The New Markets tax credit program will offer investors an incentive to finance office, retail, or light industrial facilities in areas that haven’t seen much investor interest in a generation. Attracting such development is key to seeding the turnaround of a neglected area.
Residential and commercial real estate markets, which had started to retreat from soaring highs in the second half of 2001, were nudged down by the Sept. 11 terrorist attacks. But the prospects for 2002 look surprisingly good—for reasons that are anything but surprising. Here you'll find forecasts as well as vacancy rates for four commercial sectors as reported in late October 2001.
Mitigation banks emerged in the 1990s as a market-based response to federal wetlands preservation efforts. Mitigation bankers rely on real estate professionals to advise on the potential demand for a bank and to find the land to include in it. Practitioners also give a bank its local seal of approval.
Analysts are warning of brownouts and escalating utility prices in major metro areas throughout the country this summer. What will that mean for the nation’s commercial practitioners? Some extra client hand holding but no extreme measures, say California pros who’ve been there.
At the state and federal levels, efforts are under way to remove liability barriers to the redevelopment of brownfields, but if you have a deal that can’t wait until lawmakers act, there’s good news for you.