'It Destroys The Revenue Model': Rise Of Remote Work Crushes Parking Operators

Despite being what one board member called the “worst example” of corporate real estate tax breaks, Invest Atlanta's board approved Invesco's $843K incentive package to move to Midtown Union. The board of Invest Atlanta, the economic development arm of the city, approved a $33.75M lease-purchase bond Dec. 17 by a vote of 6-3,…

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Goodbye, 2020, and good riddance. 

Every December, Bisnow looks back at the stories that shaped the year, including the most eye-popping deals and the trends that drove markets. Last year, we said 2020 could see the decade of growth end and real estate come crashing down, but we ended on optimism for the year ahead. So much for that.

It’s pretty obvious what defined 2020, not just for real estate but for much of the globe: the coronavirus, the resulting economic recession and the U.S. presidential election. We all know that the future of office is in question as everyone works from home, and we’re all too keenly aware that despite dining taking to the streets, the restaurant industry is in serious trouble. But other things did happen this year in real estate, and for this year’s installment of the deals and trends that defined real estate, we decided to focus entirely on that. 

Enjoy your politics and pandemic-free 2020 recap!

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In Case You Missed It...

You couldn’t dream up a worse kind of crisis for co-living than the coronavirus pandemic. For a sector that sells itself on bringing people together, a virus that means we have to stay away from each other is a nightmare.

Yet pushing against the fear of other people is a factor that works in co-living’s favour: the fear of loneliness, the isolation felt by those living alone during lockdowns. 

Those competing factors have been playing out in the performance of The Collective, a pioneer in co-living with operational assets and a big development pipeline in the U.S. and UK. As one of the largest global players in the sector, its fortunes in recent months and how it fares as the crisis recedes are something of a bellwether for the sector more broadly. 

Read the full story here.