In the News—Week of February 16, 2026

Iconic Waldorf Astoria in Manhattan up for sale after $2 billion-plus renovation

The Waldorf Astoria hotel in Manhattan is being put up for sale by its Chinese state-backed owner, the New York Post reports. Dajia Insurance Group’s decision to sell follows an extensive renovation that took eight years to complete. The property was originally purchased for $1.95 billion in 2014 by Anbang Insurance Group, which closed it in 2017 to begin the transformation that converted roughly half the building into 372 luxury condominiums while reducing hotel rooms from 1,400 to 375. The renovation proved far more complex and expensive than anticipated, with combined acquisition and redevelopment costs exceeding $4 billion due to landmark preservation requirements, pandemic disruptions and the challenges of modernizing a nearly century-old structure. The sale comes amid a wave of high-value luxury hotel transactions in Manhattan, though no asking price has been disclosed for the iconic Park Avenue property.

Los Angeles might be able to learn a thing or two from nearby San Diego

San Diego could serve as a good example for its larger neighbor to the north, the Los Angeles Times reports via futurescapeusa.com. Compared to Los Angeles, San Diego is a model for housing development with fewer regulations, lower fees and less restrictive rent control. The city’s streamlined approval process and adherence to a clear general plan have enabled apartment construction to increase by 10% over three years, while Los Angeles saw a 33% decline during the same period. Industry experts attribute San Diego’s success to its staff-level project approvals for compliant developments, contrasting sharply with LA’s discretionary approval system that adds months of delays through City Council review. Although San Diego still faces challenges like high interest rates and federal immigration policies affecting construction workers, its business-friendly approach has proven more effective at expanding housing supply to meet demand.

NFL’s Texans announce plans for HQ, training facility northwest of Houston

The Houston Texans of the NFL have unveiled plans for an 83-acre development called Toro District, which will feature a new 22-acre headquarters and training facility in Bridgeland Central, northwest of Houston, The U.S. Sun reports. This public-private partnership with Harris County and Howard Hughes Holdings will include retail, dining, hotel, entertainment and medical facilities designed to serve the broader community. The project is expected to contribute $34 billion to the local economy and create 17,000 jobs across the region. Texans CEO Cal McNair described it as the most significant evolution for the franchise since its founding in 1999.