One developer has a bold dream for Atlantic City, and Boston real estate goes for the gold
Jan 16, 2015
Here are the news stories you might have missed this week:
Bisnow: What the Olympics mean for Boston real estate
Boston’s angling to host the 2024 Olympic Games, and if selected, business leaders believe that it could be a boom for the area’s real estate market. New development for Olympic housing, sports facilities, and infrastructure upgrades could complement Boston’s existing facilities, and bring investment money into the city. Though many sectors of Boston’s real estate market are booming, a winning Olympic bid could continue the city’s hot commercial real estate growth into the future. Learn more at Bisnow.com.
The Wall Street Journal: With hotel purchase, investor aims to bring back Atlantic City
The new owner of Atlantic City’s Revel casino has big dreams for both the casino and the entire city. Glenn Straub has a $500-million plan for city-wide revitalization that could transform the gambling hub into a family-friendly destination. Though Straub might not reopen Revel (it could become a university for geniuses), he sees Atlantic City as a region that’s ready for a rebirth. To learn more about Straub’s plan, go to WSJ.com.
GlobeSt.com: Vibrant suburbs versus CBD? It’s a toss up
Where do you prefer to work: In a central business district (CBD) or a suburban office? Companies are learning that the answer isn’t always easy, in fact, a number of factors influence corporate location decisions. While buildings in CBDs can charge higher rents, tenants often prefer suburban centers — and there’s little difference between the two in terms of vacancies and absorption. With choices aplenty, factors such as available transportation, the strength of the local business environment, and others tend to tip the scales in the decision-making process. To read more about this trend, head over to GlobeSt.com.
The Citizens’ Voice: E-commerce spurs industrial growth in NEPA
The growth of the e-commerce industry might threaten brick-and-mortar stores, but the warehouse market is feeling more favorable effects, and triggering growth throughout the nation. One surprising beneficiary of this trend is Northeastern Pennsylvania (NEPA), where industrial development has become a key economic driver for the region. Since more people are buying everything from TVs to toothbrushes online, more warehouse space is needed to house these consumer goods, and regions with huge tracks of open land are primed for new development. Read about NEPA’s industrial growth at CitizensVoice.com.
Author: Raymond T. Cirz