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Economic Impacts of Commercial Real Estate, 2022 U.S. Edition

 

originally published by Brian Lewandowski, Jacob Dubbert, Michael P. Kercheval, Ph.D., and Richard Wobbekind, Ph.D. with permission to repost.

NAIOP Economic Pic

Development and construction of new commercial real estate in the United States – office, industrial, warehouse, and retail – generates significant economic growth at the state and national levels. This annual study, “The Economic Impacts of Commercial Real Estate, 2022 U.S. Edition,” published by the NAIOP Research Foundation, measures the contribution to GDP, salaries and wages generated and jobs supported from the development and operations of commercial real estate.

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News from Around the Region

 

originally published by REBIC for Two for Tuesday with permission to repost.

Davidson

Bridge

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Charlotte Fire Department Update

 

originally posted by REBIC for Two for Tuesday with permission to repost

Charlotte Fire Department Pic

Starting 15 February 2022, Land Development application permits submitted will have to comply with NCIFC 507.1 and 507.5.1. for hydrant spacing. Hydrant spacing to sprinkler system FDC, (both NFPA 13 and 13R) will have to be within 200’ of truck travel to the respected fire hydrant.

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REBIC City of Charlotte Update

 

originally published by REBIC with permission to repost in NAIOP Charlotte

Two for Tuesday - REBIC

Alyson Craig has been named Interim Planning Director for the City of Charlotte and will officially begin her new role on February 1st. Likewise, the comment period deadline for the first draft of Charlotte’s Unified Development Ordinance (UDO) has been extended from January 14th into late February or late March. A final determination on that will likely be made during next Monday’s council meeting. The Transportation, Planning, & Environment Committee will receive a briefing at its regularly scheduled meeting earlier that day. As a result, some of the community outreach meetings have been rescheduled for later in the month. 

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City Releases Easy to Understand Reference Guide of Unified Development Ordinance

 

originally published by City of Charlotte with permission to repost on NAIOP Charlotte

City of Charlotte Pic

City Releases Easy to Understand Reference Guide of Unified Development Ordinance

CHARLOTTE, N.C. (Nov. 24, 2021) – The City of Charlotte on Wednesday released an easy-to-understand reference guide of the first draft of the Unified Development Ordinance.

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Charlotte Future 2040 Policy Map Survey

A special thanks to Elizabeth McMillan at Crescent Communities for sharing this information below.  Please pass along to your colleagues.

As a follow-up to the Charlotte Future 2040 Comprehensive Plan, the Charlotte Planning Department has moved into Part 2 of the implementation phase, the Charlotte Future 2040 Policy Map. This part of the process will translate the plan’s place-based policies to specific locations throughout the community.  The Planning Department has put out a survey to collect data and input from residents and professionals to help influence the Policy Map, which will help guide the UDO.

Please feel free to share this email with others in hopes that more of our voices can be heard.

Complete Survey

** The first page sets the stage for the previous work and gives an overview of the process, so may be helpful if you need a refresher.

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Important Government Affairs Update

Top 3 Items to Note:

  1. We are making significant progress on our efforts to identify and bring aboard a seasoned individual to provide additional eyes and ears on the ground in Iredell County and Cabarrus County.  More on that to come later this week.
  1. The City of Charlotte is seeking development/real estate representatives to serve on two advisory boards created by the passage of the policy section of the 2040 Comprehensive Plan.  It is essential we engage qualified and knowledgeable individuals to fill these positions.  We have an incredible opportunity here and I could use your help.  (Deadline is Friday, August 27th, details follow)
Charlotte Equitable Development Commission
The Charlotte Equitable Development Commission was created with the adoption of the Future Charlotte 2040 Comprehensive Plan by City Council resolution on June 21, 2021. The Commission is charged with advising in the assessment of infrastructure throughout the city and recommending strategies that balance equitable investments in areas most in need, including areas with absent and insufficient facilities, areas growing fastest, and areas targeted for growth. The Commission will work with the Office of Strategy and Budget to provide input on the development of the city’s proposed Capital Investment Plan. The Commission will provide regular updates to the Budget and Effectiveness Council Committee and quarterly reports to the entire Council.  The committee will consist of individuals with significant backgrounds in community development and infrastructure assessments. Examples of preferred experience shall include consulting engineers in the project development business; attorneys specializing in development; developers; independent business representatives; construction contractors; bankers or insurance agents engaged in the financial aspect of development; representatives from homebuilder's association; homeowners or neighborhood association representatives.
9 Members (3 appointments by Mayor, 6 appointments by City Council), Term Length – 3 years, 1 term
 
