Developing condos for doomsday-minded Americans, and Class B offices in New York City go green
Nov 14, 2014
Here are the news stories you might have missed this week:
The New York Times: Manhattan’s second-tier office buildings make energy efficiency a goal
While Class B office buildings might not have the prestigious addresses or luxury perks of New York City’s Class A spaces, they are following in the footsteps of some of New York’s most famous buildings by going green. Backed by government policies and pushed for by landlords, office buildings all over Manhattan are opting for more energy efficient features. Not only do eco-friendly offerings increase curb appeal, but landlords are finding that by replacing toilets and lighting with more efficient fixtures, they can reduce total operating costs. Read more about these green office buildings at NYTimes.com.
Curbed: Rich survivalists are buying fancy condos in old nuclear silos
If you built it, the rich survivalists will come. Developer Larry Hall is capitalizing on the doomsday-prepper economy by building luxury condos in a decommissioned missile silo in Kansas. The silo’s strong enough to survive a nuclear attack, and refurbished to house condos, a movie theater, a pool, and even a jail — a perfect sanctuary to live out the end of the world. While the development might seem excessive, Hall reports that every unit has sold, and that he plans to develop more of these luxury condos in Texas. Learn more at Curbed.com.
DallasNews: Commercial property sector investment forecast to grow in 2015
While the Great Recession froze the commercial real estate market, with CRE investments totaling just $67 billion in 2009, it’s finally time for the sector to rebound. As the economy continues its bounce back, CRE investments continue to increase, and are expected to go north of $400 billion next year. While that number’s still below the investment levels of a decade ago, the outlook remains positive as job growth is fueling more demand for office, warehouse, retail, and housing space. Hear the latest investment forecasts at DallasNews.com.
Silicon Valley Business Journal: Cupertino zones for more housing, office throughout city; Vallco area sees major land-use changes
Cupertino, Calif. — the home of Apple — is in dire need of office space. The city essentially ran out of office space a year ago, leaving developers desperate for zoning changes that would allow them to add more units. Luckily, the city council recently approved zoning changes that would open up 500,000 square feet of new space in the city and allow for the construction of 1,000 additional hotel rooms, significantly increasing development opportunities throughout the region. Read the whole story at BizJournals.com.