A new proposed rule change to how air quality permits are issued in the Albuquerque metro has many economic development organizations, associations and businesses very concerned. While the goal of protecting vulnerable communities and improving air quality is necessary, we must also carefully consider the impact of rigid regulations on economic development.
Last week, House of Representatives Ways and Means Committee Chairman Jason Smith (R-MO) kicked off what is expected to be months-long congressional negotiations over tax legislation.
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.
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.
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.
America faces a multipronged real estate crisis. We have a stubborn residential housing shortage, high office vacancy rates, and flight from many downtown hubs that is killing off businesses servicing those areas. Converting office towers into housing could solve multiple problems at once.
The Canadian government enacted legislation on Jan. 1, 2023, that disrupted commercial and residential real estate development across the country. The Prohibition on the Purchase of Residential Property by Non-Canadian Act (the “Act”) was originally intended to be a demand-side solution to make housing more affordable for Canadians by prohibiting residential purchases by non-Canadians over the next two years. However, the regulations under the Act, released only a week before enactment, unintentionally halted commercial investment in current and future residential and mixed-use projects in major metro areas.
NAIOP’s chair shares his thoughts on our industry, his goals this year as chair, why advocacy matters, and the value provided by NAIOP.
President Joe Biden submitted his proposed fiscal year 2024 federal budget to Congress on March 9. It contains numerous tax increases that repeatedly failed to clear the House of Representatives and Senate even when these chambers were controlled by Democrats. But the president’s budget submission makes sense if you acknowledge that its primary purpose is as a political messaging document, meant to provide a contrast between his administration and Republicans in advance of the 2024 presidential election.
Members from the five NAIOP chapters in Florida traveled to Tallahassee last week for a joint NAIOP-ICSC legislative advocacy Day at the State Capitol. The two-day event provided an important opportunity for attendees to meet with their state lawmakers and government officials and advance the interests of the commercial real estate industry.
