As Jobs Grow And Traffic Slows, East Bay Cities Focus On TODs
Woodstock Development President Kirk Syme is working on one of the largest continuous transit-oriented developments in the East Bay, but he isn't fazed by the daunting task. TODs are the developer's life blood right now, and the company is working to meet a critical demand from users wanting to be closer to transit.
“We're very focused on transit-oriented projects right now,” Syme said. “We're not even considering ones that aren't transit-oriented.”
Woodstock Development has built TODs in downtown Redwood City and downtown San Mateo. It is in the process of building a 1.2M…
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Survey: California's Industrial, Multifamily Markets Remain Hot, While Retail Not
Multifamily and industrial are hot in California while retail has stagnated, and office has reached the top of the cycle. These are the latest findings from the Summer/Fall 2018 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey.
The biannual…
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Report: Trump Immigration Policies Could Put Nearly 100,000 Construction Workers At Risk Of Deportation
Already under strain due to years of accelerated development, the construction labor pool could take another hit under the Trump administration's immigration policy goals, according to reports.
President Donald Trump ended the Deferred Action for Childhood Arrivals program in September, and a series of legal challenges and congressional debates is all that stands between the program's nearly 700,000 immigrant beneficiaries and potential deportation. Eleven percent of those…
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Undaunted By Puerto Rico's Financial Mess, Hospitality Industry Blazes Ahead
“As you can imagine, things are a bit crazy here,” said Emilio Colón-Zavala, president of ECZ Group and head of the Puerto Rico Builders' Association, this month — even though it has been almost a year since Hurricane Maria slammed his homeland.
Puerto Rico is still recovering from hurricane-related infrastructure failures (the water system was long-neglected and the electric company has had five CEOs in a year) as well as a decade-plus financial crisis. The commonwealth owes creditors a whopping $124B, and bondholders are fighting over who will be repaid. Investors are looking to scoop up distressed properties or take advantage of generous tax incentives, and cryptocurrency entrepreneurs have invaded with a vision to remake the island and run it on bitcoin. Meanwhile, residents still struggle; the average family income is about $20K.
Amid these challenges, the hospitality industry is putting on its best face and charging sunnily ahead. Most hotels in the commonwealth are back open or will resume operations by the time high season begins in September; some already had record occupancy for spring break.
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Real Estate Strategy Drives Fast Growth For Big-Box Retailer At Home
Home-décor retailer At Home Group is defying big-box trends by going on an expansion tear.
Strongly anchored in its home base of Dallas-Fort Worth, which is getting three new At Home locations, the company is implementing a strategy to expand the brand nationally to 600 stores, including opening about 15 new stores this year.
“Our goal is to be growing our store base by 20% a year, and that's what we've been doing,” Vice President of Real Estate Dean Zurmely said. “It's a great time to be in real estate at this company. It's a little bit odd because there aren't many big-box [retailers] that are expanding.”
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