Originally published on September 20, 2023, by Aquiles Suarez for NAIOP.

Usually, at this time of year, members of Congress and advocates for industry are strategizing on how best to position their tax priorities for inclusion in a year-end tax package. In many instances, success has depended on a tax title becoming part of a massive, must-pass omnibus spending bill that comes together in December, when senators and representatives desperately want to get home for the holidays.

Originally published on September 19, 2023, by Julia Wattick for NAIOP.

Every industry is being challenged to reduce greenhouse gas emissions, especially with the U.S. government’s commitment to combat climate change and increase funding for these efforts. The construction industry has a considerable impact on global greenhouse gas emissions primarily due to its significant contributions to operational and embodied carbon, accounting for 28% and 11%, respectively, of total emissions.

Originally published on September 13, 2023 by Kathryn Hamilton, CAE for NAIOP.

“Less than 2% of industrial space today is cold storage, and it probably needs to be at 15%. We’re not even in the first inning,” opened economist KC Conway in a keynote session at NAIOP’s I.CON Cold Storage conference this week in Atlanta.

Originally published on September 6, 2023 by Eric Schmutz for NAIOP.

Welcome to September! With temperatures starting to cool down, kids heading back to school, and football season kicking off, it’s easy to forget that the federal fiscal year ends at the end of the month. That means that there are only 11 days when both the House and the Senate are scheduled to be in session before the current federal funding authorization expires. Moreover, only one of the annual appropriations bills has passed the House and none have passed the Senate.

Originally published on September 5, 2023, by Matthew Preston for NAIOP.

The diverse Gen Z generation has a wide range of priorities when it comes to choosing a city to live in. Some value affordability while others prioritize education and employment prospects. Still others are looking for a city with abundant recreational activities.

Last week, members of Charlotte’s real estate community spoke with several Charlotte City Council candidates to learn more about their views and how they see the future of Charlotte. Thank you to our event sponsors: Canopy Realtor® Association, Charlotte Region Commercial Board of REALTORS®, NAIOP Charlotte, Home Builders Association of Greater Charlotte, Inc. and the Real Estate & Building Industry Coalition (REBIC).

As a reminder, primary elections are on Tuesday, September 12.

Photo Album

Originally published on August 30, 2023, by Gary Baragona for NAIOP.

The slow recovery of the U.S. economy continues to have an impact on the office market in Seattle as well as across the county. Despite steady job growth and moderate economic recovery gains during the first half of 2023, the Puget Sound regional economy is still struggling and will face continued headwinds during the near term, bringing an enduring sense of uncertainty and concern. According to the Puget Sound Economic Forecaster, regional employment grew by 3.1% in 2022 while job growth is forecasted to increase by an additional 3.3% in 2023 before dipping to 1.5% in 2024. Additionally, the consumer price index was at 8.9% to begin the year, with inflation forecasted to rise by 5.2% in 2023 and 3.1% in 2024.

Originally published on August 16, 2023, by Jim Villa from NAIOP.

Earlier this year NAIOP Wisconsin was made aware that the City of Wauwatosa was looking to fast-track the adoption of a transportation utility user charge or fee (TUF) in order to generate additional revenue for local transportation and infrastructure needs. The city cited the deferred maintenance of their aging infrastructure, fiscal infrastructure constraints set by state funding limits, and an equitable fee structure based on who uses the road for the new fee. The proposal was set to be considered for approval in July. Our concern was that the adoption of the transportation utility fee in Wauwatosa might lead to other cities considering similar unlawful measures for additional revenue.

Originally published on August 21, 2023, by the NAIOP Podcast: Inside CRE.

Mark, meet Marc. Mark Rose, chair and CEO of Avison Young, joins Marc on the podcast for a discussion about building a workplace culture that matters; what his experience tells him about challenges in the current economic climate; the rumor he’s heard about the Fed; and why he “couldn’t be more optimistic” about the office sector. Mark shares recent data about longer-term leases that may surprise you, talks about actively mentoring 14 professionals, and why he believes office space will return to the days when it was a key part of a company brand. Recorded on August 2, 2023.

Originally published on August 18, 2023 by Paul Bubny for ConnectCRE.

The role of amenities has evolved since the pandemic—not only in the office sector, but in the ever-evolving industrial space as well. To provide an up-to-the-minute look at trends in amenitizing commercial spaces, NAIOP will devote an entire panel discussion to the subject at its CRE.Converge conference, scheduled for Oct. 18-20 in Seattle. In advance of that panel, Connect CRE spoke with two of the panelists—moderator Dawn Riegel, Principal with Ware Malcomb, and Jinger Tapia, VP Design at Ware Malcomb—for a preview. Here’s what they told us.

Originally published in Summer 2023 by Robert Ferrin for the NAIOP Development Magazine.

Creative solutions and community engagement are crucial when dealing with changes to parking policies.

Minimum parking requirements, which require building owners to provide a fixed number of parking spaces, have played a key role in American municipal policy since the 1920s. Following their widespread adoption in the 1960s, these laws significantly impacted the design of cities and strongly contributed to the growth of a car-centric culture. Today, there are an estimated two billion parking spaces in the U.S., according to a March article in the New York Times.

Originally published in August 2023 by NAIOP.

NAIOP SELECTS FIVE EXCEPTIONAL YOUNG PROFESSIONALS TO RECEIVE 2023 DEVELOPING LEADERS AWARD

NAIOP, the Commercial Real Estate Development Association, has selected five professionals to receive its prestigious 2023 Developing Leaders Award. The annual award honors exceptional professionals under the age of 35 for their outstanding professional accomplishments, strong leadership, and significant community involvement. The winners will be recognized during NAIOP's CRE.Converge 2023, Oct. 18-20, in Seattle. 

