Originally published on June 15, 2021, by Esther Fung for the Wall Street Journal.
During the worst of the pandemic, many landlords offered deals where ailing retailers paid a percentage of their monthly sales in rent—rather than a fixed amount—to help them survive. Now, this once temporary way of charging tenants looks poised to outlast Covid-19.
Originally published on May 2021 by Hany Guirguis, Ph.D., Manhattan College and Michael J. Seiler, DBA, William & Mary and the University of Cambridge.
The U.S. economy is experiencing a strong rebound from the COVID-19-induced recession, resulting in job growth in office-using sectors. However, tenant-safety concerns remain a drag on office leasing. The U.S. office market posted continued declines in net absorption in the fourth quarter of 2020 (-26.7 million square feet) and the first quarter of 2021 (-34.8 million square feet). Nonetheless, as coronavirus safety concerns abate and the economy continues to expand, negative net absorption is forecast to moderate over the next two quarters, with a return to positive absorption in the fourth quarter of this year (Figure 1). Quarterly net absorption in 2022 is expected to average 11.7 million square feet, in line with the 2015-2019 quarterly average of 11.6 million square feet.
Originally published on June 22, 2021, for NAIOP E-Newsletter.
In the wake of failed infrastructure discussions between the White House and Senate Republican leadership, represented by Senator Shelley Moore-Capito (R-WV), the focus of attention has turned to the second group of Senators attempting to forge a bipartisan deal. The effort, led by Senators Kyrsten Sinema (D-AZ) and Rob Portman (R-OH), gained momentum last week with the endorsement of 21 senators, including 11 Republicans and 10 Democrats. A draft framework of the plan leaked to the press last week, but the particulars of the plan remain in flux, subject to changes based on a review by President Joe Biden and the White House staff.
The following statement was issued by REBIC on Tuesday, June 22, 2021.
Last night the “Plan Policy” section of the 2040 Comprehensive Plan passed the Charlotte City Council by a 6-5 vote. This outcome had been widely expected for several weeks. In the end, REBIC took the position that moving ahead to the more difficult challenges, such as the debate over the “Implementation Strategy” and “Manuals and Metrics” sections, as well as the Place Type mapping and ultimately the Unified Development Ordinance (UDO) was in the best interests of all parties. It was evident that members of City Council had withdrawn to their respective corners and that any further compromise was not possible.
A few spots are still available to attend next week’s Breakfast with Principals. This event provides an opportunity to meet with fellow members, make connections, and discuss what is going on with NAIOP and Charlotte’s commercial real estate industry while enjoying breakfast from two of Charlotte’s local hot spots Community Matters Café and Nick’s Cafe.
Table hosts are Pete Kidwell, Beacon Partners, Pat Pierce, Selwyn Property Group, Sagar Rathie, Crescent Communities, and Chris Thomas, Childress Klein.
Space is limited to 6 people per table, with a maximum of 2 tables per location. This is a NAIOP member-only event.
There is no charge to sign up for this event. Breakfast will be on own – make sure to come hungry and help support local businesses!
If you have questions, please contact the NAIOP Charlotte office at [email protected].
Network with NAIOP members and guests at the Charlotte Beer Garden! Make new connections, catch up with friends, and enjoy the Charlotte summertime!
Learn more about the Charlotte Future 2040 Comprehensive Plan from Assistant City Manager, Taiwo Jaiyeoba.
Originally published by Richard Florida for Bloomberg CityLab on May 14, 2021.
Just last spring, a chorus of pundits loudly proclaimed a sweeping urban exodus and the impending death of cities. Now, just slightly more than a year later, our cities are springing back to life. Sidewalks are starting to bustle; restaurants, which have spilled onto the streets, are teeming with patrons; museums and galleries are reopening; and fans are heading back to baseball parks, basketball arenas and even outdoor concert venues.
Originally published in the Spring 2021 Issue by Jennifer LeFurgy, Ph.D. for Development Magazine.
Quarantines and business shutdowns fueled by the COVID-19 pandemic have led to a dramatic decrease in parking demand. Subsequently, many sectors of the economy that depend on parking revenue are facing budget shortfalls this year.
