News
The Fallout: The Commercial Sector Struggles to Stay Afloat
Struggling residential developers aren’t alone. Commercial real estate is facing its worst year since
the 1991/1992 depression, concludes the Emerging Trends in Real Estate 2009 report, released by the Urban Land Institute and PricewaterhouseCoopers.
Construction Spending Declines in October
Like so many other economic indicators recently, construction spending moved downward in October, according to numbers released today by the Census Bureau.
Trammell Crow Residential, Equal Rights Center Agree to Start New Program
As part of its settlement with the Washington, D.C.-based Equal Rights Center, Trammell Crow Residential Co. has announced it plans to help form the Equal Rights Center Multifamily Housing Resource Program (MHRP). Trammell Crow committed $1.5 million over the course of 10 years to fund the project.
Mixed-Use Developers Optimistic Despite Sluggish Retail Numbers
Sluggish third-quarter earnings for retailers do not bode well for developers trying to attract these tenants to their mixed-use properties. But developers remain optimistic, despite more bad news as the holiday season approaches. The Commerce Department’s report last week that its broad measure of U.S. retail sales dropped by 2.8 percent in October—the largest monthly drop since records began in 1992.
Hurricane Proof: Gulf Coast Developers Look for Ways to Shore Up Their Properties from Stormy Weather
Charley, Frances, Jeanne, Ivan, Katrina, and Rita. Famous siblings? Well, they are related in a sense. They are the series of hurricanes that pummeled the Gulf Coast between 2004 and 2005, leaving thousands homeless and causing millions of dollars in damage. The devastation of Hurricane Katrina alone—the costliest and deadliest of all the storms—was enough to convince developer Jim Hayes to follow a different model with his new residential property, Audubon Village, along the Texas coast.
