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Money Magazine released its annual list of The Best Places to Live in America and two local communities made the top five; Ashburn, Va. (No. 2) and Ellicott City, Md. (No. 4). The list of 15 cities was compiled based on myriad factors including economic health, public schools, housing, local amenities, cost of living and diversity. Read more at WTOP.
COMMERCIAL REAL ESTATE
Following an $8.25-million acquisition of the Transcentury Building in Adams Morgan, Jubilee Housing Inc. filed plans to convert the vacant office building into a 25-unit apartment complex. The D.C.-based nonprofit also plans to devote the ground floor to a nearby youth development center. Read more at the Washington Business Journal.
McLean-based Georgelas Group filed an application for a $450-million, 7-acre mixed-use development on Tyco Road near the Spring Hill Silver Line station in Tysons. Plans for the Spring Hill Station North development include 1.3 million square feet of residential/office space across three buildings, a 170,000 square-foot hotel and 75,000 square feet of retail. Read more at BisNow.
John Hancock announced major changes to its life insurance offerings that will require health tracking for coverage. Customers will have to enter fitness activity via an app or website or, for a 15 percent discount, they can track health data with a wearable device. Traditional policies will no longer be available. Read more at Engadget.
By the end of this year, Walmart will supply 4,700 of its stores with more than 17,000 Oculus Go virtual reality headsets as the retailer expands its VR-based employee training system. The technology is designed to give employees a physical feel for situations like Black Friday shopping surge. Read more at The Verge.
CEO Report TV
Alan Rihm, CEO, CoreDial
John Iatesta, CEO, Veptas Technology Solutions
In Case You Missed Them
JOBS A report from the Metropolitan Washington Council of Governments (COG) predicts the District will see an additional 990,000 new jobs created by 2045. To accommodate the growing workforce, the region will also need to construct at least 100,000 new housing units...read more
COMMERCIAL REAL ESTATE Miami-based Exan Capital has entered into an agreement with JBG Smith to acquire the Executive Building at 1399 New York Ave. NW for $121 million. The move is part of JBG’s strategy of selling its D.C. office assets, which it believes could...read more
HOSPITALITY Australia-based SB&G Hotel Group has acquired the Greenbelt Marriott at 6400 Ivy Lane from Lerner Enterprises for $18 million. The new ownership plans to renovate the 284-room property, that includes 11,200 square feet of meeting space, and re-brand it as...read more
FINANCE Nearly two-thirds of Washington-area residents report feeling unprepared for a financial crisis, according to a survey of 750 people conducted by Charles Schwab. Millennials and Gen Xers were the least prepared at 64 percent. Read more at Washington’s Top...read more