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September 7, 2023

Chicago Multifamily Construction Slows As Pandemic, High Interest Rate Impacts Linger
Learn How Sustainability, Innovation And Historic Preservation Impact Chicago's Top Design Shops Oct. 12

Rapid-fire apartment construction has slowed in the Windy City following a pandemic-led boom, according to a new report, but that isn’t bad news for the city’s multifamily landlords, who are enjoying higher rents and occupancy than other metros as a result.

Chicago Multifamily Construction Slows As Pandemic, High Interest Rate Impacts Linger

The number of new apartments completed in Chicago has slowed from a high-octane pace between 2020 and 2022. In that period, developers completed 25,323 new apartments in the metro area, or an average of 8,441 per year, according to a RentCafe report. The city is projected to add 6,159 new…

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Storm Clouds Gathering Over Sun Belt Office Markets As Pace Of Migration Slows

The shine from the Sun Belt office market is beginning to look less bright. 

Sun Belt cities have seen a drop-off from pandemic-era highs of office leasing activity and migration as they succumb to the same macroeconomic pressures impacting the rest of the country. Some places where developers rushed to build offices speculatively are now reckoning with a wave of new inventory coming online as demand has fallen.

Storm Clouds Gathering Over Sun Belt Office Markets As Pace Of Migration Slows

"Developers are completing projects in those markets just as the market has slowed, especially from companies involved in the technology sector," said Michael Soto, the research director for Savills in Southern California. Leasing activity in the trailing four quarters ending June 2023 was down 13% across 11 Sun Belt cities tracked…

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Nightingale Negotiating Settlement In Case Of Missing CrowdStreet Millions

Investors who put tens of millions of dollars combined into two real estate crowdfunding campaigns sponsored by Nightingale Properties — a New York developer accused of misappropriating those funds — could be close to seeing some of their money returned in a settlement agreement.

Nightingale Negotiating Settlement In Case Of Missing CrowdStreet Millions

The revelation came in a Thursday morning status update hearing in the Chapter 11 bankruptcy cases of the entities formed to raise the investor dollars.The attorney who is representing the entities, which raised more than $50M combined from individual investors, told a judge in the U.S. Bankruptcy Court for the District…

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'Fighting Can't Hurt': Embattled Joppa Demands City Push Harder Against Heavy Polluters
'Fighting Can't Hurt': Embattled Joppa Demands City Push Harder Against Heavy Polluters  

Twenty-five-year-old Alicia Kendrick had lived in Joppa for only a short period when she became one of the community’s loudest voices for deindustrialization.

Like many who came before her, Kendrick’s advocacy began when she grew suspicious that her family’s health was being adversely affected by neighboring polluters. After speaking to her neighbors and realizing just how many were suffering the same fate, it was too late to turn back.

“You become this figure for a fight you didn’t know you were fighting, and then you can’t go back,” she said. “I can’t go back inside and act like I don’t know what I know.”

Joppa residents have fought to keep heavy industry away from homes for decades, but those efforts gained significant ground in 2020 with the launch of the Joppa Environmental Health Project, which aims to examine the link between exposure to particle pollution and the health of residents. The study is ongoing,…

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