The debate about parking in Omaha, and why Portland wants density
Dec 14, 2015
Here are the news stories you might have missed last week:
The New York Times: In growing Portland, the strategy is density over sprawl
There’s no doubt that Portland is one of the biggest success stories of a city’s revitalization and growth since 2000. Though the city has added 300,000 residents in the last decade, Portland is growing up, not out. Streets have been revitalized with mixed-use development that is pushing for condos and apartments, and commercial buildings to go up in long-underutilized areas. Stimulating this trend is the desire of many Portlandians to walk or bike to work in less than a half hour, so neighborhood development continues to be strong. Head to NYTimes.com to read how Portland is managing its growth.
Phoenix Business Journal: Restaurant surge fuels office leasing boom in downtown Gilbert
Gilbert, Ariz., on the outskirts of Phoenix, is seeing a surge of new restaurants – and office absorption. This restaurant development has fueled population growth, and a warm business environment is driving relocations to Gilbert, as companies see the town as an attractive location. The office segment has picked up recently as businesses continue landing in Gilbert, and high-quality office space is quickly finding tenants. Gilbert officials aimed to make the town a true live-work-play community, and the expansion of these CRE segments is a testament to their policies and planning. Visit BizJournals.com to read more about why Gilbert is growing.
Omaha World-Herald: Do we need more parking garages? City planners and businesses wrestle over expectations for downtown’s future
Is it possible to have too much parking? Omaha’s downtown is growing no doubt, but does it need more parking garages? Those are the questions city officials and developers are grabbling now. The city proposes that some sites now slated for parking could be developed in the future, and too much parking chokes off development opportunities. If parking planners work together, they could share garages to ensure employees have enough parking, opening the door for more development in the future. See what the city is proposing at Omaha.com.
GlobeSt.com: What do MOB tenants want?
The medical office building (MOB) segment is changing – in a good way, perhaps. Plenty of Class B MOB space needs to be upgraded, which could lead to refurbs, new consolidations and sales. Plus, it’s still a landlord’s market, so rising rents and low vacancies should continue, and concessions aren’t as common as some doctors expect. Overall, the MOB segment is sound, and is supported by strong fundamentals. Read more about these tenant needs at GlobeSt.com.
Author: Michael Welch