Originally published on August 3, 2023, by Shawn Moura, Ph.D., for NAIOP.

Finding, training and retaining talent has grown more challenging for commercial real estate development firms in recent years. Baby boomers are gradually aging out of the workforce, increasing demand for younger workers who can take their place. At the same time, technological innovation and an evolving industry constantly shape the skills and duties that are required of commercial real estate professionals. Last year, the NAIOP Research Foundation convened the Talent Development Task Force to examine how industry practitioners and educators can work together to improve career preparation and expand the talent pipeline in commercial real estate. The Task Force recommended that NAIOP survey its members on the skills that CRE employees will need to succeed.

Originally published on August 8, 2023, by Rob Nanfelt the Executive Director for REBIC.

City Staff is seeking feedback on proposed revisions to two important manuals.  Details follow:

• Charlotte Streets Manual - Staff is proposing amendments to clarify the intent and processes referenced in the UDO.  They include:
• Process for amendment and adjustments to street design & type 
• Additional infrastructure mitigation options for development 
• Process for review/consideration of reduced parking requests (as allowed in UDO Tier 3 zoning districts)
• Proposed Amendments Draft (redline)
• Proposed Amendments Draft (clean version)
• Appendix of Amendments
• Send comments to Ed McKinney, Deputy Director, Charlotte Department of Transportation, (704)936-8350 before September 25th.

• Stormwater Control Measure (SCM) Design Manual - Charlotte-Mecklenburg Storm Water Services is currently in the process of revising the BMP Design Manual, which will now be called the Stormwater Control Measure (SCM) Design Manual.  Please provide any feedback to Gurveer Uppal by the close of business on Friday, August 18th.

Originally published on August 8, 2023, by Rob Nanfelt the Executive Director for REBIC.

During yesterday's meeting of the Transportation, Planning, and Development Committee, Charlotte Planning Director Alyson Craig provided an update on staff activities related to the new Unified Development Ordinance (UDO).  Here's what we know so far about the next round of proposed text amendments:

•  #2023-093 was filed on June 16th, had a public hearing on July 17th, and will be considered for adoption by the full City Council on August 21st.  This is a minor change and will ensure that homes built before June 1st, 2023, will be allowed as conforming uses in the OFC (office flex campus) and CG (general commercial) zoning districts.
• Another text amendment (not yet available for public review) was filed at the end of July and would allow multi-family uses in CG (general commercial) and CR (regional commercial) zoning districts.  According to staff, it will include elements of #2023-057 which was denied by Council on May 15th, primarily due to confusion over an attached drive-through provision.
• One more amendment that has not yet been filed will amend allowed uses in Campus Zoning Districts and may include the addition of a new district.  This has been a major point of contention and we welcome the clarification when it comes.

Also discussed was the May 22nd Council Referral regarding duplexes and triplexes in Neighborhood 1 Zoning Districts.  Staff is contemplating filing a future text amendment that would allow these units to comprise 70% of proposed developments with the other 30% required to be single-family homes located near the property line adjacent to existing neighborhoods.  How these percentages/ratios would be determined - portion of development related to size, number of units, number of structures - has yet to be determined.  Expect to see action on this in early fall.

A tree canopy analysis has been underway for some time and the results will be released in September/October with recommendations to follow.  Apparently, the findings will include significant details including the impact of carbon sequestration, temperature fluctuations, and growth models.  

Alyson Craig's Full Presentation

Originally published on July 25, 2023, by Diana Sabau for NAIOP.

In the post-pandemic office market, the “flight to quality” trend among tenants has been growing alongside increased demands for sustainability. Consequently, demonstrating to clients that a property is equipped with the latest in energy-saving technologies and smart materials is the new standard. And, increasingly, clients are looking beyond their office windows to take a more holistic approach to sustainability, considering factors such as the city’s commitment to reducing carbon dioxide emissions, plans to build electric vehicle infrastructure or the stringency of local building policies.

Originally published on August 1, 2023, by Brielle Scott for NAIOP.

Making progress on diversity, equity and inclusion (DEI) in commercial real estate may be challenging, but the workforce deserves – and increasingly demands – meaningful progress. However, organizations often aren’t sure where to begin.

Originally published on July 18, 2023, by Rhiannon Samuel for NAIOP.

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.

Originally published on July 27, 2023, by Trey Barrineau for NAIOP.

Electric vehicle (EV) use is accelerating, and commercial real estate owners can reap significant benefits from installing EV charging infrastructure at their properties. A recent NAIOP webinar explained how EV charging station implementation can attract and retain tenants, improve the property’s environmental score and generate new revenue streams.

Originally published on July 17, 2023, by the NAIOP Podcast: Inside CRE.

Marc sits down with Richard Branch, chief economist at Dodge Construction Network, a leading source of data analytics and insights on the commercial construction industry. Branch has us time-travel to the peak of the office market in 1985 (when the tax code allowed for extended depreciation); shares the latest data from Dodge on office renovation projects; and explores the link between the office market and popular culture, from “Mad Men” to “Office Space” to the end of the corner office. He discusses the hotel industry’s “aggressive rebound” post-economic crises; makes the case for why the office sector is here to stay; and shares the opportunities he sees for adaptive reuse in big cities and build-to-suit office space made for the hybrid work environment. Recorded on June 14, 2023.