Recent years brought new stresses on the construction industry – COVID-19 shutdowns, supply chain woes, labor shortages and bank failures have slowed projects or put them entirely on hold. At the same time, the cost of capital has risen considerably.
NAIOP National Forums members attending last week’s annual Symposium had the opportunity to tour several projects in the office and life science markets in East Cambridge, Somerville and the greater Boston market.
Heidi Learner, head of innovation with Altus Labs, spoke to 800+ NAIOP National Forums members during their annual meeting in Boston about the outlook for the economy.
Members of NAIOP’s National Forums toured two components of the Boston seaport during their annual Symposium, hearing from the developers, investors and advisors shaping the site today.
California’s Title 24, the state’s energy code, has required solar for all low-rise multifamily projects since 2016, but new provisions have gone into effect this year, impacting any projects permitted since Jan. 1, 2023.
McKenzie Darr, a recipient of the 2022 Developing Leaders Award, has a career goal of building bridges – metaphorical ones, that is, between public and private sectors – to advance communities.
NAIOP chapters and members are advancing the interests of commercial real estate within state capitols across the country. Last week, members in North Carolina and Ohio traveled to their respective state capitols to engage lawmakers on solutions to the challenges facing the commercial real estate development industry.
There is no one path to commercial real estate development, but for Gregory Boler Jr., a recipient of the 2022 Developing Leaders Award, his career journey started with a mechanical engineering degree at Georgia State University. JLL’s Project and Development Services (PDS) Group interviewed Boler as part of an effort to recruit diverse entry-level talent in technical majors from historical black colleges and universities. He was one of four students selected and began his career working for JLL’s PDS Group in Atlanta.
The groundbreaking ceremony for a new building signifies the physical start of a construction project. In most cases, however, months or even years have already been spent preparing the land for future growth, as planners and developers work behind the scenes to make the property “shovel ready.” Attempting to market a property that is not shovel ready can be a significant barrier to making a commercial property sale. But what does it mean to have a shovel-ready property, and why is it so important?
On Monday, House Speaker Kevin McCarthy visited Wall Street to debut the latest House Republican proposal to raise the debt ceiling. In his speech, McCarthy stated that in the coming weeks, the House would approve a one-year increase in the debt limit that will include a reduction in discretionary spending to 2022 levels, while limiting future increases to 1% annually over the next 10 years.