Charlotte’s Neighborhood Equity and Stabilization Commission (Charlotte’s NEST)
The City of Charlotte needs to address displacement caused by gentrification in a comprehensive, broad, and systematic, intentional manner. The recently adopted 2040 Comprehensive Plan includes the establishment of the Charlotte Neighborhood Equity and Stabilization Commission (Charlotte’s NEST). The City currently has an adopted Affordable Housing Framework coupled with a number of neighborhood programs that are used to address gentrification. However, the City desires to engage the community in developing additional strategies to limit displacement. Therefore, the Charlotte Neighborhood Equity and Stabilization Commission is established for a 3-year period and is charged with reviewing and recommending specific anti-displacement strategies and specific tools for protecting residents of moderate to high vulnerability of displacement. The Commission will make regular reports to the Great Neighborhood Council Committee, quarterly reports to the entire Council and provide recommendations for combatting displacement prior to the implementation of the Plan.
15 Members (5 appointments by Mayor, 10 appointments by City Council) who shall be appointed according to the following criteria:
- 3 appointees - Housing Advocates (1 appointed by Mayor, 2 appointed by Council)
- 3 appointees - Neighborhood Leaders or Community Organizers (1 appointed by Mayor, 2 appointed by Council)
- 3 appointees - Involved in the Real Estate Development Industry as specified below:
- Non-Profit Affordable Housing Developer (1 appointment by the Mayor)
- For Profit Affordable Housing Developer (1 appointment by the Council)
- Market Rate Housing Developer (1 appointment by the Council)
- 2 appointees - Residents who have experienced or are experiencing displacement (1 appointed by Mayor, 1 appointed by Council)
- 1 Urban Studies and Planning Representative with experience in displacement and gentrification and implementing equitable inclusive development strategies (1 appointment by the Mayor)
- 1 Housing Finance Representative with experience in rental housing finance and homeownership and affordable and subsidized housing (1 appointment by the Council)
- 1 Land Use Representative with expertise and experience in historic preservation and landmarks, zoning, and development rights (1 appointment by the Council)
- 1 appointee - Neighborhood Conditions Representative with expertise and experience in economic development, health, racial/ethnic segregation, schools and education and crime (1 appointment by the Council)
Term Length – 3 years, 1 term
 

For more information on the new advisory boards, please visit: https://charlottenc.gov/CityClerk/Pages/BoardsandCommissions.aspx

 

  1. The next phases of CLT Future 2040 (mapping and UDO) are underway –
    • Alan and I had our second monthly meeting with Taiwo and Alyson last Thursday.  As a result of that meeting, REBIC will be putting together a small group of design professionals that will meet with planning staff every two weeks (for as long as necessary) beginning a few days prior to the public release of the UDO on October 4th.  These meetings will allow REBIC representatives to provide feedback and to receive an immediate response, much earlier in the process, on elements of the proposed ordinance that could be problematic if implemented  It also allows us to be a cheerleader for those things in the UDO that help streamline the process and reduce development time frames.
    • Brenda Hayden will be joining Alan and me for the monthly meetings beginning in September.
    • A brief presentation containing the projected schedule for mapping/UDO is here.
  • Due to recent and higher than anticipated COVID infection rates, the Government Center has been closed to the public for the time being.

