|Reznick Group's Mary Beth Norwood, who is speaking at Bisnow's2nd Annual Baltimore Real Estate Summit on April 24, shares the advice she's giving her clients as we claw out of the recession:|
- Monitor your operating costs so as to not return to pre-recession spending habits (no more French manicures, even if your building has a date tonight).
- Make sure your asset management team is proactively managing your portfolio to your objectives.
- Looking for a loan? The market is picking up, so weigh all your options for terms. You might be surprised what you can get.
|Of course it's tax season, but Mary Beth tells us Reznick's other in-demand work right now is compliance with regulatory, statutory, and lender agreements like Payment in Lieu of Taxes calculations. (Baltimore City Council prez Jack Young, above, has decried the high amount of tax revenue lost to nonprofit landholders.) Meanwhile, high real estate taxes for the rest of Baltimore's landowners (and crime) stand in the way of the business welcome wagon, Mary Beth says, and this era of budget gaps makes a transition to a more business-friendly environment tougher.|
|Baltimore's beacon, though, is the waterfront, she says. The Four Seasons (which we snapped, above) and other Harbor East activity are a great start, and the redevelopment of the Allied Chemical site for Constellation "will dramatically improve an already impressive gateway," she says. Then there's Under Armour's campus redevelopment. Those projects will anchor "the most public part of our city," she says. To hear more from Mary Beth and the rest of our all-star line-up, register here!|