South Carolina Abandoned Building Incentives at Risk of Going Away
A recent bill introduced in the California State Senate would impose a tax on commercial buildings that have prolonged vacancies. Authored by California State Senator Caroline Menjivar, SB 789 is intended to discourage...more
Vacancy rates across the state are showing improvement, particularly in San Francisco, which reflects California’s housing shortage. Demand also remains strong, and supply is growing, suggesting confidence in the sector...more
With vacancy rates somewhat stable across the state, retail, residential, and other commercial functions are blending together, driven by consumer demand for convenience and offerings beyond traditional shopping. While malls...more
Continued pressures created by elevated levels of mortgage interest rates, vacancies, as well as stricter lending policies, point to higher capitalization rates, lower property values and tax appeal opportunities in 2025....more
On December 5, 2024, the New York City Council approved with modifications the NYC Department of City Planning’s (DCP) City of Yes for Housing Opportunity, the third and final of Mayor Adams’ City of Yes initiatives. The new...more
As discussed in our last update on the November 2022 Proposition M, Empty Homes Tax Ordinance (the “Empty Homes Tax”), the San Francisco Apartment Association, the Small Property Owners of San Francisco Institute, the San...more
With another interest rate cut, the capital markets appear to be more promising for real estate transactions; time will tell how this month’s elections will impact the real estate industry. ...more
It’s “Love your High Street Week”! So, what better way to start the week than to consider two significant legal reforms announced by the government last week, that are intended to boost and revitalise the High Street...more
Land banks and community land trusts (CLTs) are non-profit corporations each formed under Ohio law. They share similar missions to unlock the potential of vacant, abandoned, and/or tax-delinquent (VAD) properties....more
The commercial real estate (CRE) market in Florida, like much of the nation, is navigating significant challenges. Rising vacancy rates, increasing loan delinquencies, and tightening credit conditions have created a more...more
D.C. Council Chairman Phil Mendelson introduced the Vacant to Vibrant Amendment Act of 2024 (B25-1003) on Oct. 15, 2024. The legislation proposes several measures to help the District of Columbia (District) combat and remedy...more
A bid to bolster eviction protections for San Francisco’s oldest neighborhood businesses won key approval last Tuesday as city leaders contemplate a sweeping rezoning plan that stands to boost building height limits along...more
For over a year now, the City of Yes (“CoY”) zoning update, which aims to bring back more flexibility and density in development across the City, has been a hot topic of conversation in the New York City development sphere....more
Your property may be subject to one of Oregon’s lesser-known property tax limits, and you may not even know it. Even better, it may be possible for you to take action to increase the likelihood that this limit will apply to...more
Earlier this summer, bipartisan legislation was introduced in the U.S. House of Representatives aimed at spurring the redevelopment of existing underutilized or vacant commercial properties and converting them for residential...more
The Massachusetts Affordable Homes Act (H. 4977), signed into law on August 6, 2024, includes provisions intended to promote residential housing construction. These provisions: (1) require municipalities to permit accessory...more
On July 17, 2024 I attended a webinar hosted by First American Title about the commercial real estate (CRE) market in transition. Here are some important takeaways. In the overall economy, inflation peaked in the summer of...more
California Governor Gavin Newsom has signed an executive order that aims to jumpstart infill housing development projects. The executive order was coupled with a $94 million award to 15 counties to also support building on...more
Los Angeles Unified School District (LAUSD) Superintendent Alberto Carvalho said he is moving forward with an education platform driven by artificial intelligence (AI) designed to help students and families navigate the...more
This article summarizes some of the most significant amendments to the California Environmental Quality Act (CEQA) that were enacted in 2023. Some housing laws that relate to CEQA are discussed in the article, “Recently...more
Assembly Bill (AB) 3068 (Haney, Quirk-Silva, and Wicks) would provide for the streamlined ministerial (i.e., no CEQA) approval of qualifying adaptive reuse projects involving the conversion of an existing building to...more
New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more
CHICAGO — City Council to Consider Requiring Testing, Guidelines for City Government AI Tools- Chair of Chicago City Council’s Committee on Economic, Capital & Technology Development Gilbert Villegas (Ward 36) introduced a...more
Welcome to Construction & Claims, a periodic digest of the headlines, statutory and regulatory changes and court cases involving construction news, claims, bid protests, contract administration and payment-related disputes....more
Florida has attracted a lot of investors buying homes to rent out, as well as persons buying vacation or second homes. Additionally, some owners downsize or upsize their homes, keeping and renting out their old home after...more