We need your voice!
Over the past few months, NAIOP Charlotte, in conjunction with REBIC and other real estate associations, has spent considerable time and energy reviewing the proposed 2040 Comprehensive Plan from the City of Charlotte (the Comp Plan).
Listening sessions available for deeper conversations on the Charlotte Future 2040 Comprehensive Plan
Due to the high demand for the opportunity to have deeper conversations around the Charlotte Future 2040 Comprehensive Plan, the city will be hosting several listening sessions. Listening sessions allow city staff to listen to community feedback on the plan. These sessions are separate and in addition to the Planning Community Conversation.
Originally published by Patricia Kirk on March 8, 2021 for WealthManagement.com.
Commercial real estate services firm CBRE has just invested $200 million to acquire a 35 percent share of flexible workspace operator Industrious, with plans to purchase another 5 percent in the near future, making CBRE Industrious’ largest shareholder.
Originally published on March 8, 2021, by VTS for CommercialObserver.com.
VTS, the commercial real estate industry’s leading leasing, marketing and asset management platform, has released a global survey of office landlords showing that while landlords are working hard to bring tenants back to the office in a COVID-safe environment, there is mass uncertainty about exactly which measures will best accomplish this and which are most desired by tenants.
Originally published by Tony Mecia on March 7, 2021, for Charlotte Ledger Business Newsletter.
The Charlotte Ledger’s Tony Mecia last week interviewed the chairman of Charlotte’s Real Estate & Building Industry Coalition (REBIC), Alan Banks, about the city’s proposed 2040 Comprehensive Plan. Banks is also the founder and president of Evans Coghill Homes, a Charlotte homebuilder.
Life sciences real estate was performing well before the COVID-19 pandemic struck earlier this year. For example, CBRE’s “U.S. Real Estate Market Outlook 2020” notes that the sector (including medical office) accounted for an annual average investment of $18.7 billion from 2014 to 2019.
However, the challenges and opportunities presented by the public health crisis have boosted interest and investment in the sector at a time when other areas of commercial real estate such as retail and office have struggled.
Originally published on March 3, 2021 for NAIOP News
NAIOP is again partnering with CEL & Associates, Inc. to compile the 2021 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey. A nationally known real estate advisor, CEL has conducted this survey –the largest in the industry – for 32 consecutive years.
Registration Rates Increase Tomorrow (Wednesday, 3/3)
Next week, hear exclusive insights on the current political climate at the state and federal levels from renowned political strategy consultants, Brad Crone (“The Democrat”) and Chris Sinclair (“The Republican”). Find out what both sides have to say about the changing real estate landscape, the new administration, and what key issues are impacting our state and industry. Submit questions for the speakers in advance here.
Despite the severe economic downturn of 2020, the U.S. construction industry grew. Direct expenditures for building and nonbuilding construction climbed $51.7 billion to reach $1.4 billion for the year. Total jobs supported by construction grew by 400,000. And construction’s percentage of total U.S. GDP rose from 19.5% in 2019 to 21% in 2020.
In the annual NAIOP Research Foundation study, “Economic Impacts of Commercial Real Estate,” Stephen S. Fuller, Ph.D., university professor emeritus, Schar School of Policy and Government at George Mason University, detailed construction activity and impact across real estate sectors, analyzed factors impacting growth rates and argued that robust support of construction activity in commercial real estate and other sectors could drive America’s economic recovery.
Join the CLT Development Center for the launch of our new Digital Plan Room!
The CLT Development Center has partnered with ePermitHub to launch the Digital Plan Room, a new electronic document review solution that is seamlessly integrated into the Accela Citizen Access environment. The Digital Plan Room is the next generation of electronic plan review. This solution will introduce many new features to optimize the plan review process, making it easier and faster for design professionals and plan reviewers to communicate so reviews can be approved faster with greater efficiency.
Public Input Sessions
The City of Charlotte’s Great Neighborhoods Committee is in the process of reviewing and evaluating the city’s current Non-Residential Building Code (NRBC) Ordinance. The NRBC Ordinance addresses interior, exterior, and property maintenance standards for commercial businesses. The NRBC ordinance was created in 2009 and has not been reviewed since it was originally passed by Charlotte City Council.
Originally published by NAIOP Research Foundation on February 22, 2021.
Originally published in the NAIOP Source E-Newsletter on February 23, 2021.
The Budget Committee of the U.S. House of Representatives was scheduled to begin work this week on assembling the $1.9 trillion coronavirus relief package following the submissions from nine House committees. The committees submitted their legislative proposals in accordance with the budget reconciliation instructions contained in the budget resolution passed by the House and Senate. The budget reconciliation process allows the legislation to bypass the Senate’s 60-vote filibuster hurdle normally applicable to legislation, enabling the bill to pass with a simple majority vote.
Originally published in the NAIOP Source E-Newsletter on February 23, 2021.
The COVID-19 pandemic has created challenging conditions for commercial real estate, particularly for speculative projects and for sectors that are more exposed to cyclical risk. However, it has also created opportunities, particularly as the economy emerges from the crisis.
U.S. demographics are becoming increasingly diverse. However, commercial real estate continues to lag, especially with representation in C-suite roles. At NAIOP’s 2021 Chapter Leadership and Legislative Retreat, Equality Institute CEO Bernadette Smith shared strategies to help real estate companies become more diverse and inclusive.
Originally published for GlobeSt.com by Kelsi Maree Borland on February 9, 2021.
If the latest impact survey from NAIOP is an indication, the recovery will be a bifurcated one. The organization conducts routine surveys to assess market activity during the pandemic, and the most recent shows investors continue to be wary about the market conditions. Investment activity has improved for resilient asset classes, but others continue to struggle amid the ongoing pandemic.
Originally published in the NAIOP Source E-Newsletter on February 18, 2021.
Dusty parking codes and parking minimums have contributed to the creation of between three and eight parking spaces per car in the U.S., cost real estate developers untold billions of dollars, and caused gridlock in urban centers. But now, these decades-old rules may be in for a dramatic overhaul as parking demand drops as much as 90% in many areas of the country, and municipalities and businesses consider these empty spaces for other uses.
Presented annually since 1979, the Developer of the Year Award is given annually to one developer that best exemplifies leadership and innovation in the commercial real estate industry.
Nominate your company for NAIOP's highest honor using our online nomination tool. Nominations close on Friday, February 26.
Originally published in NAIOP E-Newsletter on February 2, 2021.
Watch NAIOP's State of the Association hear a recap of 2020, preview NAIOP's legislative priorities, and learn what’s next for the association as we journey through 2021.
NAIOP members had the opportunity to learn about the association’s legislative agenda and its priorities for 2021 during the virtual 2021 Chapter Leadership and Legislative Retreat, including specifics regarding what might await the industry on tax policy in the new presidential administration.
Some of President Joe Biden’s proposals offered during his campaign for the White House would have profound implications for the commercial real estate industry if enacted. Coupled with some of the elements of his robust policy agenda, the fiscal situation Biden inherits means that we can expect that there will be a lot of pressure to increase revenues in order to pay for politically popular initiatives in a fiscally responsible manner. As the nonpartisan Committee for a Responsible Federal Budget noted in a research brief, Biden’s campaign proposals would raise federal revenues between $3.35 trillion and $3.67 trillion over a decade and would increase taxes for the top 1% of earners by 13% to 18% of after-tax income.
