First One The Tacoma Housing Authority is redeveloping a lumber sawmill site into a 110-unit community, which will be the organization's first modular housing project.

Photo: Courtesy of Tacoma Housing Authority Known as Hillsdale Heights, the project will include 60 low-income apartments, 50 affordable, for-sale townhomes, a small community center, trails, and green space. —Les Shaver

Lone Stars Hamilton Properties, the father-and-son development team behind several office-to-residential conversions in downtown Dallas, is proposing a takeover of the Atmos Energy site currently owned by Cleveland-based Forest City Enterprises. Dallas City Hall gave the four-building property to Forest City in 2005 as part of a $70 million public/ private redevelopment of the adjacent Mercantile Bank Building. However, development of the Atmos site has not commenced, and Forest City has already paid the first in a series of $250,000 payments for failing to redevelop the site into a mixed-use community with upwards of 200 apartments. The Hamilton team proposes taking over the project and implementing a $49.5 million, 225-unit development plan with $30 million of their own cash and $10.2 million in tax increment financing from the city. —Chris Wood

Nosedive Real Capital Analytics, a New York-based research firm, says land sales have fallen off drastically, nearly 75 percent this year. From January to August, there were $7.1 billion in land sales. During the same period last year, $27.2 billion in land was sold. In 2006, $16.4 billion was sold in that time period. —Les Shaver

Jobless Claims The stagnation in multifamily construction is exacerbating a lull in job creation. According to the Washington, D.C.-based National Association of Home Builders, a decline in multifamily construction has broad-based employment impacts affecting construction jobs, building materials manufacturers, architects, lawyers, engineers, lenders, and real estate agents. According to the NAHB, the average 100-unit multifamily project generates 116 jobs for a rental community and 293 jobs for a condo community. If multifamily construction declines by an expected 70,000 units in 2009, the United States stands to lose 155,000 jobs and about $4.5 billion in federal, state, and local revenues. —Chris Wood

The Corner Office

FREELAND Photo: Riverstone Residential Dallas-based Riverstone Residential has created a new client services group and redefined the leadership roles of its co-founders Christy Freeland and Terry Danner. Under the reorganization, Freeland becomes CEO of Riverstone Residential Group and will oversee national operations, internal resources, financial services, and information systems. Danner becomes CEO of the client services group and will focus on new business development and working closely with institutions, developers, pension funds,