Convention centers head outdoors, and Austin, Tex. retail continues to thrive
Aug 29, 2014
Here are the news stories you might have missed this week:
The New York Times: Fresh air for conventions
Attending a convention no longer means being trapped inside all day. Convention centers throughout America are opening up their spaces and moving outdoors. Renovation projects to convention centers in Detroit and San Antonio are adding more open spaces, which have proven to be a success in Pittsburgh and Anaheim. Parks and plazas help integrate the space into the neighborhood and attract more attendees, potentially keeping more dining, shopping, and other retail business centralized around the convention center during a conference. Read more about it at NYTimes.com.
The Vancouver Sun: Digital 3-D models open door to new forms of analysis
New technology could change the way people view and analyze commercial properties. GeoSim, a 3D modeling company in Vancouver, Canada, has released software that conveys extremely detailed three-dimensional representations of commercial buildings, allowing appraisers, investors, and potential tenants to virtually tour a property. Though currently GeoSim has only a small section of the Canadian city mapped out, its potential is huge and could one day allow appraisers to virtually assess properties or investors to remotely analyze their portfolio. Learn more at VancouverSun.com.
CommercialObserver.com: Silverstein Seeks Demo Permit for Hudson Yards Tower
The redevelopment of New York City’s Hudson Yard continues to move forward. Silverstein Properties applied for a permit to demolish the current building in the space, paving the way for construction of the company’s 1,100-foot skyscraper. The area is one of the largest redevelopment areas in Manhattan and could add millions of square feet of commercial space to Manhattan’s far West Side. The skyscraper proposed by Silverstein Properties, if approved, would add more than 300,000 square feet of retail space to West 41st Street. More about the project can be found on CommercialObserver.com.
GlobeSt.com: Study Shows High Demand for Austin Retail
Demand for retail space remains high in Austin, Texas, according to industry research, due to strong demographics within the community and population growth. We’ve found that Austin’s vacancy rates are hovering around 5 percent, outperforming the nation’s average, with especially low vacancy rates around the University of Texas. Austin’s growth is slow and steady, aided by its resilience through the Great Recession. Find out more at GlobeSt.com.
Posted by: Raymond T. Cirz