City of Charlotte - Draft Policy Maps

 

This is a very busy time, but a time to be involved and aware of what is happening in Charlotte.  Yesterday (10/13), the City of Charlotte released a draft of the Policy Maps. 

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Two for Tuesday - First Draft of Charlotte UDO Released

originally published by REBIC with permission to repost on NAIOP

Two for Tuesday


 

#1) First Draft of Charlotte UDO Released

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Two For Tuesday - 9/30/2021

Originally published by REBIC with permission to re-post through CRCBR.

Two for Tuesday - REBIC


 

 

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Congratulations to our Fall Golf Tournament Winners!

Congratulations to our Tournament Winners!

Thank you to all our Participants and Sponsors!

We had an amazing turnout at this year’s CRCBR/NAIOP Charlotte Fall Golf Tournament. Thank you to everyone who came out on September 27 at Carolina Golf Club and congratulations to all of our tournament winners!

Golf Pic

View Photos

Check back for more photos coming soon!

Gross Winners

Our first place winners based on GROSS were:

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House Ways and Means Committee Continues Markup as Senate Returns

Originally published on September 14, 2021, for NAIOP E-Newsletter.

The House Ways and Means Committee, chaired by Rep. Richie Neal (D-MA), will continue its committee markup this week of provisions to be included in the estimated $3.5 trillion reconciliation legislation to be considered by the House. The committee is conducting the markup remotely, as the full House is not scheduled to return until next week. The Senate returns this week, and Senate Majority Leader Charles Schumer (D-NY) has tasked Senate Democratic committee chairs with having their reconciliation bill language ready by Sept. 15.

 

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Survey Shows Progress in Diversity Efforts in Real Estate Investment Management

Originally published for NAIOP's Development Magazine Summer 2021 Issue by Trey Barrineau.

However, a lot of work remains despite tangible advances in recent years.

Women and minorities have made some progress in reaching the C-suite in commercial real estate investment management firms during the past few years, but the 2021 NAREIM Diversity & Inclusion Survey shows that there is still a lot of work to do.

“Material, sustained changes will take time to show through in the data,” said Zoe Hughes, CEO of NAREIM, in a release. “But what is clear is that there is a mandate and momentum for DEI (diversity, equity and inclusion) to be a priority within the real estate investment management industry.”

The survey, conducted by NAREIM and executive recruitment firm Ferguson Partners, reveals that the real estate investment management industry as a whole is mostly male and white. Men, who are 49.2% of the U.S. population according to the U.S. Census, comprise 60% of full-time employees in the real estate investment management, and non-Hispanic whites, who are 62.8% of the U.S. population, represent 73% of workers. (Blacks make up 6% of the industry, while Asians and Hispanics each represent 10% of CRE investment-management staffing.)

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The Acceleration of E-commerce and the Modern Supply Chain

Originally published on September 1, 2021, by Kathryn Hamilton for NAIOP Newsletter.

The term “supply chain” was coined on June 4, 1982, when the Financial Times published an article that used it as a replacement for “production and inventory management.” Now a permanent part of our lexicon, looking back at just how the supply chain has grown and changed over four decades is how a panel of industry leaders began their presentation at NAIOP’s I.CON West, held this week in Long Beach, California.

“Take a walk back to the 1980s,” invited Rich Thompson, international director, supply chain & logistics solutions, Americas, JLL. “There were no laptops, no internet, no cell phones, and no Amazon. Catalog orders took around 14 days to arrive, and retail real estate was hot.”

Today, the supply chain is an increasingly popular field of study, Amazon is the second-largest employer in the U.S. and the third most valuable in terms of revenue, and online orders are delivered in two days – or less – at no change. Industrial is hot.

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Four Perspectives on the State of the CRE Economy

Originally published on September 1, 2021, by Marie Ruff for NAIOP News.

Commercial real estate professionals always seek to determine where markets stand now and what to expect for the future. That future is particularly uncertain today as we see the continued impacts of the COVID-19 pandemic.

