institutions, and firms that are backed by big institutional money.And many are poised to get even bigger, especially as developers move deeper into emerging neighborhoods.Jay Neveloff, partner at Kramer Levin Naftalis & Frankel, noted that every market  has “its own value.”“It’s just a question of what’s the next hot place,” he said.Who’s on top?To the surprise of nobody, the City of New York is the biggest property owner in the five boroughs — with a massive 362.1 million square feet to its name, according to TRD’s analysis. Think 1 Police Plaza, Stuyvesant High School and the New York Public Library building on Fifth Avenue.That is more than one and a half times what the top 10 private companies on the list own combined.Vornado Realty Trust — the Steve Roth-run REIT — took the No. 2 spot, with 29.7 million square feet.Meanwhile, SL Green Realty clocked in at No. 3 with about 28.7 million square feet. Rounding out the top six were Tishman Speyer with about 20.5 million square feet, Blackstone Group with 20.1 million and the Related Companies with 18.7 million.To determine who owned what, we set a snapshot date of June 30 and pulled thousands of property records from public sources, including ACRIS, the city Department of Housing Preservation and Development, the Department of Buildings and others. Silverstein Properties’ 3 World Trade CenterThen we cross-referenced those buildings with the annual “notice of property value” that the city’s Department of Finance sends to landlords, which lists an estimate of NOI before taxes are paid. (Residential condos were excluded from the ranking, and NOI for commercial condos was estimated based on public records.)Brookfield Property Partners, which has been on a development-and-expansion tear lately, took the No. 8 spot with about 17.5 million square feet of space.But that did not count many of its biggest properties, including under-construction offices towers One Manhattan West (2 million square feet) and Two Manhattan West (1.7 million square feet). Nor did it include 666 Fifth Avenue (1.5 million square feet). At that tower, Brookfield struck a deal with Kushner Companies for a 99-year lease with an option to buy it, but the transaction occurred after our June 30 deadline.The company has ramped up outside of Manhattan as well.In April, it signed a contract to buy a seven-building development site in Mott Haven in the Bronx for $165 million. And the firm is also partnering with the Park Tower Group at Brooklyn’s Greenpoint Landing on four residential buildings at a projected cost of about $1.6 billion. Development sites counted only toward building totals, not square footage. They also don’t contribute much to NOI since they are not yet generating income.But overall, Brookfield locked down about $1 billion in large projects across the city during the first six months of the year, according to a recent TRD analysis. And all of that is not to mention that the company recently announced plans to buy the REIT Forest City Realty for $6.8 billion.Ben Brown, who took over as head of New York and Boston real estate at Brookfield in April, said the city’s shortage of large development sites has pushed the company into areas like Greenpoint and the South Bronx.“We have that critical mass where we really have the opportunity to do some playmaking there,” he said. “[We] have that opportunity to create a whole ecosystem.”While Brown acknowledged that the company has been more active than its competitors recently, he stressed that its pace is fairly normal for a $10 billion global firm.NYC Property Owners With The Biggest Footprints 14New York University$459.7M111 14Solil Management12.5M102 11Rudin Management$498.5M36 6Brookfield Property Partners$660.9M19 8Brookfield Property Partners17.5M19 18Paramount Group$322.8M6 “Properties being sold, particularly the higher-quality Class A assets, are being sold to buyers that are long-term holders,” said Rechler, whose firm had about 16.5 million square feet of property in the city and an NOI of about $653 million.“So,” he noted, “it’s unlikely that they come back onto the market anytime soon.”The cost of development has skyrocketed over the years as well — making it harder for new players to get in the game.Alex Goldfarb, managing director at investment bank Sandler O’Neill, said Manhattan development sites can now easily go for more than $1,000 per square foot. In general, this has made companies much less eager to stockpile several development sites at once.If a developer is able to assemble a site that can actually produce income, “then, yeah, you’re happy to do that and wait,” Goldfarb said. “But to just lock up a bunch of parking lots and hope at some point it comes around? You’re probably not going to do that.”Goldfarb cited Vornado as a company currently focused on smaller, safer projects. However, with the No. 2 NOI in the city, the company, which is building the ultra-luxe residential tower at 220 Central Park South, has undoubtedly been strategic about when it gets aggressive.Roth has been famously quiet about the under-construction project. But the company got in early, buying the property in 2005 for $132 million and spending $40 million to buy out its rent-regulated tenants.“They’re not mega, certainly, not like replacing the Hotel Pennsylvania,” Goldfarb said, referring to the projects the company is currently working on. “So the projects are smaller in scale, so there’s less financial risk.”Still a blood sportNews flash: New York real estate is famously cutthroat. And that means if an owner wants to get bigger, it often must be more aggressive than everyone else.Even a company like Brookfield that’s been picking up assets left and right loses some. Brown cited the St. John’s Terminal site in Lower Manhattan as one that got away. Despite Brookfield bidding on it, Oxford Properties Group and Canada Pension Plan closed on a $700 million purchase of the south portion of the site at the beginning of the year from Westbrook Partners and Atlas Capital Group.“We liked it a lot and spent a lot of time on it,” Brown said. “Unfortunately, we weren’t successful in getting it.”But others said the industry is no more competitive now that it’s been in the past. Today, Brown said, many major players are focusing more on developing than acquiring. “The past couple of years in New York, there’s probably been a lot more competition on the development side,” he said. “I think people still had very rose-colored glasses on. I think that’s tempered a bit.”Silverstein’s Burger characterized the city’s current market as “heady,” mainly because there are so many different sources of capital pouring in.“Zoning changes. Demand changes,” he said. “Today, anyone who’s a developer in New York would love to build a multifamily building, because multifamily is gold.”Kaufman Organization President Steven Kaufman — whose company did not make the ranking but had about 4.7 million square feet of real estate, according to TRD’s analysis — said new players like office-sharing companies WeWork and Knotel are upping the cost of staying in the game. “With new owners in the marketplace spending a lot of money on buildings,” he said, “the older legacy owners such as ourselves are in a position where we have to spend more to stay competitive.” This content is for subscribers only.Subscribe Now 3SL Green Realty28.7M73last_img read more

The Daily Dirt: Who needs City Hall?

