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Wermers in St. Louis

San Diego-based West of Five Group recently opened Clayton on the Park, a 206-unit luxury high-rise apartment tower in St. Louis. Interior design work was done by Catalina Design, of San Diego.

Each apartment features wall-to-wall, floor-to-ceiling windows, granite countertops and designer fixtures.

The tower features views of downtown St. Louis and west St. Louis County.

Services and amenities include a building concierge, valet laundry service, on-site spa, 24-hour fitness center, and rooftop lounge and pool.

Additionally, a restaurant, wine bar and street level retail are being completed within the first floor space.

West of Five Group was created in 2011 by San Diego-based Wermers Properties, Trilogy Investment Group and The Koman Group.

The partners seek real estate investments in local, regional and select national submarkets across office, retail and multifamily platforms.

Massachusetts resales

(AP) -- The Massachusetts Association of Realtors reports that the number of single-family homes sold in the state last month when compared to the year-ago period jumped almost 30 percent, while median prices were up more than 3 percent.

The association said Thursday that November was the 17th consecutive month of year-over-year increases and the first time home sales topped the 4,000 mark in a single month since November 2004.

The Warren Group, a Boston-based publisher of real estate data, reported a 38 percent increase in home sales compared to November 2011, and a 2 percent hike in median prices.

The organizations use slightly different figures in their calculations.

Both groups reported a year-over-year jump in condominium sales well above 30 percent.

The figures, they say, are evidence of a recovering housing market.

Rhode Island resales

(AP) -- The number of single-family homes and condos sold in Rhode Island made a big jump in November.

The Rhode Island Association of Realtors said the number of single-family homes sold in November increased 43 percent from November 2011, and the number of condos jumped 37 percent.

The median price of single-family homes held about steady, with an increase of about 1 percent, to about $195,000. Condo prices jumped 25 percent, to a median of about $205,000.

Association President Victoria Doran said the group is optimistic about 2013, but concerned about the fiscal cliff and talk about eliminating the home mortgage interest deduction on second homes.

She said eliminating that deduction could hurt the housing market in Rhode Island.

Tapping the Missouri

(AP) -- Gov. Jack Dalrymple and North Dakota's congressional delegation say the U.S. Army Corps of Engineers will soon issue permits to tap surplus water from Lake Sakakawea for use by oil companies and other industrial users.

State officials said the corps is reviewing several applications that would draw more than 30,000 acre feet of water from the Missouri River reservoir. An acre-foot is the amount of water covering an acre, one foot deep.

Dalrymple and the state's congressional delegation maintain that North Dakota owns Missouri River water in the state and it should be made permanently available to water users at no cost.

North Dakota officials say the state will fight any attempt to charge users for water in the future.

UK boosts solar

(Bloomberg) -- The United Kingdom, which had the wettest summer in 100 years, added solar power to a list of technologies deemed crucial to meeting renewable-energy and carbon-reduction targets.

Solar photovoltaic power is on a list of nine technologies, which also includes marine and offshore wind energy, the Department of Energy and Climate Change said Thursday.

The U.K. aims to cut emissions by 34 percent in 2020 from 1990 and has a European Union goal to get 15 percent of all energy from renewables by then.

The U.K. offers incentives for clean-energy projects as it seeks to replace aging power stations without adding to polluting emissions.

Solar capacity increased more than fivefold to 1.4 gigawatts in the year through June after costs fell 50 percent, the department said in an update to its Renewable Energy Roadmap first published in July 2011.

Total electricity output from renewables rose 27 percent in the period, it said.

Solar credit

(Bloomberg) -- Hanwha SolarOne Co. (Nasdaq: HSOL), a Chinese maker of solar modules, got a 3 billion yuan ($481 million) credit line from Bank of Beijing Co. for the next 12 months.

The drawdown of specific amounts is subject to the bank's approvals, the company said Thursday.

The loan will help “manage and grow our business to exploit downstream project opportunities in China and abroad,” Chief Financial Officer Jay Seo said.

The Shanghai-based company is a unit of South Korea's Hanwha Group.

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