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April 4, 2023

South Side Projects Commit To Affordable Housing, But Gentrification Concerns Remain

What Makes A Life Sciences Development So Unique? Find Out At The Lake County Life Sciences Real Estate Summit April 18
As billions of dollars are invested into developments on Chicago’s South Side — especially since construction on the Obama Presidential Center has gotten underway — community organizers are pushing for affordable housing and community investment to ensure longtime South Side residents aren’t displaced in the process of building new developments in historically disinvested neighborhoods.

South Side Projects Commit To Affordable Housing, But Gentrification Concerns Remain

Six years in the making, city officials and the development team for Bronzeville Lakefront broke ground on the infrastructure for the redevelopment project at the former Michael Reese Hospital on March 29. The $3.8B project, which is supported by $60M in city-funded infrastructure, will bring more than 5,000 residences —…

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Trump Pleads Not Guilty To 34 Felony Counts Of Falsifying Business Records

Trump Pleads Not Guilty To 34 Felony Counts Of Falsifying Business Records   Former President Donald Trump pleaded not guilty to 34 felony counts in a Manhattan courtroom Tuesday afternoon, according to media reports, making him the first former president to be charged with a felony.Trump was indicted by a grand jury last week on charges related to falsifying business records. The indictment was unsealed shortly before 3:45 Tuesday afternoon, and Manhattan District Attorney Alvin Bragg has yet to start a planned news conference to discuss the historic criminal proceedings. The investigation was reportedly…

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SPECIAL REPORT: Real Estate's Global Emissions Are Getting Worse. Many In Industry Have No Plans To Improve

 

Almost half of the world’s largest real estate investors, which between them own or control more than $1.2T of property, have no target to reduce the carbon emissions from their portfolios.

Real estate is responsible for 40% of global greenhouse gas emissions, but a Bisnow analysis of real estate’s 75 largest institutional investors, listed companies and investment managers found that 32 have no overall plan to reduce the amount of carbon they put into the atmosphere. 

It is vital that a sector responsible for such a large proportion of emissions cuts back on its carbon output, the United Nations has said, to ensure the world limits global warming to 1.5 degrees Celsius or less by 2050 and avoids the worst impacts of climate change. To do that, climate experts say real estate needs strong decarbonization targets, and the biggest owners and managers in the sector are instrumental in leading that process.

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With The Office Sector On The Brink, Industry Advocates Warn Of Broader Disaster Without Government Aid

With The Office Sector On The Brink, Industry Advocates Warn Of Broader Disaster Without Government Aid   Office towers in the heart of the country’s biggest cities had always been the gold standard of commercial real estate: a market’s most expensive properties, owned by its biggest players and counted on as reliable sources of revenue for owners, lenders and city governments alike. Now, owners of all but the newest and best buildings and the banks holding their debt are locked in a negative feedback loop of sinking value and vanishing liquidity. Without some sort of intervention or assistance from federal regulators or a bailout from elected officials, industry advocates say the office sector could collapse — and drag regional banks down with it, causing the sort of broad financial catastrophe that nearly occurred with Silicon Valley Bank.“We’re at risk of what happened in 2008 and 2009, but this time for commercial real estate rather than mortgages,” CCIM Institute Chief Economist and former commercial real estate adviser to the Federal Reserve KC Conway told Bisnow. One of…

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