first_imgMorningside Heights (Credit: Wikipedia)The de Blasio administration doesn’t want to rezone Morningside Heights. That isn’t stopping a community group from pursuing zoning changes anyway. Last month, the Department of City Planning rejected a community-led proposal to rezone the Manhattan neighborhood, which is all of 15 blocks. The community group, the Morningside Heights Community Coalition, argues that something must be done to rein in massive development that is out of step with the character of the neighborhood. The neighborhood stretches roughly from West 110th to 125th streets and west of Morningside Park. But from the city’s perspective, the proposal wouldn’t create enough affordable housing to justify a major zoning change. That doesn’t mean the idea is dead. Speaker Corey Johnson recently pledged to commit City Council resources to creating a rezoning proposal for the neighborhood. Council member Mark Levine, who represents Morningside Heights, is helping to lead the charge. So, if this ultimately goes to a vote, and member deference doesn’t somehow disappear before then, the rezoning has a good chance of passing. Of course, the proposal is still a long way away from being put to a vote. The old journalism adage goes that three of something makes a trend. The Morningside Heights rezoning would mark the second time in recent memory that a community group, rather than City Hall, steered a rezoning into being. In 2017, the Council approved the rezoning of 10 blocks on the Upper East Side. That effort, led by Council member Ben Kallos and the East River 50s Alliance, was triggered by the Bauhouse Group’s planned 1,000-foot tower in Sutton Place.The project was eventually taken over by Gamma Real Estate and scaled down slightly. Though the Council decided against exempting the tower from the new zoning rules, the city’s Board of Standards and Appeals ultimately ruled that the old regulations should apply to Gamma’s project.   Billionaires’ Row may soon be home to an office tower. Alchemy Properties and ABR Partners are teaming up to buy Calvary Baptists’ properties on Billionaires’ Row, Rich Bockmann reports. The partnership, dubbed Alchemy-ABR Investment Partners, plan to build a 230,000-square-foot commercial building at 123-141 West 57th Street. The tower would include 180,000 square feet of office space, along with some retail space and a condo for the church. ABR and Alchemy — which led the condo conversion of the Woolworth Building — first teamed up in 2015. “When this site was originally brought to us, Billionaires’ Row was already a phenomenon, but this just didn’t click as a condo project,” said ABR Partners’ Brian Ray. “We started talking about what this market really needs is an office building, and it really started to make sense.”The project is expected to break ground in 2021 and has an estimated price tag of $350 million. A thing we’ve learned…The Crown Building was once owned by Philippines dictator Ferdinand Marcos and his wife Imelda. According to a New York Times story from 1991, Marcos secretly purchased the tower in 1981 through a number of international companies. Thank you to Kevin Sun for providing this tidbit.Top stories from our other markets:NATIONALBlackstone just sold a 100-building portfolio valued at $3 billion to Nuveen, the real estate investment arm of the Teachers Insurance and Annuity Association of America. The deal follows Blackstone’s purchase last month of a 179 million-square-foot logistics portfolio from GLP for $18.7 billion, making it one of the largest real estate deals ever. Nuveen was among the lenders that helped finance that transaction.CHICAGOGolub and partner CIM Group are close to an agreement with the city to build a skyscraper next to the Tribune Tower, Crain’s reports. If built as planned, the 1,422-square-foot building overlooking Michigan Avenue would be the second tallest in the city. It would include 560 residential units and a 200-key hotel.LOS ANGELESJust three months after expanding their team to Los Angeles, Eklund and Gomes have lured a top broker from the Agency. Stacy Gottula is moving from Mauricio Umansky’s firm to Douglas Elliman. The Agency has been losing top producers over the last two years or so, many of them to Compass. Former Agency brokers Brendan Fitzpatrick and Sean Landon also recently departed for Elliman.MIAMISuffolk Construction, Skidmore, Owings and Merrill and Virgin Trains have agreed to pay steel maker ADF International $10.5 million to settle claims of mismanagement, project delays and $22.4 million in unpaid work. ADF sued the parties, accusing Suffolk and SOM of critical mistakes and plan revisions during the construction of the Virgin MiamiCentral train station. According to ADF, as a result of the mistakes, the steel company increased its workload without compensation. TO READ THE FULL STORYSubscribe NowThis content is for subscribers only.Subscribe Nowcenter_img What we’re thinking about next: Will Adam Neumann find a welcoming co-op board? Doesn’t he already have a few different places to live? Send a note [email protected] TIMEResidential: The priciest residential closing recorded on Monday was for a co-op unit at 45 Gramercy Park North in Gramercy Park, at $5.3 million.Commercial: The most expensive commercial closing of the day was for two apartment buildings at 469 and 473 Fourth Street in Park Slope, at $10 million.BREAKING GROUNDThe largest new building filing of the day was for a 153,964-square-foot residential building at 449 Chester Street in East New York. L&M Development filed the permit application. NEW TO THE MARKETThe priciest residential listing to hit the market was for a condo unit at 40 Mercer Street in Soho, at $9.5 million. Brown Harris Stevens’ Rachel Zerbib Bakhchi has the listing. — Research by Mary Diduchlast_img read more