RECA Weekly NewsWire
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September 8, 2016 In This Issue
Top Stories
Local News
National News
Austin Tree Experts
Professional Janitorial Service of TX
Top Stories
The commercial real estate landscape has been forever changed with the emergence of tech and the sometimes daunting vocabulary that goes along with it.
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As higher end second-time move-up and move-up demand softens, momentum kicks up for new entry-level communities
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Mall landlords are increasing partnerships with pop-up tenants in hopes of combating department store closures and the growth of e-commerce competition.
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Technology has revolutionized how we develop relationships: Online interactions are made with individuals we’ve never met, and conference calls often replace in-person meetings. Despite all the savvy tech at our fingertips, there’s one thing that can’t be achieved through a computer screen: personal connection.
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Local News
The once sleepy North Texas town of Frisco is currently experiencing a boom level of growth, as characterized by its "$5 billion mile" group of developments, according to the Dallas Morning News.
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The multifamily construction boom is finally catching up to Houston. Without the job growth to keep up, multifamily rents have decreased 14% from July to August.
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Goldman Sachs teamed up with Kor Group to develop a 500k SF hotel and condominium project in Downtown Austin. The 33-story project will have 244 hotel rooms and 99 condos priced at $600k to $3M. Large penthouses will make you really pay for the view—they sell for upwards of $8M.
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National News
This latest rule lifts many of the previous restrictions on the number of ADUs permitted per building. In this latest version, buildings with four or fewer residential units are allowed to add one ADU, while buildings with five or more units are able to add as many units as the existing building can accommodate.
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While smart city projects - such as Songdo and Masdar - have in the past over-promised and been over-hyped, it may be that smaller projects such as Babcock Ranch and Peña Station – built from the ground up with future residents in mind – represent the future of smart city development.
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Even though there are plenty of restaurant companies that are still growing, nearly half of them have become less profitable. Analyst sentiment is tepid, considering how positive sell-side analysts tend to be. If analysts are correct in their predictions of continued increases in labor costs, we may well be in for a few years of pullbacks for the sector.
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Apartment buildings without any car parking areas becoming more common, particularly in dense cities. Apartment buildings with bike storage are also becoming more common. But the Cykelehuset Ohboy! in Malmö, Sweden is a whole new type: it is an apartment building designed around the needs of people with bikes and cargo bikes.
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