Office-to-Apartment Conversions – A Good Idea, but Tricky to Pull Off (Audio)
As part of a strategy to combat rising commercial office vacancy rates, Fairfax County, Virginia, has announced a series of strategy recommendations that include potential updates to its building repurposing policy, providing...more
Last year, in V.I.T. Estates Ltd. v New Westminster (City), 2023 BCCA 183, the British Columbia Court of Appeal (BCCA) dismissed a challenge to a municipal bylaw that restricted zoning to residential rentals. The court found...more
“Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your competition, customers and business.” — Mark Sanborn. This past July, Boston Mayor Michelle Wu,...more
We all take real property purchase agreements seriously. We read only the title and we know that a transaction is likely to occur, perhaps a significant one. We can also reasonably expect that there will be a property, a...more
The industrial real estate sectors in Calgary and specifically, Rocky View County, and Edmonton, have experienced a consistent demand for both purchase and lease transactions over the past several years. This is driven by a...more
In our second episode of Lay of the Land, hosts Heather Horowitz, Jen McCosker, Christian Major, Tobias Gries, and Anna Amprimo discuss office asset market trends in the United States, Australia, the UK, Germany, and Italy....more
The average vacancy rate for laboratory and research and development space across the top 13 U.S. life sciences markets stood at 9% in the second quarter, up more than four percentage points from a year earlier and more than...more
California was, by January 1, 2023, home to nearly 470,000 jobs that generated $413.7 billion in total business output in 2022, according to Biocom California’s 2023 Economic Impact Report. This represents a nearly 8 percent...more
Bennett Jones was pleased to host an oversubscribed NAIOP panel discussion on current issues in office financing, and I am happy to share my key impressions from what was a compelling and thoughtful dialogue....more
As many companies settle into hybrid work models, office occupancy rates in the United States have flatlined during the first half of 2023. In the Borough of Manhattan (the Borough) in New York City, upwards of 255 million...more
Empty office buildings downtown. A housing shortage in almost every major market. Is there a way to address both issues at once by converting historic but underutilized office buildings into apartments and condos in city...more
Ontario courts have long wrestled with whether requisitioning the closure of an open building permit is a valid buyer requisition when made pursuant to a standard Ontario Real Estate Association (OREA) real estate form...more
ZUSAMMENFASSUNG UND FAQS FÜR GEWERBLICHE VERMIETER UND MIETER - Anlässlich der weltpolitischen Entwicklungen hat die Bundesregierung zwei Verordnungen zur Sicherung der Energieversorgung über kurzfristig wirksame Maßnahmen...more
COVID-19 shook nearly every industry to its core, but never more so than for commercial office space. Before the pandemic, downtown office space across the United States favored landlords in virtually all aspects of...more
Twenty-seven months ago, we couldn’t begin to comprehend the length or severity of the pandemic, nor its long-term effect on commercial office space. Today it is still not possible to make an accurate prediction, but a few...more
Attorney Kimberlee Stafford studies office-to-apartment conversions as a possible response to the housing crisis. Apartments, Commercial Buildings, Conversion, Office Closures, Residential Leases, Single-Family Housing,...more
At the Allen Matkins 14th Annual View From the Top real estate summit, one of the panels discussed landlord and tenant space utilization trends and issues in the wake of the COVID-19 pandemic. The conversation, moderated by...more
As the COVID-19 pandemic recedes and the workforce gradually returns to the office, the commercial real estate industry will rely on PropTech to adapt. Building developers, construction companies and property managers will...more
Given the continuing pandemic, there is much uncertainty about how the experience of working from home will affect today’s office space market. The panelists' of the latest Allen Matkins/UCLA Anderson Forecast California...more
It can be difficult for business leaders to assess how climate change will impact commercial real estate finance. The sheer volume of climate information in the public domain is beset with politically charged debate,...more