Boston celebrates a real estate milestone, and a Big-Apple-sized idea takes root in Atlanta
Dec 18, 2014
Here are the news stories you might have missed this week:
The Boston Globe: Boston real estate assessments eclipse $100 billion for first time
Boston’s most recent property assessment has been completed, and the city’s total property value has surpassed the $100 billion milestone. Even with a wealth of construction projects in development, demand for commercial and residential real estate is outpacing supply, and significantly driving up property values. Major redevelopment projects, such as the revival of the Seaport District, served as the cornerstone of the city’s real estate overhaul. Learn more about the impacts of Boston’s latest valuation at BostonGlobe.com.
Denver Business Journal: More on the cover story: Pot’s presence in properties
A number of industries have felt the side effects of recreational cannabis legalization in Colorado, yet one surprising market is reaping the benefits: industrial real estate. Though retail was most visibly affected by legalization, industrial properties are now seeing record-low vacancy rates throughout the state, as more cannabis companies seek quality class A and B properties. Read more about how legalization is changing Colorado’s real estate market at BizJournals.com.
GlobeSt.com: Multifamily development essential in 2015
With the U.S. economy predicted to hold steady throughout 2015, now’s the time for big cities to jump on the multifamily bandwagon. While multifamily development has been on the rise throughout the nation, some experts would like to see even more construction within the next year. Take Los Angeles for instance, a city that would significantly benefit from new multifamily housing, as it would attract new residents and businesses. Plus, with home prices expected to increase throughout the country, multifamily housing stands as the prominent housing option for the younger generation. To hear more 2015 insights, visit GlobeSt.com.
The Wall Street Journal: New life for an old industrial property – in Atlanta
Atlanta might be one of the weakest commercial real estate markets in the nation, but that’s not stopping developers from shooting for Big Apple success. Jamestown Properties, the developers behind New York’s Chelsea Market, has converted an old Atlanta industrial site, called Ponce City Market, into a multiuse mecca that combines retail, apartments, and office space. The method of converting industrial sites into mixed-use spaces is nothing new, and has shown significant success in big cities like New York, Boston, and San Francisco. Plus, Jamestown Properties is hoping that Ponce City Market only inspires more development throughout Atlanta. To read more about Atlanta’s latest development trend, go to WSJ.com.