YoChicago.com recently interviewed Alan Lev, CEO of Belgravia Group. Alan discusses his company’s recent performance and strategies in this challenging market and his thoughts on the future of the Chicago residential real estate market and its ability to absorb the current inventories. What struck me as insightful and telling are Alan’s insights (at the
Value of Walkability
According to walkscore.com a walkable neighborhood has:
1) A center: Walkable neighborhoods have a center, whether it’s a main street or a public space.
2) People: Enough people for businesses to flourish and for public transit to run frequently
3) Mixed income, mixed use: Affordable housing located near businesses.
4) Parks and public space: Plenty of
Co-Working Office Space
As more workers and entrepreneurs are requiring space to hold meetings and appointments outside the company office, there is a growing need for locations away from homes in which to "plug in", make phone calls without the background music and noise of a Starbucks or other such cafe. The industry which addresses this need is referred
Is There a Walmart in Your Future ?
Walmart has opened its supercenters in many if not most urban and rural communities. Where do they go next ? With the over abundance of strip store space just about everywhere Walmart has many options. Walmart is embracing the concept of ‘in-flll" with three concept store formats with which they are experimenting:
- Walmart Express
Are We There Yet?
The ubiquitous refrain at any gathering of commercial real estate professionals in the past 24 months can be summed up in a few short questions: Are you busy? Who is lending? No, seriously, who is lending? And — of course — when will this end?
As 2011 kicks into gear the refrain is the same but our
Resale Fees ?
Recently, The New York Times published an article entitled Resale Fees That Only Developers Could Love . The article does a nice job describing what resale fees are and how they are created and even the securitization of future resale fees so we will not go into it here. Briefly, resale fees run with
Contractors, Landlords, and Property Managers Must Take Care to Comply with New Lead Paint Regulations
Pursuant to a new rule passed by the Environmental Protection Agency, all contractors, landlords, and property managers performing or hiring for painting projects that disturb lead-based paint must now become "lead-safe" certified before performing work on houses built before 1978. The new requirement also applies to weatherization projects, and to schools, day care facilities, or other commercial properties occupied by children.
Transfer Fee Covenants ?
Ohio House Bill 292, which prohibits the future creation of transfer fee covenants, was signed into law on June 14, 2010 and will become effective on September 13, 2010. Transfer fee covenants in effect prior to September 13, 2010 are not affected by the new law.
Transfer fee covenants create revenue streams for real estate
Performance and Payment Bond for Public Project Deemed Discretionary
In the much-publicized "Kenwood Towne Place" litigation in Cincinnati, which involves over $40MM in lien claims, presiding Judge Beth Myers issued a Decision and Entry that disposed of subcontractor claims against the Port Authority of Greater Cincinnati (the Public Authority involved with the project). The Court dismissed the subcontractors’ claims for takings and negligence.
One
Buy Swampland in Florida? Or, just a Bad Case of Buyer’s Remorse? Discontent with Interstate Land Sales Full Disclosure Act
“I have some prime swampland in Florida to sell you” is a slang expression used to poke fun at the gullibility of a person. This saying is based on events of the 1960s and 1970s where local scammers would attempt to induce out of state purchasers to acquire “lucrative” land which, in reality,