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Generations of airmen and airwomen would undoubtedly be amazed to see what’s happening to the former Myrtle Beach Air Force Base, which was opened in 1942 and then shut down in 1993 as part of the Pentagon’s “peace dividend” base-closing process. The nearly 4,000-acre base is going new age and features a 900-acre eco-friendly housing development called Withers Preserve. (Hmmm—why not “The Barracks”?) Today the developer, Rob O’Neel, held a press conference in Los Angeles with General Electric CEO Jeff Immelt to announce that homes in Withers Presere will incorporate GE’s ecomagination Homebuilder Program—energy-efficient appliances, lights, etc. The upgrades will add about $5,000 to the cost of each unit.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.