Creative Reuse: The Opportunities and Challenges of Converting Office Space to Residential
The Massachusetts Affordable Homes Act (H. 4977), signed into law on August 6, 2024, includes provisions intended to promote residential housing construction. These provisions: (1) require municipalities to permit accessory...more
In June, Mayor Wu announced the extension of the City of Boston's Office to Residential Conversion Program with $15 million in additional funding from the state. The program, which formally launched in October of 2023, aims...more
On July 12, 2024, a bipartisan bill was introduced in the U.S. House of Representatives titled the “Revitalizing Downtowns and Main Streets Act” (H.R. 9002) (the “Bill”), which, if enacted, will provide an investment tax...more
As Dayton’s defense industry continues to grow, a local developer plans to invest more than $100M in a mixed-use development aimed at attracting defense contractors....more
Incentivizing construction of new rental homes is a key policy priority for Canadian governments. As discussed in an earlier post, the federal Department of Finance issued a news release on September 14, 2023 relating to...more
Welcome to the latest edition of Overriding Interest. Inside this issue: - New Joiners - Articles of Interest - Events - Case Reports...more
Legislature Gives Local Governments Right of First Refusal on Affordable Housing and Right of First Offer on Certain Market Rate Multifamily Properties - On the final day of the legislative session, the state legislature...more
New York state has enacted changes in the housing laws that will have a significant impact on the development and operation of multifamily housing in New York City and the state, and will also ameliorate the effects of...more
As covered in prior PSH Client Alerts on June 26, 2023, August 22, 2023, and November 27, 2023, this past year included numerous major reforms to the Rhode Island zoning and land development statutes, all aimed at spurring...more
The Office of the Deputy Mayor for Planning and Economic Development (DMPED) for the District of Columbia issued draft regulations effectuating the Housing in Downtown Tax Abatement (Abatement) on Jan. 26, 2024. The draft...more
It's been just a few months since Florida enacted the Live Local Act to boost affordable housing, and developers are already proposing new projects under the new law. In this webinar, our panelists will discuss the...more
Historically, the United Kingdom has lagged behind the likes of Dubai, South Florida, New York, Hong Kong SAR and Singapore in the branded residences space, as us Brits have tended to prefer traditional house living. However,...more
Join Bricker Graydon on November 16th for a free half-day seminar on, “How to Jumpstart Housing Development in Your Community.” Speakers will include Bricker Graydon public finance and political subdivision attorneys in...more
In Part 9 of this series, we take a closer look at the foreign investment considerations for build-to-rent (BTR) projects. In particular, we consider the circumstances where a foreign developer or financier would likely need...more
MassHousing, Boston, Salem and Worcester have introduced novel programs using American Rescue Plan Act (ARPA) funds to create and preserve affordable housing following the U.S. Treasury’s Final Rule on Coronavirus State and...more
The Colorado state legislature recently approved a bill that would prohibit “governmental entities” from enforcing existing or enacting new local anti-growth laws that would limit housing supply, development applications or...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER INDIAN LAW - INVESTMENT AND CONVEYANCE OF REAL ESTATE IN INDIA - 1. INTRODUCTION TO REAL ESTATE IN INDIA - Since the liberalization of Indian economy, the real estate...more
A year since the approval of Senate Bill 9 (SB 9), it appears few Californians have taken advantage of the new legislation that aims to streamline small-scale housing development. The bill allows for the development of either...more
As work habits continue to transition from office space to work from home, sparsely populated downtown office towers are proving to be a barrier to the City’s goal of repopulating the traditional financial district. Enter the...more
Commercial owners are faced with new financial realities in 2022. Tenants’ desire for less space and the shortage of housing provide new opportunities for landlords by converting their office space and other hard assets to...more
Despite rising inflation, escalating material and construction costs, supply chain delays and general market uncertainty, the high-end residential construction market continues to experience record growth. According to recent...more
It was a relatively light Budget for the real estate sector. Highlights included the long-awaited announcement of the rate of the residential property developer tax and some reform of business rates....more
Following publication of the new Residential Property Developer Tax for technical consultation, we examine when this tax will be charged and the types of development activities that will bring developers within scope. The...more
California Gov. Gavin Newsom, on Sept. 16, 2021, signed into law Senate Bill (SB) 9, a landmark law that would allow for the ministerial approval of certain housing development projects containing up to two dwelling units...more
COVID-19 has had an enormous impact on businesses of all kinds. But organizations in the real estate sector—both commercial and residential—have been hit particularly hard. The fallout from the pandemic has sparked numerous...more