Over 4 million square feet of office-to-residential conversions proposed in downtown DC. New WMATA head says increasing rail service is highest priority, safety a given. Union Station faces more challenges.
the entrances and exits, it s gated off. they put these big blue barriers to keep folks from going in and out. the woman s neighbors allowed some fresh air but confined to the complex. their trash piling up, waiting for specially designated disposal teams to truck it out. many nearby businesses closed. the woman lives a 15-minute drive from the olympic park. not only where she lives that health authorities have it locked down but also where the woman works which happens to be in a bank inside this building, so out front you can see they ve got the blue tents set up where a lot of times they ll do testing and processing before they can finally declare it safe enough to reopen. but if you think it s just a bunch of empty offices, look closer. covid control staff carting in big boxes, inside them, can you read that? pillows, bedding, people have actually been locked down at work and these supplies might make their stay a bit more
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Seven Must Reads for the CRE Industry Today (May 19, 2021) A start-up owned by Warren Buffett is betting on modular construction, reports The Wall Street Journal. CBRE research shows that the commercial real estate lending market remained resilient in the first quarter of the year. These are among today’s must reads from around the commercial real estate industry.
Investors Bet on Commercial Real Estate, Undeterred by Empty Offices and Hotel Rooms “More than a year into the pandemic, high-rise office buildings are largely empty. About one of every two hotel rooms is unoccupied. Malls are struggling to attract shoppers. And yet by most measures, the U.S. commercial real-estate market is in remarkably solid shape. Prices fell far less than after the 2008 financial crisis and are already rising again. The number of foreclosures barely increased. Pension funds and private-equity firms are once again spending record sums on buildings.” (