JLL Chief Economist Ryan Severino shared his economic analysis in a keynote address at NAIOP’s I.CON West this week in Long Beach, California. In his role at JLL, Severino is responsible for global and regional economic research, analysis and forecasting, as well as property market forecasting. He presented four perspectives on the economy ranging from the short-term to the industrial-specific.

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A Few Spots Remain! Networking Social Next Tuesday – Register Now!

September Networking Social
A few spots left!
September 21 | 4:30pm – 6:00pm | Cordial

Next week’s social at SouthPark’s first rooftop bar is almost sold out! Enjoy some after-work beverages while catching up with friends and making new connections. This event is for NAIOP Charlotte members only. Limited space is available.

Thank You to Our Event Sponsor!

 

Registration

Registration is $15 & pre-registration is required. Onsite registration will not be available.



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Transformative Lessons for Commercial Real Estate Leaders

Originally published on August 24, 2021, for NAIOP News.

Through his experience leading a turnaround as the former CEO of Prologis, Walt Rakowich realized leaders today must lean into timeless values and principles, but with a fresh perspective on the new and complex realities of our leadership climates. In a keynote address next week at I.CON West: The Industrial Conference, Rakowich will share advice on engaging your values and your organization with purpose and passion. Join the 700+ industrial real estate leaders planning to attend I.CON West next week in Long Beach.

 

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Networking Social on September 21 | Register Now!

September Networking Social
September 21 | 4:30pm – 6:00pm | Cordial

Network with NAIOP at SouthPark’s first rooftop bar! Enjoy some after-work beverages while catching up with friends and making new connections. This event is for NAIOP members only. Limited space is available. 

Thank You to Our Event Sponsor!

 

Registration

Registration is $15 & pre-registration is required.


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Two for Tuesday - 2040 Comp Plan Town Hall!

#1) 2040 Comprehensive Plan - Next Steps with Councilmembers Renee' Johnson and Victoria Watlington

The first draft of the Unified Development Ordinance (UDO) is expected to be released to the public on or around October 4th. A recent presentation from Planning Staff to Charlotte’s Transportation, Planning, & Environment Committee contained the following:

  • 6-foot sidewalks everywhere (increased from the current 5-foot regulation) (pdf page 20)
  • All parking to rear or side of attached housing (pdf page 18)
  • Future right-of-way exactions (pdf page 20 & 21)
  • The developer provides bus shelters as a condition of approval (pdf page 20)             
  • Traffic Impact Studies (TIS) for all development even “by right” (pdf page 21)
  • “By right” infill may be subject to greater stormwater regulations and tree save (pdf page 22 and 23)
  • Greater tree save rules (pdf page 23) 

These provisions will add substantial costs and likely disincentivize future infill development. We will continue to track them through the process and voice our concerns regarding adverse consequences.

 

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Stairs on the Rise

Originally published by Shantala Weiss for NAIOP's Development Magazine.

Monumental stairs can inspire greater interaction, reduce energy costs, and improve employee health and fitness.

In the wake of COVID-19, workplaces are presented with a unique opportunity to shape corporate culture's future and use physical space to foster a sense of community and innovation that can’t be offered when working from home. Building elements that align with the goals of active, sustainable, and universal design have the potential to play a crucial role in post-pandemic commercial real estate. 

COVID-19 has challenged vertical transportation strategies in buildings, which have historically relied on elevators. Ongoing concerns about physical distancing and touching surfaces mean that people may be reluctant to use elevators.  A well-dimensioned stair offers enough space for people to ascend and descend simultaneously, giving occupants more room to move than a narrow fire escape or elevator.

“COVID-19 noticeably accelerated the trend of monumental stairs in offices and other commercial spaces,” said Jim Admiraal, executive vice president of sales and preconstruction at Synergi, a national stair design-led subcontractor. “We saw an immediate spike in design plans featuring stairs as a primary vertical mode of transport for major projects all over the U.S.”

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