The Rams’ move is driving interest in Inglewood, and the most interesting Houston submarket
Jan 25, 2016
Here are the news stories you might have missed last week:
Los Angeles Times: Rams heat up Inglewood’s real estate market
The hottest bet in California right now isn’t on the Warriors, Kings, or Dodgers, but the future of Inglewood. When the St. Louis Rams announced their move to Inglewood for the 2016 NFL season, the city became a hot commodity for developers and investors. But an interesting trend could be taking shape – knowing there’s demand, land and business owners might hold onto properties in order to fetch higher prices. The development of a brand new NFL stadium, set to open in 2019, is certainly a big carrot for area developers, but time will tell, they say. To see how Inglewood has reacted to the news, visit LATimes.com.
Commercial Property Executive: Green light for $1.5B Boston mixed-use project
Developers just love Boston, an old city that continues to attract new businesses and residents. The city granted a development team the first round of approvals for a $1.5 billion, six-building project that will transform a ‘60s era parking garage into a mixed-use destination. Early plans show that the new development, at One Congress Street, will add 812 residential units, 196 hotel rooms, 1.1 million square feet of office space, and 85,000 square feet of retail to Boston’s West End. This mixed-use project helps fill some of the ever-growing demand of many to be in Boston. Visit CPExecutive.com to see the details of the project.
Houston Business Journal: This Houston submarket’s vacancy rate is a ‘completely new phenomenon’
Houston is synonymous with oil, and everyone is looking at how the sinking commodity is impacting the downtown office segment. But they’re ignoring one CRE segment that’s booming — industrial and port developments outside of Houston’s core. Vacancy rates are way down in this area (well below Great Recession rates), and petrochemical, manufacturing, and logistics companies continue leasing space. In fact, 1.3 million square feet of new development has already been preleased, and almost one million more is being built. Read about this Houston submarket at BizJournals.com.
The New York Times: College towns get new housing, but it’s decidedly not dorms
Student housing isn’t flashy or fancy, and many developments in college towns satisfy the needs of students. But in Philadelphia’s University City, a developer has built a rental property with indoor and outdoor amenities – and it’s not for college kids, or even graduate students. That’s because it’s aimed at young professionals who recently graduated, and who live and work in the city. Developers around the country have spotted this trend and they’re building luxury apartments near college campuses to attract young workers who still want that campus feel. There’s plenty of good reasons why, but developers have learned that working closely with neighborhood leaders really helps these projects be successful. Learn what’s happening in Philadelphia at NYTimes.com.
