Can Office to Residential Conversions Help Revitalize Downtown? (Audio)
A dissenting opinion in the Court of Appeals has long been a litigant’s Golden Ticket, at least until a recent statutory change. The mere existence of the dissent bestowed an automatic right of appeal to the Supreme Court of...more
Earlier this summer, bipartisan legislation was introduced in the U.S. House of Representatives aimed at spurring the redevelopment of existing underutilized or vacant commercial properties and converting them for residential...more
In May, I took note of this Form 8-K filed by P.A.M. Transporation Services, Inc. announcing board approval of a plan to convert the company's state of incorporation from Delaware to Nevada. The company has now filed...more
In a May post, I observed: As a long-time beneficiary of corporations fleeing other jurisdictions, Delaware may be tempted to put the brakes on its own corporations wishing to flee to the sunny uplands of other states. ...more
As the debate continues regarding DExit, I have been on the lookout for companies making the move from Delaware to Nevada. Recently, I came across this information statement filed by Viewbix Inc., a digital advertising...more
...The premier event was well attended by key players in the North Texas real estate industry and the event served as a unique platform for owners, operators, investors, developers, capital providers, and other industry...more
The Council of the District of Columbia held its second vote on the fiscal year (FY) 2025 Budget Support Act (BSA), which was unanimously approved on June 25, 2024. As part of the amended text, the Council funded the Central...more
Earlier this week, I noted that the stockholders of Fidelity Financial Inc. failed to approve a proposal to convert the corporation from a Delaware to a Nevada corporation. The vote was hardly decisive because more...more
Delaware's website boldly asserts "The DGCL [Delaware General Corporation Law] offers predictability and stability." I have somewhat waggishly observed, however, that you can read the DGCL cover to cover and still no very...more
Briggs v. Southwestern Energy Production Company, LLC is good news for Pennsylvania mineral owners bringing claims for subsurface trespass by fracking. In 2018 in “Briggs 1”, the Briggs family sued SWN for subsurface...more
Various state housing bills are currently making their way through the State Legislature that are expected to benefit mixed-income multifamily housing developers. The following summaries reflect the status of the legislation...more
Assembly Bill (AB) 3068 (Haney, Quirk-Silva, and Wicks) would provide for the streamlined ministerial (i.e., no CEQA) approval of qualifying adaptive reuse projects involving the conversion of an existing building to...more
New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more
The pandemic-driven rise in remote work has created a big opportunity for real estate developers to turn empty offices into apartments, condos, and other types of housing....more
Issuing convertible notes has long been an attractive capital-raising option for public companies. At its most basic essence, a convertible note is a debt instrument that pays interest and principal, but also carries the...more
Welcome to the trendy revolution of urban farming. Three years ago, Washington, DC, Mayor Muriel Bowser unveiled a plan to transform vacant office buildings in downtown DC into residential properties with hopes of creating a...more
As MMM's construction group discussed back in August of 2023, converting an office building into a multifamily residence is an intriguing concept but "not quite the silver bullet that will solve all the issues with both the...more
City of Los Angeles - Proposed Citywide Adaptive Reuse Ordinance - In 1999, the city council adopted the Adaptive Reuse Ordinance (ARO) that enabled the conversion of commercial buildings constructed in the downtown area in...more
The commercial real estate market is in a fragile state. The remote working trend is not reversing anytime soon, if ever. Some analysts believed that once the pandemic ended, people would naturally revert to the “old way” of...more
Several recent posts have addressed themselves to the litigation challenging the proposed redomestications of TripAdvisor, Inc. and Liberty TripAdvisor Holdings, Inc. from Delaware into Nevada. Palkon v. Maffei, 2024 WL...more
In Palkon v. Maffei, 2024 WL 678204 (Del. Ch. Feb. 20, 2024), the plaintiffs sought to enjoin the proposed conversions of TripAdvisor, Inc. and Liberty TripAdvisor Holdings, Inc. into Nevada. As noted in this post, Vice...more
On December 14, 2023, Governor Shapiro signed House Bill No. 1096 into law, now known as Act 49 of 2023 (Act 49), which allows certain hotel licensees to apply to the Pennsylvania Liquor Control Board (PLCB) to convert to...more
National and local news has been replete with stories discussing the challenges and benefits of converting underutilized commercial properties such as office buildings into needed housing. A recently introduced bill pending...more
The Delaware Court of Chancery, in Palkon v. Maffei, et al., C.A. No. 2023-0449-JTL (Del. Ch. Feb. 20, 2024), determined that a reduction in the liability exposure of a fiduciary due to the conversion of a Delaware...more
Earlier this month, the District of Columbia’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) issued proposed rules that lay the groundwork for a competitive process to provide gap financing of...more