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February 6, 2023

Developers Are Battling A Rent Control Movement In Suburban Maryland

Pre-Sale Tickets Now Available - Hotels On The Rebound: Bisnow Lodging Investment Summit (BLIS) & Afternoon Cocktail
Local lawmakers in suburban Maryland are backing a fresh wave of rent control legislation that would set rent caps far below the increases the market has seen in recent years.

Developers Are Battling A Rent Control Movement In Suburban Maryland

Last week, activists organized by CASA and other local organizations were joined by several Montgomery County Council members to rally in support of a bill to set a cap on rent increases. In neighboring Prince George's County, a bill that would set a temporary cap on rent increases at 3%…

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Vantage Plans Big Loudoun County Data Center Campus After $180M Land Buy

Vantage Plans Big Loudoun County Data Center Campus After $180M Land Buy

Vantage Data Centers plans to build a new 134-acre campus in Loudoun County.The developer has submitted an application with the U.S. Army Corps of Engineers to build what it calls a “large scale data center campus” in Ashburn, Data Center Dynamics first reported. The proposed campus would include four buildings and an electrical substation on a…

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Small Nuclear Reactors Could Power Data Centers Sooner Than You Think

Small Nuclear Reactors Could Power Data Centers Sooner Than You Think   Small nuclear reactors have been eyed for years as a more sustainable way to power the booming supply of data centers. Now, just as the industry faces growing issues with access to its traditional power sources, a series of new regulatory approvals and projects could make that nuclear future a reality sooner than expected. In late January, for the first time, U.S. nuclear regulators fully approved a small modular reactor for commercial use. That came after an October regulatory decision that allowed SMRs to be built closer to densely populated areas than traditional nuclear plants.  And last week, GE Hitachi and Canadian utility Ontario Power…

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PODCAST: BRP Cos. Managing Partner Meredith Marshall

 

For Meredith Marshall, the managing partner of BRP Cos., the answer to the housing crisis comes down to three main things: supply, supply and supply.

In the Bronx, his company is co-developing 1,000 workforce units at a project known as La Central. Last year, the firm delivered 500 housing units at the Crossing in Jamaica, and it is already underway with 600 more units in the same part of Queens.

Marshall is also no stranger to the myriad problems that slow housing: He is still working on trying to pull together the second phase of a project that was approved under the Bloomberg administration. He said not nearly enough money is being put toward the solution, and the number of steps developers must take to get a building out of the ground needs to be reduced.

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C-Suite Spotlight: Newgard Development Group CEO Harvey Hernandez

Newgard Development Group is getting ready to start construction on its latest development, a 44-story luxury condo tower in the heart of Miami designed with Airbnb hosts in mind.

The $300M Lofty Brickell building is 88% pre-sold ahead of construction, Newgard CEO Harvey Hernandez told the Miami Herald last month, and the 362 units come fully furnished and can be rented out for the short or long term. He has already developed similar towers in Austin and Miami and has two more sites primed for future residential next to Lofty.

Hernandez says there isn't enough innovation in commercial real estate — and in Miami right now, no blood in the streets either.

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