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Apart from its residential function, it houses university departments, research laboratories, and a major regional shopping centre.
For its residential mortgages, it doesn't classify them as nonaccrual until they are 120 days past due, instead of the more typical 90 days.
It will spin off its residential interests into a separate entity.
It also needs to reform its residential permit system to align benefit portability with rapid migration from the countryside to cities.
It gave $5.7 million to Thomas Marano, chief of its Residential Capital mortgage unit.
Verizon says it can reach at least 60% of its residential customers with DSL.
It added that the service could be provided by its residential care homes.
Freed Developments has increasingly been including retail space in its residential offerings, Mr. Gairdner said.
Many of its problems stemmed from bad mortgages in its Residential Capital, or ResCap, unit.
In the aftermath, the state ordered the company to sell off its residential holdings.
But the company's record on its residential projects is less impressive.
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