Investors are moving on from Manhattan, and the plan to import tech to Miami
May 8, 2015
Here are the news stories you might have missed this week:
Bloomberg: The real NYC housing boom isn’t in Manhattan
To find the best investment opportunities in New York City, you have to take the B train to Brooklyn. Luxury apartment and condominium developers are throwing money into Brooklyn and Queens since these two boroughs offer more land, fewer expenses, and growing multifamily demand. Thousands of new units are in the pipeline, and domestic and foreign investors are quickly scooping them up. Plus, young people priced out of Manhattan are setting their sights on these undervalued boroughs. To read the whole story, visit Bloomberg.com.
GreenBiz: Beyond the numbers: The real value of building retrofits
How does one measure the real estate value of energy retrofits? You can’t just judge energy savings. Energy retrofits are typically overlooked in real estate valuations because investors skim over energy savings, and fail to take into account other values, like lofty rents, increased investor demand, and reduced operating costs. By examining these values, as well as government subsidies and incentives and risk reductions, investors can get a clearer measurement of the value of a retrofitted property. Visit GreenBiz.com to learn more about what makes retrofits valuable.
Houston Business Journal: More retail, commercial planned for Sugar Land master-planned community
The Sugar Land community of Riverstone is sweetening its appeal, as a developer will soon be adding retail, restaurants, offices, and more to the Texan community. Riverstone Commercial Development is planning on building a wide array of new retail developments, and due to Sugar Land’s high-end demographic, it’s an attractive opportunity for commercial enterprises. Soon, residents will have the opportunity to shop and dine at a new mixed-use neighborhood center. Learn more about Riverstone at the Sugar Land community at BizJournals.com.
Miami Herald: Miami Innovation District developers betting big on Miami’s tech future
Could Miami be the next big American tech hub? That’s what one Miami developer thinks. Michael Simkins recently bought 10 acres near downtown Miami to develop into an innovation district. The hub would feature retail, residential, and office space, and the proposed Miami Innovation Tower would serve as the complex’s focal point. There’s still work to be done and questions to be answered, but investors hope that this development will help the city transform into a hotbed of technology and innovation. To read more about the project, visit MiamiHerald.com.
Author: Raymond T. Cirz
