Demand For San Diego Big-Box Retail Space Surprises On The Upside
More evidence that San Diego is an unusually resilient retail market: there has been a recent a surge of interest in big-box spaces, specifically in lower-priced residential submarkets, according to CBRE data. That is challenging the assumption that such space is becoming a thing of the past.
A considerable amount of vacant big-box space was brought onto the San Diego market in the first half of 2018, with close to 100K SF of that due to the bankruptcy of Toys R Us, according to CBRE's San Diego…
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The Next Big Crisis Will Be How To House The Aging Population
Seniors in the Bay Area already have limited options in a tight housing market, and for those in need of affordable housing, the situation borders on a crisis.
Eden Housing CEO Linda Mandolini has seen people line up at 4 a.m. just to get on a waiting list for housing. For a 150-unit property in Hayward, which included 50 senior housing units, Eden Housing received over 4,500 applications.
Not enough age-restricted housing has been built in the last decade, leaving a huge opportunity for developers to tap into a market with high demand and high occupancy rates. Affordable housing developers have struggled to keep up with demand from low-income seniors, with waiting lists up to 10 years long. Private developers that build market-rate senior housing are leasing up units faster than ever before.
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These States Have The Worst Crumbling Infrastructure In The Country
Some U.S. states have it worse than others when it comes to dodgy infrastructure, according to a new study by 24/7 Wall Street as reported by USA Today. The study looks at the condition of roads, bridges and dams — all critical elements…
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Developers Forced To Wean Themselves Off Chinese EB-5 Funding As Visa Waitlist Balloons
The EB-5 program, for years a reliable source of capital for builders in Miami, New York and other major U.S. cities, has been beset with fraud, long waits and uncertainty.
Chinese investors, who made up 85% of all EB-5 investors, are now facing up to a 15-year wait between the time they file their initial petition and the time they receive a green card. With such a backlog, developers are turning to investors in other countries — or giving up EB-5 funding entirely.
Thanks to a 1990 federal law that created the EB-5 program, wealthy foreigners can invest $1M in U.S. projects — just $500K in “targeted unemployment areas” — that create jobs and, in return, get green cards for themselves and their family members. Especially since the Great Recession, Miami has been a magnet for EB-5 money: it is an attractive destination for foreigners, and has plenty of neighborhoods that fit the bill for qualifying projects.
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Coworking And Kids: New Company Inks Deal In D.C. For First Space With More To Come
A new concept from two recent graduates of Georgetown's business school combines a coworking space with a day care center, and the company has just signed a lease for its first location.
Two Birds, previously branded as Hatch, signed on for 12,800 SF at 4001 Brandywine St. NW, a Douglas Development-owned building in Northwest D.C.'s Tenleytown neighborhood. Cushman & Wakefield's Theo Slagle and Mark Wooters represented Two Birds in the deal.
With the coworking…
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