The votes are being counted, and the rules commercial real estate will be playing by for the next few years are starting to come into view.
In Bisnow’s major markets alone, nine governor’s races, 17 ballot measures and a smattering of local races have the power to change what gets built, what it costs and how hard it is to get done.
On the campaign trail, few things got kicked around more than data centers and housing costs. Now voters get the final word.
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Here’s what passed, what failed and who will be making the policy calls that shape CRE for years to come.
This story will be updated as races are called.
Gubernatorial Races
Illinois
Democratic Gov. J.B. Pritzker easily landed a third term despite challenger Darren Bailey’s attempts to blame the incumbent for cost-of-living increases. Pritzker announced plans just last week to invest $156M in an initiative targeting the state's housing shortage. He has also funneled money to the Illinois Quantum and Microelectronics Park, betting on the growth of a nascent industry in the state. On the other hand, he paused data center tax credits this year and has been lukewarm on giving public money to the Chicago Bears to build a new stadium.
Pennsylvania
Incumbent Democratic Gov. Josh Shapiro has won another term. Data centers became a key issue in the race between Shapiro and Republican challenger Stacy Garrity, who attacked the governor for his prior support of the industry. Shapiro had promoted the booming data center industry in the state last year, but in August, he rolled out new restrictions on data center development, removing the sector from his accelerated permitting program and requiring developers to get approval from local authorities. Some developers embraced the rules, saying they will help separate experienced project teams from speculators. Garrity had called for tougher rules on the sector, including a pause on data center development.
During his first term, Shapiro advanced a $1B housing plan, which included a fund to support development and zoning reform to allow more units in single-family neighborhoods. And he achieved a series of big economic development wins from pharmaceutical companies expanding in the state, such as a $3.5B project from Eli Lilly in the Lehigh Valley.
Senatorial Races
Georgia
Democrat Jon Ossoff retained his seat in the U.S. Senate. Ossoff, a rising star on the Democratic national stage, has promised to repeal the Trump administration’s tariff policies – one of the primary drivers of rising construction costs — and opposed the president’s sweeping tax cut bill. Ossoff was one of the drivers behind the push to restrict institutional ownership of single-family homes and said he would help local communities either lure or resist new data center projects, depending on what they wanted.
This is a developing story and will be updated as results come in.
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