Next week, join the conversation with Charlotte native and distinguished architect, David Furman, as he talks about how he got started in the industry and what opportunities, successes, and challenges have shaped his 40+ year career.
Take advantage of this opportunity to meet and learn from a leader in the Charlotte community!
The recommended draft of the Charlotte Future 2040 Comprehensive Plan is now available online at cltfuture2040.com. The City of Charlotte is hosting a virtual Planning Community Conversation about the recommended draft on Thursday, May 27, from 5:30-6:30 p.m.
Anyone interested in participating must complete the community conversation sign-up form to speak during the meeting and submit questions or comments through the WebEx virtual meeting platform. The meeting will also be live on the City of Charlotte’s YouTube and Facebook pages, and staff will take questions submitted through the video comments.
Originally published on May 7, 2021, for the Building Design and Construction Network.
Construction employment was unchanged from March to April as nonresidential contractors and home builders alike struggled to obtain materials and find enough workers, according to an analysis by the Associated General Contractors of America of government data released today. Association officials said the industry’s recovery was being hampered by problems getting stable prices and reliable deliveries of key materials, while the pandemic and federal policies were making it harder for firms to find workers to hire.
On May 6, 2021, Marcus Jones, Charlotte City Manager, released a memo providing an update on the 2040 Comprehensive Plan. Included is a link to the 650+ comments from the community and the next steps. The timeline continues to move toward a release of the second draft of the plan on May 19 with a potential vote by the City Council on June 21. To access more information:
The CLT Development Center would like your opinion about their services and processes. Please click the link below to provide your input:
Share your perceptions of City services; please DO NOT evaluate Mecklenburg County as a part of this research.
Originally published on May 7, 2021, by the Building Design + Construction Network
Construction employment was unchanged from March to April as nonresidential contractors and home builders alike struggled to obtain materials and find enough workers, according to an analysis by the Associated General Contractors of America of government data released today. Association officials said the industry’s recovery was being hampered by problems getting stable prices and reliable deliveries of key materials, while the pandemic and federal policies were making it harder for firms to find workers to hire.
Originally published by Alice Devine for the NAIOP Spring 2021 Issue.
In Spokane’s University District, education meets industry in a 1.2-square-mile area adjacent to the city’s downtown. In this urban laboratory of sorts — populated by five of Washington state’s major universities, two medical schools and community colleges — students and nearby businesses enjoy a cluster of mutual benefits.
Charlotte is one of the nation’s fastest-growing cities, built amid diverse areas and unique neighborhoods, with families and people who recognize the qualities of a dynamic city. This growth, however, presents both challenges and opportunities alike. Due to this, the city is considering a plan that will guide this growth over the next several decades. This plan will directly affect every Charlotte citizen, both current and future, making it important you pay attention to this critical policy guide.
Over the past few months, you may have heard mentions of a “Charlotte 2040 Comprehensive Plan,” yet, the majority of Charlotte’s citizens have no idea what this is, much less what it means for our city.
Originally published on April 26, 2021 by Linda Strowbridge for NAIOP E-Newsletter.
Despite its traditional roots, construction has started to transform into a digital industry. Building information modeling, geospatial technologies, prefabrication and modular construction, drone services, augmented-reality wearables and other technologies are increasingly becoming a larger and more crucial part of successful, efficient, profitable construction projects.
On April 26, we will open nominations for the 2021 NAIOP Developing Leaders Award. Please encourage Developing Leaders in your chapter to apply for this annual honor. It is an excellent resumé booster. The deadline for applications is Friday, June 25.
Applications will be submitted online (link coming soon). Each applicant must submit a form completed by either the chapter executive director or a board member supporting the DL’s nomination (Chapter Support Form) as well as a Supervisor Consent and Recommendation form. Both forms will be available for download from the application website. Chapter executives will be notified of their chapter’s applicants once nominations are closed.
CREW Charlotte is excited to host its first in-person luncheon in over a year! Space is limited so do not delay.