The Texas Department of Transportation is planning new projects tallying almost $370 million that will repair and expand miles of highways and a number of bridges and ramps across the state. The work will be funded by Proposition 1, which diverts some oil and gas tax revenues to the State Highway Fund.
Hunt Construction Group has secured a $247 million contract to be the builder for the Fairmont hotel project in Austin, Texas. The $370 million hotel, which will be connected to the Austin Convention Center through an aerial promenade, will include meeting space and more than 1,000 rooms.
Saputo, Canada's largest dairy producer, has entered a $370 million bid to acquire Australia's Warrnambool Cheese and Butter Factory Company Holdings. "We believe Australia has the ideal platform for us getting products into those emerging [Asian] markets," Saputo CEO Lino A. Saputo, Jr., said of the deal, which is expected to close in December.
Six publicly owned acres on New York City's Lower East Side could soon be private. Several developers are expected to submit their bids for the Seward Park property today. Related Cos., Bruce Ratner, Google and Avalon Bay are among those who have expressed interest in developing a 1.65 million-square-foot mixed-use development that would include retail and office space along with market-rate and affordable housing.