Real Estate Development

News & Analysis as of

Thousands of applicants are willing to accept NYC “Poor Door” building

The Housing Plus Blog has previously reported on the “Poor Door” controversy on August 14, 2014 and September 3, 2014. The New York Times reported on April 20, 2015 that 88,000 people applied for the 55 units located in the...more

B.C. Court Allows Environmental Approvals Delay Claim to Proceed

In Carhoun & Sons Enterprises Ltd. v. Canada (Attorney General), the British Columbia Court of Appeal allowed a lawsuit to proceed against the federal government by a private developer for losses caused by delays in the...more

Rating Agency Developments

On April 24, Fitch released its updated U.S. Auto Lease ABS Ratings Criteria. On April 27, DBRS released its Rating Canadian Covered Bonds Methodology. On April 27, S&P updated its Bank Rating Methodology and Assumptions to...more

Construction Defect Reform Bill Defeated

Senate Bill 15-177, a bill introduced to reform Colorado’s construction defect litigation process, was defeated in a House of Representatives Committee on April 28, 2015 without being presented for a full vote in the House....more

Pros and Cons of Preferred Equity Investments

Real estate owners and developers have been increasingly turning toward preferred equity structures and investments in order to raise much needed capital for the purchase, renovation and development of real property where...more

Kaisa and Others Hope for a Miracle but Learn that Magic Does Not Exist

Kaisa Developments - The recent financial crisis of Kaisa Group Holdings Ltd. (“Kaisa”), a large-scale Chinese property developer listed on the Hong Kong Stock Exchange (“SEHK”), continues to be in the headlines. The...more

Real Estate Tip: Enforcing Shopping Center Reciprocal Easement Agreements in a Declining Market

Lord & Taylor signed a Reciprocal Easement Agreement, requiring its landlord to maintain a “first class high fashion regional shopping center.” The REA also required shared access and parking and required Lord & Taylor’s...more

Abuse of Discretion Not Shown By Court’s Failure To “Show Its Arithmetic” in Significantly Reducing Claimed Attorney Fees in CEQA...

In Save Our Uniquely Rural Community Environment v. County of San Bernardino, __ Cal.App.4th ___, 2015 WL 1259781 (4th Dist., Div. 2, 2015) (SOURCE) , the Fourth District Court of Appeal affirmed the trial court’s decision...more

What is Done is Done – and Cannot be Undone

Lady Macbeth tells her troubled husband, “What is done is done” and later says to herself “and cannot be undone.” This is the outcome in Hillcrest Property, LLP v. Pasco County, 754 F. 3d 1279 (11th Cir 2014) and apparently...more

Update on Two Recent California Eminent Domain Cases

I wanted to provide a quick update on two recent cases from the California Court of Appeal. The first, Golden State Water Company v. Casitas Municipal Water District (April 14, 2015), involves what appears to be an...more

Financing the Middle East’s Shopping Spree

The continuing strong economic conditions of the UAE and other GCC economies has led to an upsurge in consumer spending in recent years. With retail sales in the region expected to reach US$284.5 billion by 2018, the need to...more

Construction Lien Law: What You Need to Know to Protect Your Company [Video]

Presented by Tobey Coleman and Emily Yeatts This webinar provides an overview of North Carolina’s construction lien laws and how they apply to and impact each party involved in a typical construction project – owners and...more

Landowners, Developers Win Big In Wetlands Case

Building on a 2012 U.S. Supreme Court decision, the Eighth Circuit ruled on April 10th that Clean Water Act jurisdictional determinations made by the U.S. Army Corps of Engineers can be challenged in a “pre-enforcement”...more

Real Estate: Foundation - April 2015

In this issue: - How NMTCs Benefit Real Estate Community Development Initiatives - Noteworthy Real Estate Deals - What’s Your Priority? An Open-Ended Examination of Pennsylvania’s Mechanics’ Lien...more

Suit by “Interested,” Neighboring Municipalities to Enforce SEQRA Requirements Does Not “Impose or Implement” a Land Use...

On March 27, 2015, the Southern District of New York granted summary judgment in favor of all defendants in the consolidated action Bernstein v. Wesley Hills, 08-CV-156; 12-CV-8856 (KMK), (the “Wesley Hills” Action). The...more

A Skimmed Plan Nord: Keeping in Line with Quebec’s Current Economic Landscape

The Quebec government first launched its Northern Plan, le “Plan Nord”, in 2011 with great fanfare. The Plan Nord seeks to develop Quebec’s vast territory north of the 49th parallel, which covers 72 per cent of the province...more

The Role of the Comprehensive Plan in Land Use Planning

The comprehensive plan is the most important tool in land use planning. In its most basic function, it provides a roadmap for the development of a community’s most limited resource, the land itself. More than just a rigid set...more

LIHTC exit strategies: Right-sizing the loan

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects...more

Sherman & Howard Construction Monitor Spring 2015

In this issue: - Senate Bills Tackle Construction Defect Litigation Reform - Potential Source of Lawful Labor Delayed or Halted - Excerpt from Senate Bills Tackle Construction Defect Litigation...more

RALEIGH'S UDO AND THE CITYWIDE REZONING: What's New and How's it Working? [Video]

Raleigh's Unified Development Ordinance took effect September 1, 2013, and a massive rezoning is now underway to make its new zoning districts applicable to multifamily and commercial, including office, retail and industrial...more

Supreme Court to Determine Whether ECOA Allows Spousal Guarantors to Challenge Liability

On March 2, 2015, the Supreme Court of the United States granted certiorari in Hawkins v. Cmty. Bank of Raymore, 761 F.3d 937 (8th Cir. 2014), cert. granted, No. 14-520, 2015 U.S. LEXIS 1635 (U.S. Mar. 2, 2015)—on appeal from...more

Broad-Based Expansion for the Construction Industry Expected in 2015 - Construction Practice Newsletter

According to USA Today, construction hiring is surging and is at a nine-year high. And if you look around, the evidence of that seems to be in abundance, as billboards advertising idyllic residential communities seem to be...more

Declarant Rights: Are Developers Leaving Money on the Table?

When a residential subdivision is developed, it is common for the developer to record a Declaration of Covenants, Conditions, Easements and Restrictions along with the subdivision plat. This Declaration addresses use...more

Half-Pie or No Pie? News for Kaisa’s Offshore Creditors

Kaisa Crisis - The recent financial crisis of Kaisa Group Holdings Ltd. (“Kaisa”), a large-scale Chinese property developer listed on the Hong Kong Stock Exchange (“SEHK”), has been in the headlines for several months....more

Does Non-Recourse Liability Still Exist?

Several years ago, the real estate financing market took an unexpected turn. In 2011, a court in Michigan rendered a decision which called into question whether a non-recourse loan was truly “non-recourse” (liability limited...more

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