South Carolina Abandoned Building Incentives at Risk of Going Away
On July 17, 2024 I attended a webinar hosted by First American Title about the commercial real estate (CRE) market in transition. Here are some important takeaways. In the overall economy, inflation peaked in the summer of...more
Los Angeles Unified School District (LAUSD) Superintendent Alberto Carvalho said he is moving forward with an education platform driven by artificial intelligence (AI) designed to help students and families navigate the...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
In 2024, we anticipate that the commercial real estate industry will continue to face distress with some stabilization. This alert focuses on three subsets of the commercial real estate market: retail, office, and...more
The landscape of commercial real estate investment encountered substantial hurdles in 2023. Challenges such as sluggish rent growth, reduced transaction volume, and the emergence of potential debt-related distress impacted...more
The Biden administration is launching a multi-agency effort to encourage states and cities to convert more empty office buildings into housing units, with billions of federal dollars available to help spur such transitions....more
Governor Newsom recently approved multiple state housing bills passed by the State Assembly and Senate. The following is a summary of a few of the key bills that are expected to benefit multi-family, mixed-income housing...more
The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) have launched the Manhattan Commercial Revitalization (M-CORE) Program to incentivize owners and...more
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - The Luxury Shopping Oasis Emerging in San Francisco’s Struggling Downtown (Wall Street Journal): Although local foot traffic may be down,...more
A federal appeals court on Monday overturned Berkeley’s first-in-the-nation ban on natural gas in new construction, agreeing with restaurant owners who argued the city bypassed federal energy regulations when it approved the...more
San Francisco leaders have a new plan to make it easier for developers to convert office buildings to housing downtown and in swaths of SoMa and Union Square....more
The Winter 2023 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey revealed some interesting trends in California CRE markets. Most notably, some of the optimism expressed in recent surveys has...more
During the height of the COVID-19 pandemic, offices, stores, and factories across the country were closed and shuttered. Those who could work from home did, while those who couldn’t collected unemployment and wondered if life...more
Owners of vacant commercial properties would do well to consider the impact of the ruling in Ludgate House Limited (LHL) v. Ricketts (VO) and London Borough of Southwark (2018), which was decided by the Valuation Tribunal for...more